2011 chicago job market conditions report

LOCAL MARKET

CHICAGO 2011 JOB CANDIDATES Insights and Analysis from Professionals, Recruiters and Hiring Managers

Sponsored by:

Brought to you by Monster Intelligence

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

CHICAGO – 2011 JOB CANDIDATES Chicago professionals should find improved hiring conditions in 2011 as the area slowly rebuilds its economy. It will take time as well as continued ups and downs to get each of Chicago‟s critical sectors, including financial services, media, education, and transportation, productive and hiring. The Federal Reserve Bank of Chicago, www.federalreserve.gov, is “cautiously optimistic” about the outlook for 2011. The most recent economic indications were positive with increased consumer spending, business spending, and manufacturing production. Monster leveraged more than 1.1 million Chicago resumes coupled with online job postings for Chicago talent in order to gain insight into candidates and employers. Data is current through December 2010 unless otherwise noted. Additionally, Monster surveyed active Chicago professionals, HR professionals and hiring managers to present a snapshot of activity within the United States on Monster. The surveys were conducted between November and December 2010. About the Sponsor:

Staffmark has a long and successful history in the staffing industry. Founded in 1970, we have now grown to be one of the top ten commercial staffing companies in the United States. Staffmark has a reputation for outstanding customer service, and we are committed to matching quality companies with only the most skilled and talented candidates, the first time, and every time! We have been in business for over 38 years and have more than 300 locations in 31 states. Our longevity in the market, strategically placed branch offices, extensive candidate and customer base, and focus on superior customer support allow us to deliver world-class service on a targeted, personal level.

TABLE OF CONTENTS

Hiring Talent in 2011 3

Chicago Talent 3

Career Talent 4

Education Talent 4

Experienced Talent 4

Job Search Conditions 5

Market Conditions 6

Market Overview 6

Unemployment Rate 8

Payroll Change 8

Online Recruitment Trends 9

Recruitment Activity 10

Hiring Conditions 11

Supply and Demand Analysis 12

Labor Performance Matrix 14

Career Level Requirements 16

Education Level Requirements 16

Experience Requirements 16

Job Type Requirements 17

Job Status Requirements 17

Qualifications and Benefits 18

Compensation 19

Conclusion 20

Monster Intelligence 20

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HIRING TALENT IN 2011 Chicago Talent The following data analyzes the supply (resumes) of Chicago professionals on Monster. It provides a current picture of Chicago talent availability in the United States. Listed below are the top ten Chicago occupations in supply and their share of volume. These occupations account for 87 percent of Chicago‟s talent.

Skills Listed in the chart below are the top skills made available by Chicago candidates on their Monster accounts. The list is full of technical skills, including computer skills and software packages, as well as administrative functions, such as typing, filing, and office equipment. The most popular soft skills include Communications, Leadership and Organization.

Office and Administrative Support - 23%

Management - 21%

Computer and Mathematical - 10%

Business and Financial Operations - 9%

Sales and Related - 8%

Architecture and Engineering - 4%

Arts, Design, Entertainment, Sports, and Media - 3%

Production - 3%

Life, Physical, and Social Science - 3%

Healthcare Practitioners and Technical - 3%

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The charts below give a detailed profile of Chicago talent found on Monster including career experience, education level and work experience. Chicago candidates found on Monster are typically mid-career with at least a Bachelor‟s degree and have more than fifteen years of experience.

Career Talent Forty-five percent of Chicago job seekers in 2011 are mid-career. Thirty percent are managers or above while 24 percent are emerging into today‟s workforce.

Education Talent Fifty-two percent of Chicago job seekers in 2011 have at least a Bachelor‟s degree. Twenty-four percent have an Associate degree or some college experience.

Experienced Talent The majority (25 percent) of Chicago job seekers have more than fifteen years of work experience. The second largest group has two to five years of experience (18 percent).

