4 in 10 companies to freeze hiring in 2013

The good news is only 1% of companies are expected to retrench next year.

According to a survey by Remuneration Data Specialists, a total of 83% of companies hired or plan to hire staff in 2012. For next year 2013, less companies (58%) plan to hire staff and the number to be hired will also be lower.

Here's more from RDS:

With optimism, probably, spilling over from the last six months, companies are slightly more optimistic for the next six months. However, due to the sluggish US recovery, the continuing euro crisis and China’s slowing growth, most companies are, not surprisingly, cautious about next year’s wage increases, bonuses and recruitment.

Recruitment

The average number recruited per company in 2012 and the number to be recruited next year are:

This year (2012)

Managers: 6

Executives: 16

Non-executives: 28

Next year (2013)

Managers: 3

Executives: 12

Non-executives: 24

Staff Turnover

8% of the companies retrenched or plan to retrench staff in 2012, higher than the 3% in 2011. For next year only 1% expect to retrench. 81% of companies experienced staff turnover in 2012, slightly lower than the 88% in 2011. For next year, only 43% of companies are likely to experience staff turnover and the turnover rate is also expected to be lower.

The annual turnover rate for this year will average:

4% for Managers
6% for Executives and
6% for Non-Executives.

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