Vaco's Latest Talent Pulse Report Reveals Declining Levels of Job Seeker and Employee Confidence in Q4

Dips in quarterly results are punctuated by bright spots in respondents' year-over-year confidence scores.

NASHVILLE, Tenn., Nov. 8, 2024 /PRNewswire/ -- Job seekers and employees are feeling slightly less confident about their job security, financial status, and career advancement in Q4, according to recent data from Vaco, a leading global talent solutions firm. Vaco's Q4 Vaco Talent Pulse Report found a drop in confidence compared to the third quarter of 2024. But confidence levels in both job security and financial status were higher compared to last year.

"In a year full of economic uncertainty and job market fluctuations, it's understandable that job seeker and employee confidence has diminished in the fourth quarter," said Kyle Allen, Executive Vice President of Sales & Recruiting at Vaco. "Many have faced layoffs, job shifts, or delays in career progression over the past several months, contributing to a sense of instability. However, as we approach year-end, we're seeing positive signs—including data that shows job seekers and employees are more confident now than at this time last year."

"The tide is beginning to turn in Q4. Organizations are making more strategic investments in talent and taking a measured approach to expanding their teams. Traditionally, the end of the year is a time when hiring slows as companies focus on finalizing budgets and preparing for the new year. This year, however, many companies are looking to add top talent—in both permanent and contract roles. It's a prime opportunity for job seekers to capitalize on the last hiring push of 2024," added Allen.

This marks the sixth installment of the Vaco Talent Pulse Report, and the second quarter that year-over-year comparative data is available. Key findings include:

Job Stability

• 41% of respondents reported extreme confidence in their ability to get and hold a job in Q4—up 3% year-over-year (38%) and down 4 points from Q3 (45%).
  
  
• The number of respondents who are not confident in their ability to secure a job saw a 6% increase quarter-over-quarter, jumping from 26% in Q3 to 32% in Q4—one of the largest upticks since the inception of the report.

Financial Status

• 41% of respondents are extremely confident in their ability to improve their financial situation in the next 6 months—up 4% year-over-year and down 3% from Q3.
  
  
• But 30% are not feeling confident in their ability to improve their financial situation—a 5% increase from last quarter (25%) and one-point drop from last year (31%).

Career Advancement

• 44% expressed extreme confidence in their ability to advance their career in Q4, a 3% dip compared to Q3 (47%) and a 2-point drop from a year ago (46%). This marks the lowest career advancement confidence level to date.
  
  
• In contrast, 28% of respondents reported a lack of confidence in their ability to advance their career in Q4. This figure is up 3% from last quarter (25%), as well as last year (25%).

The Vaco Talent Pulse Report is based on feedback from more than 13,000 respondents across the U.S. and Canada. To access the report, go to https://learn.vaco.com/talent-pulse-report-q4-2024/.

About the Q4 2024 Vaco Talent Pulse Report
Poll questions to inform the Q3 2024 Vaco Talent Pulse Report were administered online through Vaco's LinkedIn company profile on September 13, 2024, September 20, 2024, and September 27, 2024. Results and summaries are based on the 13,080 votes cast across the three polls. A highlight of follower demographics includes those from across the U.S. and Canada working in engineering, technology, accounting, finance, human resources, and operations. The majority of people represented are either senior, manager, director, VP, or entry-level.

About Vaco
The speed of change requires the talent of people. Vaco solves for both. With expertise in accounting and finance, IT and digital, and HR and operations, Vaco delivers critical talent solutions to clients by providing contract staffing, managed services, direct-hire staffing, and executive search services. In addition to Vaco, the Vaco Holdings collective of brands includes MorganFranklin Consulting, a finance, technology and business advisory firm; Pivot Point Consulting, a Best in KLAS healthcare IT consulting leader; Focus Search Partners, a retained and interim executive search practice; and BUILT, a digital solutions company specializing in software, cloud, data, and AI solutions. In addition to being named to Inc. magazine's list of the fastest-growing private companies for the past 17 years, Vaco was also named to Forbes' 2018-2024 lists of America's Best Recruiting Firms, as well as the 2017-2023 lists of Largest Staffing Firms Globally by Staffing Industry Analysts. Vaco annually ranks as one of the Best Staffing Firms to Work For. For more information, visit vaco.com.

Media Contact:
Brittney Kowalski
(603) 504-2024
[email protected]

SOURCE Vaco