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The interbiznet Bugler
interbiznet presents The Bugler
November 19, 2008

Raise in Recruitment Sector Employees Pay
In keeping with the launch of the interbiznet HR Management Jobs Search Engine, we are providing some good news regarding increased pay in our industry.
Recruitment sector employees 'receive biggest pay rises' (Read more.)

Reveille & Hyperbole
KBW Financial Staffing & Recruiting, a firm specializing in staffing solutions for Accounting and Finance professionals, opens a new office at 300 Trade Center, Woburn, MA. The firm reports a 3-year adjusted growth rate of 419.8%. KBW opened their doors in Bedford, NH, in 2005 with $35,000, one employee, and one corporate account; the company expects their gross income to top 4.2 million dollars for 2008.

Launched in Romania, the "online head-hunter" website CareerBuilder.ro targets the third position in local recruitment industry, betting on its popularity in over 38 countries and its cutting-edge technology, according to Lampros Latsaras, Country Manager at CareerBuilder.com.ro.

Veredus Corporation, a Tampa, FL-headquartered technical staffing company and privately held firm, was rated Number 32 out of over 11,000 privately held staffing companies by the Staffing Industry Analysts for its growth from 2003 to 2007. This is the second year in a row that the company has been recognized for its extraordinary growth rate by SIA.

Salary.com, provider of on-demand compensation and talent management solutions, launches an exclusive partnership with EducationDynamics, owners of education web portals eLearners.com and EarnMyDegree.com. The sponsorship plus the sales of content is expected to deliver more than $1 Million in revenue to Salary.com over the next 12 months and complements the company's enterprise learning and development offerings and is designed enhance the user experience of the elearning.salary.comSalary.com Learning Center.

Brazil anyone?..
Bloomberg.com reports that Brazilian President Luiz Inacio Lula da Silva said the government may announce new steps to help companies maintain investment plans and staffing amid a global credit crunch.

Surveys Say
Despite the recent avalanche of negative economic data, highlighted by a 0.3% contraction in U.S. GDP in the third quarter and a rising unemployment rate, the outlook for job growth at the top of the employment market is not all doom and gloom. The ExecuNet Recruiter Confidence Index recently revealed that the global economic slowdown has reached the top of the employment market. According to the October 2008 survey of executive recruiters, 37% are confident or very confident the executive employment market will improve in the next six months - down from 49% in September. Designed to forecast job growth at the executive level, a reading below 50% indicates recruiters expect the number of search assignments in the next six months will decrease.

In these turbulent times with layoffs and downsizings, there is an increasing level of uncertainty among employees regarding job security. The Kenexa Research Institute explored just how confident employees in the United States are about their being able to find a similar job in another organization. The results from a randomly selected group of more than 16,000 workers from 12 countries indicate that employees in Russia (81%) and India (80%) have the highest overall confidence in their ability to find a similar job, followed by those in Brazil (76%), Canada (75%) and France (73%). Those in Japan (40%) are the least confident. American workers in service jobs (77%), professionals (75%) and senior managers (74%) were the most confident about being able to find another job that uses their skills and experiences; clerical workers (64%), crafts/skilled trades (63%) and laborers (55%) were the least confident.

In Depth
India's first website to focus on Information Technology Cybermedia India Online Limited reports that in an increasingly slowing economy, offshore providers of human resources services are well positioned to take market share from US-based suppliers as buyer companies are now more focused on early cost savings that can be gained from labor arbitrage, according to a new study by the Everest Research Institute.

The Institute study,
Human Resources Outsourcing (HRO) Annual Report, provides comprehensive coverage of the global 2008HRO market, including detailed analyses on market size and buyer adoption, transaction characteristics, and supplier landscape. Study scope includes focus on North America, Europe, Asia Pacific, and Latin America; suppliers having signed at least one HRO transaction; and all industries.

Says Gaurav Gupta, Principal & Country Head, Everest Group, "The growth of multi-process HRO market slowed in 2008, and is estimated to reach US $2.9 billion by the end of the year (in terms of annual contract value). Compared to 47 new deals signed in 2007, Everest estimates only 28-32 deals to be signed in 2008. However, multiple factors will ensure market growth in the future. Overall offshore adoption in HRO is low compared to offshoring in finance & accounting, customer service & IT. We expect it to increase in coming times. In the last 12 months, all key offshoring regions grew, both in terms of number of suppliers and FTEs, with India growing the fastest." The number of suppliers of multi-process HRO has grown from 9 in 2006 to 13 in 2007, and while the FTEs have more than doubled from 4600 to 10900, he added.

Other high-level insights from the in-depth analysis include:
    * Changing dynamics: In a slowing economy, buyers prefer a componentized model over a wide-scope transformation model. Further, an "offshore-led" lift-and-shift (of employees and functions) model is coming into play for buyers looking for earlier cost savings.

    * Buyer adoption trends: Buyer adoption varies across geography, industry and employee segments. Demand from continental Europe and the United Kingdom continues to rise. Manufacturing, high-tech and telecom, and financial services are leading HRO adopters. In terms of number of deals, the mid-market is growing at a faster rate than the large market.

    * Potential and penetration: The multi-process HRO market has low penetration, especially in the mid-market. Both the mid-market and large market have comparable revenue potential.

"HR services suppliers in the United States are being challenged by a growing base of European- and India-headquartered competitors that are well positioned to offer buyers near-term cost-cutting solutions that can be realized through labor savings and transaction-focused offerings," said Monica Barron, Vice President, Everest Research Institute. "U.S. suppliers that are focused on wide-scope transformational models and judgment-intensive process value propositions must re-calibrate business strategies as buyers retreat toward more simple, component-focused engagements. If suppliers don't adjust to these new market dynamics, they won't survive."



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