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SOURCE Dice Holdings, Inc.
U.S. economy sparks an increase in hiring plans for the second half of 2014 after first quarter slowdown
NEW YORK, June 3, 2014 /PRNewswire/ -- More hiring managers say the U.S. economy has sparked an increase in hiring plans for the second half of 2014, despite the slowdown registered by gross domestic product in the first quarter, according to the national hiring survey conducted by Dice Holdings, Inc. (NYSE: DHX), a leading provider of specialized websites for professional communities.
Twenty-eight percent of respondents said current conditions have changed their hiring plans for the better, which compares to 22 percent who felt that way about the economy's impact on hiring plans for the first half of this year.
Even if there hasn't been a recent change in plans, the outlook is still strong. A majority of hiring managers and recruiters (56%) indicated they would be hiring more professionals in the second half of 2014, than they did in the first half of the year. That closely matches the percent of respondents (55%) who were similarly optimistic about the start of the year, which was a record.
"The positive hiring intentions reveal businesses are optimistic and confident in opportunities for growth, despite the disappointing contraction in GDP to start the year," said Michael Durney, President and CEO, Dice Holdings, Inc. "The ongoing increase in recruitment plans indicates a stronger economic environment."
America's hiring managers are reporting the tightest job market in years. Only 11 percent of hiring managers said there was a likelihood of layoffs in the next six months – the lowest ever reported number since the Dice national hiring survey began in 2008. For professionals who have chosen to leave a company in 2014, 43 percent of corporate hiring managers said they hated to see the majority of them leave. And, replacing those positions and recruiting for new positions is getting tougher; 57 percent of respondents noted they are not seeing an increase in job applicants.
When they do find talent, candidates are asking for higher salaries than they were six months ago, said 48 percent of hiring managers and recruiters. Evidently, professionals are getting them: 49 percent of respondents said salaries for new hires are greater than last year, the best level since June 2008 when 52 percent of respondents said salaries were higher for new recruits. Existing staff will also see a salary bump this year. A majority, 53 percent of corporate hiring managers said salaries for existing staff are higher than last year.
Those increases appear to be having an impact on retention, with about one-third (34%) of corporate hiring managers saying voluntary turnover has increased in 2014. That compares to 42 percent of companies who reported a year-over-year increase in 2013 at the end of the year.
"It's not a candidate's market in every field, but with more and more hiring managers reporting salary increases, both retaining and attracting talent becomes more of a challenge," added Mr. Durney.
For those hiring managers who are expanding staff in the second half of 2014, 39 percent said they plan to hire up to 10 percent more employees than the previous six months. 30 percent of hiring managers expect to fill between 11 and 20 percent more positions, while 18 percent of survey respondents expect to be more aggressive with between 21 and 30 percent more professionals hired in the second half of the year.
All levels of experience are desired in the second half of 2014, with hiring managers and recruiters looking for candidates with two to five years of experience most frequently, followed by professionals with six to ten years of experience, those just entering the workforce, and finally those with more than 10 years of experience.
About the survey
From May 12 to May 16, 2014, Dice Holdings surveyed U.S. companies, government entities and recruiting firms from every region of the country who hire or recruit a variety of professionals. 806 hiring professionals responded to the email survey, with 68 percent identified as working for companies that recruit for their own needs in sectors such as healthcare, technology, manufacturing, defense, education and financial services.
About Dice Holdings, Inc.
Dice Holdings, Inc. (NYSE: DHX) is a leading provider of specialized websites for professional communities, including technology and engineering, financial services, energy, healthcare, hospitality 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 20 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, Asia and Australia.
Jennifer Bewley, Carrie Gray and Rachel Ceccarelli
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