Robert Half Professional Employment Report Us

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Transcript of Robert Half Professional Employment Report Us

  • The Robert Half

    Professional Employment Report

    About the Report The Robert Half Professional Employment Report is the first quarterly hiring survey of its size and scope to focus exclusively on professional-level hiring. The results are based on telephone interviews with more than 4,000 executives throughout the United States to determine their hiring plans for the upcoming quarter. Among those surveyed are chief financial officers (CFOs), chief infor-mation 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 third quarter of 2010. Robert Half has been reporting employment data through its Hiring Index program since 1992.

    We hope the Professional Employment Report is useful and invite you to contact us for help with any of your staffing needs. For additional information, visit www.roberthalf.us/per.

    NATIONAL HIRING PROJECTIONS

    THIRD QUARTER 2010

    Q3 2010

    A net 3 percent of executives plan to increase hiring in professional occupations in the third quarter of 2010.

    Executives in the transportation industry plan the great-est hiring activity, with a net 12 percent anticipating adding professional staff.

    The New England1 and West South Central2 regions of the United States showed the most promise, with a net 10 percent and 6 percent, respectively, of executives in these areas planning to add personnel.

    The legal field law firms, in particular is expected to see the strongest hiring activity, with a net 31 percent of lawyers interviewed expecting to increase staff levels.

    More than four in 10 executives (42 percent) said it is challenging to find skilled professionals today, up five points from the previous quarter.

    A majority (85 percent) of executives interviewed expressed confidence in their companies prospects for business growth in the third quarter.

    Source: More than 4,000 executives at U.S. companies

    www.roberthalf.us/per

    Key Findings

    Increasein staff levels

    Decreasein staff levels

    9%

    6%

    0%

    2%

    4%

    6%

    8%

    10%

    1 New England: CT, ME, MA, NH, RI, VT2 West South Central: AR, LA, OK, TX

  • 2The Robert Half Professional Employment Report www.roberthalf.us/per

    PROJECTED HIRING BY REGION ALL PROFESSIONSThe Big 8: Top States for Professional-Level Hiring

    These states show the highest net increase in projected hiring activity among states with at least 100 survey respondents*:

    1. Massachusetts (+14%)

    2. Texas (+8%)

    3. Tennessee (+7%)

    4. Florida (+5%)

    5. Minnesota (+4%)

    6. Arizona (+3%)

    7. Connecticut (+3%)

    8. New York (+3%)

    New England: CT, ME, MA, NH, RI, VTMid-Atlantic: NJ, NY, PAEast North Central: IL, IN, MI, OH, WI

    Source: More than 4,000 executives at U.S. companies

    Executives in the New England states are most optimistic about hiring, with a net 10 percent expecting to add staff. This is seven points above the national average. Executives in the West South Central region also project strong hiring activity, with a net 6 percent anticipating expanding their teams.

    *States with 100 or more respondents include: AZ, CA, CO, CT, FL, IL, KY, MA, MN, MO, NY, OH, PA, TN, TX

    0%

    5%

    10%

    15%

    New England Mid-Atlantic East North Central

    West NorthCentral

    South Atlantic

    East South Central

    West SouthCentral

    Mountain

    Increase Decrease United States

    Pacific

    20%

    12%

    2%

    7%

    4%

    8% 8%

    6%4%

    8%

    6%7%

    3%

    7%9%

    7%9% 8%

    13%

    West South Central: AR, LA, OK, TXMountain: AZ, CO, ID, MT, NV, NM, UT, WYPacific: AK, CA, HI, OR, WA

    West North Central: IA, KS, MN, MO, NE, ND, SDSouth Atlantic: DE, DC, FL, GA, MD, NC, SC, VA, WVEast South Central: AL, KY, MS, TN

    Professional-Level Hiring By Region

  • 3The Robert Half Professional Employment Report www.roberthalf.us/per

    PROJECTED HIRING BY INDUSTRY ALL PROFESSIONSTop 5 Industries for Professional-Level Hiring

    These industries show the highest projected net increase in hiring:

    1. Transportation (+12%)

    2. Business services (+9%)

    3. Retail (+7%)

    4. Manufacturing (+6%)

    5. Wholesale (+5%)

    Source: More than 4,000 executives at U.S. companies

    Executives in the transportation and business services industries expect the most active hiring of professional-level staff, with a net 12 percent and net 9 percent, respectively, projecting increases in personnel levels. In addition, a net 7 percent of executives in the retail sector said they anticipate hiring in the third quarter.

