Hiring trends for 2008
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.”
CareerBuilder.co.uk has released the results of its annual job forecast, conducted by Harris Interactive, 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.
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.
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
- 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.
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.
5. Languages
- 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.
HIRING AND COMPENSATION IN QUARTER ONE 2008
Hiring
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.