The August 2011 CMO Survey asked top marketers to report on hiring plans by responding to the forward-looking question, “Compared to the number of marketing hires last year, by what percentage will your firm’s marketing hires change in the next year?” The response was encouraging. Marketers report their companies will hire 7.2% more marketers in the next 12 months than they did the year before. These numbers are up from 6.2% in February 2011 and 4.0% in August 2010, but down from a high of 12.9% in February 2010.
Percentage Change in Marketing Hires Planned Over Next 12 months
Prospects are highest among B2B-Product Companies (+11.6%) and B2C-Service Companies (+8.3%) and then drop below the average for B2B-Service Companies (+5.6%) to the weakest sector—B2C-Product Companies (+0.2%).
One reason for this is that B2C-Product Companies reported the highest hiring percentages to The CMO Survey in February (+6.7%). Given fewer retirements, it is likely the ranks are full in these companies.
How Marketing Hires Vary by Business Sector
Within these business sectors, the following industries are reporting the highest percentage change in marketing hires: consulting (+17.3%), manufacturing (+14.9%), technology (+12.5%), banking/finance/insurance (+11.9%) and healthcare/pharmaceutical (+8.3%).
More marketing hires are also expected among the economy’s smallest companies (less than $25 million (+14.8%) while the lowest hiring rates were reported among the largest companies: $1-$9.9 billion (+1.4%) and more than $10 billion (+0.3%). All companies between these ends ($26 million-$999 million) expect to hire at about +4% in the next year.
It’s also interesting that companies with no internet sales intend to hire the most marketers (+10.4%), presumably to get into the business of using the internet! This is corroborated by other CMO Survey results showing an increase in internet spending and social media spending. Companies with more than 10% of sales from the Internet will increase hiring at half that rate (4.9%).