5 out of 10 executives hope to expand their team before the end of 2021

5 out of 10 executives hope to expand their team

14/09/2021 Optimism is common for 95% of surveyed entrepreneurs worldwide. Those from the United States (which foresee a hiring of 48%), India (44%), Canada and the Netherlands (40%), Mexico (39%), France (37%), Ireland (34%) and the United Kingdom (32) stand out. %)

As the recovery of the national GDP becomes tangible, and vaccination spreads, Spanish employers are beginning to regain optimism regarding their ability to generate net employment. In this way, the Quarterly Study of Q4 of ManpowerGroup upon Employment Projection reflects the 74% of Spanish managers intend to maintain (20%) or expand (54%) their team before the end of the year. An optimism common -although to varying degrees- in all geographical areas, all company sizes and all productive sectors, although they are Hospitality (with an expectation of generating net employment of 58%), Construction ( 50%) and the Manufacturing Industry (45%), which led the recovery.

It is excellent news that Spanish entrepreneurs plan to expand their teams by 32, or even 58% in some sectors, before the end of the year -signal Francisco Ribeiro, Country Manager of ManpowerGroup Spain. However, we cannot ignore two realities associated with this figure: firstly, that Construction, Restoration and the Manufacturing Industry are reversing in Q4 a trend of job destruction collected in the last four quarters of the Study. . And, secondly, that the optimism reflected in the Study has yet to be transformed into real employment opportunities for professionals. We cannot forget that 6 out of 10 entrepreneurs say they have difficulties finding the Talent they need ”.

Indeed, hea Hospitality and Construction are two of the sectors that had been dragging a negative average in terms of their ability to generate net employment (-11% on average in the period Q3 2020-Q3 2021 of the ManpowerGroup Study of Employment Projection for Hotels and Restaurants, and -4% for Construction). In Q3 of 2021 all sectors began to reflect an improvement and it is now, in Q4 when optimism is supported by an exponential growth of optimism. Data that can be better understood taking into account the time the sample was taken – end of July 2021, with the announcement of economic policies and much more positive recovery expectations at the European level.

It is also worth highlighting the optimism of other sectors of the Spanish economy, such as the Manufacturing industry (+ 45%), the Mining, Agriculture and Energy (grouped in Other Industries, with 37% expected to generate net employment); Commerce (+ 26%) and Social Activities, Transportation, Logistics and Communications (grouped in Other Services, with a 25% growth) and, finally, Finance and Business Services, with 23%. All of them had reflected a slow but constant improvement in the last year, although it is in Q4 when their projection of job creation multiplies sharply.

The moment of the downtown area

With a 43-point jump between quarters, the Central area (Madrid, Castilla La Mancha and Castilla-León) announced the greatest optimism regarding the hiring of Spanish entrepreneurs (41%), followed by the North area (Basque Country, Cantabria and Rioja) with 38% – and a growth of 34 points compared to Q3 of 2021); Northeast (Catalonia, the Balearic Islands and Aragon), with 34% and a growth of 27 points in three months; and South (Andalusia, Extremadura, Canarias), with 33% growth expectation and the same data in their quarter-on-quarter comparison.

In general lines, and comparing the annual period, it is the entrepreneurs of the Northwest area (Galicia, Asturias) who have maintained a more stable rhythm in their recruitment projections, if we compare it with the rest of Spain (1% on average in the last year).

Optimism, finally, in micro-businesses

Companies of all sizes predict growth in their teams of 32% on average in the fourth quarter of 2021. However, the relevant data is that at last in Q4 the micro-enterprises enter with determination in a positive trend in terms of their expectation of job creation (20% vs -2% in Q3 of 2021). As happened in Q3, the most optimistic are medium-sized companies (38%), followed by companies with more than 250 employees (35%) and small companies (between 10 and 49 employees, with a 33% expectation in generation of net employment).

Spain, in line with the global optimistic trend

As reflected in the ManpowerGroup Employment Projection Study for Q4 2021, Spain goes from being eighth behind in the previous quarter (with 4% in terms of expectation of generating net employment) to being in the top 10 worldwide in recruitment projection (32%), in line with the US (48%), India (44%), Canada and the Netherlands (40%), Mexico (39%) France (37%) and Ireland (34%), and at the same level as the United Kingdom (32%). In fact, of the 43 countries and territories analyzed, only two entrepreneurs (Panama, -2%, and South Africa, -2%) are pessimistic about their ability to generate employment before the end of the year.

The ManpowerGroup Study of Employment Projection in Spain for Q4 of 20 21 has been carried out by interviewing a representative sample of 1029 Spanish executives, who have been asked the same question: “How do you foresee that total employment will change in your company in the next quarter, until the end of 2021, compared to the current quarter? ”. This same question has been answered by almost 45,000 executives from 43 countries and territories around the world, of which 26 were from EMEA. More information, here.