Navigos Search report for third quarter reveals Manufacturing accounts for one-third of recruitment needs in mid-level and senior positions.
Manufacturing, Retail & Consumer Goods, Finance & Banking, and Information Technology (IT) recorded the highest demand for mid-level and senior positions in the third quarter, according to Navigos Search’s latest report based on requests from its clients.
Manufacturing had the most openings for mid-level and senior positions, accounting for 33 per cent of total recruitment needs in the quarter.
Industrial manufacturing, electronics, and textiles saw the greatest demand. Though labor demand in manufacturing remains high its growth is slowing, according to the report.
“Electronics no longer has an enormous amount of new openings for smartphone engineers like in the previous two quarters,” the report noted.
The energy sector, however, including hydropower and thermo-power, experienced higher demand for senior employees due to more projects being licensed to foreign investors. Recruitment for the sector currently experiences some challenges due to a shortage of candidates, according to the report.
Demand for mid-level and senior positions based on requests from Navigos Search's clients
Source: Navigos Search
Ranked second in terms of demand for mid-level and senior positions in the quarter, with 16 per cent of total openings, the Retail & Consumer Goods industry sees growing demand for mid-level managers while the need for senior positions is being tempered.
Through its observations, Navigos Search explains that foreign retail chains have completed M&A deals and are now in operation after building senior management teams over the last year. Significant changes are happening in Retail as some major corporations continue their restructuring process, which includes job cuts.
Though only ranked third in the need for mid-level and senior employees, with 13 per cent, the Finance - Banking - Insurance sector still experiences significant demand for these positions.
While foreign banks have little recruitment need due to shrinking operations or ongoing restructuring of parent companies, domestic commercial banks continue to look for new employees to expand their operations and for replacement, according to the report.
“It is worth noting that the fiscal/financial year of foreign audit firms begins in July, which makes HR demand greater in this quarter than the rest of the year,” the report stated.
IT had great demand for recruitment during the quarter. Though it only makes up 10 per cent of total recruitment needs and is ranked fourth among all sectors, according to Navigos Search’s data, the industry has experienced a great deal of development.