Executive5%

Manager26%

Mid Career45%

Entry Level15%

Student9%

Career Level

Masters or Above15%

Bachelors37%

Associate/Some-College

24%

High School14%

Certification-Vocational

5%

Education Level

More than 15 Years

10+ to 15 Years

7+ to 10 Years

5+ to 7 Years

2+ to 5 Years

1+ to 2 Years

Less than 1 Year

0% 10% 20% 30%

Years of Work Experience

5


Excellent

10%

Good

29%

Average

26%

Fair

17%

Poor

18%

Ability to Find Chicaog Job Opportunities That

Meet Requirements

Job Search Conditions In a recent Monster survey of nearly 1,000 Chicago professionals, respondents were asked if they were actively

searching for a new opportunity and why they were looking. The primary reason Chicago professionals are looking for a

job is due to layoffs that occurred and continue to occur in Chicago, which shows that despite improvements in the

economy, uncertainly and frustration still exists. Further suggesting discontent among working professionals, other

responses included salary is not as desired, limited or no potential for upward mobility, and seeking a career change.

Re-entry into the workforce was also a common theme. With the uncertainty of the economy many stay at home mom‟s,

retired individuals, and those unemployed for extended periods of time are seeking re-entry into the workforce.

The top five reasons Chicago professionals are searching for a job include:

1. Layoffs occurring/occurred (27 percent)

2. Salary is not as desired (21 percent)

3. Limited or no potential for upward mobility (17 percent)

4. Seeking a career change (16 percent

5. Re-entering the workforce (13 percent)

Factors less likely to drive candidates to look for a job were „relationship with a peer or manager‟.

Chicago professionals report that they are somewhat

finding success in meeting their expectations and

requirements. Thirty-nine percent are finding „Good‟ to

„Excellent‟ conditions, which is slightly encouraging

news in this rebounding region.

Those respondents that reported „Average‟ to „Poor‟

conditions were asked “What makes it challenging

looking for a job”. The two primary reasons job seekers

had a difficult time finding Chicago positions were

„getting an employer or recruiter to contact them‟ and

„finding a job that matches what they want (e.g., salary,

locations, etc.)‟.

From Monster‟s recent survey to Chicago professionals,

the majority of respondents (68 percent) are most

comfortable with visiting online job boards to search for

opportunities and post their resume.

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Market Conditions Chicago‟s diverse and substantial economy has hit bottom and begun the climb back to positive territory. Unemployment and payroll change metrics are slowly improving; indicating businesses are stabilizing and expanding. Despite the positive momentum, Chicago‟s economy and employment will take several years to achieve a full recovery.

Market Overview Similar to New York City, Chicago has a wide array of business sectors. It is a major world financial center, is the nation‟s third largest media market, and hosts a significant number of advertising agencies and manufacturing, publishing, printing, and food processing companies. The area is also a strong transportation and distribution hub, with an inland port and one-half of the nation‟s freight trains passing through the area. In addition to the city‟s $95 million highway resurfacing project, O‟Hare has begun a major $15 billion modernization program, which is projected to create jobs and cash flow through 2026. Education is a notable employment sector (15 percent of total employment) due to top universities in the area, including University of Chicago and Northwestern, and its operation of the third largest public school system in the nation with 400,000 students enrolled. Lastly, tourism thrives because of the local attractions and convention facilities attracting

over 35 million visitors annually.1 In November 2010, Chicago had 4.4 million employed, 440,600 unemployed, and a 9.0 percent unemployment rate. Note the measured area defined by the Bureau of Labor Statistics includes the geography in and around Chicago,

Illinois; Joliet, Indiana; and Naperville, Wisconsin.2 Chicago‟s key employment industries are the following

3:

1 “REJournals.com’s “What’s Next? A Look Ahead at Chicago’s Industrial Market” by James A. McShane 10/12/10

