Hello All,
At last here is a news to cheer about !! The hiring in US is not waning and there is continuity in the hiring process across the different industries / segments.
A recent survey by Administaff demonstrates that the hiring is happening non stop with companies hiring and filling up the open positions.
Happy Reading,
Raghav
Founder HRinIndia
www.hrinindia.in
Indias Biggest HR Network
raghav@hrinindia.in
9880080321
Nearly 78 percent of owners and managers of small businesses say their companies are either growing as planned or at a faster pace than forecast at the beginning of the year, according to results of a Business Confidence Survey released today by Administaff (NYSE:ASF), a leading provider of human-resources services for small and medium-sized businesses.
Survey respondents also are actively filling open positions with 44 percent saying they are hiring full-time employees and 11 percent planning to bring in part-timers.
Administaff also released compensation data compiled from its client base of more than 6,000 small and medium-sized businesses throughout the country. A comparison of first-quarter data against the same period in 2007 shows that average compensation is up 4.9 percent and average commissions have increased 6.8 percent. In addition, overtime pay is running 9.5 percent of regular pay.
"While many small and medium-sized businesses are doing quite well even in the midst of a challenging economy, others seem dedicated to turning problems into profits wherever possible, and we're committed to helping both reach their goals," said Paul Sarvadi, Administaff chairman and chief executive officer.
The survey also found that business owners and managers are willing to fight to keep valued employees. To do that, more than half of respondents said they are turning to pay increases or providing workers with new challenges or responsibilities.
Overall, over 26 percent of employers plan to increase salaries this year, according to the survey, while 50 percent will maintain current wage levels. Sixty-four percent expect overtime to remain about the same.
Other highlights of the latest survey:
-- Nearly 51 percent pointed to competitive salaries as their most successful recruiting tool, while 29 percent cited a strong benefits package and 12 percent named flexible scheduling.
-- Close to 24 percent plan to fill gaps in their work force by outsourcing certain tasks, and more than 30 percent are using their current staff to meet additional needs.
More than 60 percent of companies cited the economy as their biggest concern for 2008, followed by 52 percent who said finding ways to control operating costs was a key challenge and 40 percent listed hiring the right employees. Remaining concerns cited by business owners and managers included retaining their most valued employees (contrasted with hiring), rising fuel costs, increased health-care costs and more business competition.
Still, most survey participants expressed a guarded confidence in the current business climate.
"Despite some natural cautiousness about the economy, our growth continues unabated," one business executive wrote in the survey. "We haven't seen any evidence to support the gloom-and-doom predictions."
Another wrote: "Our business is still strong, but I see signs of weakness in other areas. Some people are delaying plans for expansion."
About the Business Confidence Survey
Respondents to the Administaff Business Confidence Survey are among the small and medium-size companies Administaff serves throughout the country. The questions were designed to take the pulse of the small-business community and gauge the expectations of business owners through the remainder of 2008.
Administaff conducted the survey over a five-day period in early May. Researchers surveyed chief executive officers, chief financial officers and other executives in a variety of industries at its client companies across the United States. The overall sampling error is +/- 5 percent at the 95 percent confidence level.
Administaff is the nation's leading professional employer organization (PEO), serving as a full-service human resources department that provides small and medium-sized businesses with administrative relief, big-company benefits, reduced liabilities and a systematic way to improve productivity. The company operates 49 sales offices in 24 major markets. For additional information, visit Administaff's Web site at http://www.administaff.com.
