Dice Holdings Inc.

Dice
Sourceforge
Slashdot
The IT Job Board
ClearanceJobs
eFinancialCareers
RigzoneOilCareersHEALTHeCAREERSHealth CallingsHcareersBiospace

Investor Tool Kit

Printer Friendly Version   Printer-friendly version
E-mail this page  E-mail this page
RSS   RSS Feeds
E-mail Alerts Receive E-mail Alerts

Dice Holdings, Inc. Home  > Press Release

Press Release

Printer Friendly Version View printer-friendly version
<< Back
Hiring Managers Indicate Rebound in Employment Far from Certain According to Dice Holdings, Inc. Survey

Three in four companies have scaled back hiring plans for the next six months

NEW YORK, June 2 /PRNewswire-FirstCall/ -- The country's gatekeepers to new job creation are standing pat on making hires for the remainder of 2009, finds Dice Holdings' mid-year survey of hiring managers and recruiters. In fact, Dice Holdings, Inc. (NYSE: DHX), a leading provider of specialized career websites for professional communities, finds that 74 percent of recruiters and hiring managers have scaled back their hiring plans for the next six months due to the current economy.

"These results reflect what we hear from our customers on a daily basis," said Scot Melland, Chairman, President and CEO of Dice Holdings. "While hiring managers and recruiters generally believe the economy is no longer falling off a cliff, these survey results indicate that employers have yet to take the tangible steps which will improve the labor market."

According to the survey, "not sure" is the number one response (36%) to the question of when hiring levels will return to normal. More respondents were willing to specify a timeframe in this survey than six months ago, with the largest group (31%) choosing the first half of 2010 for hiring to normalize.

At the same time, nearly a third of respondents (31%) believe that layoffs are likely in the next six months. Most surprisingly, that result is down just slightly from the 34 percent of respondents who expected job cuts at the end of 2008, despite the speed and the scope of the job cuts already taken this year.

It's clear the impact of this recession is still playing out in the labor market as nearly 60 percent of respondents report substantial increases in the number of candidates applying for jobs. In addition, the time to fill open positions is lengthening for 32 percent of respondents. Of that group, more than half (59%) attribute this to caution related to the economy and almost a quarter (23%) cite less urgency to fill open positions.

The slack demand and surge in qualified candidates allows companies with hiring plans to tap individuals at advantageous compensation levels. For new hires, 89 percent of respondents indicate their offers will be at the same (51%) or lower salaries (38%) as compared to a year ago.

"Companies need to figure out smart ways to balance workforce needs with budgetary constraints," said Melland. "If not, when the economy turns upward - and it will - employers will be faced with the risk of an exodus of talent. There may be few green shoots in today's labor market, but professionals understand and act quickly when green grass is right around the corner."

About the survey

From May 18 to May 22, 2009, Dice Holdings surveyed U.S. companies and recruiting firms from every region of the country who hire or recruit a variety of professionals. Nearly 1,900 responded to the email survey with 80 percent identified as companies that recruit for their own needs. Of that group, nearly 40 percent had more than 500 employees.

    Survey Results

    Table 1:  Has the current economic environment caused you or your clients
    to scale back hiring plans for the next six months?

                              May 2009            November 2008
    Yes, substantially           36%                   29%
    Yes, slightly                38%                   38%
    No                           22%                   27%
    I'm not sure                  4%                    6%

    Table 2:  When do you envision that your hiring or your clients' hiring
    will return to normal levels?

    Second half of 2009                                               10%
    First half of 2010                                                31%
    Second half of 2010                                               19%
    First half of 2011                                                 4%
    Not sure - we'll have to wait and see how the economy evolves     36%

    Table 3:  How likely do you think layoffs are in the next six months at
    your organization, or if you are a recruiter at your clients'
    organizations?

                              May 2009            November 2008
    Very likely                  10%                   13%
    Likely                       21%                   21%
    Not likely                   52%                   47%
    I don't know                 17%                   19%

    Table 4:  Are you seeing an increase in the number of candidates applying
    for positions as compared to six months ago?

                              May 2009            November 2008
    Yes, significantly           59%                   35%
    Yes, but slightly            28%                   36%
    No                           13%                   29%

    Table 5:  If you or your clients have positions to fill, has the time to
    fill open positions changed relative to last year?

    Yes, it has substantially lengthened                              14%
    Yes, it has slightly lengthened                                   18%
    No                                                                44%
    Yes, it has slightly shortened                                    20%
    Yes, it has substantially shortened                                4%

    Table 6:  What best describes the reason for time to fill lengthening?

    There is no urgency to fill open positions                        23%
    Caution related to the economy                                    59%
    Inability to find qualified professionals to fill open positions  14%
    I don't know                                                       4%

    Table 7:  What trend do you see in salaries for new hires?

                                                    May 2009    November 2008
    They are significantly higher than last year       2%              1%
    They are slightly higher than last year            9%             22%
    They are the same as last year                    51%             62%
    They are slightly less than last year             31%             13%
    They are significantly less than last year         7%              2%

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, accounting and finance, 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 18 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.

SOURCE Dice Holdings, Inc.

CONTACT: Jennifer Bewley of Dice Holdings, Inc.,
+1-212-448-8288, dicemedia@dice.com; or
Kona Luseni, +1-212-508-9684, kluseni@makovsky.com, or
Jonathan Blank, +1-212-508-9615, jblank@makovsky.com,
both of Makovsky + Company/

Web Site: http://www.diceholdingsinc.com
(DHX)