2 Bureau of Labor Statistics, www.bls.gov

3 Chicago Workers Employed by Industry; Bureau of Labor Statistics, October 2010 data

Industry Percent of Chicago Employment

Trade, Transportation, and Utilities 20%

Professional and Business Services 15%

Educational and Health Services 15%

Government 14%

Manufacturing 10%

Leisure and Hospitality 8%

Finance 7%

Other Services 4%

Construction 4%

All other industries 2%

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0%

10%

20%

30%

40%

50%

60%

<10 11-50 >50

Number of Chicago Positions

to Fill in Next Six Months

Demonstrating that improvement is happening, but happening slowly, Chicago reported a loss of 62,100 jobs or 1.5 percent of its workforce from October 2009 to October 2010 compared to a loss of 255,400 jobs the prior year period. The loss in Manufacturing jobs stabilized (-200 drop in jobs) while the drop in Construction (- 22,500 jobs and 13 percent of its employment base) and Professional & Business Services (-15,300 and 2 percent of its workforce) continued. Education & Health Services was the only sector to expand during the year, adding a minor 4,800 jobs. Moody‟s Economy.com December 2010 forecast predicts improved job conditions over the next twelve months, with an expected 2.4 percent increase in jobs. While most sectors are forecasted to expand, the strongest percentage increase is expected in Professional & Business Services (+6.6 percent). Like its economy, Chicago‟s housing market is experiencing a slow turnaround. In November, the city‟s Case-Schiller House Price Index, which tracks changes in the residential housing market, was down a significant 7.6 percent for the year and 2.2 percent from October to November; it was one of nine markets to report a new low. In September 2010, 42.5 percent of all home sales in the Chicago area were distressed properties and the average price paid for a home

was $238,592, down 4.6 percent from a year earlier.4 Predictions for 2011 are that the year will be similar to 2010, reporting continued positive but measured growth. Chicago will closely track the national economy and recovery and rely on the nation to generate local momentum, especially in

financial services and transportation.5 Supporting the forecast of constrained growth, a recent Monster survey of more than 400 Chicago recruiters and hiring managers asked “How many positions do they intend to fill in the next six months” and “What percent of the positions they expect to fill are new openings vs. replacement positions”. A majority of those hiring in the next six months are filling a limited numbers of roles (54 percent plan to hire less than ten positions) and very limited new roles (59 percent plan that less than 25 percent of positions will be new).

4 Standard & Poors’ Case-Schiller Home Price Indices, November 2010;The Home Front’s “Distressed property bargains create glut in

Chicago housing market” by Don Debat 10/27/10 5 The PNC Financial Services Group’s “Regional Economic Outlook” Fourth Quarter 2010

0%

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40%

<10% 10% to 25% 25% to 50% 50% to 75% 75% to 100%

New Openings versus Replacement Chicago Positions

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Chicago vs. National Unemployment Rate, %

Nov '07 - Nov '10

Chicago National

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Chicago vs. National Payroll Growth, % YoY

Nov '07 - Nov '10

Chicago National

Unemployment Rate Improvement in the Chicago unemployment rate supports indications of a recovering economy. The city‟s rate has fallen from its peak of 11.7 percent in January 2010 to 9.0 percent in November. The area‟s unemployment rate is stronger than the nation‟s November rate of 9.8 percent (and December rate of 9.4 percent) and Illinois‟ 9.6 percent November rate. The unemployment rate is a lagging measure that indicates both joblessness and strength of the economy. National and state figures are seasonally adjusted.

Payroll Change Job creation in the Chicago metro area dropped a slight 1.2 percent in November; though still negative, this performance continued a significant improvement trend seen throughout 2010. As comparison, the nation‟s payroll has reported strong recovery with positive expansion since August and a solid 0.6 percent growth in November. Payroll change is a key measure of new job creation (or loss), as it measures the total number of people employed in an area every month.

9


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Chicago "New" Online Job Ads - Dec'07 - Dec '10

Job Ads YoY Change

Online Recruitment Trends The Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activity by location, occupation, and industry. As seen below, online job recruitment activity in the Chicago metro area has steadily improved during 2010 despite a slight slowdown typically seen over the holiday season. Though levels remain far below 2007 and the first half of 2008, signs are positive that Chicago employment is on the mend.

