- ManpowerGroup’s latest Employment Outlook Survey reveals stable global hiring intentions at 22% for Q3 2024, despite a year-over-year decline of -6%, signaling ongoing economic uncertainties.
- The survey underscores the growing recognition of artificial intelligence (AI) and machine learning (ML) technologies in shaping hiring strategies and business performance.
AI’s Impact on Business:
- Over 70% of employers believe AI and ML will positively impact business performance, especially in IT and Financials & Real Estate sectors, with a focus on upskilling and reskilling initiatives.
- The survey reflects a significant increase in AI adoption, with nearly half of companies already leveraging AI technologies to enhance workforce capabilities.
Key Findings:
- Costa Rica, Switzerland, Guatemala, and Mexico report the strongest hiring intentions globally, while Argentina and Romania exhibit the weakest outlooks.
- Sectors such as IT, Financials & Real Estate, and Health Care & Life Sciences demonstrate the strongest hiring intentions.
- Challenges in AI adoption include high costs, privacy concerns, and a shortage of AI-skilled professionals.
Regional Insights:
- North America maintains the most optimistic hiring outlook at 27%, although it has declined -8% year-over-year.
- Asia Pacific reports the second strongest regional outlook (23%), led by India and China, despite a -8% decline compared to the previous year.
- Central & South America witness improved hiring projections, with strong intentions in Costa Rica, Guatemala, and Mexico.
- Europe, the Middle East, and Africa (EMEA) exhibit the lowest hiring outlook at 18%, with variations across countries such as Switzerland, South Africa, and Romania.
- Despite global economic uncertainties, hiring intentions remain steady, with a growing acknowledgment of AI’s transformative impact on business performance.
- Regional variations highlight diverse workforce dynamics, emphasizing the importance of tailored strategies for talent acquisition and retention.
- ManpowerGroup’s survey underscores the imperative for organizations to adapt to evolving workforce trends and leverage innovative technologies to drive future success.
