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60% of Companies Have Hired Employees During the COVID-19 Pandemic Despite Economic Downturn

by The Manifest on

Sixty percent (60%) of companies have hired at least one employee since the beginning of the pandemic, according to new research from The Manifest, a business news and how-to website. The hiring trend persists for companies, despite COVID-19’s negative effect on the job market, with the unemployment rate currently hovering around 10.2%.

Nearly half of companies (46%) have hired 10 or more employees since the pandemic’s start – a surprising phenomenon in the new era of remote work and virtual onboarding.

New data from The Manifest reveals that nearly half of companies have hired 10 or more employees during COVID-19.
New data from The Manifest reveals that nearly half of companies have hired 10 or more employees during COVID-19.
Few HR professionals expect their employees to leave within the next year, according to The Manifest's new study.
Few HR professionals expect their employees to leave within the next year, according to The Manifest’s new study.

One reason to hire new employees in groups is to keep training and onboarding efficient. “Onboarding in groups is much more efficient and less time-consuming,” said Allan Borch, founder of DotcomDollar.

While group onboarding can feel impersonal, companies can use multiple communication channels to build connections, such as video calls with new hires.

Employees Likely to Stay With Current Company Due to Economic Uncertainty

More than sixty percent of HR professionals (61%) expect new hires to stay at their company for two or more years, according to The Manifest’ study. This finding aligns with the Bureau of Labor Statistics’ 2018 report that the average time wage or salary workers stay at their position was 4.2 years.

The economic uncertainty caused by the pandemic could raise the average number of years an employee spends at a company.

In fact, only 3% of HR professionals expect more than one-third of their workforce to quit within the next year.

Increased employee retention helps improve company morale and culture.

Work-Life Balance Affects Employee Retention

More than one-third of HR professionals surveyed (37%) say that employees are likely to leave their company within the next year due to work-life imbalance.

Within the constraints of the remote age, creating a work-life balance is both more difficult and more essential than ever before. The COVID-19 pandemic has resulted in increased availability for many employees. Businesses should look to strike a balance between effectively using remote workers and ensuring their mental and physical health.

As companies continue hiring during the remote work age, they can employ creative tactics to effectively onboard new employees.

The Manifest’s survey included 500 HR professionals in the U.S. and 234 additional employees.

Read the full report here: https://themanifest.com/hr/hiring-trends-4-tips-onboard-new-employees-remotely.

For questions about the survey, comment on the findings, or an introduction to the industry experts included in the report, contact Abby Saldana at 245844@email4pr.com.

About The Manifest
The Manifest is a business news and how-to website that compiles and analyzes practical business wisdom for innovators, entrepreneurs, and small and mid-market businesses. Use The Manifest as an approachable tour guide through every stage of the buyer journey. With three main offerings – data-driven benchmarks, step-by-step guides, and agency shortlists – The Manifest strives to make your business goals a reality.