In its latest international survey of over 10,500 organisations in nearly 40 key countries, leading global search and selection specialist, Antal International, has found that employment markets at managerial and professional level around the world are stabilising.
The ‘Global Snapshot’ project from Antal International asked more than 10,500 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 a reduction of 3% from the June 2013 edition of the Snapshot, but represents an increase of 5% year-on-year. This is expected to remain fairly consistent in the next quarter.
The number of companies letting go of staff stands at 16%, a reduction of 3% since June 2013 and in line with figures from January 2013 where the same score was recorded.
In Western Europe the highest current hiring levels were found in the UK where 56% of organisations report 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 where 28% of businesses are hiring and Belgium (33%), although this is expected to improve in the next quarter for both countries. The highest predicted firing levels can be found in the Nordic Region as 73% say they are shrinking their workforce. In second place is France where 42% of companies are looking to let staff go in the next quarter as the economy continues to stagnate.
Central and Eastern Europe and Eurasia
The highest recruitment levels in this region were found in the Czech Republic (65%) and Poland (64%), as predicted in the last edition of the Snapshot. These nations also recorded the highest levels of predicted hiring with the former scoring 57% and the latter 63% indicating lively employment markets. The highest firing figures in the CEE and Eurasia territory were recorded in Turkey (64%) although this is expected to fall by almost 20% in the next three months.
The employment markets in the Middle East have noted a high level of activity over recent months as the U.A.E recorded a current hiring level of 57%, above the global average. Closely following is Saudi Arabia, where 51% of organisations are currently taking on staff. This Middle Eastern nation is anticipating continued high levels of activity in the next quarter with 66% of organisations expecting to take on staff, 7% more than their Qatari neighbours and 11% above the worldwide trend. The percentage of businesses who say they will fire staff in the next quarter is very low in the Middle East on the whole. Just 6% of companies from the U.A.E are planning on letting staff go in the next quarter; this figure stands at 7% for Qatar.
Some of the most encouraging figures have come from Africa where a number of countries have recorded hiring levels above the global average for the third edition of the Snapshot in a row. Currently, 55% of Egyptian organisations and 54% of Nigerian businesses are taking on staff, while this rises to 70% for other key African markets. Businesses on the continent expect to continue taking on staff as results show 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 staff on in the next quarter, the highest score recorded anywhere in the world. This hive of activity is expected to continue as Egypt also claimed the highest firing and predicted firing levels, both standing at 26%.
Businesses in the APAC region continue to record a high level of both hiring and firing, in particular China, which reported the highest levels of all four areas questioned in the Snapshot. Currently 67% of companies are taking staff on while 20% are letting staff go. In the next quarter this is expected to remain level while predicted hiring drops to 62%. This is in comparison to Japan where the percentage of companies currently taking on staff stands at 27% and is expected to fall further in the coming months. This is particularly disappointing for Japanese employment markets as 43% of organisations said they would be hiring in the next quarter when questioned in the June 2013 Snapshot.
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 and predictions made in January 2013.
The Latin American employment markets continued to show positive results as 55% of organisations in the most active country, Chile, are currently hiring at a managerial and professional level, a figure that is expected to remain flat in the next quarter, indicating continued growth. Firing levels in Chile have remained high for the second Snapshot in a row 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.
“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,” says Antal Chairman, Tony Goodwin. “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.”