The 2002 Recruiter Budget/Cost Survey examined the budgets of 281 recruiting departments and how they are allocated. The results showed:
- 67% have annual recruiting budgets under $50,000
- 59% of those surveyed said their recruiting budget will remain the same this year
- 23% of those surveyed said their recruiting budgets will see a decrease this year
- 52% expect their recruiting budget to increase over the next five years
Recruiters also specified which sources returned the highest volume of candidates:
- 46% Newspapers
- 37% Internet
- 8% Referrals
- 3% On campus recruiting
- 2% Search firms
- 2% Temporary agencies
- 2% Other
Of these sources, recruiters felt the Internet provided the greatest return on investment, attracting the best talent for open positions.
However, newspaper advertising continues to be the most widely responded to and “many recruiters have found that the combination of print and online advertising techniques is the most effective way to fulfill recruiting objectives” according to Debbie Stremmel, Recruitment Marketplace Vice President.