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<p>In our ongoing ENEX Partner series featuring our global firms and the people behind, we now turn our spotlight to HILL International Czech Republic. </p><p>This time, we have the pleasure of interviewing David Petrů, Managing Partner at HILL International in Prague. He offers us a detailed look at the unique challenges and characteristics shaping the Czech labor market today.<br></p><figure id="figure-uvidwkfkdmm0ks45im"><img id="uvidwkfkdmm0ks45im" src="https://cdn.durable.co/blocks/38jsGBY5m7OwIJNWMct8jDyjR2eppBNuyEl50W0ShFKWD8LZvn5FDtsbdWN9CNK7.jpg" alt="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" title="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" class="object-cover bg-gray-100 " style="aspect-ratio: 3/2; object-position: undefined undefined;" data-corners="default" data-aspect="3:2" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/38jsGBY5m7OwIJNWMct8jDyjR2eppBNuyEl50W0ShFKWD8LZvn5FDtsbdWN9CNK7.jpg" data-mce-style="aspect-ratio: 3/2; object-position: undefined undefined;"></figure><p><em>David Petrů</em></p><blockquote><p>I live in Prague and joined HILL International in 2006. I am the Managing Partner responsible for our company in the Czech Republic and Slovakia. I am 48 years old, completed university studies in economics and sociology, and have worked as an HR and Leadership consultant since 2002. With HILL International we provide our clients with quality executive search services, tailor-made leadership assessments, psychodiagnostics, outplacement programs, and 360-degree feedback solutions globally.</p></blockquote><h3>Insights into the current Czech economy, specifically regarding the labor market situation</h3><p>The Czech Republic is a mid-sized country with almost 11 million inhabitants, located in the heart of Europe. It has an open, export-oriented economy with a significant proportion of industrial production (30% share of the GDP). GDP per capita is at 94% of the EU average. Prague, the capital city, ranks as one of the wealthiest areas in Europe (Prague held the number four spot in the EU regional ranking for 2022, based on GDP per capita).</p><p>The general employment rate, which measures the share of the population aged 20 to 64 years who are employed, is quite high at 81% (the EU average is 75%). Only 12% of the population was at risk of poverty or social exclusion in 2023 (the EU average is 21%).</p><p>Out of a total workforce of 5.51 million employees, approximately 825,000 are foreigners (15%). The average gross nominal wage (per employee, reflecting the type of job contract) climbed to 46,000 CZK by the end of 2023 (about 1,850 EUR).</p><figure id="figure-vmqdyc9h56m20ltv2v"><img id="vmqdyc9h56m20ltv2v" src="https://cdn.durable.co/blocks/20SRVPx4vOoWvPx8pSkVkCgiUyE7jkbO3djysJZiZv3bXJiv3MDU9sjbHBfsms5Z.png" alt="Job search, headhunting and recruitment process concept. Icons for skills, education, qualification, interview and application inside gears. Hiring and human resources workflow automation." title="Job search, headhunting and recruitment process concept. Icons for skills, education, qualification, interview and application inside gears. Hiring and human resources workflow automation." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/20SRVPx4vOoWvPx8pSkVkCgiUyE7jkbO3djysJZiZv3bXJiv3MDU9sjbHBfsms5Z.png" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><h3>The low unemployment and low fluctuation rates</h3><p>After the COVID-19 pandemic, supply chain disruptions, Russia's war against Ukraine, the subsequent energy crisis, and two years of high inflation, the economy is stagnating.</p><p>However, despite these heavy external shocks, the unemployment rate remains steadily low. Why? How can we explain such a labor market situation?</p><p>Due to the low unemployment rate over the last decade, there is a significant shortage of employees across various qualifications. Companies are well aware of how expensive it is to recruit and retain qualified staff. As a result, they are hesitant to dismiss their employees.</p><p>There is also a culturally low fluctuation rate compared to other countries. While having mostly loyal employees sounds positive, it negatively affects labor market efficiency. In other words, large groups of employees (with various qualifications) could earn more by moving to other companies or regions, but due to their rigidity, this does not happen. Companies in growing industries often struggle to increase output due to a lack of employees. This leads to inefficiency in the labor market, preventing the economy from reaching its full potential.</p><p>Socially, there is a historic trade-off between wage levels and unemployment rates. As a result, the real income of employees is stagnating and not keeping pace with inflation. According to the Czech Statistical Office, real wages and salaries are still approximately 5% lower than in 2019.</p><p>Another source of rigidity may be the societal unwillingness to relocate for work. The willingness to commute is limited (a maximum of 50 km or 45 minutes one way is typically accepted).</p><h3>Different generations in the workforce and the role of modern leadership</h3><p>There is also an obvious trend of an aging workforce. Over the last 10 years, the average age of a working person has increased by more than two years, coupled with a low birth rate. Consequently, we do not foresee significant improvements in the labor market situation in the near future.</p><p>We are observing a significant shift to home office arrangements. In the long term, 32% of the working population works partially or fully from home.</p><p>Younger generations strongly prefer work-life balance and tend to avoid basic production jobs.</p><p>There is also a clear trend toward modern, inclusive leadership. Autocratic management styles seem to be a thing of the past. Candidates react positively to companies that offer opportunities for self-realization and autonomy. Soft factors like the personality of a potential manager, leadership style, information sharing, involving teams in change management, and efforts to retain and develop internal employees are now almost always part of candidates' decision-making processes.</p><p>The Czech Labor Code heavily protects employees, and the workforce regulations and laws are complex, contributing to market rigidity.</p><h3>Potential solutions for the Czech labor market</h3><p>To conclude, there are many reasons why the Czech labor market is not as efficient as it could be.</p><p>In my opinion, the best solution for our labor market is to increase immigration to provide “fresh blood.” The market quickly absorbed 500,000 refugees from Ukraine.</p><p>In another solution attempt, many of our clients continue to heavily invest in digitalization, automation, and robotization. Of course, here the challenge will be in upskilling the workforce to adapt to the changing demands of the global economy.</p><p>The impact of these trends on our services is positive. Our services are, and will continue to be, in demand in the coming years, particularly in executive search and direct recruitment. All the aforementioned factors create an obvious need for thorough, personalized professional assessments of managerial candidates. And we are experts in that!</p><p><br></p><p>Want to learn more? Go to <a href="https://www.hill-international.com">https://www.hill-international.com</a> <br></p><figure id="figure-rhocdm2empm0ks8dfe"><img id="rhocdm2empm0ks8dfe" src="https://cdn.durable.co/blocks/35MpFxpI7nPrQ8Hoiq39DzMdrhXKbCABcLpmYRqh6tjFrYYEkOJsBb6ixN77KDUK.jpg" alt="Data analysis of document ai artificial intelligence process with technology processor to planning business information data, tech, network corporate concept." title="Data analysis of document ai artificial intelligence process with technology processor to planning business information data, tech, network corporate concept." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/35MpFxpI7nPrQ8Hoiq39DzMdrhXKbCABcLpmYRqh6tjFrYYEkOJsBb6ixN77KDUK.jpg" data-mce-style="aspect-ratio: 16/9; object-position: undefined undefined;"></figure>

