A tight job market means tough going for people seeking employment, and those who are looking are becoming more flexible. That's according to a survey of 6,917 people who had a career transition in 2002 and worked with DBM, a human resources consulting firm. The survey was global, and respondents had a median age of 43 and tenure of 14 years in the prior position. The study found that 75% of participants had to switch industries to find employment in 2002, up 3% from the previous year's study. Additionally, 65% took a pay cut. Other findings:
- 54% said networking was the No. 1 way they sought employment.
- 63% found a full-time position.
- 35% secured a higher salary.
- 83% of job transitions were due to corporate downsizing.
- While 61% in the U.S. credited networking with landing a job, only 43% of UK respondents used this method.
