Results from the 2010 Hiring Plans and Staffing Survey reveal that nearly two-thirds of technology and life science companies plan to increase headcount in 2010. Hiring freezes, furloughs, and layoffs are off the table for most companies (Figure 1).

Technology and life science companies are leading the job recovery. Compared to other sectors, on average, more tech and life science companies are planning to increase headcount and plan to do so at faster rates.

Headcount Growth Trends
The global economic crisis in late 2008 led many companies to freeze hiring and lay off employees. As a result, headcount growth rates dropped dramatically from 17 percent in 2007 to negative 1.7 percent in 2009.

As the economy begins to recover, most executives remain cautious about expanding headcount too quickly. On average, companies forecast overall headcount to grow by 1.7 percent in 2010
(Figure 2). Some companies reported that they are targeting key areas for growth, while holding other areas steady.

Other Key Survey Findings

• Sales and R&D focused jobs are projected to have the fastest levels of headcount growth
  in 2010. Companies also forecast strong growth in accounting & finance, IT, and customer service & support jobs.

• Companies are planning to increase non-employee, contract workers at a faster rate (5.3%)
  than employees (1.7%) in 2010.

• From 2007 to 2009, average voluntary turnover dropped from 14 percent to 7 percent, while involuntary turnover increased from 4 percent to 10 percent. During the same period, layoffs climbed from 4 percent to 7 percent.

• In 2009, voluntary turnover was higher for technology (7%) and life science (8%) companies than companies in other sectors (5%).

• Also see: Turnover: A Two-Edged Sword that Must be Watched Closely

Availability of Comprehensive Report as Downloadable PDF

• Free to participants in 2010 Hiring Plans & Staffing Ratios Survey

• Free to Culpepper Library and Small Company Plus subscribers.

• $295 for non-participants and non-subscribers (Order Form)

Data Source: Culpepper Trends Survey of 191 participating organizations.
Survey Dates: January 8 through March 26, 2010

Breakdown by Sector:
Technology 58%, Life Sciences 18%, Other 24%

Participant Breakdown by Number of Employees:
Up to 100: 31%, 101 to  500: 30%, 501 to 2,500: 21%, 2,500 to 10,000: 12%, Over 10,000: 6%

Participant Breakdown by Ownership/Corporate Status:
Public 31%, Private 59%, Non-Profit 9%, Other 1%

Participant Breakdown by Country:
United States 91%, Canada 4%, Other 5%

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