By the end of 2010, the Chicago MEI gained 30 percent (+14 points) since a year prior or 42 percent (+23 points) from its January 2010 low point.

During December, only 1 of the 21 occupational categories monitored by the Chicago Index showed reduced online demand for workers from a year ago: Military Specific (-6 percent or -5 points). The greatest improvements were seen in Personal Care and Service (+13 percent or 55 points) and Transportation and Material Moving (+69 percent or +46 points).

The Monster Employment Index presents a monthly snapshot of employer online recruitment activity nationwide for 28 of the largest metro areas, and is generally regarded as a key indicator of demand in the labor market. The Index is based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster. Using a baseline value of 100, the Index can be used to compare hiring trends across local markets and occupational groups. As such, a higher Index figure means stronger growth in online job availability.

Chicago opportunities across all major online job boards have reported positive expansion following two difficult years.6

Chicago job postings in 2008 fell 28 percent and in 2009 dropped another 24 percent. Postings were positive throughout 2010 resulting in a significant 28 percent gain for the year.

6 Wanted Technologies, New Online Ads, Dec ‟08-Dec‟10

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Recruitment Activity The companies posting Chicago jobs on Monster in 2010 varied across industries. Listed below are the top twenty (out of nearly 800 industries) not including staffing or temporary employment agencies that may post for a variety of industries. The top twenty industries posted 46 percent of the Chicago jobs on Monster in 2010, with the highest volume (9 percent) in Industrial & Personal Service Paper (wholesale trades).

The types of roles Chicago companies posted over the past year include opportunities largely for Finance (19 percent), IT (17 percent), and Sales (15 percent).

Chicago Job Postings by Category % Total Job Postings

Accounting/Finance/Insurance 19%

IT/Software Development 17%

Sales/Retail/Business Development 15%

Marketing/Product 5%

Business/Strategic Management 5%

Medical/Health 4%

Engineering 4%

Logistics/Transportation 4%

Administrative/Clerical 3%

Manufacturing/Production/Operations 3%

All Other 21%

9% - Industrial & Personal Service Paper

6% - Accounting, Auditing & Bookkeeping

5% - Management Consulting

4% - Computer Programming Services

3% - Radio & Telephone Communications

2% - Business Services

2% - Insurance Agents, Brokers & Services

2% - Computer Related Services

2% - Fire, Marine & Casualty Insurance

2% - Advertising Agencies

1% - Eating Places

1% - Business Consulting

1% - Social Services

1% - Highway & Street Construction

1% - Trucking

1% - Grocery Stores

1% - Management Services

1% - Security Broker & Dealers

1% - Personal Credit Institutions

1% - Pharmaceutical Manufacturers

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Excellent

26%

Good

45%

Average

21%

Fair

6%

Poor

2%

Ability to Find Chicago Professionals That

Meet Requirements

Hiring Conditions Surveyed recruiters predict filling Chicago roles will move fairly quickly. Nearly half (46 percent) of respondents expect it

will take an average 31 to 60 days to fill a position and 29 percent predict each opportunity will take fewer than 30 days.

24 percent plan hiring will take more than 60 days.

With the excess of candidates looking for work, it is no surprise that recruiters are having a relatively easy time finding

qualified candidates. A very strong 71 percent of respondents said their ability to find Chicago candidates was “Good” to

“Excellent”.

Those few respondents that reported „Average‟ to „Poor‟

conditions were asked “What makes it hard to find

candidates”. The primary reason recruiters and hiring

managers had a difficult time recruiting for Chicago

positions was „time required to hire‟, most likely due to

the surplus of resumes that they must review to find the

ideal candidate. The next two challenge areas were

„insufficient budget‟, showing that budgets are still

constrained, and „unclear job descriptions‟.

When looking at the challenges of the candidates

themselves, responses reveal that recruiters are

frustrated with the types of candidates they are seeing

and the fact that they cannot offer them adequate

compensation. The most popular responses were

„under-qualified candidates‟, „not enough candidates‟,

and „compensation below candidate expectation‟.

