According to a recent "job loss risk index" by The Conference Board, jobs in information services are most at risk of being lost in the next few months. The index factors in six criteria to determine each industry's layoff risk, including exposure to labor shortages, monetary policy sensitivity, job function and education levels required, pandemic recovery state, labor demand trends, and workforce age composition and experience.
Information services jobs are most vulnerable due to rapid headcount expansion during the pandemic and high sensitivity to interest rate hikes. However, the report notes that these employees are being rehired quickly across other sectors, so they are not reflected in unemployment numbers. Sectors with the lowest risk of layoffs in a potential recession include government, private education services, health care, and accommodation and food services.
The report also indicates that HR leaders are optimistic about hiring and retaining employees in the next six months, but there is a disconnect between employees and HR leaders when it comes to engagement levels. HR leaders should focus on making employees feel included and motivated by their work to ensure productivity and engagement.