If your company is adding or filling open jobs in the next few months, you may be in a good position to grab the best available talent before your competitors.

Fewer companies will be hiring in the coming months, because of the economic downturn. More than 60% of organizations say they’re either very likely or somewhat likely to freeze hiring soon, according to a survey by Towers Perrin conducted at the end of October.

Layoff plans are less common but still looming — 48% of companies are likely to implement a targeted headcount reduction (for example, focusing on low performers and those in the least critical roles).

On the other hand, only 8% are very likely to reduce their workforce by 10% or more, with another 8% somewhat likely.

Tags: Economy, hiring freeze, recession, reduction in force