The possibility of a looming recession is making many business owners to
rethink their hiring plans, according to a survey released today by the
Brookfield-based staffing firm, QPS Companies Inc.
Moreover, two-thirds said
they won’t be raising their workers wages this year, QPS said.
The company said it queried more than 200 companies, including manufacturers, banks,
printers, distributors and information technology firms throughout Wisconsin
and Illinois. The survey showed that 38 percent of employers plan to
increase staff, down from first quarter forecast of 54 percent.
QPS said the 38 percent figure is also well below second-quarter numbers
from 2006 (53 percent) and 2007 (52 percent).
According to the survey, the biggest issues facing companies are material
costs and lack of qualified or reliable employees. Many companies wrote in
their own responses noting fears of an economic slowdown affecting their
businesses, with the lack of work orders, the down housing marketing and the
possible recession looming.
Mark Immekus, executive vice president of QPS, said economic uncertainty is
playing a major role in the way companies are doing business.
“Companies are slowing down their anticipated hiring trends, and are making
conservative wage adjustments,” he said. “Many businesses are taking a ‘wait
and see’ type of approach before making any drastic changes.”
See release: http://www.wisbusiness.com/index.iml?Article=121497