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 * State of Hiring
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 * Your Top Workforce Priorities


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WELCOME TO YOUR SCALE STANDARDS FOR COMPENSATION AND LEADERSHIP EXCELLENCE


STATE OF HIRING

The job market is steadying and taking a positive tone, returning to its
pre-pandemic state. Employer confidence is building with a growing number of
economists saying a recession in the next few months looks less likely35, and
companies are investing in growing their workforce.

Looking ahead to 2024, over 65% of economists see employers adding more jobs
than they cut over the next year. The most optimistic forecast is an average
monthly job creation of 180,000, suggesting the U.S. economy will add an
additional 2.2 million jobs by September 2024.

Over the last year, employer base salary levels increased 5.6% on average
despite 2023 merit increase budgets of 3.8%. According to the report, this is
due to off-cycle pay increases, which 59% of employers reported providing in
2023. The top reasons for off-cycle increases included retention concerns,
counteroffers, market adjustments, and internal equity34.

Companies incorporating strategic workforce planning during economic uncertainty
will be better positioned to come out ahead. Organizations adopting a mindset of
growth, quality hires, and strategic investments in talent and technology will
ensure more efficient teams that strengthen revenue and your bottom line.

Learn more in the 2023 Fall Market Overview

> “While preliminary compensation budgets for 2024 are showing a slight decline,
> they remain well above pre-pandemic levels, reflecting the ongoing tightness
> of the labor market and low levels of unemployment.”
> 
> - Lauren Mason, Senior Principal of Career at Mercer


CHALLENGES ARE OPPORTUNITIES TO OUTPERFORM YOUR COMPETITORS

We are in a challenging time to hire and retain staff. However, this can be good
news for companies that can rise to the challenge. When most companies are
struggling, opportunities arise for the organizations that can be flexible and
creative in their efforts to attract talent.


WHAT IS YOUR TOP WORKFORCE PRIORITY?


BETTER CUSTOMER SERVICE

Customers report 3 times faster hiring and better results when working with
AppleOne.8

What You Can Do How AppleOne Can Help


ATTRACTING QUALITY CANDIDATES

48% of employers say that failure to find the right workers is the biggest risk
to hitting their growth targets7, and 52% of employed workers are NOT actively
seeking new opportunities.1

What You Can Do How AppleOne Can Help


FILLING OPENINGS FASTER

Job seekers say that a slow hiring process is the top reason they lose interest
in a potential employer leading to increased ghosting and the loss of an
employer’s preferred candidate.2

What You Can Do How AppleOne Can Help


OPTIMIZING COSTS

Labor is often one of the biggest costs of doing business and labor expense is
up 4.5% year over year.3

What You Can Do How AppleOne Can Help


IMPROVING ENGAGEMENT AND RETENTION

Voluntary turnover remains 20% higher than pre-pandemic3 levels with more than 4
million people quitting each month.

What You Can Do How AppleOne Can Help
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 * Attracting Talent
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 * Our Difference
 * We Hire Faster

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