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ManpowerGroup Employment Outlook Survey 4Q 2021

Employers report Fair Hiring Prospects For Slovak Job Seekers in 4Q 2021  ManpowerGroup Employment Outlook Survey* shows ongoing optimism of employers about labor market recovery Additional findings from…

Employers report Fair Hiring Prospects For Slovak Job Seekers in 4Q 2021 

  • ManpowerGroup Employment Outlook Survey* shows ongoing optimism of employers about labor market recovery
  • Additional findings from ManpowerGroup Talent Shortage Survey** reveal 73% of the employers in Slovakia report difficulty hiring.
  • An increase in payrolls is expected in almost all Slovak industry sectors during the upcoming quarter, headed by the Manufacturing sector (+18%) and the Other Services sector(+14%).
  • In 3 of four 4 regions, employers expect to grow payrolls, with the strongest hiring pace forecast for Western Slovakia(+13%).
  • Globally, employers in 41 of the 43 countries and territoriessurveyed expect to grow payrolls during the fourth quarter of 2021, based on seasonally adjusted data.

 

 

BRATISLAVA (September 28, 2021) – According to the latest ManpowerGroup (NYSE-MAN) Employment Outlook Survey of almost 45,000 employers in 43 countries, optimistic hiring climate is still prevailing among the employers. Hiring plans improve in 31 countries quarter-over-quarter. In comparison with the fourth quarter of 2020 – when the COVID-19 pandemic was in full swing across much of the globe – employers in all 43 countries and territories anticipate stronger labor markets. Slovakian employers report fair hiring prospects in the upcoming quarter.

For the Survey, a total of 758 Slovak employers were asked,

How do you anticipate total employment at your location to change in the fourth quarter of 2021 as compared to the current quarter?”

With 17% of employers expecting to increase payrolls, 8% forecasting a decrease and 69% anticipating no change, the resulting Net Employment Outlook is +9%.

Once the data is adjusted to allow for seasonal variation, the Outlook stands at +10%. Quarter-over-quarter, hiring plans are 2 percentage points weaker, but 10 percentage points stronger when compared with this time one year ago.

 

“Additional research** concerning the talent shortage shows 73% of Slovak employers indicating difficulty filling positions due to lack of skilled talent. To help fill the jobs, for 62% of organisations trainings, skills development and mentoring is the best option. Meanwhile, 46% of employers prefer increased wages, followed by non-financial benefits or flexible work schedules as incentives.

Concerning the upskilling programs, the most popular are compulsory training including compliance (already employed by 84% of employers), accelerated upskilling programs in technical skills (46% of employers) and manager and leader development training (36%). Most of the employers say, upskilling/reskilling is relevant mainly for existing employees in higher skilled roles, followed by students or recent graduates and existing employees in low skilled roles.

When it comes to the ability to increase upskilling programs, the biggest barrier is money. Time and lack of desire to increase upskilling programs take second and third place, respectively.

As remote working continues as a result of the COVID-19 pandemic; 45% of employers would describe the overall ‘mood’ felt by their mid to senior managers as positive, energized or resilient. This is compared with the negative mood felt by 39% of the managers,” states Zuzana Rumiz, General Manager of ManpowerGroup Slovakia.

 

 

SECTOR COMPARISONS

Workforce gains are expected in six of the seven industry sectors during the next three months. Quarter-over-quarter, employers in three sectors report improved hiring intentions, while Outlooks weaken in three sectors and are unchanged in one. Year-over-year, hiring intentions strengthen in five industry sectors and are weaker in two.

Manufacturing sector employers anticipate the strongest hiring pace, reporting a Net Employment Outlook of +18%. Employers report improvement of 7 and 30 percentage points from 3Q 2021 and 4Q 2020, respectively. Elsewhere, steady job gains are forecast for the Other Services sector, where the Outlook is +14%, and in both the Finance & Business Services sector and the Wholesale & Retail Trade sector, with Outlooks of +12%. Some workforce gains are also expected in the Restaurants & Hotels sector and the Construction sector, where Outlooks stand at +1%. Quarter-over-quarter, employers report a decline of 17 (Restaurants & Hotels) and 12 (Construction) percentage points, respectively.

Meanwhile, Other Production sector employers forecast a weak labor market with an Outlook of -6%, declining by 14 percentage points quarter-over-quarter, but improving by 5 percentage points year-over-year.

