Bulgarian Employers Optimistic for the Future

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Bulgarian Employers Optimistic for the Future

A regular global survey of hiring and firing trends across the world has found the employment market for professionals and managers in Bulgaria is stable, with conditions expected to improve over the next quarter.

The ‘Global Snapshot' project from the international recruitment firm, Antal, asked 9117 companies in major markets whether they were currently hiring at professional and managerial level.

44% of organizations in Bulgaria said they were recruiting, which represents a slight dip since the summer; however this number is expected to rise again with over half of companies planning to hire over the next three months. The percentage of businesses letting people go has remained stable at 19% but looks set to fall over the coming quarter to a figure well below the regional average of 30%.

Hiring levels in the rest of Eastern Europe and Eurasia are mixed, with the highest number of businesses recruiting in Israel (79%), Slovakia (76%) and Russia (75%). Hungary's well-documented economic problems meant that it continued to have the lowest level of hiring in the region with only 27% of businesses questioned actively seeking new managers or professionals. Globally, the highest level of hiring activity was recorded in Thailand, where 86% of organizations are taking on new staff.

"No-one is likely to be brave, or foolish, enough to say that our economic troubles are over, particularly if they are based in Greece, Ireland, Hungary or any of the other nations bearing the brunt of painful budgetary cuts at the moment," says Antal's CEO, Tony Goodwin."

But it does seem as if we have avoided the financial Armageddon that seemed all too real a prospect from late 2008 to the early months of 2009. For chief executives and HR directors around the globe, the key business challenge is already shifting away from headcount reduction or containment to how to source the talent they will need in improving markets. The war for talent, which had dwindled to little more than an insignificant skirmish, has already broken out once again."

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