antal global snapshot edition 6

ANTAL GLOBALSNAPSHOTA survey of hiring and firing trends in keyemployment markets around the world.

Edition 6 - June 2010snapshot.antal.com

Antal Global Snapshot | Edition 6 - June 2010

THE ANTAL INTERNATIONAL ‘GLOBAL SNAPSHOT’

Introduction The Antal International ‘Global Snapshot’ is a regular survey of hiring (and firing) trends in some of the world’s most important employment markets and in those likely to join this group over the coming decade. This sixth report in the series is based upon material sourced from over 9600 businesses in commerce, industry and the financial services sector in 55 key countries on five continents. We hope that you find it both interesting and useful. Chairman and CEO Antal International

About Antal International Founded in 1993, Antal International is a management and professional recruitment specialist with a particular focus on the sourcing and retention of candidates in the ‘Generation Y’ bracket. One of the first recruitment organisations to devote substantial resources to emerging markets, the company now has offices in 30 countries and works with many of the world’s most successful and ambitious multi-nationals.

Methodology This edition of the Antal International ‘Global Snapshot’ is based upon survey forms and telephone interviews completed by line and HR managers in 9672 companies, professional partnerships and financial institutions across 55 countries in May 2010. Each respondent was asked whether they were currently hiring or letting go professional/managerial staff and whether they intended to do so over the coming quarter. All respondents were guaranteed anonymity to encourage open and honest answers.

Antal Global Snapshot | Edition 6 June 2010

THE ANTAL INTERNATIONAL ‘GLOBAL SNAPSHOT’ Local Picture - Detailed information on the 55 key markets surveyed.

Western Europe Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Austria Belgium

France

47% 43%

28% 29%

After peaking at 58% in January the level of managerial and professional hiring has now dropped back slightly and future hiring intentions are also down markedly from 73%. However there is also encouraging news in the form of a drop in the percentage of employers intending to shed staff over the next few months from 35% to just 28%.

66% 62%

28% 30%

53% 56%

32% 29%

The percentage of organisations recruiting professional and managerial staff in France has dropped slightly since the beginning of the year from 55% to 53% now. Future hiring intentions are also down from 58% to 56%. More encouragingly the proportion of organisations shedding staff has reduced. The percentage losing people now has come down from 37% to just 32% and appears likely to fall again over the coming quarter.

41% 44%

24% 19%

Germany

Although hiring levels have not returned to the extremely high 70% reported in the autumn of 2009 they are markedly better than those reported in January this year when only 45% of businesses were recruiting. Future hiring intentions are also strong, up from 50% in January to 62% now.

After rising to 51% in January, the percentage of organisations hiring staff has fallen back to the level recorded in the autumn of 2009. Future recruitment intentions are also less positive with the percentage planning to hire in the coming quarter down from 54% to 44% now. However the number of organisations shedding staff has also fallen from 28% in January and is set to drop again over the coming quarter suggesting a stable rather than weakening employment market.



Western Europe Continued...stern Western Europe Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Italy Luxembourg

Malta

47% 47%

17% 18%

Hiring levels have risen slightly from the 42% recorded in January and appear likely to remain steady over the coming quarter. At the same time the percentage of organisations shedding staff at professional and managerial level has fallen from 24% at the beginning of the year to just 17% now.

29%

46%

29% 33%

6%

51%

3%

17%

When we last reported on Malta in January its job market was in a downturn with the percentage of organisations recruiting down from 41% in September 2009 to 31%. Now the market seems to have almost ground to a halt, although businesses seem optimistic that it will restart in the coming quarter.

63% 58%

25% 24%

Netherlands

In our last report in January Luxembourg was registering the joint highest level of hiring in the whole of Western Europe. Now, however, recruitment has fallen substantially from 58% to only 29% although hiring intentions for the next three months are markedly better at 46%.

After ‘flat-lining’ throughout 2009 the amount of recruitment at professional and managerial level continues to rise, up from 52% in January to 63% now. Confidence is also reflected in the fact that the percentage of businesses shedding staff is down from 30% at the beginning of the year to 25%.



Western Europe Continued...stern Europe Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Portugal Spain

Switzerland

36%45%

25% 27%

Portugal’s hiring rate is predicted to rise to the levels commonly seen across Europe in the next quarter. Companies expecting to let people go are predicted to rise slightly, but this is only to levels that are comparable with the rest of Europe.

