Council of Public Relations Firms Survey Shows Continued Industry Growth so far in 2006.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Most public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firms started 2006 the way they finished 2005 - strong. Firms surveyed by the Council of Public Relations Firms (Council) averaged a 10.8% increase in first quarter revenues over Q1 2005. Additionally, nearly 90% of those firms expect revenues to increase again in 2006. The sectors generating the most revenue for firms in 2005 were, in order, consumer products and services, technology and healthcare. More than half of firm revenues were generated in marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales (54%), followed by corporate communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. (24%) and public affairs (12%). "Public relations firms continue to show robust growth, at both the top and bottom lines," said Kathy Cripps, President of the Council of Public Relations Firms. "As client challenges become more complex, and media channels continue to morph in different ways, more client organizations are looking to their public relations firms to help solve their business problems." The Business Practices Benchmarking Study, conducted in March and April, was completed by 82 public relations firms. The results showed 2005 to be an improvement over 2004 in several areas. Two key indicators of agency productivity, the average revenue per professional and the average operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. , both showed an increase in 2005. The average revenue per professional increased more than 5%, and the average operating profit margin Operating profit margin The ratio of operating profit to net sales. per participating firm grew by more than 20%. The Council also recently conducted a member survey that addressed various issues related to talent in the industry. More than 50 firms - Principals and HR managers - participated. Findings included: --Most competitive markets for hiring: 1. San Francisco/Silicon Valley; 2. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; 3. Washington, D.C. --Recruiting is the top priority related to talent, over retention and training; mid-level hires (4-8 years experience) are the most sought-after --Firms are averaging more than 10 job openings --Writing is by far the most important skill firms are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. among new hires These findings are consistent with the most recent Bureau of Labor Statistics Bureau of Labor Statistics (BLS) A research agency of the U.S. Department of Labor; it compiles statistics on hours of work, average hourly earnings, employment and unemployment, consumer prices and many other variables. from the U.S. Department of Labor, which stated: "Keen competition likely will continue for entry-level public relations jobs...employment of public relations specialists is expected to grow faster than average for all occupations through 2014." "A great way to learn more about public relations firm career opportunities is through the Council's website and its searchable database, Find-A-Firm," according to Cripps. The Council of PR Firms is comprised of America's leading public relations firms. Its 100 members represent the premier global, mid-size, regional and specialty agencies across every discipline and practice area. The Council is dedicated to strengthening the recognition and role of public relations firms in corporate strategy, business performance and social education, serving as an authoritative source of information and expert comment and helping set standards for the public relations industry. For more information about the Council of Public Relations Firms, call 1-877-PRFIRMS or visit our website at www.prfirms.org. |
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