More Jobs on the Agenda as Hiring Gathers Momentum, Finds Dice Holdings Survey
NEW YORK, June 1 /PRNewswire-FirstCall/ — The majority of employers and recruiters (52%) anticipate hiring more career professionals in the second half of 2010 than they did in the first half of the year, according to a new survey by Dice Holdings, Inc. (NYSE: DHX), a leading provider of specialized career websites for professional communities. And of those intending to make more hires, nearly half (49%) project they will add up to 10 percent more employees compared with the first half of 2010, while 28 percent plan to increase hiring by 11-20 percent.
More employers and recruiters (26%) report the time it takes to fill new positions is starting to shorten slightly (21%) or substantially (5%). Although still a minority, this is the strongest reading since the survey began two years ago. One of the key reasons: an increase in recruiting for new positions, cited by 20 percent of respondents, up from nine percent last November, indicating a greater urgency to build staff.
“Businesses seem to be gradually loosening their grip on the hiring process as the economy improves,” said Scot Melland, Chairman, President and CEO of Dice Holdings, Inc. “At the same time, professionals are more willing to jump ship now. As the employment cycle strengthens, companies are likely to find it more challenging to keep their top talent.”
Broad-based improvement in recruitment activity was evident throughout the survey. A quarter of employers and recruiters see salaries for new hires rising, compared to just 10 percent reporting salary increases for new hires six months ago. Additionally, nearly seven in ten of those surveyed (69%) believe that layoffs are not likely to occur at their companies within the next six months, an improvement over 61 percent reporting that last November. Finally, a full one-third of employers and recruiters are seeing flat or declining numbers of candidates applying for positions, compared to just 17 percent six months ago.
When it comes to experience, more companies are reporting hiring both at the entry level and for seasoned professionals (10+ years experience) than six months ago. Although, the strongest demand is for those professionals in between, with 2 to 10 years experience. That result has been consistent over the last two years. Nearly half (49%) of employers and recruiters expect an average tenure of three to five years for new hires, and 43 percent believe that voluntary departures will increase this year.
“We expect employers to remain guarded about the economy’s recovery, however the positive trends demonstrate that job market continues to improve,” added Mr. Melland.
About the survey
From May 20 to May 24, 2010, Dice Holdings surveyed U.S. companies, government entities and recruiting firms from every region of the country who hire or recruit a variety of professionals. Nearly 800 responded to the email survey with 74 percent identified as companies that recruit for their own needs. Of that group, nearly half had more than 500 employees.
Table 1: Do you anticipate you or your clients hiring more professionals in the second half of 2010 than the first half of the year?
Yes, substantially 10% Yes, slightly 42% No 48%
Table 2: How many more professionals do you intend to hire in the second half of the year vs. the first half?
1-10% more 49% 11-20% more 28% 21-30% more 15% 31-40% more 4% 41-50% more 3% More than 50% 1%
Table 3: If you or your clients have positions to fill, has the time to fill open position changed relative to last year?
May 2010 November 2009 -------- ------------- Yes, it has substantially lengthened 12% 16% Yes, it has slightly lengthened 20% 24% No 42% 40% Yes, it has slightly shortened 21% 16% Yes, it has substantially shortened 5% 4%
Table 4: What best describes the reason for the time to fill shortening?
May 2010 November 2009 -------- ------------- Companies are back filling open positions 13% 12% Companies are recruiting for new positions 20% 9% Companies are relaxing stringent requirements for candidates 3% 1% Easier to find qualified professionals 57% 72% I don't know 7% 6%
Table 5: What trend do you see in salaries for new hires?
May 2010 November 2009 -------- ------------- They are significantly higher than last year 2% 1% They are slightly higher than last year 23% 9% They are the same as last year 53% 55% They are slightly less than last year 18% 29% They are significantly less than last year 4% 6%
Table 6: How likely do you think layoffs are in the next six months at your organization, or if you are a recruiter at your client’s organization?
May 2010 November 2009 -------- ------------- Very likely 3% 8% Likely 12% 16% Not Likely 69% 61% I don't know 16% 15%
Table 7: Are you seeing an increase in the number of candidates applying for positions as compared to six months ago?
May 2010 November 2009 -------- ------------- Yes, significantly 31% 54% Yes, but slightly 36% 29% No 33% 17%
About Dice Holdings, Inc.
Dice Holdings, Inc. (NYSE: DHX) is a leading provider of specialized career websites for professional communities, including technology and engineering, financial services, energy, healthcare, and security clearance. Our mission is to help our customers source and hire the most qualified professionals in select and highly skilled occupations, and to help those professionals find the best job opportunities in their respective fields and further their careers. For more than 19 years, we have built our company by providing our customers with quick and easy access to high-quality, unique professional communities and offering those communities access to highly relevant career opportunities and information. Today, we serve multiple markets primarily in North America, Europe, the Middle East, Asia and Australia.
Dice Holdings, Inc. Jennifer Bewley, 212-448-8288 firstname.lastname@example.org - or - Makovsky + Company Kona Luseni, 212-508-9684 email@example.com
SOURCE Dice Holdings, Inc.