There is a strong market for candidates that value flexibility over anything else (salary, vacation, opportunity etc.) Consistently, we have heard the preference is hybrid with the option to go into the office 2-3x’s per week. This balance tends to be the best way to meet in the middle and attract talent that is looking for in office and/or remote.
At HPR, we have noticed a market-wide push for more of an in-office environment. Believe it or not, companies now offer employees more vacation time and better pay to come in regularly. We’ve also noted that candidates who work 100% remote tend to be paid below market, sometimes substantially.
The landscape of work-from-home, remote, and hybrid work has evolved significantly since the onset of the COVID-19 pandemic. As of 2023, about 35% of U.S. workers with jobs that can be done remotely are working from home all the time, a decrease from 43% in January 2022 and 55% in October 2020, but a significant increase from just 7% before the pandemic. Meanwhile, the share of workers on a hybrid schedule has grown, with 41% of remote-capable workers adopting this model, up from 35% in January 2022.
Among these hybrid workers, most are required by their employers to work in person a certain number of days per week or month. About 59% of them work from home three or more days a week, while 41% do so for two days or fewer. Many workers express a preference for working from home more often than their current schedules allow.
The major advantage perceived by workers in telecommuting is the balance it provides between work and personal life, with 71% of teleworkers stating that working from home helps in this regard. However, there are also downsides, particularly in terms of career advancement and feeling connected with coworkers. For instance, 53% of remote workers feel that working from home hampers their ability to connect with colleagues.
Hire Point Recruiting 2023 Notables
Detailed below is an analysis of this year’s achievements, offering insights into the percentage of placements regarding industries, disciplines, average salary increases, and size of companies we served.
HPR Discipline Analysis
In 2023, HPR primarily focused on the Accounting & Finance sector, which accounted for 85% of our placements. Despite this focus, as a multidisciplinary firm, we experienced a significant increase in placements within the HR/Administrative and Operations/Supply Chain sectors compared to previous years. Here at Hire Point Recruiting, we eagerly anticipate the expansion of our service offerings. We believe that by deeply understanding our clients’ values and culture, we can consistently provide the talent they seek, regardless of the role we are recruiting for.
HPR Industry Analysis
As anticipated, the consumer goods, manufacturing, and service sectors maintained their position as the top industries where we placed candidates. However, sectors like technology and biotechnology faced challenges, including layoffs, and hiring freezes, primarily due to significant increases in debt-related costs. Despite these setbacks, through conversations with CFOs in the biotech and tech industries indicate a positive trend, with expectations of increased hiring in these sectors in 2024.
HPR Company Size Analysis
In terms of company size, as you can see by the numbers, we partner with companies ranging from your start-up to Fortune 500.
We noticed a small decline in smaller-cap company hiring, it might be due to the uptick in interest rates and market uncertainty.
HPR’s Salary Increase Analysis
HPR calculated the average salary increase when candidates leave their prior job to join another organization at about 10-20% increase. Now, this stat can be skewed due to a variety of factors such as:
- Candidates taking a lateral move due to layoff, better work life balance.
- Candidates taking a lateral in their base to achieve long-term compensation such as equity.
Remember, it isn’t always all about that base! There are other factors you need to consider when reviewing an offer: Health Benefits, 401k, vacation, flexibility, opportunity, leadership, culture, hours, and commute.
There isn’t a perfect formula when reviewing an offer, but just ask yourself,
“What do I value most in an opportunity?”
Diversity, Equity, and Inclusion Analysis
DE&I remains a priority for the organizations we collaborate with at HPR. To ensure we can effectively assist our clients, each member of our team at HPR undergoes comprehensive training in DE&I. This year, we are proud to report that 40% of our placements have been diversity hires.
Our commitment extends beyond just finding exceptional talent; we emphasize the importance of sourcing candidates from a variety of backgrounds and experiences.
Successes of the year!
Hire Point Recruiting experienced a remarkable inaugural year. The team welcomed two new members, Camille Araneo and Michael Plemenos, broadened our service range to include temporary and interim hiring solutions, acquired a new office and implemented employee benefit programs. Significant time and financial resources were invested in new technologies, enhancing operational efficiencies. Staying innovative and customer-focused has been our mantra. We’ve strived to not just meet, but exceed customer expectations, ensuring that our services remain top-notch and relevant.
We also implemented Hire Point Recruiting’s Newsletter, in which we had the opportunity to interview executives, write current event articles, and address everyday questions.
Throughout the year, Hire Point Recruiting formed partnerships with exceptional clients and working professionals, leading to successful placements.
Should You send a “Thank You Note”?
Absolutely! There are so many benefits to writing a thank you letter!
- Showing Appreciation
- Reaffirms Interest
- Provides an Opportunity to Recap
- Sets You Apart
- Addresses Any Missed Points
- Best of all, actions speak louder than words. If you send a thank you note and you get a quick response, that will be a strong indicator of their interest level.
- Prior to sending, have a trusted friend, mentor, recruiter review it for edits.
- Keep it short and simple!
Please Contact Us! →
Kate Donato – Managing Partner
Anthony Carrea – Managing Partner
Camille Araneo – Associate