Experience Factor’s annual Market Pulse Survey asked Human Resource leaders across the Denver Metro Area, “What have been your company’s biggest challenges in growing in 2013?” One in four respondents cited finding qualified workers/talent as their biggest challenge. A majority of respondents reported at least some growth in their business this year.
“Surprisingly, given the number of people still out of work, this has been one of the toughest hiring markets in a decade,” said Experience Factor President Stephanie Klein. “The unemployment rate for highly skilled workers is much lower than the actual rate of 7 percent, some estimates put it as low as 3.5 percent. That means companies need to work harder to attract top talent.” Last year, survey respondents blamed market conditions for the biggest obstacle to growth.
Forty-one percent of survey respondents reported “moderate” growth in 2013 with an additional 23 percent reporting “rapid” growth. Sixty-eight percent said they’d added staff during the past year.
HR managers and business leaders in top local industries, including health care, financial services, real estate, construction, and energy development completed the Market Pulse Survey the first two weeks of October. Thirty-four percent of respondents reported hiring up to 10 new employees and 16 percent made between 11 and 25 hires. Five companies reported hiring over 51 employees while 23 percent didn’t make any new hires in 2013.
For a copy of the survey and results go to the survey report.
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Experience Factor is a locally owned, full-service recruitment firm in Denver established in 2003. The firm specializes in placing experienced professionals in every industry and has worked with hundreds of companies in Colorado. President Stephanie Klein is chair of the Denver Workforce Investment Board and past president of the 1,300-member Colorado Human Resource Association.