In February 2009, MileagePlus Salary Survey Department conducted a special survey on the topic of "Impact of Financial Crisis on Corporate Recruitment" from the personal and corporate HR aspects, and the survey***recovery of 1,186 personal questionnaires and 451 corporate questionnaires. From the nature of enterprises participating in the survey, 451 enterprises, 44% are wholly foreign-owned enterprises, followed by private / private enterprises accounted for 34%. In terms of individual feedback, private enterprises were 45%, followed by wholly foreign-owned enterprises at 27% (see Figure 1).
In terms of the industries that participated in the survey, 35% of the 451 companies were in traditional industries, followed by 34% in high-tech industries. In terms of individual feedback, the traditional industry was 39%, followed by the high-tech industry at 33% (see Figure II).
Findings of the survey: enterprise demand and individual willingness to "very different"
The degree of difficulty of the recruitment work, the recruitment effect depends largely on the supply and demand situation in the talent market, whether it is "supply exceeds demand" or "supply exceeds demand" or "supply exceeds demand". "supply exceeds demand", the two kinds of supply and demand imbalance on the recruitment of enterprises have a certain impact. "Supply exceeds demand", the difficulty of enterprise recruitment, the direct impact of the enterprise can not recruit the right person, the rise in recruitment costs, the quality of recruitment decline, poor recruitment results and so on. And with the financial crisis "driving to", whether "supply exceeds demand"?
Survey data show that 48.5% of enterprises believe that the supply of talent market (see Figure 3), only 16.9% of enterprises believe that the supply of talent market shortages, while 26.3% of enterprises have been suspended recruitment, from the point of view of the indication, showing that the current talent market, the existing "supply exceeds demand" phenomenon.
The quantity of "supply exceeds demand" is, to a certain extent, a solution to the difficulty of recruitment, recruitment costs, recruitment quality, recruitment results and other aspects of the problem, but it is also "hidden mysteries", especially in today's financial crisis situation.
1. Significantly reduce the turnover rate. Due to the financial crisis triggered by the employment crisis led to more individuals choose to "sleep in", greatly reducing the turnover rate, the enterprise can not be fresh blood, for the enterprise to have the probability of talent is also relatively low.
2. Senior talent is still in short supply. Talent market supply is relatively abundant, but it does not mean that all the talents are available, some senior talents, such as senior managers, technicians, etc. is still "rare". On the one hand, the current market salary may not reach the hope of senior talent, on the other hand, "layoffs" and let a lot of senior talent have doubts, not willing to jump ship.
3. Bringing new challenges to HR recruitment skills. Today's situation seems to be "a hundred people fighting for a", HR almost do not have to worry about recruiting people, but in a hundred people to choose the "right person" is a new challenge, for recruitment, interviewing skills need to work harder.
From the point of view of the actual demand of enterprises, survey data show that the demand of enterprises in various industries is lower than the "balance point" (indicating that the normal loss of normal recruitment of enterprises in a balanced state). Traditional industries, real estate industry, service industry, high-tech industry recruitment index are less than the balance point of 5.5, the lowest for the real estate industry for 4.19. And from the individual job-seeking tendency of each industry data, the real estate industry, on the contrary, the highest 64.9%, followed by high-tech, see Figure IV.
Combined with Figure 3 and Figure 4, it can be said that corporate demand and individual willingness to differ greatly, the supply of the talent market is relatively abundant, while the relative lack of corporate demand. Especially obvious for the real estate industry, in the individual job-seeking tendency is so high at the same time, the enterprise recruitment index is relatively low. Under the financial crisis, for the real economy of the real estate enterprises, the main three aspects of pressure: 1. sales area drop increased; 2. housing prices fell, the leading indicators show that housing prices are still facing downward pressure; 3. the pressure on enterprise funds is increasing. From the interviews, we learned that many real estate industry had to suspend recruitment or even layoffs in the form of cost control. From the individual side, the real estate industry in the past few years, "red-hot salary", so that many people are fascinated, a handful of fishing is an "annual salary of 100,000", technicians and sales staff pay more people for the heart, no wonder more and more individuals on the real estate industry desire. industry is yearning for.
Survey Findings II: More than half of the corporate executives cut
The global financial crisis was marked by the announcement of the bankruptcy of Lehman Brothers, and the U.S. subprime mortgage crisis began to transform into the U.S. financial crisis, and quickly spread to the world. As the financial crisis continues to develop, the virtual economy has begun to affect the real economy, the IT industry, the real estate industry, the automotive industry, trade | import and export industry, as well as a number of labor-intensive industries have been affected by the economic downturn, have to carry out personnel cuts, "suspension of recruitment," "layoffs" voice. Layoffs" sound endless.
