Annual Study From Robert Half International and CareerBuilder Provides Preview of Post-Recession Job Market
August 25 2009 - 6:00AM
PR Newswire (US)
Key Findings: - In the next 12 months, more than half of employers
polled plan to hire full-time employees, four in 10 will hire
contract, temporary or project workers, and four in 10 will hire
part-time employees. - Technology, customer service and sales are
the top three areas in which employers expect to add jobs first
once the economy rebounds. - The average time to fill open
positions, depending on the job level, is 4.5 to 14.4 weeks, the
same time range as last year. - Despite an abundant labor pool, six
in 10 employers are willing to negotiate with qualified candidates
for higher compensation. - Four in 10 employers expect the American
Recovery and Reinvestment Act of 2009 to create jobs in their
organizations over the next two years. - More than half of
employees polled plan to make a career change or go back to school
when the economy recovers. - Forty percent of hiring managers said
that when the economy improves, giving pay raises will be their
primary method for retaining top performers. MENLO PARK, Calif.,
and CHICAGO, Aug. 25 /PRNewswire/ -- The economy has posed many
challenges for businesses - including the need to make sure they
are prepared for the upturn. According to a new survey, managers
are planning to hire a combination of workers to support both long-
and short-term initiatives. Fifty-three percent of employers expect
to hire full-time employees over the next 12 months while 40
percent will hire contract, temporary or project professionals and
39 percent will add part-time employees. Now in its fifth year, the
Employment Dynamics and Growth Expectations (EDGE) Report provides
an overview of the current employment situation, as well as a
glimpse of the future hiring landscape. The report offers
information on what types of professionals employers will be
looking for when economic conditions improve and the strategies
businesses plan to implement to recruit and retain talent. The EDGE
Report is based on an annual survey by Robert Half International,
the world's first and largest specialized staffing firm, and
CareerBuilder, the global leader in human capital solutions. More
than 500 hiring managers and 500 workers participated in the study,
which was conducted by International Communications Research from
April 30 to May 31, 2009. "Companies already are identifying the
key skill sets they will need in new hires to take advantage of the
opportunities presented by improving economic conditions," said Max
Messmer, chairman and CEO of Robert Half International. "Firms that
cut staffing levels too deeply may need to do significant
rebuilding once the recovery takes hold." Where Jobs Will Be Added
First Customer-facing roles are indispensable in good times and
bad. In the current economy, hiring managers consider customer
service the function most critical to their organization's success,
followed by sales, marketing/creative and technology. Public
relations/communications, business development and
accounting/finance round out the list. Looking ahead, respondents
cited technology, customer service and sales as the departments
that will add positions first. Marketing/creative, business
development, human resources and accounting/finance also were
cited. When the pace of hiring begins to accelerate, entry- and
staff-level workers can expect to benefit the most in terms of new
opportunities. Thirty-two percent of hiring managers plan to hire
staff-level professionals, while 28 percent will hire entry-level
workers. Companies may be looking to restore positions affected by
layoffs or hiring freezes while continuing to rely on existing
staff to occupy leadership positions. Because companies are
operating with fewer resources, hiring managers further appreciate
the value of team members who can wear many hats. Asked to identify
the most valuable characteristics in an ideal new hire, employers
cited multitasking, initiative and creative problem-solving.
Continued Challenges in Recruitment and the Impact on Compensation
Despite high unemployment rates across the United States and an
expanded pool of available talent, employers continue to report
difficulty locating skilled professionals for open positions.
