Hiring in the mid-market has cooled off since fall 2014, in line with broader US employment trends, according to Deloitte’s Mid-Market Perspectives: 2015 Report on America’s Economic Engine. Some 55% of midmarket executives reported increases in their domestic, full-time workforce over the past 12 months. However, the number of midmarket executives who plan to hire in the coming year fell to 58% from 63% in fall 2014.

As hiring stabilizes, the report found mid-market executives are simultaneously challenged with two issues impacting their current employee base: lack of trust and increasing turnover rates. In fact, midmarket executives cite employees as the group least likely to have high levels of trust in their business. At the same time, the 62% say there’s been an increase in voluntary turnover in the past year.

Midmarket companies now turn their attention to engaging and retaining current employees, with 32% of midmarket executives planning to increase compensation in the coming year, up from 23% with similar plans in fall of last year. More than half, 52%, highlighted training as a top talent priority.

“Given the tight labor market, re-instilling employee trust and incentivizing workers will be critical to both combat rising attrition rates and prepare the midmarket for the next stage of growth,” said Roger Nanney, vice chairman, Deloitte LLP, and national managing partner of Deloitte Growth Enterprise Services. “The good news is that midmarket companies appear to be taking measured steps to tackle challenges, build on their success and stay ahead of the competition.”

The Deloitte survey was conducted by market research firm OnResearch from April 7 to April 16, 2015. It polled 525 executives at US midmarket companies with annual revenues between $50 million and $1 billion.