Benefits July 14, 2003

Survey: Exec Hiring Cools in 2003

July 14, 2003 (PLANSPONSOR.com) - The market for mid-to-upper level managers and professionals has cooled off after a slight surge earlier in the year.
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According to a survey by recruiter Management Recruiters International, 37.2% of the 536 executives surveyed plan to boost their staff during the second half of 2003, down by 8% from the first half of 2003. Another 55.1% plan to maintain their current staff sizes, up by 6.2% and 7.9% anticipate cutting their staff, up by 2%.

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The number of hiring executives may have dropped during 2003, but the responding executives don’t appear to have lost their optimism. More than six out of 10 (65.2%) said they look for a lasting turnaround within six months to a year. Their responses were based upon their observations of current conditions in their industries.

Although plans to hire vary greatly among industry sectors, a number of industries indicate plans to hire above the national average:

  • Consumer goods, 55.6%
  • Pharmaceuticals, 50%
  • Engineering, 40.5%
  • Finance, 40%
  • Healthcare, 36.6%
  • Manufacturing, 36.6%

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