ResumeBuilder.com Survey Reveals 4 in 10 Companies Are Hiring Contractors to Replace Laid Off Workers
Companies are "quiet hiring"–the practice of hiring contract workers or asking existing employees to take on additional responsibilities–to weather current economic conditions
SEATTLE, Jan. 26, 2023 /PRNewswire-PRWeb/ -- ResumeBuilder.com, the premier resource for professional resume templates and career advice, has published a recent survey report that shares insight into how many companies are currently "quiet hiring." Researchers analyzed responses from 1,000 business leaders at companies with at least 50 employees.
According to the report, 57 percent of business leaders surveyed say they have had layoffs in the past three months. Fifty-six percent say they plan to have layoffs in the coming six months. Although many companies had or anticipate downsizing, 37 percent are currently hiring contractors. Out of these companies, 78 percent say they are hiring for more contract positions now compared to previous years, and 71 percent say they are hiring contractors to save money. Additionally, for companies that experienced layoffs in the past three months and are currently hiring contractors, 80 percent say contract workers carry out responsibilities previously assigned to laid off employees.
The study also highlights the changes that existing employees are experiencing. In the past three months, 53 percent of business leaders say they moved full-time employees to contract positions. Additionally, 37 percent say they asked employees to move from full-time to part-time. Within the next six months, 52 percent of business leaders anticipate full-time employees will move to contract positions, while 40 percent anticipate employees will move from full-time to part-time.
In the past three months, 62 percent of business leaders say they asked employees to take on new roles within their organizations. Likewise, 66 percent asked employees to take on additional tasks. While 82 percent of these respondents say employees were compensated for additional work, 14 percent say there was no added compensation. Additionally, 34 percent say their organization cut salaries for some employees. Of this group, 32 percent reduced salaries for 25 percent of their workforce, while 25 percent say they reduced wages for half of their employees.
All data found within this report derives from a survey commissioned by ResumeBuilder.com and conducted online by survey platform Pollfish on January 11, 2023. In total, 1,000 United States business leaders at companies with more than 50 employees were surveyed. This survey utilized a convenience sampling method, and appropriate respondents were found through demographic criteria settings. At the time of the survey, they were all ages 25 and above, employed for wages or self-employed, had 50 or more employees at the company, and had an organizational role as a C-level executive, owner, partner, or director, president/CEO/chairperson, or senior manager. To view the complete report, please visit https://www.resumebuilder.com/1-in-5-companies-are-quiet-hiring-contractors-to-replace-laid-off-workers/.
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