Benefits pros optimistic on health of job market

Benefits and HR professionals are generally optimistic about the job prospects in their field, yet express lingering concerns about job security.

Overall, 88% of expressed some level of confidence that they could land a new position if necessary, according to the Society for Human Resource Management’s recent job pulse report. Of that 88%, 59% said they were “somewhat” confident and 29% described themselves as “very” confident in their ability to find another job.

Although overall results from the report point to a content benefits workforce, 28% said they are already looking for a new job, according to SHRM. More than one out of three respondents (37%) who said they were looking or planning to look for a new job cited “more compensation/pay” as the reason.

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Other factors prompting HR and benefits professionals to look for new jobs included:

• 33% are looking for a better career advancement opportunity.
• 32% seek a better workplace culture.
• 22% want less stress.
• 20% seek more meaningful work.

But many of the respondents noted a wide range of reasons for wanting to stay in their current positions. Nearly two out of five (38%) said they continue to work at their current organization because of “flexibility to balance work and life issues.” Another 34% pointed to “compensation/pay,” and one-third of HR professionals (33%) cited “positive relationships with colleagues/co-worker.”

Also see:4 ways to attract talent like a ‘best place to work’

On the whole, fewer than three in 10 said their organizations were currently hiring for HR-related positions.

Of those companies hiring HR professionals, one-quarter (24%) said they were looking for professionals with employment/recruitment skills, followed by people with benefits experience (16%), employee relations skills (13%) and training/development skills (13%). 

“Hiring for HR positions depends greatly on the size of the company,” says Jen Schramm, SHRM manager of workforce trends. “Larger companies employ more HR professionals, so it makes sense that they are more likely to report that they are trying to fill HR positions, especially during a jobs recovery. Improvements in the job market are also making HR professionals more confident about seeking out new opportunities for themselves.”

Also see: Benefits managers expecting more investment in HR tech