31% 30% 26% 23%

60% 63%

32% 30%

Although hiring levels in Switzerland are slightly down from 64% in January they still remain very healthy and are due to rise over the next three months. At the same time the percentage of businesses shedding staff is down from 38% at the beginning of the year and is due to fall again in the coming quarter.

60% 61%

22% 19%

United Kingdom

Despite Spain’s continuing economic problems the percentage of organisations hiring at professional and managerial level has risen marginally from 30% in January to 31% now. The proportion of companies shedding staff has also gone down slightly from 29% at the beginning of the year to 26% now and appears likely to fall again in the next quarter.

Overall current hiring is up marginally from 59% to 60% and confidence about the future is much stronger than at the beginning of the year when only 52% of businesses envisaged recruiting in the coming quarter as opposed to 61% now. Organisations are also shedding less staff – only 22% now in comparison to 38% in January. The financial services and telecoms sectors seem to be leading the way in this improving picture. The percentage of telecoms companies hiring is up from 71% to 75% and the percentage of financial services organisations from 50% to 65%.


WESTERN EUROPE

Detailed examination of key markets

Western Europe Key Sectors Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

German Sectors

18%

13%

46%

49%

20%

15%

43%

41%

20%

7%

52%

51%

4%

16%

39%

50%

12%

13%

47%

52%

9%

18%

45%

36%

14%

16%

36%

33%

22%

3%

11%

11%

10%

33%

22%

11%

BANKING ENERGY MANUFACTURING

BANKING MANUFACTURING PROFESSIONAL SERVICES

BANKING MANUFACTURING PROFESSIONAL SERVICES

Italian Sectors

Spanish Sectors

UK Sectors

29%

31%

76%

75%

3%

4%

50%

33%

12%

16%

65%

53%

22%

24%

62%

56%

20%

19%

66%

65%

TELECOMS MANUFACTURING IT

ENERGY BANKING AND FINANCE



Eastern Europe & Eurasia Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Bulgaria Croatia

Czech Republic

47% 44%

19%28%

Hiring levels in Bulgaria are showing a gently upward trend from 41% to 47%, but the forecast is for this to decline a little. The percentage of companies letting managers and professionals go has dropped significantly from 28% last quarter, but is expected to jump back up again to a similar level. However, the actual figure of 19% of companies showing job losses compared to the predicted level of 23% in January may indicate some optimism.

32% 34%

20% 20%

61% 56%

23% 27%

Hiring levels are up a modest amount since the last Snapshot, from 57% to 61%, although recruitment plans for the coming quarter show a reduction from 64%. The number of companies expecting to shed jobs is displaying a significant drop, although the predicted headcount shrinkage in 32% of companies predicted by the last Snapshot has not happened. Despite the slight decline in predicted hiring figures, this Snapshot suggests that the Czech Republic may be at the forefront of a wider recovery in the region.

19%30%

20% 19%

Hungary

The Croatian jobs market is seeing a slight dip from last quarter’s hiring levels of 39% although confidence in recruitment prospects over the coming quarter is slightly raised. The percentage of staff being let go has dropped significantly from the 34% reported last quarter, and this figure is expected to remain stable. Predicted levels of job loss in the last Snapshot seem to have been accurate, indicating that there is a return to stability and that the downward trend is bottoming out.

Hungary’s economic problems continue to be reflected by a depressed hiring situation that’s down from 28% last quarter, but optimism for an upturn appears to be strong. However, it should be noted that the predicted hiring levels from January’s Snapshot were on the high side and do not seem to have been borne out by this Snapshot’s reported figures. The good news is that job losses are down from 25%, with fewer reported losses than predicted and this indicator continues to show a marked downward trend.



Eastern Europe & Eurasia Continued... Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Poland Romania

Russia

47% 47%

13% 12%

The job market for managers and professionals in Poland has remained fairly steady since the start of 2010, with hiring levels down only a little from 48%. Optimistically, the levels of jobs being shed remains low, down slightly from 15% shown in the last Snapshot at the beginning of the year, with a further drop forecast, so Poland’s position as having one of the lowest levels of job losses and expected job losses in Eastern Europe remains stable.