    0%

    5%

    10%

    15%

    Finance,Insurance &Real Estate

    Retail Construction ProfessionalServices

    Transportation WholesaleBusinessServices

    Manufacturing

    Increase Decrease All Industries

    6% 5%

    14%

    7%

    14%

    2%

    5% 6%7%

    1%

    6%

    2%

    8%1%

    6%

    2%

    20%

    1 1

    Professional-Level Hiring By Industry

  • 4The Robert Half Professional Employment Report www.roberthalf.us/per

    Challenge in Finding Skilled Professionals

    Forty-two percent of all executives said it is challenging to find skilled professionals today.

    This number rises to 48 percent for the retail industry and 46 percent for the transportation sector.

    Executives at midsized companies* report the greatest difficulty, with nearly half of respondents saying it is very or somewhat challenging to locate skilled candidates.

    *250 to 999 employees When asked to rate how confident they are in their companies prospects for business growth in the third quarter, 85 percent of executives said they are very or somewhat confident. Adver-tising and marketing executives expressed the greatest confidence, with 91 percent reporting feeling at least somewhat confident in their growth prospects. Human resources executives also were optimistic, with 88 percent of respondents in this category expressing confidence in their companies prospects.

    Source: More than 4,000 executives at U.S. companies

    CONFIDENCE SCALE

    Accounting& Finance

    Advertising& Marketing

    Technology LegalHumanResources

    Q3 Q2 Average

    84% 84%

    12%

    7%

    85%91% 88% 81% 79%82%

    0%

    20%

    40%

    60%

    80%

    100%80%83%

    Confidence in Prospects for Business Growth

  • 5The Robert Half Professional Employment Report www.roberthalf.us/per

    Overview

    A majority of CFOs (84 percent) surveyed expressed confidence in their businesses ability to grow in the third quarter. Six percent of executives said they planned to increase hiring in the quarter, while 9 percent anticipate staff reductions. The majority of respondents, 83 percent, do not expect any changes in personnel levels.

    While most companies remain cautious about expanding their teams, some are selectively adding staff to prepare for emerging business opportunities, taking advantage of the high caliber of accounting and finance professionals available. Businesses not quite ready to hire on a full-time basis are bringing in interim employees to help keep key initiatives on track. Some firms are pursuing both approaches, making targeted full-time hires as well as engaging temporary professionals to create a workforce flexible enough to weather a variety of economic shifts.

    Despite high unemployment levels, finding finance professionals with just the right skills remains difficult. Forty-one percent of respondents indicated it is challenging for them to locate skilled professionals today, a seven-point increase from the second quarter (34 percent).

    Top Positions in Demand

    Staff and senior accountants Firms are recruiting professionals who can manage ongoing accounting needs, such as preparing financial statements, maintaining the general ledger and perform-ing account analysis. Employers prefer experienced candidates who can contribute immediately.

    Financial analysts Businesses depend on these professionals for their expertise in evaluating finan-cial plans, forecasts and budgets, and identifying ways to improve profitability. Senior financial analysts are needed to assess borrowing structures to ensure competitive funding costs and also are valued for their ability to communicate their analysis to management.

    Business systems analysts These professionals are in demand as companies seek to maximize their systems and implement new enterprise resource planning packages and related software initiatives that were put on hold during the recession.

    Top Industries Transportation (+5%) Healthcare* (+5%) Manufacturing (+3%)

    Top Regions West South Central (+6%) Mountain (+2%) New England (+2%)

    Source: 1,400 CFOs at U.S. companies

    CFO CONF IDENCE

    Percentages reflect the net increase

    *Included in the professional services sector

    Executives reporting confidence in business growth

    Q3 Q2

    84% 84%

    0%

    20%

    40%

    60%

    80%

    100%

    Hiring Trends Accounting & Finance

  • 6The Robert Half Professional Employment Report www.roberthalf.us/per

    Top Positions in Demand

    Network administrator More complex and demanding networks have increased the need for skilled network administrators. Those versed in cloud computing, Voice over Internet Protocol (VoIP) and Software as a