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January 31, 2003

For Immediate Release:


While Some Sectors See Hiring Trend Up In Next Six Months

DALLAS, Texas — A recent survey conducted by The Broadmoor Group, a Dallas-based global executive search consultancy, suggests that executives of major corporations have lowered their expectations for improved business conditions over the next six months. However, a higher percentage of executives responding to the January 2003 survey believe that executive and senior level hiring will increase during the next six months as compared to executives responding one year ago.

Twenty-four percent (24%) of executives overall see an increase for 2003 versus nineteen percent (19%) of executives who responded in January 2002. This trend may be the result of increased demands on an already reduced executive workforce and their anticipation of an improved economy later in 2003.

Financial executives expressed the highest degree of optimism regarding increased executive hiring within their companies. Thirty-three percent (33%) of financial services executives indicated executives hiring within their companies would increase in the next six months, followed by 25% of telecommunications executives, 24% of professional services executives, 20% of software/IT executives and 16% of manufacturing executives.

However, the 2003 results indicate that executive optimism with regard to business conditions is actually lower than in January 2002, when 72% of executives indicated they expected conditions to improve in the first six months. The most recent numbers reflect just 61% of executives believe conditions within their companies will improve during the first six months of 2003. This may be due, in large part, to continued geopolitical uncertainty.

Optimism about business conditions varies by industry. Seventy-one percent (71%) of professional services executives surveyed expect business conditions to improve in the next six months, followed by 67% of software/IT executives, 60% of manufacturing executives, 57% in financial services and only 44% of those in telecommunications.

“Executives remain generally reserved, while there still remains some uncertainty in the overall economic outlook notes The Broadmoor Group. Despite the fact that many industry sectors look to maintain current headcount, others look to make strategic hires to achieve their most critical business objectives as they move into the new fiscal year.”

The survey was emailed to 500 executives working with some of the 1,000 largest companies in the nation. Over 175 responses were registered. For more information about the survey, you may contact Randall James Monroe, Inc. at 972-392-3200.