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Antal global market update: jobs market remains strong 25/03/2012
Despite ongoing worries about fall-out from the eurozone crisis, Antal International's global survey of over 19,000 organisations in 52 countries has found the jobs market for professionals and managers holding up well.
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- Hiring on the up this year?
- Western Europe
- Eastern Europe and Eurasia
- Middle East & Africa
- Asia Pacific
- The Americas
- Recruitment activity by sector
- Emerging markets driving success
Hiring on the up this year?
The latest ‘Global Snapshot’ project which asked 19,376 companies in major markets such as western and eastern Europe, Africa, India, China and the USA whether they were currently hiring at professional and managerial level shows current hiring levels across the globe were up with 55% of respondents recruiting at professional and managerial level in comparison to 52% to the last survey in July.
54% of organisations questioned also intend to hire in the coming quarter. The rate of attrition was down slightly from 17% in July to 16% now and this is expected to drop to 15% over the next three months.
The highest levels of hiring were found in Malta (82%), Luxembourg (69%), Norway (68%) and Sweden (68%), while the lowest was recorded in Spain where only 27% of companies questioned were in the process of recruiting at professional or managerial level.
In the UK the percentage of businesses recruiting was down from 61% in July to 48% now but is expected to rise to 58% in the coming quarter.
Eastern Europe and Eurasia
The highest levels of recruitment in this region were found in Turkey (74%), Russia (67%) and Czech Republic (65%). The lowest were recorded in Hungary (39%) and Croatia (38%).
Middle East & Africa
Employment markets were relatively strong across the region, the weakest, in Bahrain registering a respectable 52% hiring rate. The highest levels of recruitment were found in Qatar (77%), Saudi Arabia (73%) and Oman (70%).
In Africa's most high profile economy, South Africa, hiring levels were up dramatically from 56% in July to 68% now and this figure is only expected to dip marginally to 67% over the next three months. The highest level of recruitment was seen in Nigeria where 73% of businesses polled were hiring professionals or managers.
The Philippines recorded the highest level of recruitment activity in all 52 countries surveyed with 98% of organisations currently hiring. Activity was down marginally in China from 70% in July to 67% now but is expected to climb to 68% in the coming quarter.
In India the percentage of organisations increasing headcount had risen from 69% in July to 72% now and is due increase to 75% in the next three months.
All six employment markets surveyed in the Americas – Argentina, Brazil, Canada, Chile, Mexico and the USA – all registered at least 60% hiring activity at professional and managerial level.
Canada had the strongest performance with 66% of businesses currently seeking staff.
Recruitment activity by sector
Across the globe, the sectors with the highest levels of recruitment at managerial and professional level were:
2. Shared services
4. Automotive & aerospace
5. Consumer goods
The lowest was the legal sector, with 40% of organisations questioned currently hiring.
Emerging markets driving success
Despite predictions of a return to the darkest days of 2008 and 2009, the latest Snapshot sees overall hiring levels actually greater than in the summer – up to 55% of organisations surveyed from 52% in July. While the ongoing troubles of the eurozone seems to be generating an atmosphere of near panic amongst many bankers and politicians, global employment markets, at least at professional and managerial level appear to be holding up well.
As might be expected the driving force behind the figures is the continuing success of economies in emerging markets, particularly those in Asia. As a result the region has the highest level of recruitment around the world – 67% in comparison to just 39% in Western Europe. The Global Snapshot continues to highlight just how dramatic the shift of economic power is becoming. If this trend continues it could be that the next generation of movers and shakers in the business world will be found in Beijing, Brasilia or Bangalore rather than in Boston, Birmingham or Berlin.
Tony Goodwin, CEO, Antal International
Tony is CEO of Antal International