Cautious, But Steady Hiring Expected for Q4, According to CareerBuilder.com and USA TODAY Survey
October 03 2007 - 6:00AM
PR Newswire (US)
CHICAGO, Oct. 3 /PRNewswire/ -- CareerBuilder.com, the nation's
largest online job site, and USA TODAY released the results of
their latest survey, conducted by Harris Interactive(R), tracking
projected hiring trends for the fourth quarter of 2007. The survey,
titled "Q4 2007 Job Forecast," was conducted from August 10 through
September 4, 2007 of more than 2,700 hiring managers and human
resource professionals in private sector companies. "Given the
housing slump and tight credit market, caution is to be expected
when it comes to hiring in the fourth quarter," said Matt Ferguson,
CEO of CareerBuilder.com. "While employers are keeping a watchful
eye on economic indicators, they are still planning to expand
staffs at a steady pace and are actively competing for qualified
labor. Forty-four percent of employers said they currently have
open positions for which they cannot find qualified candidates."
One-in-four employers (27 percent) report they will add new
employees in the fourth quarter. Six percent expect a decrease in
staff levels while 62 percent anticipate no change and five percent
are unsure. HIRING BY REGION Consistent with previous surveys,
hiring activity is expected to remain strongest in the South and
West. Twenty-six percent of employers in the West and 31 percent in
the South plan to increase their staff levels compared to 23
percent in the Northeast and Midwest. Plans to reduce headcount
ranked highest in the Midwest at 7 percent, followed by the
Northeast and South at 6 percent and the West at 5 percent. HIRING
BY COMPANY SIZE Hiring is expected across all company sizes, from
small and medium-sized businesses to larger corporations.
Thirty-two percent of organizations with more than 1,000 employees
plan to recruit new staff members. Twenty-six percent of employers
with 501 to 1,000 employers and 30 percent of those with 251 to 500
employees also plan to recruit. Comparatively smaller organizations
will be doing their part with 27 percent of organizations with 51
to 250 employees and 19 percent of those with 50 employees or less
anticipating an increase in staff levels. HIRING BY INDUSTRY
Comparing select industries, 35 percent of banking/finance, 34
percent of retail and 33 percent of sales employers expect to
recruit new staff members in the fourth quarter, followed by 32
percent in information technology and 29 percent in both large
healthcare (with over 50 employees) and hospitality organizations.
COMPENSATION IN Q4 2007 "The shortage of skilled workers has
inspired more generous offers to job candidates and has resulted in
companies holding on to existing employees who aren't necessarily
top performers," said Ferguson. "Twenty-seven percent of employers
say they are currently retaining workers whom they otherwise
wouldn't due to performance issues or a slowdown in work. In Q4,
employers are ramping up their departments for the coming year and
are likely to pay a higher price to attract and retain the right
talent." The majority of employers plan to increase salaries in the
fourth quarter. Compared to the same time last year, 39 percent of
employers say salaries for permanent, full-time employees will be 1
to 3 percent higher, while 22 percent estimate 4 to 5 percent. Six
percent of employers say raises will range from 6 to 10 percent.
Twenty-four percent of employers anticipate no change in
compensation levels while 1 percent anticipate a decrease and 5
percent are unsure. Survey Methodology This survey was conducted
online within the United States by Harris Interactive on behalf of
CareerBuilder.com among 2,929 hiring managers and human resource
professionals (employed full-time; not self-employed; with at least
significant involvement in hiring decisions) ages 18 and over
between August 10 and September 4, 2007 (percentages for some
questions are based on a subset of either 2,793 or 2,865 hiring
managers, based on their responses to certain questions). Figures
for age, sex, race/ethnicity, education, region and household
income, as well as industry and company size, were weighted where
necessary to bring them into line with their actual proportions in
the population. Propensity score weighting was also used to adjust
for respondents' propensity to be online. With a pure probability
sample of 2,929, one could say with a ninety-five percent
probability that the overall results have a sampling error of +/-2
percentage points. Sampling error for data from sub-samples is
higher and varies. However that does not take other sources of
error into account. This online survey is not based on a
probability sample and therefore no theoretical sampling error can
be calculated. About CareerBuilder.com CareerBuilder.com is the
nation's largest online job site with more than 22 million unique
visitors and over 1.5 million jobs. Owned by Gannett Co., Inc.
(NYSE:GCI), Tribune Company (NYSE:TRB), The McClatchy Company
(NYSE:MNI) and Microsoft Corp. (NASDAQ:MSFT), the company offers a
vast online and print network to help job seekers connect with
employers. CareerBuilder.com powers the career centers for more
than 1,100 partners, including 150 newspapers and leading portals
such as America Online and MSN. More than 300,000 employers take
advantage of CareerBuilder.com's easy job postings, 23 million-plus
resumes, Diversity Channel and more. CareerBuilder.com and its
subsidiaries operate in the U.S., Europe, Canada and Asia. For more
information, visit http://www.careerbuilder.com/. Media Contact:
Jennifer Sullivan 773-527-1164 DATASOURCE: CareerBuilder.com
CONTACT: Jennifer Sullivan of CareerBuilder.com, +1-773-527-1164,
Web site: http://www.careerbuilder.com/
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