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52% Expect to Increase Domestic Workforce, 59% Project
Higher Revenues
NEW YORK, January 6, 2004—More than half
(52%) of U.S. executives surveyed anticipate their company’s domestic
workforce will increase in 2004—up from 38 percent in 2003—according
to American Management Association. Thirteen percent of those surveyed
expect to have fewer employees in 2004, down from 22 percent in 2003.
“AMA surveyed its executive members and customers
in December 2003 for its 2004 Job Outlook Survey. Of the 229 respondents,
most said they anticipate their organizations will offer raises (76%),
bonuses (61%) and promotions (55%) in 2004.
Of the 52 percent of organizations that expect to grow
their U.S. workforce in 2004, 78 percent said they experienced or anticipated
a greater demand for products or services. According to the respondents,
there is an adequate (58%) or abundant (12%) supply of skilled workers
in the fields from which they recruit, compared to 30 percent who said
that qualified candidates were scarce.
The 13 percent of companies that anticipate reducing
personnel cited organizational restructuring (48%), automation or other
new technological processes (42%) and re-engineering of business processes
(37%) as primary reasons. Other factors include improved staff utilization
(33%), outsourcing or contracting (32%) and lesser demand for products
or services (28%).
According to AMA’s survey, 45 percent of companies
that responded said they did not match revenue targets in 2003, compared
to 18 percent of the companies that exceeded their targets. More companies
are optimistic for 2004. In fact, 59 percent are projecting a higher rate
of performance, 27 percent are trying to maintain the same performance
and 14 percent have lowered projections for 2004.
About AMA
American Management Association is the world’s leading membership-based
management development organization. For 80 years, it has provided valuable
and practical action-oriented learning programs to people at all levels,
in all industries, from companies and agencies of all sizes. More than
500,000 AMA customers and members a year learn new skills and behaviors,
gain more confidence, advance their careers and contribute to the success
of their organizations through a wide range of AMA seminars, conferences
and executive forums, as well as through AMA books and publications, research
and print and online self-study courses.
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