CareerBuilder releases 2008 job forecast

CHICAGO, Dec. 26 /PRNewswire/ -- CareerBuilder.com, the nation's
largest online job site with more than 23 million unique visitors and over
1.5 million jobs, released the results of its latest survey, conducted by
Harris Interactive(R), tracking projected hiring trends for 2008. The
survey, titled "2008 Job Forecast," was conducted from November 13 through
December 3, 2007 among 3,016 hiring managers and human resource
professionals in private sector companies.

"The job market of 2007 showed resilience amidst economic uncertainties
and produced north of 1.3 million new jobs, according to the Bureau of
Labor Statistics," said Matt Ferguson, CEO of CareerBuilder.com. "Looking
forward, plans for hiring are tracking below last year's projections, but
point to continued job creation. Thirty-two percent of employers
CareerBuilder.com surveyed plan to add full-time, permanent employees in
2008, down from 40 percent who planned to do so in 2007. Employers are
taking caution in the New Year, anticipating the advent of a slower, but
still steady hiring environment."

Full-time

Thirty-two percent of employers plan to increase their number of
full-time, permanent employees in 2008. Eight percent plan to decrease
staff levels in 2008 while 47 percent expect no change. Thirteen percent
are unsure.

Part-time

Twenty-one percent of employers plan to increase their number of
part-time employees in 2008, down from 23 percent who expected to do so in
2007. Six percent plan to decrease headcount in 2008 while 58 percent
expect no change and 15 percent are unsure.

Hiring By Industry

Comparing select industries, solid job creation in Professional and
Business Services and Information Technology is expected to carry into the
coming year. Forty-five percent of employers in these sectors plan to add
full-time, permanent employees in 2008, followed by 37 percent of employers
in Transportation and Utilities, 34 percent in Financial Services and 32
percent in Hospitality. Healthcare and Retail employers are also planning
to expand staffs at 28 percent each.

Hiring By Region

Staff expansions are expected to remain strongest in the South and West
in 2008. Thirty-six percent of employers in the South and 34 percent of
employers in the West plan to add full-time, permanent employees compared
to 31 percent in the Northeast and 28 percent in the Midwest.

EIGHT MAJOR TRENDS FOR 2008

"Time-to-hire continues to be a challenge for employers as they
struggle with a shortage of qualified candidates," said Ferguson. "Nearly
one-in-five employers report it typically takes them two months or longer
to fill their open positions and 40 percent say they currently have open
positions for which they can't find qualified candidates. Recruitment and
retention efforts are becoming increasingly competitive and job seekers are
likely to benefit in the New Year in terms of higher paychecks, more
allowances for flexible work arrangements, special perks and better career
advancement opportunities."

#1 Bigger Paychecks

Continuing an existing trend designed to attract and keep top talent,
employers plan to offer more lucrative compensation packages in the coming
year.



-- 80 percent of employers report their companies will increase salaries
for existing employees in 2008, similar to last year; 64 percent expect
to raise salaries by 3 percent or more while 17 percent anticipate
increases of 5 percent or more.
-- 56 percent of employers expect to increase salaries on initial offers
to new employees, up from 49 percent in 2007; 40 percent will raise
salaries by 3 percent or more while 17 percent anticipate increases of
5 percent or more.

#2 More Flexible Work Arrangements

Sixty percent of employers report they currently offer flexible
schedules to employees and 39 percent plan to provide more flexible work
arrangements in 2008 such as:

-- Alternate schedules -- come in early and leave early or come in later
and leave later -- 78 percent
-- Compressed workweeks -- work the same hours, but in fewer days -- 38
percent
-- Telecommuting options -- 33 percent
-- Summer hours -- 21 percent
-- Job sharing -- 18 percent
-- Sabbaticals -- 8 percent

#3 Screening Candidates Via the Internet

To ensure they are recruiting the right talent, more employers are
leveraging the Internet as a vehicle for screening potential employees.

-- 45 percent of employers report they use online search engines and
social networking sites to research job candidates.
-- Nearly one-in-five (19 percent) say they are likely to start using or
increase their use of these resources to research job candidates in
2008.

#4 Rehiring Retirees

Nearly three-in-ten employers (29 percent) report concern over the loss
of intellectual capital at their organizations as a large number of Baby
Boomers approach retirement age.

-- Twenty-one percent say they are likely to rehire retirees from other
companies in 2008. Another 14 percent plan to provide incentives for
workers at or approaching retirement age to stay on with the company
longer.
-- At the same time, workers have expressed interest in postponing
retirement. Twenty-three percent of employers report they have
received requests from workers approaching retirement age to stay on
with their company longer.

#5 Diversity Recruitment

When asked if there is a particular segment of diverse workers they
plan to target more aggressively in 2008, employers pointed to Hispanic
workers, women, African American workers and mature workers.

-- 85 percent of employers report they will be placing the same or greater
amount of emphasis on recruiting bilingual candidates in the next 12
months.
-- 48 percent said, in addition to English, Spanish is the most important
language for bilingual hiring.

#6 Freelance or Contract Hiring

Employers are turning to freelance or contract workers to help support
business initiatives as they monitor their pace in recruiting permanent
employees.

-- Thirty-one percent of employers anticipate working with freelancers or
contractors in 2008.

#7 More Comprehensive Healthcare Benefits and Special Perks

In light of rising healthcare costs, nearly one-in-five employers (19
percent) report their companies plan to offer more comprehensive or better
health benefits to employees in 2008.


-- One-in-ten employers (10 percent) plan to offer more special perks such
as bonuses, discounts, company cars, stock options, free childcare,
educational reimbursement, transit passes and wellness programs.

#8 Career Advancement

With more than half of workers 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.


-- One-in-four employers (26 percent) are likely to provide more
promotions and career advancement opportunities in 2008.


HIRING AND COMPENSATION IN Q1
Hiring

Thirty percent of employers say they increased their headcount in the
last three months. Nine percent reduced headcount while 60 percent reported
no change and 1 percent were unsure.

Employers are expecting similar results for the upcoming quarter.
Twenty-nine percent of employers plan to add employees in Q1 2008. Seven
percent will decrease headcount while 60 percent anticipate no change and 5
percent are unsure.