ManpowerGroup Employment Outlook Survey Q2 2022

A Stable Encouraging Job Market Is Expected In Slovakia for Q2 2022

• • According to the ManpowerGroup Employment Outlook Survey (NYSE: MAN), 11 % of Slovak employers report to increase payrolls in Q2 2022

• • An increase in payrolls is expected in 10 of 11 Slovak industry sectors during the next quarter, headed by the Banking, Finance, Insurance and Real Estate sector (+21%), the Construction sector (+15%) and IT, Technology, Telecoms, Communications and Media sector (+13%)

• • In 3 of 4 regions, employers expect to grow payrolls, with the strongest hiring pace forecast for Bratislava (+22%).

• • Vast majority of Slovak employers is focused on women/diversity issues, for example greater pay equity or increasing the number of women in management positions or in traditionally male dominated positions.

• • Globally, employers in 33 of the 40 countries and territories report weaker hiring intentions than the previous quarter. 

BRATISLAVA (March 29, 2022)  – According to the latest ManpowerGroup (NYSE-MAN) Employment Outlook, a total of 513 Slovak employers were asked, “How do you anticipate total employment at your location to change in the three months to the end of June 2022 (April, May, June) as compared to the current quarter 2022 (January, February, March)?” With 32% of employers expecting to increase payrolls, 23% forecasting a decrease and 37% anticipating no change, the resulting Net Employment Outlook (NEO) is +9%.

Once the data is adjusted to allow for seasonal variation, the Outlook stands at +11%. Job seekers can expect the NEO to worsen by -5 percentage points compared with Q1 2022 and grow by 6 points when compared with this quarter last year.

“Additional research concerning women/diversity at work shows that 81% of Slovak employers is focused on this issue in some way, with 88% of employers having defined at least one target in this area. 

This means for example greater pay equity or increasing the number of women in management positions, in senior leadership positions or in traditionally male dominated positions. For most of Slovak employers, the best programs/initiatives to achieve these goals are mentoring and coaching (21%), flexible working policies or networking. 

Regarding the timeframes, most of the Slovak employers plans to reach their diversity targets within 1 – 2 years (66%) and are satisfied with the progress. Most of the organization leaders also held accountable for these targets,” states Zuzana Rumiz, General Manager of ManpowerGroup Slovakia.

Q2 2022 SLOVAKIA KEY FINDINGS 

During the second quarter of 2022, organizations are expecting a strong staffing climate in Slovakia, with plans for a +11-percentage point Net Employment Outlook (NEO) reported by hiring decision makers.

SECTOR COMPARISONS & ROLES MOST IN DEMAND

Note:  

Primary Production includes: Agriculture, Forestry and Fishing; Mining and Quarrying; Electricity; Gas and Air Conditioning Supply; Water Supply; Sewerage, Waste Management and Remediation Activities.  

Other Services: Professional, Scientific and Technical Activities; Administrative and Support Services; Other Service Activities. 

• • Slovakian job seekers can expect the NEO to worsen by -5 percentage points compared with Q1 2022 and grow by 6 points when compared with this quarter last year.
  • During the second quarter of 2022 staffing climate gains are expected for 10 of 11 Slovakian sectors. For 1 of 11 Slovakian sectors, organizations expect hiring environment losses in the next quarter. Compared to this quarter last year, Slovakian workers can anticipate the NEO to improve for 6 of 7 sectors but decline for 1 of 7 sectors compared with the second quarter of 2021.
  • Strongest and weakest sectors: Reporting a NEO of 21, organizations in the Banking, Finance, Insurance and Real Estate sector expect the top performing hiring environment during the quarter from April to June 2022. This sector’s organizations expect the NEO to worsen by -23 percentage points compared to the previous quarter and organizations expect the outlook to grow by 10 points compared to this quarter last year. In Q2 2022 Manufacturing is the lowest-performing sector, with hiring decision makers reporting a NEO of 4. In this sector hiring managers expect hiring plans to decline by -3 points quarter-on-quarter.

REGIONAL COMPARISONS

• • For the coming quarter improvements are expected in the staffing environment for 3 of 4 Slovakian regions. For 1 of 4 Slovakian regions, organizations expect hiring climate decreases during the coming quarter. Slovakian workers can expect the NEO to decline for all regions compared with the first quarter of 2022 and improve for 2 of 4 regions compared with this quarter last year. Expectations remain constant for 1 of 4 regions since hiring decision makers were asked in this quarter last year.
  • Strongest and weakest regions: The best-performing region is Bratislava, with employers reporting a Net Outlook of 22. Since being asked in the previous quarter, employers in this region plan for the NEO to worsen by -22 percentage points. Forecasts also grow by 15 points compared to the second quarter of 2021. Reporting a NEO of -1, hiring managers in Central expect the least competitive hiring environment during the next quarter. In this region hiring managers anticipate plans to worsen by -8 points quarter-on-quarter and decline -3 points compared with this quarter last year.

ORGANIZATION SIZE COMPARISONS

• • In Q2 2022, for 3 of 4 Slovakian organization sizes, gains are expected in the hiring climate for the coming quarter and decreases for 1 organization size.
  • Workers in Slovakia can plan for the NEO to decline for all organization sizes compared to the previous quarter.
  • Job hunters in Slovakia can expect the NEO to improve for 3 of 4 organization sizes compared to this quarter last year. Forecasts to worsen in 1 of 4 organization sizes compared to Q2 2021.
  • With a NEO of 22, employers in organizations with 250+ employees expect the strongest staffing environment. Compared to the first quarter of 2022, these organization size’s job hunters can anticipate the NEO to decline by -1 percentage point and grow by 12 points compared to Q2 2021. Reporting a NEO of -3, employers in organizations with less than 10 employees expect the weakest staffing climate during the quarter from April to June 2022. Compared to the previous quarter, these organization size’s workers can plan for the NEO to worsen by -7 percentage points and by -5 points compared to the second quarter of 2021.

GLOBAL HIRING PLANS FOR Q2

• • Employers around the world are still expecting to grow payrolls, although there is less of an expectation than there was last quarter.
  • According to the ManpowerGroup Employment Outlook Survey (NYSE: MAN), 33 of the 40 countries report weaker intentions than the previous quarter.
  • The strongest hiring plans for the next three months are reported in Brazil (+40%), Sweden (+38%), India (+38%), Mexico (+38%), and Colombia (+38%). The weakest hiring sentiment is reported in Greece, Poland, Japan, Taiwan, and Romania.
  • In a year-over-year comparison, Outlooks improve in 36 countries and territories but weaken in 4 (Taiwan, Greece, Romania, and Poland)

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