If there is one person who knows what's going on behind the scenes in your company, it's Mary Corrado. She's the president and CEO of The American Society of Employers, and keeps track of Michigan companies. Here's her business outlook for the next few months:
The Michigan business outlook projected into 2016 is positive, with 34% of recent survey respondents expecting improvement, 55% expecting no change from the previous 6 months and only 11% expecting business conditions to worsen
Employment outlook for next 6 months: 59% of Michigan companies surveyed expect hiring levels to stay the same, 26% expect to increase hiring, 7% cite a hiring freeze and 8% expect decreased hiring compared to the previous 6 months.
The Top 3 reasons for voluntary separation (removing personal reasons) are: No advancement or promotion opportunities, relocation and compensation
Top 3 reasons why companies are hiring: turnover, retirements and newly created jobs
Top 4 challenges to businesses: competition, skilled labor shortage, technical staff shortage, ability to pay competitive wages
Michigan merit increase budgets have remained at the 3% increase level since 2014, indicating this may be the new standard raise for good performers