Employers said that, on average, 44 percent of resumes they receive
are from unqualified candidates. Forty-seven percent of hiring
managers cited under-qualified applicants as their most common
hiring challenge, followed by the reluctance of qualified
candidates to leave secure positions (22 percent). As they lay the
ground work for growth in their organizations, employers are open
to paying more for hard-to-find talent. Sixty-one percent of hiring
managers said their companies are willing to negotiate higher
compensation for qualified candidates. What employers are unwilling
to do is accelerate the hiring process. The average time it takes
to recruit a new full-time employee is the same range as this time
last year: 4.5 to 14.4 weeks. In addition to spending time
reviewing and screening out a high volume of resumes from
unqualified applicants, employers also are more carefully
evaluating those job candidates who are invited for interviews in
order to avoid costly hiring mistakes. Holding on to Talent: Money
Talks "As businesses look to the future, they also have to consider
how tough decisions made during the financial crisis have impacted
job satisfaction and loyalty of their current staff members," said
Matt Ferguson, CEO of CareerBuilder. "Fifty-five percent of workers
plan to make a career change, seek out new employers or go back to
school once the economic recovery is underway. In addition to
competitive pay and benefits, showing a committed investment in the
professional development of employees will play a key part in
retaining critical talent." Nearly half of workers polled (49
percent) said that after the economy improves, the most effective
way to keep them on board will be pay increases. In fact, 28
percent plan to ask for a raise. Employers seem amenable, with 40
percent stating that increasing pay will be their primary method
for retaining top performers. Another 20 percent of employees said
they hope for better benefits and perks once the economy turns
around. The top perks workers expect are technology upgrades,
followed by tuition reimbursement or subsidized training. Survey
Methodology This survey was conducted by International
Communications Research on behalf of Robert Half International and
CareerBuilder among more than 500 employers (employed full-time;
have employees who work for them if self-employed; involvement in
hiring decisions) and more than 500 employees (employed full-time;
not self-employed; no involvement in hiring decisions) ages 18 and
over within the United States between April 30 and May 31, 2009.
About Robert Half International Founded in 1948, Robert Half
International (NYSE:RHI) is the world's first and largest
specialized staffing firm, with more than 360 offices worldwide.
The company's professional staffing divisions include Accountemps ,
Robert Half Finance & Accounting and Robert Half Management
Resources, for temporary, full-time and senior-level project
professionals, respectively, in the fields of accounting and
finance; OfficeTeam , for highly skilled office and administrative
support professionals; Robert Half Technology, for information
technology professionals; Robert Half Legal, for project and
full-time staffing of attorneys, paralegals and legal support
personnel; and The Creative Group , for creative, advertising,
marketing, web and public relations professionals. For more
information about the specialized staffing and recruitment
divisions of Robert Half International, visit http://www.rhi.com/.
About CareerBuilder CareerBuilder is the global leader in human
capital solutions, helping companies target and attract their most
important asset - their people. Its online career site,
CareerBuilder.com , is the largest in the United States with more
than 23 million unique visitors, 1 million jobs and 32 million
resumes. CareerBuilder works with the world's top employers,
providing resources for everything from employment branding and
data analysis to talent acquisition. More than 9,000 websites,
including 140 newspapers and broadband portals such as MSN and AOL,
feature CareerBuilder's proprietary job search technology on their
career sites. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune
Company, The McClatchy Company (NYSE:MNI) and Microsoft Corp.
(NASDAQ:MSFT), CareerBuilder and its subsidiaries operate in the
United States, Europe, Canada and Asia. For more information, visit
http://www.careerbuilder.com/. Note to Editor: Members of the media
can download a copy of The EDGE Report at
http://www.rhi.com/EDGEReport2009Media. Readers can learn more
about The EDGE Report and request a free copy at
http://www.rhi.com/EDGEReport2009. Media Contacts: CareerBuilder
Jennifer Grasz 773-527-1164 http://www.twitter.com/CareerBuilderPR
Robert Half International Michael Weiss 650-234-6383
http://twitter.com/MichaelWeissRHI DATASOURCE: Career Builder,
Inc.; Robert Half International CONTACT: Jennifer Grasz of
CareerBuilder, +1-773-527-1164, ; or Michael Weiss of Robert Half
International, +1-650-234-6383, Web Site:
http://www.careerbuilder.com/ http://www.rhi.com/
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