Workforce Trends – The Big Stay, Temp vs. FTE Hiring, Wage Inflation

The extreme monetary policy tightening that occurred in 2023 will have a negative impact on global growth this year. However, with central banks’ inflation targets on the horizon, widespread cuts in policy interest rates should occur.

In this issue, we connect the impact of the economic landscape to the trends that are shaping the world of work today. First, we share our research findings on “The Great Stay” and discuss how this current labor trend could impact employers’ talent attraction and retention strategies in 2024.

We also analyze our valuable starts data to gain a better understanding of how Allegis Global Solutions' (AGS) clients have been utilizing contingent workers since the pandemic and why there’s been marked reduction in the usage of supplemental labor despite the ongoing volatile market.

Finally, we evaluate talent supply and the most in-demand skills across the US, the UK and India to identify the positions that endured the largest wage increases in 2023.