How Q3 Hiring Trends Are Shaping Q4 Expectations
Summer is normally a slower hiring period, but we continued to build momentum throughout Q3. We saw steady hiring demand throughout the summer and are looking forward to finishing the year strong.
How Q3 Went:
Nothing slowed down as we would normally expect in the summer months. Time-to-fill and talent quality stayed consistent with Q1 and Q2, even through the traditionally slower summer months. New York's economy grew at the fastest rate of any state in Q2, and we continued to feel that growth in Q3. Powered by Greater Rochester Chamber, we continued to advocate for policies and programs that promote regional growth and innovation in the key sectors that are driving regional growth - including manufacturing and traded careers.
We saw both temp to hire and direct hire roles open up, but direct hire led the quarter. Many HR roles opened in the manufacturing and education sectors—a strong signal that hiring activity will continue to grow in Q4. The warmer weather gave us the opportunity to partner with St. John Fisher on seasonal hiring opportunities for the Buffalo Bills Training Camp. In the Manufacturing sector, we worked on many placements for companies like Gorbel. This sector is where we expect the strongest growth heading into Q4, a sign that investments in the region's advanced technology companies through federal programs, including the NY SMART I-Corridor Tech Hub and STELLAR NSF Engines, are paying off.
What We're Looking Forward to in Q4:
The increasing demand we saw for packaging and machine operators in Q3 shows us what specific roles are in the most demand right now - and we don't expect that to slow down in Q4. Hiring is expected to grow in Q4 according to ManpowerGroup’s latest Employment Outlook Survey, Net Employment Outlook (NEO) for the fourth quarter stands at 29%, up two points from the previous quarter and six points from the same period last year. As we head into Q4, we expect a year-end hiring push through Thanksgiving, followed by a slowdown through the end of the holidays. Using this downtime can be an asset for hiring managers to get budgets settled, assess hiring needs, and be ready to hire so the new year starts with momentum. After a faster-than-expected Q3, we are looking toward the year-end hiring push. As announcements and commitments made in Q3 become a reality this fall, we're excited to see even new more roles open up across our region.
Beyond TalentEdge remains committed to our current clients and their goals, and looks forward to welcoming in new clients as strategic hiring partners, too. If you are interested in learning what it’s like to work with a consultative hiring partner, connect with our Sr. Director, Business Development Michael J. Nevins today.