LONDON, January 3 /PRNewswire/ --
- Higher Paycheques, Flexible Work Arrangements, Candidate Screening Online Among Major Trends for 2008 -
CareerBuilder.co.uk, a leading job site in the UK, released the results of its annual job forecast, conducted by Harris Interactive(R), tracking projected hiring and job search activities for the upcoming quarter and 2008. The survey, titled "2008 UK Job Forecast" was conducted between November 14 and December 3, 2007 and included 281 hiring managers and human resource professionals and 507 workers.
"Looking ahead to 2008, recruitment trends are expected to continue," said Tony Roy, Managing Director of CareerBuilder.co.uk. "While analysts point to lower job creation in the New Year, employers are proceeding with caution, anticipating a slower, but still steady hiring environment. Thirty-seven per cent of employers said they plan to increase their number of full-time, permanent employees in 2008, down from 45 per cent at the same time last year."
Thirty-seven per cent of employers plan to increase their number of full-time, permanent employees in 2008. This compares to 45 per cent who anticipated increasing full-time permanent headcount in 2007. Ten per cent plan to decrease staff levels in 2008, while 40 per cent expect no change. Fourteen per cent are unsure.
Nineteen per cent of employers plan to increase their number of part-time employees in 2008, down from 30 per cent who expected to do so in 2007. Thirteen per cent plan to decrease headcount in 2008, while 51 per cent expect no change and 17 per cent are unsure.
Hiring By Job Level
When asked which job level employers will be recruiting for the most in 2008, 48 per cent of employers pointed to professional and technical staff members, while 20 per cent cited administrative/clerical positions. Six per cent will target management positions, including team leaders and directors.
Time-to-hire continues to be a challenge for employers as they compete for top performers for newly created positions and those left vacant by employee turnover. One-in-five (20%) employers report it typically takes them two months or longer to fill their open positions.
SEVEN MAJOR HIRING TRENDS FOR 2008
1. Bigger Paycheques
Continuing an existing trend designed to attract and retain top talent; employers plan to offer more lucrative compensation packages in the coming year.
-- Eighty-two per cent of employers report their companies will increase salaries for existing employees in 2008, similar to last year. Among employers increasing salaries for existing employees, sixty-six per cent expect to raise salaries up to three per cent for existing employees, while nearly one-in-four (19 per cent) anticipate increases of five per cent or more. -- Sixty-nine per cent of employers expect to increase salaries on initial offers to new employees, up from 55 per cent in 2007. Among employers increasing salaries on initial offers, thirty-five per cent will raise salaries up to three per cent, while 29 per cent anticipate increases of five per cent or more. Thirty-one per cent anticipate no increases.
2. More Flexible Work Arrangements
More companies today are providing employees with greater flexibility to maintain a better work-life balance. Fifty-seven per cent of employers report they currently offer flexible schedules to employees and 51 per cent will provide more flexible work arrangements in 2008. These arrangements include:
-- Alternate schedules - come in early and leave early or come in later and leave later - 69 per cent -- Job sharing - 40 per cent -- Compressed workweeks - work the same hours, but in fewer days - 39 per cent -- Telecommuting options - 28 per cent -- Sabbaticals - 23 per cent -- Decreased hours during the summer months - 22 per cent
3. Screening Candidates Via the Internet
To ensure they are recruiting the right talent, more employers are leveraging the Internet as a vehicle for screening potential employees.
-- Twelve per cent of employers report they always or usually use online job search engines and social networking sites to research job candidates while 29 per cent report they do so on occasion. -- Nearly one-in-five (19 per cent) say they are likely or very likely to start using or increase their use of these resources to research job candidates in 2008.
4. Rehiring Retirees
Three-in-ten workers report concern over the loss of intellectual capital at their organizations as a large number of workers approach retirement age.
-- Twenty per cent say they are likely to rehire retirees from other companies in 2008. Another 24 per cent are likely to provide incentives for workers at or approaching retirement age to stay on with the company longer. -- At the same time, some workers have expressed interest in postponing retirement. Four-in-ten employers report they have received requests from workers approaching retirement age to stay on with their company.
5. Diversity Recruitment
When asked if there is a particular segment of diverse workers they plan to target more aggressively in 2008, employers pointed to mature workers, Asians, Women and Gay/Lesbian workers.
-- Eighty-two per cent of employers report they will be placing the same or greater amount of emphasis on recruiting bilingual candidates in the next 12 months and 7 per cent said, in addition to English, French is the most important language for bilingual hiring followed by German and Polish at 6 per cent each.
6. Freelance or Contract Hiring
In the midst of economic uncertainties, employers are turning to freelance or contract workers to help support business initiatives as they monitor their pace in recruiting permanent employees.
-- Forty-one per cent of employers anticipate hiring freelancers or contractors in 2008.
7. Career Advancement
With 46 per cent stating that a company's ability to offer career advancement is more important than salary, employers are taking action to carve out career paths for employees.
-- Thirty-five per cent of employers are likely to provide more promotions and career advancement opportunities in 2008, given the shortage of workers that some companies are already experiencing.
HIRING AND COMPENSATION IN QUARTER ONE 2008
Forty-four per cent of employers say they increased their headcount during the last three months of 2007. Twelve per cent reduced headcount, while 44 per cent reported no change and less than one per cent were unsure.
Employers are expecting similar results for the upcoming quarter. Thirty-six per cent of employers plan to add full-time permanent employees in the first three months of 2008. Nine per cent will decrease headcount, while 49 per cent anticipate no change and 6 per cent are unsure.
With a large number of annual salary increases taking place in the first quarter, 70 per cent of employers expect to raise compensation levels in the next three months. Forty-one per cent plan to increase up to three per cent, while 23 per cent anticipate an average raise of five per cent or more.
This survey was conducted online within the UK by Harris Interactive on behalf of CareerBuilder UK among 281 hiring managers and human resource professionals (employed full-time; not self-employed; with at least significant involvement in hiring decisions; ); and 507 UK employees (employed full-time; not self-employed) ages 18 and over within the UK between November 14 and December 3, 2007, respectively. Figures for age, sex, and education were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents' propensity to be online.
With a pure probability sample of 281 and 507 and one could say with a ninety-five percent probability that the overall results have a sampling error of +/- 5.8 (hiring managers and human resource professionals) and +/- 4.4 (Employees) percentage points, respectively. Sampling error for data from sub-samples is higher and varies. However that does not take other sources of error into account. This online survey is not based on a probability sample and therefore no theoretical sampling error can be calculated. A full methodology is available upon request.
CareerBuilder UK is the second most visited online job site in the United Kingdom, with more than 1.1 million unique visitors in November 2007, according to comScore. Owned by Gannett Co., Inc. (NYSE: GCI), Tribune Company (NYSE: TRB), The McClatchy Company (NYSE: MNI) and Microsoft Corp. (Nasdaq: MSFT), CareerBuilder.co.uk powers the career centres for more than 160 individual UK sites that reach national, local, industry and niche audiences. Job seekers visit CareerBuilder.co.uk every month to search for opportunities by industry, location, company and job type, sign up for automatic e-mail job alerts, and get advice on job hunting and career management. For more information about CareerBuilder products and services, visit http://www.careerbuilder.co.uk.
Media Contact: Michael Erwin Senior Manager, Corporate Communications CareerBuilder.com +1-773-527-3637 Michael.Erwin@CareerBuilder.com
Web site: http://www.careerbuilder.co.uk
Michael Erwin, Senior Manager, Corporate Communications of CareerBuilder.com, +1-773-527-3637, Michael.Erwin@CareerBuilder.com