Bratislava (20 September 2022) — Slovak companies plan to recruit more people than lay off in the next quarter. According to the latest survey by ManpowerGroup Slovakia, carried out on a sample of 510 employers, the seasonally adjusted Net Employment Outlook in Slovakia, is + 9%.
However, compared to most European Union countries, the countries neighboring Ukraine, and especially the V4 countries, also feel more cautious in the labor market. This is a two percentage point decrease in the Outlook, compared to the previous quarter. The Net Employment Outlook fell by two percentage points, year-on-year. At the same time, companies continue competing for skilled people and face persistent challenges in filling many job positions.
Global results show uneven economic growth across countries, with markets responding differently to uncertainties and impacts associated with the war in Ukraine, rising inflation and higher living costs. Nevertheless, demand for workers remains record high, with employers in 39 out of 41 countries planning to recruit more people than layoff and the overall Net Employment Outlook stands at + 30%.
“Despite the difficult economic and geopolitical situation, Slovak companies plan to strengthen their employee staff. Employers continue to focus on attracting and retaining the best people and talents, as competition for employees is tough, even more than two years after the beginning of the pandemic,” said Zuzana Rumiz, General Manager of ManpowerGroup Slovakia.
At the same time, it is crucial for companies to work on developing talents and abilities of the people they already employ. Less emphasis is placed on people already mastering all the necessary skills. More importantly, they are able to acquire and gradually increase their qualifications after training.
“The greatest demand is for people with technological skills. Employers in the field of finance, banking and insurance are also competing for qualified employees, to fill the required positions,” adds Zuzana Rumiz.
Companies operating in the banking sector plan to create the most new jobs (37%). This is a significant increase of up to 32 percentage points compared to the previous quarter. The construction sector (24%) and IT, technology, telecommunications, communications and media sector (18%) also have a long-standing high demand for employees.
Employers in all regions, apart from Central Slovakia, plan to recruit more people than layoff. Most companies plan to recruit new people in Bratislava with a Net Employment Outlook of 15 %. This is three percentage point growth year-on-year, but is down by four percentage points compared to the previous quarter. Employers in Eastern and Western Slovakia are slightly less optimistic about recruitment plans than a year ago.
The largest number of employees are planned to be recruited by medium-sized organizations, which employ between 50 and 249 employees, with a Net Employment Outlook of 20%. This is an increase of 8 percentage points compared to the prospects a year ago. At the same time, it is an increase of 11 percentage points compared to the previous quarter.
Unless stated otherwise, all data are seasonally adjusted. The formula with which the data are seasonally adjusted is refined from quarter to quarter, and data for previous quarters are recalculated with the new formula to take account of the more data available.