Companies in Bulgaria have not Planned to Hire so Few Employees in Four Years

Business | December 18, 2018, Tuesday // 13:59| Views: | Comments: 0
Bulgaria: Companies in Bulgaria have not Planned to Hire so Few Employees in Four Years

Bulgarian employers sharply reduce their plans for staff increases, according to the ManpowerGroup's regular employment survey. The forecast, which collects data from 620 employers from five regions in Bulgaria, is the weakest in the last four years, with hiring prospects decreasing by 2 percentage points compared to the previous quarter and by 5 percentage points on an annual basis. 11% of employers plan to increase employment rates, 7% provide a reduction, and 78% do not expect any change. Adjusted for seasonal fluctuations, the country's net employment forecast is + 8%.

"Employers intentions to recruit in the first quarter of 2019 remain relatively modest, due to the fact that at the beginning of the year they usually wait to see how things will develop before making more serious decisions to increase of the workforce, while companies increasingly share their concerns that they need new employees but can not find enough suitable candidates, and currently some of the most sought-after profiles include workers and expert positions, and many employers and have already begun to import such talents from abroad, "said Alexander Hangimana, Managing Director of ManpowerGroup Balkans.

"It is extremely important that all stakeholders - directors, human resources managers and owners - realize that the labor market is extremely competitive, so they have to provide employees with a long-term commitment to remain on the market. They must be prepared and invest in their workforce and the quicker they reacts to the current situation, the better will be their position in the future. "

In the next three months, employers are forecast to increase employment levels in all five regions, with the strongest labor market expected in Plovdiv, where the net employment forecast is + 12% - an improvement of four percentage points over the previous quarter. Sofia and Varna also forecast new jobs with forecasts of + 9%, while employers in Rousse and Burgas report forecasts of respectively + 8% and + 7%. Compared to the previous quarter, employee recruitment decreases in three of the five regions, with employers in Varna reporting the most significant drop of 8 percentage points, while the forecasts for Burgas and Rousse are weaker by 2 percentage points. At the same time, the forecast for Sofia is improving by 2 percentage points.

For individual sectors, employment rates are expected to increase in all 10 industries in the next quarter. Employers in the Finance, Insurance, Real Estate and Business Services sector share strongest hiring intentions with a net employment forecast of + 25% - a significant increase of 15 percentage points over the previous quarter. The Construction sector also reported a growth of 15 percentage points with a forecast of + 19%, while employers in the Wholesale & Retail sector forecast a + 14%. Both in the Agriculture, Hunting, Forestry and Fisheries sector and in the Manufacturing sector, employers foresee a moderate labor force increase of + 10%, while the Mininig and the Public and Social sectors reported the worst forecasts of + 2%.

In addition, employers from medium-sized companies (50-249 employees) share the strongest hiring intentions with a net employment forecast of + 14%, while the forecast for large enterprises (> 250 employees) is + 13%. 

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