 

REGIONAL COMPARISONS

Employers in three of four regions expect to add to payrolls during the fourth quarter of 2021. The strongest labor market is forecasted in the Western Slovakia with the Outlook of +13%. Elsewhere, employers in Bratislava and the Eastern region also anticipate a steady hiring pace, reporting an Outlook of +12% and 11%, respectively, while the Central Outlook of -3% reflects subdued hiring intentions.

Quarter-over-quarter, hiring sentiment strengthens by 1 percentage point in Bratislava and is unchanged in Eastern and Western Slovakia. However, employers in Central Slovakia report a decline of 10 percentage points.

When compared with last year at this time, Outlooks strengthen in all four regions, most notably by 14 percentage points in Western Slovakia. Increases of 11 and 6 percentage points are reported in the Eastern and Bratislava regions, respectively, while employers in Central Slovakia report an improvement of 2 percentage points.

 

 

ORGANIZATION SIZE COMPARISONS

An increase in payrolls is expected in all four organization size categories during the fourth quarter of 2021. The strongest hiring plans are reported by Large employers with a Net Employment Outlook of +25%. Medium employers expect steady job gains, reporting an Outlook of +9%, while Outlooks stand at +5% and +2% for Small- and Micro-size firms, respectively.

In a comparison with the previous quarter, hiring prospects strengthen by 5 percentage points for Large employers. Meanwhile, decreases of 4, 5 and 2 percentage points are reported by Medium-, Small- and Micro-size employers, respectively.

Hiring intentions strengthen by 17 percentage points for Large employers when compared with this time one year ago, and increases of 14 and 11 percentage points are reported by Medium- and Small-size employers, respectively. However, the Outlook for Micro firms declines by 2 percentage points.

 

 

GLOBAL OUTLOOK

Globally, employers in 41 of the 43 countries and territories surveyed expect to grow payrolls during the fourth quarter of 2021, based on seasonally adjusted data. Strongest hiring prospects are reported in the United States (+48%), India (+44%), Canada (+40%), the Netherlands (+40%), Mexico (+39%) and France (+37%). Meanwhile, employers in Panama (-2%), South Africa (-2%), Singapore (+1%), Croatia (+2%) and Argentina (+4%) anticipate the weakest hiring activity in the coming quarter.

To view complete results for the ManpowerGroup Employment Outlook Survey, visit: www.manpowergroup.com/meos.

To view more detailed results for Slovakia, visit: www.manpower.sk/prieskumy.

 

The next survey will be released December 14, 2021 and will report hiring expectations for Q1 2022.

 

 

Methodology 

The ManpowerGroup Employment Outlook Survey is conducted using a validated methodology, in accordance with the highest standards in market research. The survey has been structured to be representative of each national economy. The margin of error for almost all national, regional and global data is not greater than +/- 5%. Seasonal adjustments have been applied for countries and territories that have accumulated at least 17 quarters of data, Croatia being the exception. ManpowerGroup intends to add seasonal adjustments to the data for Croatia in the future, as more historical data is compiled.

 

The methodology used to collect the data for the Employment Outlook changed for [Q4 2021 / Q1 2022]. Respondents in prior quarters were contacted via telephone. With the shift to remote working and much higher reliance on the internet, survey responses are now being collected online. Respondents are members of double opt-in online panels and are incentivized to complete the survey. The question asked and the respondent profile remains unchanged. Size of organization and sector are standardized across all countries to allow international comparisons.

 

 

ABOUT MANPOWERGROUP 

ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality and Disability and in 2021 ManpowerGroup was named one of the World’s Most Ethical Companies for the 12th year – all confirming our position as the brand of choice for in-demand talent.

 

ABOUT MANPOWERGROUP SLOVAKIA

In Slovakia, ManpowerGroup takes care of the personnel and payroll agenda for more than 2,000 assigned employees working for its clients every month. Thanks to its network of 6 ManpowerGroup workplaces, it finds 6,000 new employees for 500 clients a year. More information at www.manpower.sk

*The Employment Outlook Survey – conducted August 2021 – is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.

 

**The Talent Shortage Survey – undertaken in August 2021 – the annual survey identifies the proportion of employers who report difficulty filling positions in their organization. It reports on which jobs employers say are most difficult to fill and identifies candidate shortcomings that are preventing employers from filling positions. Employers are also asked to gauge the degree of impact talent shortages have on their organizations and which strategies they are using to overcome the skills gap.