Stimulus program: majority of organizations report no increase in business
More than 3,100 private and public sector hiring managers weighed in on the effect of the American Recovery and Reinvestment Act on their business performance. Twenty-three percent of all employers reported that their organization experienced an increase in business in the third quarter tied to the economic stimulus program while 77 percent did not. Both employers who received funding and those who did not receive funding reported they have added employees this year as a result of the economic stimulus program. The survey was conducted nationwide across industries.
Six percent of respondents reported that their organizations received direct funding from the economic stimulus program. Of these employers, more than one-third (36 percent) plan to recruit new employees in the fourth quarter. Forty-two percent reported they have already hired new employees this year as a result of receiving funding. Top areas for hiring included:
- Technology (22 percent);
- Reserach/Development (18 percent);
- Sales and Marketing (12 percent);
- Customer Service (12 percent);
- Legal (9 percent);
- Human Resources (9 percent);
- Accounting/Finance (8 percent); and
- Business Development (7 percent).
Of those who didn’t receive funding from the economic stimulus program, 14 percent reported that their organizations still benefitted in terms of increased business. Twenty percent of these employers said they hired new employees this year as a result of the increased business and 19 percent plan to add headcount in the fourth quarter.
Source: CareerBuilder.
Reprinted with permission. © CCH
(Submitted Nov. 12, 2009)
<p>Stimulus program majority of organizations report no increase in business More than 3,100 private and public sector hiring managers weighed in on the effect of the American Recovery and Reinvestment Act on their business performance. Twenty three percent of all employers</p>
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