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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.
Reported by Fred Schneyer
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%.
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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