Employers See a Brighter 2010
By anthony balderrama on Dec 30, 2009 in Compensation, Employment Trends, Featured, Job Surveys, Salary, Work/Life
Yesterday I mentioned that CareerBuilder released its 2010 Job Forecast and that we’d have more info today. And we do!
We can safely say that 2009 was a year where the economy struggled, and we still have some work to do in 2010. However, this year 20 percent of employers plan to add new employees in 2010–in 2009 only 14 percent said so. Employers are certainly taking a wait-and-see approach to hiring, so expect them to remain cautious, but at least their outlook is definitely better than last year. Although 9 percent of employers expect to decrease headcount in 2010, that’s a significant increase compared to the 16 percent from last year.
If you’re wondering where the jobs are, look to the West, where 24 percent of employers intend to add full-time workers. Employers in the Northeast anticipate the next highest amount of hiring, followed by the South and Midwest.
The industries where you can expect to see the largest hiring increases are information technology, manufacturing, financial services, professional and business services, and sales.
Perhaps the one topic you care most about is pay. Specifically, should you expect a raise in 2010 or a high starting salary? Fifty-seven percent of employers report their companies will increase salaries for existing employees in 2010, down from 65 percent in 2009. Thirty-six percent expect to raise salaries of existing employees by 3 percent or more, while 11 percent anticipate increases of 5 percent or more.
Twenty-nine of employers plan to increase salaries on initial offers to new employees, down from 33 percent in 2009. Nearly one-in-five (18 percent) employers will raise salaries on initial offers by 3 percent or more while 7 percent anticipate increases of 5 percent or more.
What else should you expect in 2010? Employers intend to replace their lowest performing workers. They also intend to implement flexible work arrangements that help employees maintain a good work-life balance and consequently keep them happy. And in an effort to retain top talent, many organizations will ask some employees to postpone retirement or they will rehire some retirees.
To read more about what employers are planning, read the highlights here or the full forecast here.
Don | Dec 30, 2009
Here’s the problem. There are less employers for 2010. Many small and even mid-sized companies have closed their doors and are not coming back. So instead of percentage rates of remaining employers, we add in all those companies that closed. That would bring that rate down for sure.
roastduckmangosalsa | Jan 12, 2010
No way dude. Co-workers talk to co-workers, but I talk to my employer’s competitors. More businesses are planning to shut down in the coming weeks now that some lease contracts are finally expiring. And the one’s that are not closing are still bleeding heavily because they still can’t get out of their darn lease. Employers are shackled in 2010. Get ready to see less services from both government and businesses while they find a quick and dirty way to keep their doors open.
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