50% 52%

20% 20%

66% 61%

33% 31%

The percentage of organisations recruiting managers and professionals across Russia has seen a mild decline from the impressive figures noted at the beginning of the year to a still respectable 66%. The number of companies downsizing in this sector is also declining, down from 40% in the previous Snapshot to 33%. A predicted figure of 31% expecting to lose staff in the coming quarter suggests a continuing positive trend. Taken together with hiring figures that are amongst the highest for the region, this points towards a sustained recovery.

24%

48%

16% 16%

Serbia

Romania’s professional and managerial jobs market has seen a slight decline, with hiring levels down from 55% in the last Snapshot and the previously forecast figure of 53% proving overly optimistic. However, a forecast growth figure of 52% for the next quarter suggests that the country may be returning to stability in terms of hiring levels. The picture for job losses is also cautiously optimistic. Although January’s Snapshot predicted that 27% of businesses would shed staff this materialized at only 20%.

The outlook for managerial and professional jobs in Serbia appears very positive, with a jump to 48% of companies hiring predicted. Downsizing levels of 16% are below average for Eastern Europe and not expected to see an increase in the next quarter, suggesting that Serbia is joining the wider economic recovery.



Eastern Europe & Eurasia Continued... Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Slovakia Slovenia

Turkey

54%63%

20%26%

Strong current hiring levels, combined with a predicted increase in managerial and professional jobs suggest that Slovakia is joining the region’s overall recovery. Levels of actual and predicted job losses are similar to the Snapshot’s findings across the whole of Eastern Europe.

44%52%

11%19%

29%

48%

10% 13%

This Snapshot’s hiring level of 29% is down from the 36% of companies taking on managers and professionals at the start of 2010, but predictions show this to be a minor dip, with recruitment expected to soar to 48%. Additionally, job loss rates continue to remain at one of the lowest levels in the European/Eurasian region, with previous estimates being reasonably accurate. Predictions for job losses in the next quarter are slightly more negative; with a small rise expected. Neighbouring Greece’s economic problems may be affecting levels of confidence in the region, but the majority of companies appear to be consolidating and retaining, rather than planning to fire, staff.

68% 70%

30% 26%

Ukraine

Slovenia’s hiring levels are at the same level as the Eastern European average, with companies optimistic for a continued increase. Job loss levels and predictions are significantly lower than are being seen in the region.

Hiring and firing levels in the Ukraine are very similar to those currently being reported in Russia, comparing favourably with other countries in the region. A predicted rise in managerial recruiting and an expected drop in levels of staff reductions are also good news for the country.


EASTERN EUROPE


Eastern Europe & Eurasia Key Sectors

Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Polish Sectors

18%

25%

68%

68%

11%

12%

35%

47%

15%

2%

75%

71%

4%

7%

43%

57%

13%

16%

63%

66%

5%

2%

48%

38%

25%

17%

67%

83%

39%

52%

49%

51%

17%

33%

50%

67%

AUTOMOTIVE BANKING ENGINEERING

IT - SOFTWARE PHARMACEUTICALS TELECOMS

CHEMICALS ENERGY ENGINEERING

Russian Sectors

Turkish Sectors

17%

17%

67%

50%

8%

8%

49%

33%

50%

33%

50%

58%

CHEMICALS ELECTRONICS IT



Middle East & Gulf Region Europe Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Middle East & Gulf Region (Bahrain, Kuwait, Israel, Oman, Qatar, Saudi Arabia, UAE, Yemen) Saudi Arabia

UAE

48%

63%

21% 22%

The Gulf region’s overall levels of hiring and firing are roughly in line with the global outlook and hiring expectations for the coming quarter are strong. High levels of confidence and hiring levels in Saudi Arabia and the UAE, and very low actual job losses and predicted loses in Kuwait, are tempered by a poorer outlook in Yemen, with losses and predicted losses both standing at 50%. The particular situation in Yemen negatively affects the overall average figures for the region, so this should be taken into consideration when comparing the hiring and firing figures from the Gulf with other areas.

74% 77%

16% 16%

62%

73%

15% 16%

The UAE’s recent economic problems do not seem to have had a continuing negative impact on hiring levels and it has retaken its place as one of the top job markets in the region, second only to Saudi Arabia. Hiring levels in the UAE are up since the beginning of the year when only 51% of businesses were recruiting. Job losses are also occurring at a lower level than in January’s Snapshot when the percentage of businesses shedding staff stood at 24%. With expectations for job losses remaining very low and the numbers of companies expecting to hire going up, there appears to be a significant return in confidence in the employment sector.

