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New Hires of Middle Managers and Professional Projected for Second Half of 2005

Porsgrunn, June 2005—New hires in the managerial and professional segment of the work force are expected to rise during the second half of the year, according to the latest survey by Management Recruiters International (MRI), the world’s largest search and recruitment organisation. The study was comprised of personal interviews with executives responsible for the hiring of middle management and professional staff at their organisations.

Of the 102 executives interviewed for the study in Norway, 47.1 per cent indicated plans to make additions to their staff during the second half of 2005. Another 48 per cent plan to maintain their current staff levels and only 4.9 per cent plan to decrease their staff size.

“The upturn in the economy that began during the second quarter of 2003, resulting in increased productivity and lower interest rates, has stimulated job growth in Norway,” said Trond Larsen, Managing Partner of the MRI office in Porsgrunn. “We expect to see increased labour market activity in the managerial and professional sector for the remainder of the year.”

New Hire Plans Span Range of Company Sizes

The highest percentage of projected increases came in companies that employ less than 100 employees or more than 1,000:

Do Stock Market Fluctuations Influence Hiring?

Survey participants were also asked to what extent stock market fluctuations influence their ability to attract and hire new employees. Only 3.9 per cent reported a substantial effect and the majority indicated that fluctuations had little or no effect:

“Although the stability of the stock market is an important component of a healthy economy, our findings support the idea that companies are not relying on its strength or weakness to make critical business decisions, such as hiring and staffing,” commented Larsen. “As the market continues to fluctuate, companies must rely upon other economic indicators to evaluate the direction of their business and make any necessary staffing decisions to increase market share and drive revenues.”

How Would You Assess the Suppley of Qualified Candidates in Today's Marketplace?

Survey participants were also asked to assess the supply of qualified candidates available in today’s market. Some 52 per cent of those surveyed felt that there is a shortage of candidates with the right skills and qualifications:

International Findings

The MRI International Survey also found that there are plans to increase hiring cross international borders. Following are the findings in other countries surveyed by MRI:

What Are the Key Factors Contributing to Employee Job Satisfaction?

All participants in the MRI International Survey were asked to rank the following factors in order of importance to job satisfaction amongst employees in their industry. Remuneration came on top, closely followed by work/life balance, while training came bottom of the list.

About the MRI International Survey

This is the 56th in an ongoing series of polls conducted by Management Recruiters International. This latest study surveyed 102 companies in Norway during May 2005.

About MRI Worldwide

Management Recruiters International, Inc. (www.mrinetwork.com/intl) is the world's largest search and recruitment organisation with over 1,000 offices worldwide and system wide billings of nearly $400 million. MRI is a subsidiary of staffing and outsourcing leader CDI Corp. (NYSE: CDI; www.cdicorp.com), a global provider of engineering and information technology project delivery and specialised staffing for Fortune 1000 companies.