Half of Spanish executives anticipate a rise in hiring during 2024, according to recent studies. This optimism is particularly evident in specific sectors, with Technology leading the way with a projected 31% growth. Other sectors, including Transport, Logistics, Automotive, and Finance and Real Estate, also show significant employment growth expectations for the coming year.
This positive outlook extends beyond individual sectors. Regions like Levante and Northeast Spain—including Valencia, Murcia, Catalonia, and the Balearic Islands—are projecting a strong net employment generation rate of 20%. Meanwhile, Madrid and Castilla-La Mancha maintain a positive outlook, albeit slightly below the national average.
Key Findings from the LHH Executive Barometer
The IV LHH Executive Barometer reveals that:
- 61% of executives plan to hire new staff this year.
- 20% have no plans to increase their workforce, while 18% remain undecided.
- Larger companies, particularly those with more than 1,000 employees, are the most optimistic, forecasting a net growth of 25%.
- 81% of Spanish executives see business opportunities this year, further fueling hiring expectations.
On a global scale, Spain lags behind the international average for hiring forecasts, standing 7 points below the global average of 26%. Leading countries include the Netherlands and India (37%), followed by the United States and Costa Rica (35%).
Salary Trends and Labor Reforms
- 55% of executives do not plan salary increases this year, indicating a cautious approach to operational cost management.
- 45% of executives intend to raise salaries, leveraging this as an incentive to attract and retain talent in a competitive labor market.
- Perceptions of labor reforms and new hiring models vary:
- 40% believe these reforms help reduce excessive temporary contracts and promote permanent hiring.
- 29% express concerns that over-regulation and lack of flexibility may hinder job creation.
Executive Demands for Public Support
Executives highlight the need for:
- Reduced taxes and fiscal burdens.
- Political and regulatory stability.
- Support measures for digital transformation and technology training.
These factors are deemed essential to fostering a climate favorable to investment and job creation.
Opportunities and Challenges Ahead
The hiring outlook for 2024 in Spain is optimistic, with half of executives expecting workforce expansion. This trend spans multiple sectors and regions, reflecting widespread confidence despite regional and sectoral variations. To capitalize on growth opportunities, businesses must prepare to navigate the complexities of an evolving labor market.
#Hiring2024 #Employment #HumanResources #Spain #LaborTrends #EconomicGrowth #LaborReforms #Salaries #onhunters
