Power Lunch

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Power Lunch

What to Expect in the Job Market in '07

Looking for a job? A new survey from CareerBuilder.com reveals the wide range of incentives employers are planning to use, as they fight for top talent in the new year. Today on "Power Lunch," CNBC’s Gill Griffeth highlighted the key results.

Jennifer Sullivan, senior career advisor with CareerBuilder.com, says employees will see solid gains in 2007. Forty percent of employers will be adding headcount.

She added, “You can expect bigger paychecks – 81% are going to offer higher compensation.”

Also employers will be expanding their demographic base as more African-American workers, as well as Hispanic workers and women, are needed to create products that appeal to those markets.

In addition, flexible schedules will become more widely available as employers use work-life balance to attract and retain high performers.

Here's more from the survey:

Seven Major Hiring Trends For 2007

Bigger Paychecks: Eighty-one percent of employers report their companies will increase salaries for existing employees.

Diversity Recruitment - Hispanics Workers in Demand: Understanding the positive influence workforce diversity has on overall business performance, employers remain committed to expanding the demographics of their staffs.

More Flexible Work Arrangements: Work/life balance is a major buzzword among U.S. employers as employees struggle to balance heavy workloads and long hours with personal commitments.

Rehiring Retirees: Employers continue to express concern over the loss of intellectual capital due to a large number of Baby Boomers approaching retirement.

More Promotions: With the perceived lack of upper mobility within an organization being a major driver for employee turnover, employers are carving out clearer career paths.

Hiring Overseas: Companies continue to drive growth by entering or strengthening their presence in global markets.

Better Training: In light of the shortage of skilled workers within their own industries, employers are looking for transferable skills from other industries.