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Eastern Europe — Russian Managers optimistic about the future

22 April 2010

According to a survey conducted by Antal Russia Recruitment Company (part of the FiveTen Group), the majority (65%) of middle and senior managers are optimistic about the future of the economy over the next 12 months. 3% of respondents are very optimistic and 13% remain pessimistic. Over 3,000 middle and senior managers (the majority of which represent large international companies) took part in the Antal Russia survey in April 2010.

Natalia Kurkchi, Partner at Antal Russia, said "I suppose that such an approach can be explained by the mentality of people in Russia who are usually more optimistic than other Europeans. But actually there are reasons to be optimistic. Of course we should not expect rapid market growth over the next 12 months, but we will most probably see stable and steady market growth this year."

The majority of surveyed managers (63%) rated their job as secure and do not fear redundancy. 14% are particularly confident about their future, but 20% of respondents feel insecure and 3% feel very insecure. 70% of managers are ready to recommend their employer to their friends as reliable and trustworthy.

"Some time ago we used to persuade candidates to accept interesting job offers while they were afraid to take risks and were reluctant to consider a career move. Now many people are ready to consider job opportunities and high profile professionals and managers can expect several job offers" says Natalia Kurkchi.

"At the same time salary expectations are growing again and some job seekers estimate their cost on the basis of their income before the downturn. But I would recommend to that they adjust instead to current market salary levels."

37% of the survey respondents noted that the headcount of their companies has increased in the past year. 29% of respondents notice no change in headcount and another 29% noticed the headcount had decreased.

At the same time 65% of managers who took part in the survey have admitted that the headcount of their companies has decreased because of reductions, 17% replied that employees left companies voluntary and 7% explained other reasons such as business restructuring, M&A activity, office, branch or department closure, maternity leave etc.

Kurchi commented "I am sure that most companies increased their headcount in the last 3-6 months. In the middle of 2009, companies usually tried not to increase their headcount. That time we worked on projects to replace their employees with more efficient or less expensive ones and less often on new vacancies. Now the number of new vacancies has grown noticeably. We see the recovery and growth of the market and hope that this trend will continue."



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