Nineteen percent of Los Angeles executives surveyed anticipate hiring for new professional-level positions in the next six months, according to the recently-released Los Angeles Professional Employment Forecast from Robert Half. Another 62 percent plan to hire for currently open roles at their organization.
Yet more than half (53 percent) of these same CFOs surveyed said it’s somewhat or very challenging to find skilled job candidates. To address these staffing challenges, some firms are strengthening the salary and benefits they offer. In fact, 34 percent of Los Angeles CFOs surveyed said they have modified their company’s compensation plan in the past year as a way to enhance recruiting efforts.
“Compensation is constantly improving,” says Brandi Britton, district president for Robert Half in Los Angeles. “With the current business growth in Los Angeles, there is tremendous competition among companies to attract and retain professional-level candidates.”
Hiring managers looking to hire in the next six months need to keep current on the latest salary trends, advises Britton. She suggests they consult the new 2016 Salary Guides from Robert Half for the latest salary projections and other hiring advice.
Britton stresses that managers who take too long to make a hiring decision may lose out on the best talent. “The time to fill positions is being shortened as skilled candidates have more and more options,” she notes. “If you need to hire, move fast.”