NEW QUARTERLY EMPLOYMENT REPORT TRACKS HIRING IN PROFESSIONAL OCCUPATIONS
Executives Surveyed Express Confidence in Business Growth; Some Report Recruiting Difficulties
MENLO PARK, CA -- With all eyes focused on job creation, a new survey that tracks professional employment offers a bit of good news for the upcoming quarter. Ten percent of executives interviewed for The Robert Half Professional Employment Report said they plan to increase the number of full-time employees in professional occupations in the second quarter, and 6 percent anticipate declines. The result is a net 4 percent of respondents who plan to add staff in the coming three months. Eighty-two percent of executives interviewed expressed confidence in their companies’ prospects for growth in the next quarter.
The Robert Half Professional Employment Report is the first quarterly executive survey of its size and scope to focus exclusively on professional-level hiring. The survey is based on telephone interviews with more than 4,000 executives throughout the United States about their hiring plans for the upcoming quarter. Among the respondents are chief financial officers (CFOs), chief information officers (CIOs), senior human resources (HR) managers, attorneys, and advertising and marketing executives. Respondents offered their views on hiring plans within their respective fields and the challenge of finding skilled professionals. The survey also measures executives’ confidence in their companies’ prospects for growth in the second quarter of 2010. Robert Half has been reporting employment data through its Hiring Index program since 1992. For additional information, please visit www.roberthalf.us/per.
“We developed this report to monitor hiring trends within professional occupations, since the employment situation in this segment can sometimes differ from the general job market,” said Max Messmer, chairman and CEO of Robert Half International. “For example, in recent years, the U.S. unemployment rate for workers with college degrees has been about half that of the overall unemployment rate.”
Messmer noted that the second-quarter projections may indicate companies are cautiously rebuilding. “Many firms, especially those that found they cut staff too aggressively during the worst of the recession, may need to add personnel at the first sign of a pickup in business,” he said. “Business development, IT, finance, legal, HR, marketing and other professionals are critical to the ability of companies to respond to a rise in customer demand. Some companies are adding temporary professionals to handle shorter-term needs and hiring selectively for roles they feel require full-time professionals.”
Professional-Level Hiring -- By Industry
“As the financial services industry rebounds, firms in this sector are adding staff, ranging from IT professionals to financial analysts, to keep pace with work volume,” said Brett Good, a Robert Half International district president. “Companies particularly need people who can analyze risk and ensure compliance with government accounting mandates.”
Professional-Level Hiring -- By Region
Professional-Level Hiring -- By Field
“Hiring in the legal profession is likely a result of unusually large-scale downsizings by many law firms in the early months of the recession,” said Good. “Consequently, a number of firms are now in a position where they must hire to keep pace with client demands. The downturn also has had a stimulative effect on certain practice areas, such as bankruptcy and foreclosure law, fueling hiring by law firms focusing on these specialties.”
A net 10 percent of HR executives said their companies plan to hire sales and business development staff. In addition, a net 5 percent of CIOs interviewed expect to increase their IT personnel.
1. IA, KS, MN, MO, NE, ND, SD