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SHRM Report: October 2009 Modest Hiring Expected to Bring More Jobs than Layoffs
LINE Report details anticipated hiring in manufacturing and service sectors
LINE provides a snapshot of anticipated hiring for the month ahead and also examines data from the previous month.
The full report:
A closer look at new-hire compensation packages
The new-hire compensation index in the services sector in September shows more companies increasing new-hire salaries and benefits than decreasing. LINE data show that
6.9 percent of surveyed HR professionals said their company increased compensation compared with 1.3 percent who reported decreases
— a net total of 5.6 percent.
The year-over-year number, however, did not improve
— in September 2008, a net total of 10.5 percent of companies increased compensation for new hires.
In the manufacturing sector, a net total of negative 0.3 percent of HR respondents said their company decreased new-hire compensation in September 2009. A closer look shows that 3.2 percent increased compensation packages while 3.5 percent decreased compensation. The net total is the lowest for September in the report’s five-year history tracking the manufacturing sector.
LINE data show that HR professionals in both sectors continue to report a large unemployment pool from which to recruit.
LINE is based on a monthly survey of human resource professionals at more than 500 manufacturing and 500 private service-sector companies. Together, these two sectors comprise more than 90 percent of America’s private sector employment.
Reporters note: The SHRM LINE Report is released at 9 a.m. Eastern time on the third Friday following the conclusion of the week containing the 12th of the month. The SHRM employment expectations index describes the same time period referenced approximately one month later in the Employment Situation Report issued by the Bureau of Labor Statistics.
About the Society for Human Resource Management
The Society for Human Resource Management (SHRM) is the world’s largest association devoted to human resource management. Representing more than 250,000 members in over 140 countries, the Society serves the needs of HR professionals and advances the interests of the HR profession. Founded in 1948, SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China and India. Visit SHRM Online at www.shrm.org.
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