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40% of Workers Plan to Change Jobs in 2004

Lack of Raises, Stalled Career & Absent Bonuses Motivating Factors
 


CHICAGO, IL Dec. 30, 2003-- Topping the list of New Year's resolutions for four-in-ten workers is finding a new job in 2004, according to a new CareerBuilder.com survey. Workers are motivated by the desire to find a more satisfactory work experience, make more money and advance their careers. The survey, "Plans for 2004," was conducted from November 18, 2003 to December 4, 2003 of more than 1,900 workers.

Nearly one-in-four workers (24 percent) say they are generally dissatisfied with their jobs. Although this is an improvement over the 29 percent who said they were dissatisfied in a survey completed in December 2002, more workers today are on the prowl for a new job opportunity compared to a year ago. Thirty-five percent of workers said they planned to change jobs in 2003 compared to 40 percent of workers planning to find new positions in 2004.

"One-in-two workers say they feel optimistic about the economy in 2004 and 41 percent expect their job prospects to become more abundant in the coming year," said Matt Ferguson, president and chief operating officer of CareerBuilder.com. "Workers plan to capitalize on an improved economy and seek out opportunities that will increase pay scales and propel their careers forward. After enduring layoffs, heavier workloads and postponed raises, workers expect to be compensated fairly and competitively with salary increases, bonuses or promotions."

Sixty percent of surveyed workers did not receive a bonus in 2003 and 40 percent did not receive a salary increase. The vast majority of workers received a salary increase of five percent or less and only 18 percent received an increase of 10 percent or more. Of those who did receive a salary increase, 45 percent indicated that the amount did not meet their expectations. For these workers, 46 percent plan to change jobs next year. TOP

Nearly four-in-ten workers (39 percent) report dissatisfaction with opportunities for career advancement at their current jobs with 82 percent stating they did not receive a promotion in 2003.

"The lack of a promotion figures prominently in how workers feel about their jobs," said Ferguson. "Receiving a promotion enables workers to gain additional experience, obtain public recognition for a job well done and advance their careers. For workers who were overlooked for a promotion in 2003, only 27 percent are satisfied with their jobs and 65 percent plan to find a new position in 2004 rather than wait for a promotion at their current place of employment." TOP

For workers looking to make a fresh start in 2004, CareerBuilder.com offers smart online products to target job searches for salaried and hourly positions. The site gives job seekers the choice to search by industry, location and job type, and provides online career assessments, coaching for interviews and tips for salary negotiations. Job seekers can indicate their work preferences, education and experience and have jobs automatically emailed to them. Interested employers can review job seeker profiles and contact qualified candidates directly. TOP

More than 30 Percent of Hiring Managers Plan to Add New Jobs in 2004


Thirty-two percent of hiring managers will recruit to expand operations, improve customer service or support the launch of new products and services while 52 percent will be replacing workers who have left voluntarily or were laid off. The CareerBuilder.com survey, "Plans for 2004," was conducted from November 18, 2003 to December 4, 2003 and included more than 400 hiring managers. TOP

"Recruitment trends are tied to confidence in the economy and 56 percent of hiring managers expect the economy to improve in 2004," said Matt Ferguson, president and chief operating officer of CareerBuilder.com. "While more than half of hiring managers will be focused on employee turnover in the coming year, what is encouraging is that almost one-third will recruit to expand their business, introduce new products and services or enhance customer relations. After two years of a relatively flat job recovery, this is a positive indicator that job creation is on the rebound."

As hiring strategies become more aggressive, so do overall investments in recruitment. Nearly three-in-ten hiring managers plan to increase their recruitment budgets in 2004 to find the right people to support revenue and performance goals. TOP

Finding the right people can be challenging. Although 56 percent of hiring managers are currently filling open positions in 30 days or less and 30 percent are filling them in 14 days or less, a significant amount are having trouble zeroing in on relevant candidates.

A candidate's experience remains key in the selection process for hiring managers. For almost four-in-ten hiring managers, it is the appropriateness of the candidate's experience that is the most important factor influencing their hiring decisions. Hiring managers also regard the demonstration of professional behavior during the selection process (17 percent) and the level of enthusiasm showed by the candidate for the job opportunity (12 percent) as important factors. TOP

EMPLOYEE SURVEY METHODOLOGY

The employee survey, "Plans for 2004," was conducted from November 18, 2003 to December 4, 2003 of more than 1,900 employed full-time workers. To collect data for the survey, CareerBuilder.com commissioned SurveySite to use an e-mail methodology whereby individuals who are members of SurveySite Web Panel were randomly selected and approached by e-mail invitation to participate in the online survey. The results of this survey are accurate within +/- 2.23 percent (19 times out of 20).

EMPLOYER Survey Methodology

The employer survey, "Plans for 2004," was conducted from November 18 to December 4, 2003 of more than 400 hiring managers. To collect data for the survey, CareerBuilder commissioned SurveySite to use an e-mail methodology whereby individuals who are members of SurveySite Web Panel were randomly selected and approached by e-mail invitation to participate in the online survey. The results of this survey are accurate within +/- 4.79 percent (19 times out of 20).

About CareerBuilder.com

Together with Gannett Co., Inc. (NYSE:GCI) , Tribune Company (NYSE:TRB) , and Knight Ridder, Inc. (NYSE:KRI) , CareerBuilder.com includes the Web's top newspaper sites -- the most trusted employment sources in recruiting.

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