47%

67%

20% 20%

Israel

Saudi Arabia continues to outperform all other countries in the Gulf region, both in terms of current and projected hiring. The percentage of organisations shedding staff at professional and managerial level is also very low and appears likely to continue at a low rate over the coming quarter.

The percentage of companies predicting that they will be taking on new managerial or professional staff in the next quarter shows a leap up to 67% from the current level of 47%, suggesting that confidence in economic recovery is growing.



Middle East & Gulf Region Continued... Europe Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Bahrain Kuwait

Oman

52% 57%

24% 29%

Bahrain’s hiring levels are at a respectable 52%, putting it slightly above average for the Gulf region, with the good news that this is expected to increase. The percentage of companies who responded to the survey expecting to shed staff is slightly above the regional average at 24%.

38%

56%

6% 6%

51% 53%

20% 20%

Oman’s predicted hiring levels for the next quarter are expected to remain at a fairly stable level, in line with the current Gulf average. Numbers of companies letting staff go are also around the average level for the region. This suggests that companies in Oman are consolidating their position and that growth will be gradual rather than fast.

60%73%

13% 17%

Qatar

Hiring levels in Kuwait since the beginning of the year have not been as strong as in other Gulf nations, but are expected to see an upturn to 56% in the coming quarter. The numbers of companies letting staff go are low at six percent and this is not expected to rise, suggesting a strong return to economic confidence.

Qatar is seeing companies taking on staff at professional and managerial level at a rate that is well above the average for the region, with growth expected to accelerate in the coming quarter. Numbers of companies downsizing are well below average.



Africa Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Angola Botswana

Egypt

50%

33%

2%

17%

Current hiring levels in Angola compare favourably with other countries in the region, although lower predictions for the next quarter suggest that companies are favouring a cautious outlook. Current headcount cuts are amongst the lowest in the world.

25%

50%

1% 3%

75% 71%

8% 13%

After a very high (55%) level of companies shedding staff in January’s Snapshot, predictions for a much lower future level appear to have been accurate, with only 8% reporting firings now. Hiring is also occurring at a very high rate, up from 65% at the beginning of the year. Predicted headcount shrinkage amongst only 13% of companies compares well with the rest of the region and shows that returning confidence appears likely to be sustained.

33% 33%

2%

17%

Ghana

This Snapshot shows an excellent outlook for Botswana. Hiring for the next quarter is predicted to hit an impressive 50% and firings are at miniscule levels.

After a period showing very low hiring rates, the recovery in Ghana’s professional and managerial jobs sector indicated by the January Snapshot is continuing and is predicted to remain stable. Actual reported job losses of only 2% are amongst the lowest level in the whole Global Snapshot.



Africa Continued... Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Kenya

South Africa

43%

71%

29%

43%

Kenya is an exception to the generally low levels of job losses seen across Africa; however predicted hiring levels of 71% next quarter are an extremely good sign.

52%

71%

14%24%

39% 35%

15% 11%

South Africa has experienced a dip in hiring rates from the previous level of 49%, with predictions for the next quarter remaining cautious at 35%, suggesting that a previous upward trend has not been sustained. More comfortingly, however, levels of staff reduction remain reasonably low and are expected to decline further, perhaps due to the World Cup’s effect on the country’s economy. Some business sectors such as banking and telecoms are clearly leading the way out of the downturn, with significantly high hiring and low firing figures.

The picture for Nigeria, since the beginning of the year, is that businesses did not see the optimistic recovery hoped for, but headcount reductions were not at the level feared. After a significant rebound in hiring levels, which rose to 79% in January, the job market for managers and professionals dropped to a still healthy 52% this time around. However, the number of companies expecting to let staff go had been predicted to hit 28%, but was actually only half the expected figure at just 14%.

Nigeria


Africa


South African Key Sectors Europe Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

South African Sectors

6%

7%

36%

51%

2%

3%

58%

72%

4%

7%

15%

27%

33%

17%

33%

33%

BANKING CHEMICALS

ENERGY ENGINEERING

8%

24%

51%

42%

14%

21%

29%

18%

2%

3%

25%

75%

34%

34%

67%

32%

FMCG SUPPLY CHAIN

TELECOMS TRANSPORT



Asia & Indian Subcontinent Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

China Hong Kong

India

72% 73%

17% 19%

Although still down on the high of 74% recorded in September, hiring levels in China remain buoyant at 72% - almost exactly the same as in January this year. At the same time the percentage of businesses shedding staff is down from 25% at the beginning of 2010 to just 17% now. All key sectors remain strong, although professional services has made the only notable improvement with recruitment in this sector up from 78% to 83%.