Recruiters noted the top five areas with planned hiring in Chicago include:

1. Sales (43 percent)

2. IT (34 percent)

3. Engineering (29 percent)

4. Accounting (19 percent)

5. Manufacturing/Production (18 percent)

Looking at the methods Chicago‟s recruiters and hiring managers use to recruit talent, most respondents (86 percent)

are most comfortable with going to online job boards to source candidates.

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Supply and Demand Analysis The Chicago area encompasses counties in the states of Illinois and Indiana. A comparison of Monster job seekers seeking employment in the market compared to the volume of job postings in the area reveals higher supplies of talent in the counties of DeKalb in Illinois and Jasper in Indiana, denoted by the darker green areas in the map below. Recruitment for candidates in Lake, Cook and Grundy in Illinois, noted in light green, may be more competitive as the ratio of resumes per job posting is comparatively low.

The types of roles these candidates are seeking span a wide range of areas with the highest volume targeting Accounting/Finance/Insurance (18 percent), IT/Software Development (16 percent), and Sales/Retail/Business Development (15 percent).The Chicago seekers are more concentrated and Administrative/Clerical roles ranked much lower compared with other regions.

Chicago Job Seekers by Category % Total Job Seekers

Accounting/Finance/Insurance 18%

IT/Software Development 16%

Sales/Retail/Business Development 15%

Medical/Health 5%

Marketing/Product 5%

Logic/Transportation 4%

Business/Strategic Management 4%

Engineering 4%

Administrative/Clerical 4%

Manufacturing/Production/Operations 3%

All Other 22%

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The remainder of this report will focus on key Chicago professions and how supply and demand measures up when recruiting for this multifaceted talent pool.

Over one-third of the talent supply (34 percent) and demand (36 percent) in Chicago are for the top ten occupation clusters provided above. Seven of the top ten opportunities in demand may be found among the top candidates in supply. Plan for extra time to weed through the excess of resumes and seek prospects to transition candidates into other opportunities. Listed below are the top 20 out of over 2,700 job titles in which Chicago job seekers are interested. These 20 job titles accounted for 26 percent of the Chicago talent. The frequency of administrative, customer service and manager roles, common across regions, is particularly strong in Chicago.

# Job Titles (1-10) # Job Titles (11-20)

1 Administrative Assistant 11 Office Manager

2 Customer Service Representative 12 Receptionist

3 Sales Representative 13 Software Engineer

4 General Manager 14 Business Systems Analyst

5 Assistant Manager 15 Clerk/Typist

6 Project Manager 16 Call Center Representative - Financial Services

7 Executive Administrative Assistant 17 General Director

8 Customer Service Associate 18 Medical Assistant

9 Office and Administrative Support Workers, Other 19 Accountant

10 Financial Analyst 20 Programmer - Entry Level

Jo

b S

ee

ke

rs

Em

plo

ye

rs 1. Computer Software Engineers, 8%

2. Marketing/Sales Managers, 4%

3. Computer Systems Analysts, 4%

4. General/Operations Managers, 4%

5. Human Resource Specialists, 3%

6. Accountants/Auditors, 3%

7. Secretaries/Administrative

Assistants, 3%

8. Financial Analysts/Advisors, 3%

9. Computer Hardware Engineers, 2%

10. Financial Managers, 2%

● ● ●

1. Secretaries/Administrative

Assistants, 6%

2. General/Operations Managers, 4%

3. Marketing/Sales Managers, 4%

4. Customer Service Representatives,

4%

5. Other Managers, 4%

6. Computer Software Engineers, 3%

7. Financial Analysts/Advisors, 3%

8. Sales and Related, 2%

9. Computer Systems Analysts, 2%

10. Human Resources Specialists, 2%

● ● ●

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The top 20 (out of more than 2,500 titles) Chicago job titles posted on Monster.com from January 2010 to December 2010 were dominated by IT, financial and administrative positions and accounted for 22 percent of all job titles.

