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Piper Jaffray Publishes 2005 Human Resources Outlook Survey
MINNEAPOLIS, April 12 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. Senior
Analyst Brett Manderfeld and a team of analysts recently released the findings
of a proprietary survey of human resource professionals. The national survey,
which was conducted by Harris Interactive(R) (HPOL, Market Perform, $4.70)
included more than 320 human resource professionals designed to provide
institutional investors deeper insight into key trends and spending plans
across the U.S.-based human resources community.
The survey took a close look at the human resources market and covered topics
ranging from hiring plans for this year by functional area and recruitment
channel to overall trends and budgeting plans for human resource technologies,
outsourcing and offshoring initiatives and company-provided education.
Findings of the survey suggest 2005 to be a solid year for headcount growth
with overall hiring of full-time employees forecast up five percent more than
2004. Roughly four times the number of respondents indicated plans to increase
headcount in 2005, versus those planning declines (44 percent, versus 11
percent) while 45 percent expected to maintain current levels, versus last
year.
"In online recruitment, we expect Monster (MNST, Outperform, $28.08) to
maintain its dominant market share position relative to CareerBuilder in 2005,
while the rate of online recruitment spending will dramatically outpace that of
newspapers, recruiters and job fairs this year," said Manderfeld. "Based on our
interpretation of the data, we expect spending growth in the online employment
market to increase 12 percent in 2005 with Monster's market share advantage
expected consistent with 2004 spending levels at roughly two times
CareerBuilder and five times HotJobs."
The survey also suggest that the overall market for pre-employment background
screening is also expected to grow 12 percent in 2005 and ChoicePoint (CPS,
Outperform, $38.98) is by far the most recognized and used vendor of any
company in this very fragmented space. Additionally, although respondent
familiarity with particular temporary staffing firms is generally low, most
likely because of the fragmented nature of this market. Among the four firms
mentioned in the survey, Adecco, Kelly Services, ManPower and Robert Half,
(RHI, Outperform, $25.44), respondents who were familiar with the firms rated
Robert Half highest in terms of job candidate quality.
The 2005 Human Resources Outlook Survey also includes information in enterprise
software, technology BPO, infrastructure software and learning services. The
survey points out that Oracle's (ORCL, Outperform, $12.40) acquisition of
PeopleSoft has had little effect on the likelihood of purchasing PeopleSoft
applications, with 93 percent of total respondents saying their likelihood of
doing so remains unchanged. In fact, 97 percent of PeopleSoft customers
surveyed expect spending on PeopleSoft applications to either remain the same
or increase in 2005, with nine percent of PeopleSoft customers seeing an
increase in spending on PeopleSoft applications even though they will be buying
them from Oracle.
The survey points to expected growth in new outsourcing initiatives focused
around companies of all sizes. Additionally, the survey suggests that network
management will see the highest percent headcount growth within the IT group in
2005. Lastly in learning services, about 80 percent of the companies surveyed
are maintaining 2004 tuition reimbursement allotments in 2005 and 12 percent
have increased these allotments.
Survey Methodology
Harris Interactive conducted the online survey on behalf of Piper Jaffray & Co.
between February 21 and 28, 2005 among 324 U.S. adults aged 18 and over who are
employed as human resource professionals and are at least aware of their
company's hiring decision process. Data were weighted where necessary using
targets for companies with 99 or fewer employees up to companies with 10,000
and more employees provided by Dun & Bradstreet to align them with their
proportions in the population.
Though online surveys are not probability surveys, in theory, with samples of
this size, Harris Interactive estimates with 95 percent certainty, that the
results for the overall sample have a sampling error of plus or minus six
percentage points. Sampling error for subsamples is higher and varies.
About Piper Jaffray
Piper Jaffray & Co. is the chief operating subsidiary of Piper Jaffray
Companies (NYSE:PJC), a focused securities firm dedicated to delivering
superior financial advice, investment products and transaction execution within
selected sectors of the financial services marketplace. The company operates
through two primary revenue-generating segments: Capital Markets and Private
Client Services. Piper Jaffray & Co. has served corporations, government and
non-profit entities, institutional investors and the financial advisory needs
of private individuals since 1895. Headquartered in Minneapolis, Piper Jaffray
has approximately 3,000 employees in 104 offices in 23 states across the
country and in London. For more information about Piper Jaffray, visit us
online at http://www.piperjaffray.com/ .
