A recruitment agency says firms are not likely to employ new people this year, but could consider those seeking lower entry salaries.
Corporate Staffing Services, in a report titled Trends, Challenges and Future Outlook, says employers expect disruptions during the electioneering period, which will make them reluctant to hire.
“Firms do not expect to set up new businesses and are not willing to commit resources to recruiting new talent to position their business,” says the report.
The study, which polled 892 human resource professionals spread across more than 12 sectors, found that the labour market is flooded, allowing firms to offer less to new employees.
“Most of the employers surveyed indicated that they will not be increasing staff compensation because they believe they are paying market rates,” says the report.