A Significantly Strong Job Market Is Expected In Slovakia For Q1 2022
- In the 60th anniversary edition of the ManpowerGroup Employment Outlook Survey (NYSE: MAN), 21 % of Slovak employers report to increase payrolls in Q1 2022.
- An increase in payrolls is expected in all Slovak industry sectors during the upcoming quarter, headed by the Banking, Finance, Insurance and Real Estate sector (+44%) and the IT, Technology, Telecoms, Communications and Media as well as the Construction sectors (+35% for both).
- In all four regions, employers expect to grow payrolls, with the strongest hiring pace forecast for Bratislava (+44%).
- Only 10% of Slovak employers plan to require proof of double vaccination and booster shot from their employees, while 28% have no plans to introduce a fixed policy on employee vaccination letting individuals to decide.
- For the next 3 months, Slovak employers report presence of their workforce, considering the nature of the role, as follows: majority of IT employees, Finance & Accounting and HR roles will work remotely all the time or combine remote work with work from home, while 55% of workforce from Production & Manufacturing sector will work from the workplace all the time.
- Globally, employers in 36 of the 40 countries and territories report higher intentions than the previous quarter.
BRATISLAVA (December, 14, 2021) – According to the latest ManpowerGroup (NYSE-MAN) Employment Outlook, a total of 505 Slovak employers were asked, “How do you anticipate total employment at your location to change in the three months to the end of March 2022 (January, February, March) as compared to the current quarter (October, November, December 2021)?”
With 37% of employers expecting to increase payrolls, 18% forecasting a decrease and 40% anticipating no change, the resulting Net Employment Outlook (NEO) is +19%.
Once the data is adjusted to allow for seasonal variation, the Outlook stands at +21%. Job seekers can expect the NEO to improve by 11-percentage points since the last quarter and 23-percentage points since the first quarter of 2021.
“Additional research concerning the vaccination policy in organizations shows that the attitudes of companies on this issue are diverse. Almost one third (29%) of Slovak employers plan to urge vaccination by highlighting its benefits and 9% will offer incentives (e.g. cash bonus) to encourage vaccination, in comparison with 16% of employers who will mandate double vaccination and require proof for all employees and 10% of those who plan to require proof of double vaccination plus booster shot.
Almost one third (28%) of employers have no plans to introduce a fixed policy on employee vaccination letting individuals to decide. A society-wide debate on the obligation to vaccinate against covid-19 is still open,” states Zuzana Rumiz, General Manager of ManpowerGroup Slovakia.
Q1 2022 SLOVAKIA KEY FINDINGS
A significantly strong job market is expected in Slovakia during the next quarter, with hiring managers reporting predictions for a Net Employment Outlook (NEO) of +21-percentage points.
SECTOR COMPARISONS & ROLES MOST IN DEMAND
- For the next quarter hiring managers expect staffing climate improvements for all Slovakian sectors. Compared to three months earlier, job hunters in Slovakia can expect the NEO to improve for 5 of 7* sectors and fall for 2 sectors. Employers expect the NEO to grow for all sectors* over last year.
- Strongest and weakest sectors: The most competitive sector is Banking, Finance, Insurance and Real Estate with employers reporting a NEO of 44. In this sector the NEO rises by 32-percentage points over the last quarter and organizations expect the outlook to improve by 43 points since the first quarter of 2021.
- Hiring decision makers are planning for a NEO of 5 in Primary Production during January to March 2022, making it the sector with the weakest expected staffing environment. Job seekers in this sector can look ahead to the NEO rising by 6-percentage points since the fourth quarter of 2021 and 9-percentage points since last year.
REGIONAL COMPARISONS
- In the first quarter of 2022 staffing climate increases are forecast for all Slovakian regions. Plans are for the staffing climate to improve for 3 of 4 regions since the previous quarter and to drop in only 1. Compared to twelve months ago, organizations plan for the NEO to grow for all regions.
- Strongest and weakest regions: the best performing region is Bratislava with organizations reporting a NEO of 44. Staffing environments are expected to rise by 32-percentage points in this region since employers were asked the fourth quarter of 2021 and to grow by 50 points since last year. The worst performing is the Western region with hiring decision makers reporting a NEO of 8. Since Q4 2021, job seekers in this region can plan for the NEO to drop by -4-percentage points but to grow 6 points since a year ago.
ORGANIZATION SIZE COMPARISONS
- In Q1 2022, all organizations sizes look ahead to staffing environment gains in Slovakia. Hiring managers expect the NEO to improve for all organization sizes compared to the fourth quarter of 2021 and compared to last year.
- First of the best performing organizations are those with 10-49 employees where organizations are expecting a NEO of 23.
- Hiring market plans grow by 9-percentage points in these organizations compared to three months ago and to grow by 25 points since last year.
- Job seekers can expect a similar outlook in organizations with 250+ employees during the first quarter of 2022 (+23%). Job seekers in these organizations can expect the NEO to grow by 1-percentage points since the last quarter and by 24 points since Q1 2021.
- During the next quarter organizations with less than 10 employees are the worst performing organizations with hiring decision makers reporting a NEO of 5. Plans are for the hiring pace in these organizations to rise by 3-percentage points since Q4 2021 and by 11 points since Q1 2021.
