Amid hiring freezes, HR leaders turn to internal mobility and upskilling

Core Insights - HR professionals are shifting focus towards internal mobility and skills-based development due to lower turnover rates and hiring freezes [1][2][3] Group 1: Hiring Trends - Quit rates have decreased to 2%, prompting HR teams to prioritize internal reskilling and workforce redeployment over external hiring [2] - The U.S. job market is showing signs of stagnation, with only 22,000 jobs added in August and a revision indicating a loss of 13,000 jobs in June [3] - A significant number of CHROs expect to reduce hiring in the next six months, with 66% of HR managers reporting hiring freezes [4] Group 2: Hiring Freezes - Among those with hiring freezes, 36% have paused all entry-level hiring, 30% have halted mid-level hiring, and 25% have stopped leadership hiring [5] - Nearly half of HR managers anticipate recruitment will remain paused for the next 12 months, with 16% projecting a two-year pause [5] Group 3: Reasons for Hiring Freezes - Hiring freezes are primarily due to cost reductions, economic uncertainty, and organizational restructuring [6] - HR managers are also facing board pressure to limit headcount and are adapting to automation that reduces the need for new roles [6] Group 4: Workforce Development - In response to hiring freezes, HR managers are focusing on reviewing career frameworks and enhancing employee engagement [7] - 43% of HR managers are upskilling their workforce, particularly in digital skills, risk management, cybersecurity, and leadership [7]