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Employment markets at managerial and professional level around the world are stabilising, according to a survey of more than 10,500 organisations in 40 countries by global search and selection firm, Antal International.
The ‘Global Snapshot’ project from Antal International asked businesses in major markets around the world whether they were currently hiring or firing at managerial and professional level, and if they were planning on doing so in the next three months.
The results from the data show that average hiring levels across the globe have dropped slightly, as 51% of companies are currently planning to take on staff. This is down from 54% in June 2013, but a rise from 46% a year ago. The number of companies letting go of staff stands at 16%, down from 19% in June 2013 and in line with figures from January 2013.
In Western Europe, the highest current hiring levels were found in the UK with 56% of organisations reporting that they are taking on staff. This was followed closely by France (53%), which also has the highest predicted hiring figures for the next quarter (53%). The lowest hiring levels were recorded in Austria (28%) and Belgium (33%), although both countries expect improvement next quarter. The highest predicted firing levels can be found in the Nordic Region, with 73% of businesses reducing their workforce, followed by France (42%).
The highest recruitment levels in Central and Eastern Europe were found in the Czech Republic (65%) and Poland (64%). Turkey was the country with the highest firing intention (64%) although this is expected to fall to the mid-40s next quarter.
The employment markets in the Middle East noted a high level of activity in recent months with the UAE recording a hiring level of 57%. Closely following is Saudi Arabia, with 51% of organisations currently taking on staff. The percentage of businesses intending to reduce staff in the next quarter is very low in the region as a whole. Just 6% of companies from the UAE plan to make staff redundant next quarter; with 7% in Qatar.
Some of the most encouraging figures come from Africa where a number of countries have reported above-average hiring intentions for the third consecutive Snapshot. More than half of businesses in Egypt (55%) and Nigeria (54%) are hiring staff. In other key African markets this figure rises to 70%. Businesses expect to continue taking on staff as results show the above-average hiring will carry on into the next quarter. Egypt, in particular, is expected to grow through a period of intense activity, as 74% of companies in the troubled nation expect to take on staff next quarter, the highest score recorded anywhere in the world.
Businesses in Asia-Pacific continue to record high levels of both hiring and firing, particularly in China. Currently 67% of companies are taking staff on while 20% are letting staff go. This compares with just 27% of companies in Japan taking on staff, with further falls expected in the coming months.
North America and Canada in particular, recorded strong results in this edition of the Snapshot. Currently 60% of organisations in Canada are taking on staff, the fourth highest score found anywhere in the world. In the USA this stands at 51%, in line with the global average
The Latin American employment markets continued to show positive results, with the greatest hiring intentions in Chile (55%). Firing levels in Chile remained high for the second consecutive Snapshot, although this is expected to drop by more than half in the next three months. Brazil and other key markets in Latin America produced positive results as employment figures remain healthy in the lead up to the World Cup.
Tony Goodwin, Chairman of Antal commented: “With the global economy showing signs of stuttering growth, it’s encouraging to see so many organisations across the globe reporting increased hiring activity on the last edition of the Snapshot.”
“At the very least these results indicate increased stability within the market. While some areas around the world face continued difficulty, on the whole the signs are promising. A number of key economies have shown really impressive growth including China, Poland, and the UK to name a few. It remains difficult to paint a complete picture but signs from some markets show growth and an indication that for many, the time for doing more-for-less is over. It will be interesting to see how this develops in the next quarter, but for now the signs are promising,” he added.
Antal CEO, Tremayne Elson concluded: “The results highlight the recovery that the global economy is continuing to make. Some of the most impressive results have come from unexpected parts of the globe and that’s the beauty of the Snapshot, we get the chance to truly analyse the worldwide recruitment markets and spot trends before anybody else.”