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Right Management (ticker: **RHT, exchange: Privately Held) News Release - 3/1/2005


Almost 60% of Laid-Off Employees Thinking of Changing Careers, Says Survey

PHILADELPHIA— March 1, 2005 — Almost 6 of 10 out-of-work employees are considering making significant career changes, according to a survey more than 2,500 respondents in North America who are receiving career transition services from Right Management Consultants, the world's largest career transition and organizational consulting firm.

More than 4 out of 10 (44%) said they are considering self-employment – a percentage that is almost four times higher than the number of people who are actually self-employed in the U.S. (12%).

Although 56% of respondents said they are thinking of changing careers, approximately 40% actually go through with this – including about one-third who switch industries for their next jobs (perform the same job function, but in a different industry), and less than 10% who start their own businesses.

“There is a trend toward more displaced employees switching industries for their next jobs, but fewer going into business for themselves,” said Doug Matthews, Executive Vice President and head of Career Transition services for Right Management Consultants. “Industry-switching is becoming more common as fields such as banking, communications and others continue to consolidate, creating fewer opportunities in those areas. Also, fewer people turn to self-employment as a career alternative in a better job market.”

Among the survey's findings:

  • More than half (55%) of respondents have ruled out relocating to find their next jobs, while 21% think it may be necessary, and 24% consider it a possibility.
  • Those most interested in changing careers are ages 56-60 (59% of age group) and non-managers (60%).
  • Those least interested in changing careers are ages 31-40 (46%) and upper managers (48%).
  • Those most interested in starting their own businesses are ages 61-plus (54%) and in upper management (53%).
  • Those least interested in starting their own businesses are ages 21-30 (73%) and non-managers (63%).
  • Those ages 21-30 are most open to relocating for their next jobs (27%), as are upper-management employees (34%).
  • Those least open to relocating are non-managers (67%) and ages 61-plus (69%).

About Right Management Consultants
Headquartered in Philadelphia, Right Management Consultants (www.right.com) is the world's largest career transition and organizational consulting firm. From offices around the world, the firm offers a complete range of outplacement services and consults with clients to help design customized solutions for enhanced assessment, leadership development, strategic talent management and strategy execution. In combination, the two lines of business enable Right to help businesses manage the entire life cycle of their employees. Right is a wholly owned subsidiary of Manpower, Inc. (NYSE: MAN).

CONTACT: Sal Vittolino
(610) 649-9292 Ext. 102
sal@buchananpr.com

 


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