# Job Titles (1-10) # Job Titles (11-20)

1 Hardware Test Engineer 11 Customer Service Representative

2 Sales Representative 12 Software Engineer

3 Group Leader 13 Regional Sales Manager

4 Lawson System Administrator 14 Actuarial Analyst

5 Product Manager 15 Consulting Manager

6 Executive Administrative Assistant 16 Administrative Assistant

7 Quality Services Supervisor 17 Sr. Consultant

8 Sr. Accountant 18 Financial Analyst

9 Staff Accountant 19 Manufacturing Engineering, Other

10 Executive Recruiter 20 Engagement Manager

Labor Performance Matrix The Labor Performance Matrix below and on the next page compares job posting and resume performance within the key Chicago occupation clusters. The size of the circle represents the supply, based on the ratio of resumes per job from January 2010 through December 2010. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle represents areas where the demand may outweigh the supply.

How to Read the Matrix: Talent Surplus Not enough jobs to match supply Plan for increased volume of candidates Focus on skills migration Incubator Opportunities (Growth Areas) High growth potential High Performance High growth in jobs and talent Focus on keeping talent Talent Shortage Not enough talent to meet demand At risk for competition

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Talent Surplus

Administrative, Customer Service and Production sit in the Talent Surplus quadrant. These occupations each have a lack of job opportunities and surplus of seekers. Chicago recruiters will spend extra time recruiting for these sectors as additional screening will be required. Recruiters could consider retraining or other workplace development programs to ensure the surplus of candidates are put to work.

Incubator Opportunities (Growth Areas)

The growth occupations span a wide range of occupations, many of them tending towards the Talent Surplus area. These areas are prime for candidate and/or job opportunity expansion.

High Performance

IT, Sales, and Finance sit in the High Performance quadrant, meaning there is a steady volume of both job postings and seeker resumes. The circles‟ small size indicates demand might outweigh supply; categories may drift into the talent shortage quadrant. As the economy and employment opportunities expand, ensure programs are in place to keep existing talent and knowledge pool. Plan additional time for recruiting talent into thse positions and look towards realigning training programs to ensure prompt transition of new hirers.

Talent Shortage

There are no occupations in the Talent Shortage quadrant, supporting a current surplus of candidates and lack of opportunities in Chicago. The matrix below summarizes occupational supply and demand from January 2010 through December 2010.

Talent Surplus

High Performance Zone

Talent Shortage Incubator

Zone

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In the following analysis, we compare Chicago‟s talent demand (job postings) with talent supply (resumes) across a range of characteristics. The comparisons reveal the similarities and disparities between the available jobs and the searching seekers. This analysis provides direction for recruiters and employers in setting their expectations and development areas.

Career Level A vast majority of job postings (71 percent) are for Mid-level candidates, compared to 45 percent of available seekers. This disparity is typical and indicates recruiters could have a difficult time hiring, as an excess of under and over-qualified candidates are in the market.

Education Level Chicago recruiters primarily seek candidates with at most a Bachelor‟s Degree (67 percent), while only 37 percent of seekers have at most a Bachelor‟s. As more seekers than opportunities fall in the Master‟s/Doctorate and Associate/Some College education level, recruiters might have to settle for an under or over-qualified candidate, potentially causing frustration and conflict.

Experience Level As shown in the chart below, Chicago employers are currently seeking to fill roles for those in their early to mid-career; 61 percent of postings are for individuals with 2 to 7 years of experience. Seekers, on the other hand, are more experienced; 55 percent have over 7 years of experience. While, again, this disparity is typical, it shows that recruiters might be challenged as they try to fill the ranks with lower level, less expensive hires compared to the seekers available. Further, companies risk the potential „brain drain‟ from the loss of more senior employees.

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Job Type Requirements Twenty percent of current Chicago online positions on Monster are for temporary/contract work while 20 percent of seekers are open to temporary, contract, intern, and seasonal work. Temporary work typically grows the fastest as the economy improves due to employers hiring conservatively for the short-term. With 79 percent of job seekers desiring permanet employment and 20 percent willing to step into either a perment or temporary role employers should be able to support current hiring needs for this requirement.

