Companies across the country are slowly beginning to recover and are looking for new talent to support their gradual economic comeback. The 2010 BenchmarkPro survey results found 93.4 percent of organizations are actively recruiting personnel. This is up from 91.1 percent reported in 2009 and should continue to grow in 2011.
To recruit new employees, organizations use a variety of methods. Advertising on the internet is the most prevalent at 81.1 percent, with newspaper advertising following at 63 percent. Employee referral programs and job fairs are utilized by over 54 percent of organizations. Nearly half of companies report using internet resume databases in recruiting new employees, while over 30 percent use sign-on bonuses or trade and professional association advertising.
“Even with the high unemployment rate, finding the right candidate to fill a position can be a long and difficult process for many employers,” said Amy Kaminski, director of marketing for Compdata Surveys, the nation’s leading compensation and benefits survey data provider. “Because having experienced personnel on staff will be vital to the success of companies recovering from the recession, recruiting the right personnel early on will provide companies with a competitive edge.”
The popularity of recruiting methods differs by industry as job fairs are used by 75.6 percent of hospitality organizations. Companies in healthcare and banking and finance follow at 70 and 64.2 percent, respectively. Job fairs are utilized in the insurance industry at a rate of 51.6 percent. Manufacturing companies use them the least, 42.5 percent.
Recruiting trends also vary by region as sign-on bonuses are used by 38.7 percent of organizations in the Northeast with the Southeast following at 33.8 percent. Companies in the West offer sign-on bonuses at a rate of 32.7 percent, while those in the South Central use them at a rate of 32.3 percent. Midwest respondents report utilizing sign-on bonuses to recruit new personnel at a rate of 26.8 percent.
About the Survey
BenchmarkPro 2010 contains cross-industry data on over 300 benchmark job titles. Data was collected from nearly 4,000 employers reporting for almost 15,000 locations across the country. The results provide a comprehensive summary of pay data and pay practices with an effective date of March 1, 2010.
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For further information about their compensation and benefits surveys, contact Michelle Willis at (800) 300-9570.