It's perplexing: Companies are holding onto talent and hiring when they typically layoff talent
Despite such an uncertain outlook for the economy, many companies are still actively recruiting while they are also retaining and refusing to lay off workers.
Why are they doing this?
Some companies are hoarding talent in case a recession leads to labor shortages and talent shortages. Meanwhile, also hiring valuable talent for their teams that they can hold onto.
According to Bloomberg, while global unemployment will still rise over the next two years, payrolls will remain healthy as companies attempt to acquire and retain personnel in anticipation of a stronger economy.
Some employees are taking advantage of this crazy hiring spree and using job offers to get big raises from their employers. This article share the good and bad in doing this. We’ve seen this backfire, unfortunately, for individuals when layoffs, promotions, and reviews happen.