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)