Job Status Requirements Employers should find adequate supply based on employment status: 95 percent of job postings are for full-time employment and 5 percent for part-time, while 80 percent of candidates are open to full-time employment, 2 percent for part-time, and 18 percent for either.

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Qualifications and Benefits As employers look through reams of resumes, the most important qualifications Chicago professionals place the greatest importance on when applying for opportunities is type(s) of work experience (76 percent) and years of work experience (73 percent). Recruiters agree that the type of work experience is critical in the evaluation of Chicago candidates. When asked “What were the most important qualifications in recruiting Chicago talent”, hirers responded types of work experience (90 percent) and years of work experience (80 percent) followed closely by personality/cultural fit (76 percent).

Listed below are the most important factors Chicago professionals consider when evaluating a job opportunity. Note that these characteristics have been influenced by the recessionary economy and corporate scandals over the past few years, as „stability of position‟ and „salary‟ ranked in first and second, respectively. Recruiters were also asked how they would rate the same list of factors in terms of their importance to recruiting talent. While stability of position and salary ranked high, bonuses and raises was the number one featured factor in recruiting talent. This may be further evidence of recruitment struggles as employers try to entice those golden employees.

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Compensation Compensation expectations for recruiters and candidates are in fairly close alignment, giving encouragement that recruiters can easily satisfy a potential recruit‟s salary expectations. The median salary offered in 2010 was $62,500 and the median salary candidates were seeking was $50,000. (Please note these salary requirements may represent total compensation for some job seekers and only a base salary for others.) A majority of both Chicago job postings and job seekers on Monster offer/desire a salary ranging from $20-40,000 (31 percent and 35 percent, respectively).

The most significant disparity between recruiters and seekers is at $60,000, where a higher percentage of employers offer greater salaries than candidates are requiring. Sixty-seven percent of Chicago job seekers expect to earn less than $60,000 though only 56 percent of employers plan to offer less than $60,000.

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Diversify Your Recruitment Strategy in 2011

As the nation emerges from its downturn, recruiters should keep in mind the following points when planning for the next 12-months.

Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presence

and sourcing candidates. Today's recruiters must actively network across the Internet to get a more holistic view of the

applicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individuals

access advice from industry experts and keep on top of trends. These communities also offer employers access to a

pool of targeted candidates.

Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicate

frequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs and

eliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Search

application, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiters

save time and money sourcing candidates that precisely match their positions.

Spend accordingly. As budget managers remain cautious, leverage as many benefits as possible that attract and

retain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveraging

Monster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reports

and webinars covering the most current issues facing not only job seekers, but recruiters as well.

Monster Intelligence As the premier digital employment solution, Monster has consistently maintained a leadership position in defining and driving innovative products and services to champion digital recruitment. We see tremendous value in providing our clients, the online recruitment industry, and the public at large with analysis on both job seeker and employer behaviors, as well as general employment market trends. In direct response to our customers‟ needs for strategic human capital intelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leaders and HR Executives real-time insight into market trends that will guide them in future recruitment planning. As a market leader, Monster is uniquely positioned to provide strategic information on employment trends to Corporate Executives and Hiring Managers. These tools provide our customers with views into the labor market and comprehensive information to further their employment strategy. More details are available at the Monster Resource Center at: http://hiring.monster.com/hr/hr-best-practices.aspx. We welcome your insight and comments on the Monster Intelligence reports and encourage you to let us know your thoughts by providing feedback at [email protected] Monster is the primary source of information for this report; it should only be interpreted as a definitive activity report on Monster and its subsidiaries. Monster‟s in-depth data-driven approach improves on typical survey-based methodologies by dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior rather than intended behavior. Data is current through December, 2010 unless otherwise indicated.

http://hiring.monster.com/

http://hiring.monster.com/hr/hr-best-practices.aspx

mailto:[email protected]

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