"There's no giant sucking sound coming from large U.S. businesses planning to expand their workforce," said Frank Brown, global leader of PricewaterhouseCoopers' Advisory practice. "The vast majority of planned new overseas jobs are related to expansion of overseas markets, rather than to offshoring by large U.S. businesses."
According to the survey, 46% of surveyed companies plan to increase employment over the next 12 months, adding an average of 4.4% net new-hires. Of these new jobs, 3.3% are expected to be in the U.S., and 1.1% in other countries. Workers for those companies expecting to hire are primarily U.S. based, with only 21% overseas employment on average.
Of the planned new overseas jobs, a large majority, 73% of the total, will be workers serving their local marketplace, while 27% will serve markets outside their home country, including the U.S.
PricewaterhouseCoopers' Management Barometer is developed and compiled with assistance from the opinion and economic research firm of BSI Global Research. The findings are from first quarter 2004 interviews with 82 U.S.-based companies. These companies average 30,064 employees in their total global workforce.
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This article was compiled and edited by CIO Update staff. Please direct any questions regarding its content to Allen Bernard, Managing Editor.
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