58%65%

23%35%

73% 77%

11% 16%

India continues to make a steady recovery from its very depressing start to 2009 when less than 30% of businesses in the country were recruiting at professional or managerial level. Current hiring levels are up from 71% at the beginning of the year to 73% now and the percentage of businesses shedding staff is down from 16% to just 11%. The lead in the ongoing recovery seems to have been taken by the manufacturing sector where a staggering 96% of organisations are planning to hire over the next three months.

54%63%

25%33%

Japan

Hong Kong’s hiring and firing figures and predictions are very similar to those currently reported for Japan, showing that the picture across the East Asian economies is fairly consistent, although expected job loss rates compare favourably with the Philippines. 58% of companies hiring, rising to a predicted level of 65% indicates that growth is expected.

Expected job losses for the managerial and professional sectors in Japan are roughly in line with global levels and a predicted rise in companies taking on staff, up to 63% from 54% shows that the outlook for jobs in Japan is buoyant.



Asia & Indian Subcontinent Continued... Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Malaysia Pakistan

Philippines

75%

90%

55%45%

Hiring levels in Malaysia are at a massive 75%, with an even bigger jump predicted, putting it in the top two of the global list for managerial and professional recruitment. The current level of job cuts is also expected to drop in the coming quarter.

62% 58%

29% 31%

56%

81%

50%56%

The level of hiring at managerial and professional level is up substantially from 46% in January to 56% now. However the increase in the percentage of companies shedding staff from 42% at the beginning of the year to 50% now does suggest there is still an underlying volatility in the jobs market.

53%

68%

47%53%

Singapore

Perhaps due to continuing uncertainty in the political climate hiring levels are slightly down since January from 70% to 62%. However the percentage of organisations shedding staff is also down markedly from 53% to just 29% suggesting some return in confidence to the jobs market for managers and professionals.

Singapore’s current and predicted managerial and professional hiring levels are slightly above the global average and in line with those of other countries in the region. Expected job reductions are above average but a predicted jump in hiring to 68% is very positive news.


Asia & Indian Subcontinent Detailed examination of key markets

Asia & Indian Subcontinent Continued... Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Thailand

5%

15%

87%

85%

20%

16%

76%

83%

16%

14%

80%

78%

43%

71%

14%29%

17%

17%

89%

83%

CHEMICALS ENERGY

MANUFACTURING PROFESSIONAL SERVICES

China Sectors Key Sectors

India Sectors Key Sectors

3%

4%

50%

59%

14%

3%

69%

85%

3%

4%

96%

75%

23%

24%

54%

52%

CHEMICALS ENERGY

MANUFACTURING TELECOMS

Thailand’s hiring levels are lower than those currently being seen in other Asian countries, but a level of job reductions of 14% is well below the regional average.



The Americas Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Argentina Brazil

Canada

74%65%

35% 39%

With approximately three-quarters of companies currently taking on managers and professionals, and two-thirds expecting to do so in the next quarter, the picture for hiring in Argentina is positive.

65% 66%

32%41%

76%82%

41%47%

The Canadian jobs market shows significant churn. World-leading levels of recruitment and a positive outlook are set against 41% of companies reporting job cuts. Hiring levels are above those reported in the USA and predicted growth to 82% of companies hiring shows that there is a lot of activity taking place.

61%67%

36% 39%

Mexico

The hiring of managers and professionals in Brazil is up markedly from 50% at the beginning of the year to 65% now and is set to rise again over the next three months. However the shedding of staff has also picked up quite dramatically from just 16% in January.

Strong hiring rates in Mexico are expected to continue to improve. Companies seeking to reduce headcounts are at levels in line with the rest of the Americas.



The Americas Continued... Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

USA

63% 66%

37% 34%

Global Snapshot’s findings mirror the recent figures published by the US Labor Department which show that, while the number of jobs in the US economy is climbing, so is the number of unemployed. Our research shows the percentage of companies hiring managers and professionals is up from 56% in January to 63% now, rising to 66% in the coming quarter. However the percentage of businesses shedding staff is also up from just 29% at the beginning of the year to 37% in May.



