Companies are not hiring en masse the way they were earlier in 2022, the article says. With a potential recession on the horizon, organizations are concerned about paying new workers.
The solution for many organizations is internal promotion. For example, Korn Ferry’s clients are aiming for 40 percent of their hires to be internal, according to Jacob Zabkowitz, the firm’s vice president. It saves time, money and energy to choose a candidate who does not have to undergo hiring and training processes, the article says.
Korn Ferry notes that with 10.1 million roles available in the U.S., the job market has not “fallen off a cliff.” Rather, companies are being more cautious about whom and how they hire.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.