Most U.S. companies to hire, increase retention efforts in rest of 04

Management Recruiters International has announced the results of its 54th annual International Hiring Survey, indicating that 58 percent of executives who participated plan to make new hires during the remainder of 2004, up 10 points from the first half of 2004. Another 37 percent plan to maintain their current staff sizes, down 8 points from the first half. Only 4.8 percent plan to decrease their staff in 2004, down close to 2 points.

Projected new hires in several key industry sectors include the following: Pharmaceuticals, 80 percent; Aerospace, 54 percent; Finance, 64.3 percent; Automotive, 27.8 percent.

The survey also showed that most U.S. businesses are planning to increase their efforts to retain employees in the second half of the year. 60 percent said that they intend to increase their retention efforts with almost an equal balance of salary increases (32.9 percent), recognition programs (39.9 percent), enhanced training (35.4 percent), and additional benefits/perks (34 percent).

The survey found that plans to increase hiring also cross international borders. Following are the findings by region: U.K., 56.5 percent; Australia, 54.4 percent; Germany, 50 percent; Japan, 48.1 percent; Portugal, 26.1 percent.