Recruiting among the largest U.S. companies has increased exponentially over the last few months due to those companies emerging from the deepest recession since World War II more productive, more profitable, flush with cash and less burdened by debt.
Over the last two months, I have noticed this anecdotally, but this has been confirmed by recent analysis by a series of corporate financial reports, which demonstrate that cumulative sales, profits and employment last year, among members of the Standard & Poor’s 500-stock index, exceeded the totals of 2007 (i.e. before the recent recession and financial crisis began). Deep cost cutting during the downturn and caution during the recovery put these companies on firmer financial footing, helping them to outperform the rest of the economy.
This means that they will be aggressively recruiting the rest of this year including top engineers, scientists and other technical people especially in the Chicago jobs market. For some key positions, this will lead to:
- Increased salaries and compensation needed to attract desired talent.
- Shortages of certain talent.
- Increased recruiting times needed to fill certain jobs.