Australasia Are you currently hiring at managerial/professional level? Do you expect to hire at managerial/professional level over the coming quarter? Are you currently letting people go at managerial/professional level? Do you expect to let people go at managerial/professional level over the coming quarter?

Australia New Zealand

69% 72%

41%48%

The outlook for hiring and firing in Australia is mixed. Current and predicted hiring levels are amongst the highest in the world and considerably above the international average, but this is set against a headcount reduction level of 41%.

67%

98%

67%83%

Much like neighbouring Australia, the picture for New Zealand’s professional job market is mixed. A current hiring level of 67% puts it amongst the leading nations, and predictions for this to hit 98% are hugely positive, but this is set against a headcount reduction rate of 67% and predictions for further cuts.


THE ANTAL INTERNATIONAL ‘GLOBAL SNAPSHOT’ THE CURRENT PICTURE

Winners and Losers – Regions

In a continuing demonstration of the shifting balance of economic power in recent years, the region with the highest current level of recruitment activity at managerial and professional level was the Asia-Pacific area at 65%. However the continuing recovery of the US economy meant that the Americas region was not far behind at 64%. In sharp contrast, Western Europe scored a relatively poor 45%.

Winners and Losers – Sectors

Across the globe the sectors with the highest current levels of recruitment at professional and managerial level were:

1) Banking 2) Engineering 3) FMCG 4) IT software 5) Manufacturing

The lowest were shipbuilding, music and entertainment and airlines.

Global Snapshot – The Worldwide Picture

Are you currently hiring at managerial/professional level? – 54%

Are you currently letting people go at managerial/professional level? – 22%


THE ANTAL INTERNATIONAL ‘GLOBAL SNAPSHOT’ THE OUTLOOK

Winners and losers – Regions

Forecasts for the next quarter suggest that the Asia Pacific region will continue to offer the best prospects for managers and professionals with 73% of organisations planning to recruit at this level. Prospects in the Americas are set to improve with 66% of companies intending to add to headcount, whilst the situation in Western Europe is also looking more positive with 51% of businesses preparing to hire.

Global Snapshot – the worldwide picture

Do you expect to hire at managerial/professional level over the coming quarter? – 58%

Do you expect to let people go at managerial/professional level over the coming quarter? – 25%

OUTLOOK: Expecting to hire in

the next quarter


THE ANTAL INTERNATIONAL ‘GLOBAL SNAPSHOT’

Conclusion Not an approaching train Cynics often tell us that the light we can see at the end of a tunnel is actually the headlamps of an approaching train. Fortunately this does not seem to be the case in terms of the global professional jobs market. The signs of recovery that we detected in the Global Snapshots produced in September 2009 and January 2010 have been repeated in this edition. Across the world the level of hiring at managerial and professional level has risen slightly since the beginning of the year from 53% to 54% and looks set to rise again over the next quarter to 58%. At the same time the percentage of organisations shedding staff in the ‘magnificent middle’ has dropped from 28% in January to just 22% now. And if anyone ever doubted the underlying robustness of the global financial services community they should look no further than this edition of Global Snapshot. After a painful period of large scale redundancies and recruitment freezes, the banking sector is once again the most active hirer of talent around the world. Of course no recovery is ever simultaneous and universal. A number of countries in both Western and Eastern Europe have seen a drop in hiring levels, as has Nigeria and Africa’s largest economy, South Africa despite the economic optimism generated by the looming World Cup. In the last two editions of Global Snapshot we have hesitated to suggest that a genuine and sustained recovery is underway, wary of the fact that more unpleasant surprises might still be announced by the banking community. However the fact that this industry now tops the list of the world’s most active sectors gives us the confidence to predict that a double dip recession is now unlikely to take place. As a result the nascent war for talent that has already broken out is likely to become fiercer over the next few months, as the most prescient businesses snap up the people who will enable them to secure best advantage in improving markets. Contact If you would like any further information about material included in this report or would like to reserve a copy of the next ‘Global Snapshot’, contact James Griffin at [email protected] or your local Antal office – see www.antal.com for more details. James Griffin Antal International 64 Baker Street London W1U 7GB Tel: +44 (0)207 467 2520 Fax: +44 (0)207 467 2521 Email: [email protected] www.antal.com www.snapshot.antal.com

antal global snapshot edition 6

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professional hiring

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