From the individual end, nearly 50% of the individual department staff reduction, the enterprise staff size has fallen sharply. Survey data show that 48.6% of the individuals in the department compared to the 2008 staff size have different degrees of reduction (see Figure 5), of which the proportion of more than 20% reduction of up to 16.5%. Looking at the year-on-year growth in staffing size, the year-on-year growth percentage totaled 15.7%.
Case: Shenzhen a computer company software engineers: "Our company has not laid off, but as far as our department is concerned, some people left, the boss let us do his work a few people equally, and no longer recruiting. 08 when our department's staffing level is 25 people, and now there are only 17 people! ..."
From the corporate end, more than half of companies have implemented staffing cuts. Of these, 22.5% are no longer hiring due to natural wastage, 19.7% are laying off employees, and 10.7% have plans to cut staff in 2009 (see Figure 6). What is even more remarkable is that 19.7% of enterprises have already taken layoffs to reduce staff, which is equivalent to 1 out of 5 enterprises have already laid off staff.
Case: Shanghai, a real estate industry, human resources manager: "the beginning of the year when roughly 20% of the people cut, mainly concentrated in engineering, finance and sales of these modules, 09 will layoffs, depending on the development of the situation ..."
"Half", is indeed a small number, but we need to see is that although "this half" is a rainy day, but "the other half" is still a sunny day. At the same time, there is still a part of the enterprise is expanding the scale, China is a big market, at the same time, the Chinese market for this financial can also be called a "safe haven", in the interview we learned that many foreign-funded enterprises will be most of the business turned to the domestic, to increase investment in the domestic market. We believe that after the financial crisis, the "sunny day" will be more rainbow.
Impact of financial crisis on recruitment: More than half of companies cut staff
Survey Finding 3: 82.6% of companies don't increase salaries of new recruits
Compensation has always been a topic of concern, and now that the demand of companies has dropped and 50% of them have taken staff cuts, what will happen to the salaries of new recruits?
Survey data show that 82.6% of enterprises will not increase the salary of new entrants, of which 55.1% of enterprises choose to remain flat, 27.5% of enterprises to reduce the salary of new entrants (see Figure 7 for details), that is to say, nearly 1/3 of the enterprises will reduce the salary of new entrants, which is also a kind of subtle "salary cuts
This is also a subtle "pay cut".
This is under pressure from both sides. For enterprises, the financial crisis, pay more attention to cost control, that recruitment of per capita cost is also one of the indicators; and for individuals, the market supply is sufficient, the decline in demand for enterprises, looking for a job is a difficult task, naturally, for the requirements of the salary will put down the "high profile", 42.3% of individuals believe that if re-employment 42.3% of the individuals think that if they are re-employed, "the salary is similar to the original on the line", and 7.8% think that "it does not matter how much they are paid if they can find a job".
On the surface, companies are indeed saving costs, but more y, this undoubtedly reduces the leverage to attract talented people, companies want to get real talent but more difficult.
Case
Beijing, a medical industry's human resources director: "hired new staff salary roughly than last year fell 5% -10%, mainly because of the financial crisis, now the market price is also low, the company also hope that the lower the cost of the better ...... "
Survey found that four: under the crisis, the network recruitment is still the mainstream channel
Cost control is already under the crisis of the enterprise must do a thing, the recruitment channel directly affects the recruitment cost, what kind of way is the "inexpensive and good quality" recruitment channel? Survey data show that 89.2% of enterprises use "website recruitment", followed by "internal recommendation", 45.2%, see Figure VIII. This also proves the advantages of network recruitment, large amount of information, fast update speed, break through geographical restrictions, high success rate of job search, relatively low cost and so on. At the same time, internal recommendation is also favored, and internal recommendation is the lowest cost among various recruitment channels, of course, it also has the advantages of strong targeting and faster personal adaptation. It seems that the financial crisis, the cost is always placed in the first place in the consideration of enterprises.
Findings 5: Low-cost measures - a good strategy under the crisis
While the external economic environment of the sharp turnaround, so that many companies in the recruitment management by a large degree of impact, but the enterprise will be how to take the next step is the most critical. The so-called "heavy not to happen, but in the solution". For the recruitment process and staffing, enterprises will have what countermeasures?
Survey data shows that 70.2% of companies opted for "probationary evaluation" (Figure 9) to achieve more prudent hiring. At a time when companies are booming, probationary assessment may be easily overlooked due to the large amount of work involved, and many companies will do it, but not "well". During the interviews, we learned that many HRs in the enterprises "do a good job" of probationary period assessment for better recruitment results, which is definitely a way to control costs.
From the point of view of staffing, in order to control costs, enterprises are more likely to take the "optimization of the organizational structure" and "merger of jobs" approach. According to the data, 47.6% of enterprises adopt "optimize the organizational structure", 31% of enterprises adopt "merge jobs", see Figure X.
In terms of staffing, more enterprises adopt "optimize the organizational structure" and "merge jobs" in order to control costs.