Since 1895. Member SIPC and NYSE.
About Harris Interactive(R)
Harris Interactive Inc. ( http://www.harrisinteractive.com/ ), the 15th largest
and fastest-growing market research firm in the world, is a Rochester,
N.Y.-based global research company that blends premier strategic consulting
with innovative and efficient methods of investigation, analysis and
application. Known for The Harris Poll(R) and for pioneering Internet-based
research methods, Harris Interactive conducts proprietary and public research
to help its clients achieve clear, material and enduring results.
Harris Interactive combines its intellectual capital, databases and technology
to advance market leadership through U.S. offices and wholly owned
subsidiaries: London-based HI Europe ( http://www.hieurope.com/ ), Paris-based
Novatris ( http://www.novatris.com/ ), Tokyo-based Harris Interactive Japan,
through newly acquired WirthlinWorldwide, a Reston, Virginia-based research and
consultancy firm ranked 25th largest in the world, and through an independent
global network of affiliate market research companies. EOE M/F/D/V
Research Disclosures
Piper Jaffray was making a market in the securities of Harris Interactive Inc.
at the time this research report was published. Piper Jaffray will buy and sell
Harris Interactive Inc. securities on a principal basis. Piper Jaffray has
received compensation for non-investment banking securities- related services
from Harris Interactive Inc. within the past 12 months.
Piper Jaffray was making a market in the securities of Monster Worldwide, Inc.
at the time this research report was published. Piper Jaffray will buy and sell
Monster Worldwide, Inc. securities on a principal basis.
Piper Jaffray was making a market in the securities of ChoicePoint Inc. at the
time this research report was published. Piper Jaffray will buy and sell
ChoicePoint Inc. securities on a principal basis.
Piper Jaffray was making a market in the securities of Oracle Corporation at
the time this research report was published. Piper Jaffray will buy and sell
Oracle Corporation securities on a principal basis. Piper Jaffray has received
compensation for non-investment banking securities-related services from Oracle
Corporation within the past 12 months.
Piper Jaffray was making a market in the securities of Robert Half
International Inc. at the time this research report was published. Piper
Jaffray will buy and sell Robert Half International Inc. securities on a
principal basis.
Piper Jaffray research analysts receive compensation that is based, in part, on
the firm's overall revenues, which include investment banking revenues.
Disclaimers
This material regarding the subject company is based on data obtained from
sources we deem to be reliable; it is not guaranteed as to accuracy and does
not purport to be complete. This information is not intended to be used as the
primary basis of investment decisions. Because of individual client
requirements, it should not be construed as advice designed to meet the
particular investment needs of any investor. It is not a representation by us
or an offer or the solicitation of an offer to sell or buy any security.
Further, a security described in this release may not be eligible for
solicitation in the states in which the client resides.
Notice to customers in the United Kingdom: Circulation of this report in the
United Kingdom is restricted to investment professionals and high net worth
individuals falling within Articles 19 and 49 of the Financial Services and
Markets Act (Financial Promotion) Order 2001 as amended. No one else in the
United Kingdom should read, rely on or act upon the information in the report.
The investments and services to which the report relates will not be made
available to others in the United Kingdom. Securities products and services
offered through Piper Jaffray & Co., member SIPC and NYSE, Inc., a subsidiary
of Piper Jaffray Companies.
Additional information is available upon request.
No part of this report may be reproduced, copied, redistributed or posted
without the prior consent of Piper Jaffray & Co. Copyright 2005 Piper Jaffray &
Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020
DATASOURCE: Piper Jaffray & Co.
CONTACT: Susan Beatty, Media Relations, Piper Jaffray & Co.,
+1-612-303-5680
Web site: http://www.piperjaffray.com/
http://www.harrisinteractive.com/