NEW YORK--(BUSINESS WIRE)--Sept. 10, 2003--In the past year
companies filled an average of one in three job vacancies with
existing employees, according to a just-released survey conducted for
The New York Times Job Market. And, the majority of hiring managers
surveyed (61%) say they are more likely to fill job vacancies
internally during a down economy.
Beta Research Corporation, on behalf of The New York Times Job
Market, conducted telephone interviews with 250 hiring managers and
200 job seekers in the New York metropolitan area. Job seekers are
defined as those who are currently looking or plan to look for a new
job in the next six months.
Hiring Managers' Attitudes toward Internal Recruitment
More than half of hiring managers (55%) say that employees hired
from within their organization are more productive than new hires from
outside their organization. The other 45% of hiring managers describe
internal hires as either just as productive (39%) or less productive
(6%) than hires from outside their organization.
Hiring managers cited several advantages and disadvantages to
filling job vacancies from within their company's ranks:
Advantages of Internal Recruitment
Employee is familiar with company 73%
Less employee training required 62%
Company is familiar with employee 61%
Lower cost of recruitment 40%
Disadvantages of Internal Recruitment
Employee less innovative/maintains status quo 44%
Potential internal conflict 36%
Employee lacks necessary experience/skills 20%
Nearly one quarter of all hiring managers (24%) say they are
occasionally required to hire internally, despite their preference to
seek talent outside of their organization, due to cost (36%), office
politics (33%) and union rules (16%).
Job Seekers' Attitudes toward Internal Recruitment
Job seekers were also asked for their views toward accepting job
openings at their current company.
According to the survey many employed job seekers (38%) say they
are currently looking for jobs within their company as part of their
job search. This proportion is higher (48%) among employees at
organizations with 100 or more employees. It is also higher among
employees at organizations in the public sector (55%) compared to
those employed in the non-profit sector (33%) or at private companies
(29%).
The majority of all job seekers (72%) say that in general they
would be willing to look for a position within the same company rather
than change employers. Nearly one-third of job seekers (32%) say they
have changed jobs within the same company at some point. And among
those who have done so, most (83%) say the experience was positive.
Job seekers cited several advantages and disadvantages to
accepting a new position at their current company:
Advantages to Accepting New Position
Learn new skills 44%
First chance at openings 34%
Familiar with company 34%
Less risk in down economy 19%
Less training required 13%
Salary increase/more benefits 3%
Disadvantages to Accepting New Position
Lower salary/fewer benefits 39%
Same management/culture 32%
Internal conflicts as result of transfer 24%
Less exposure to new ideas 20%
About Job Market
Job Market, the print and online recruitment services offering of
The New York Times, provides employers and job seekers with
comprehensive resources to streamline the recruitment process. Job
Market appears in The New York Times every Sunday and is updated
throughout the week at NYTimes.com, where job seekers can find job
listings, career-related Times articles, exhaustive company research,
a resume database and valuable career resources.
Through the newspaper's national audience, which includes 5.0
million weekday readers and 5.5 million Sunday readers as well as the
1.3 million readers who visit NYTimes.com every day, The New York
Times Job Market reaches a marketplace of high-quality professionals
actively seeking new job opportunities or considering career moves.
Each week, The New York Times Job Market issues research on
industry trends and workplace practices affecting employers and job
seekers in the metropolitan New York region. On a monthly basis, The
New York Times Job Market releases its Job Market Confidence Index.
The Index tracks current conditions for recruitment in the New York
metro area as well as future outlook for the coming six months. Copies
of Job Market research reports are available upon request or at
NYTimes.com/jobmarket. New York-based Beta Research Corporation, via
random telephone interviews, independently conducts The New York Times
Job Market research.
NOTE: Job Market research is not affiliated with the editorial
operations of The New York Times newspaper and does not reflect the
views of the newspaper or its journalists. Source all references to
Job Market research as: The New York Times Job Market.
About The New York Times Company
The New York Times Company (NYSE: NYT), a leading media company
with 2002 revenues of $3.1 billion, includes The New York Times, The
International Herald Tribune, The Boston Globe, 16 other newspapers,
eight network-affiliated television stations, two New York City radio
stations and more than 40 Web sites, including nytimes.com and
boston.com. For the third consecutive year, the Company was ranked No.
1 in the publishing industry in Fortune's 2002 list of America's Most
Admired Companies. In 2003 the Company was named by Fortune as one of
the 100 Best Companies to Work For. The Company's core purpose is to
enhance society by creating, collecting and distributing high-quality
news, information and entertainment.
This press release can be downloaded from www.nytco.com and
www.nytco.com/community.
CONTACT: The New York Times Company
Diane McNulty, 212-556-5244
mcnuldc@nytimes.com
Al Leach, 212-556-4483
promo8@nytimes.com
SOURCE: The New York Times Company
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