Penna outplacement and employment statistics Jan-March 2004

outlook is positive as city sees upturn


Penna, the Cityís leading provider of Human Capital Management services, today released figures indicative of the outplacement and employment levels that the company saw in the UK during the first quarter of 2004 (Q1 2004). The figures pertain to Pennaís City arm, which specialises in the financial services sector and creates bespoke, results-driven solutions that help clients manage transitions at every stage of the employee life cycle.

The Q1 2004 figures reflect an upturn in City employment statistics, with a positive outlook for successful placement and remuneration packages.

Over Q1 2004, Penna has seen an increase in the success of its outplacement programmes, with 83% of participants on their three-month programme securing new employment within that period ñ a 3% increase compared to the same period in 2003.

The figures also indicate that while networking continues to be a major pathway to a new career, the proportion of individuals placed by recruiters has been on the rise when compared to the figure for Q1 2003. In addition, the City upturn has reflected positively on salary changes. 49% of individuals reported receiving an increased salary in their new employment.

Grahame Russell, Director at Pennaís City office, commented on the figures saying: ì Last year, many individuals felt ëforced outí of the city ñ there simply was not much on offer in the Square Mile. The upturn, which is now being felt in terms of recruitment, is convincing a larger proportion of people to return, and more of them are successfully achieving placement. I expect this trend to continue as the market continues to improve.î