Partner Series | Czech Republic, an overly static labor Market?

a large metal structure with mirrored balls on top of it

<p>Welcome to another ENEX Partner series, where we introduce our global Partner firms and the people behind the organisations. Today we introduce to you Mentorprise, the Belgian ENEX Partner.</p><p>Founded over 30 years ago, Mentorprise is an experienced en renowned Belgian Boutique firm, specializing in Executive Search, Talent Management and Bridge Management. The organisation has a rich history of helping businesses identify, cultivate, and transition leadership talent. With a firm commitment to innovation and client success, Mentorprise has become a trusted partner for companies navigating the complexities of today’s labor market.&nbsp;</p><p>Mentorprise has built up a client portfolio in profit, non-profit and public sectors. Amongst other achievements, ENEX Belgium (Mentorprise) is a trusted partner for the Flemish Government, to execute Executive Search for their top-positions. In profit, Mentorprise is mainly active in Automotive, Energy, Engineering, Financial Services, Food, FMCG, Healthcare, Industry, Professional Services and &nbsp;Technology.&nbsp;</p><figure id="figure-uvidwkfkdmm0ks45im"><img id="uvidwkfkdmm0ks45im" src="https://images.unsplash.com/photo-1594492691731-3d7974140624?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwzfHx0aGUlMjB3b3JsZHxlbnwwfHx8fDE3MDYyMTAzMDV8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="black and white cat in cage" title="black and white cat in cage" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://images.unsplash.com/photo-1594492691731-3d7974140624?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwzfHx0aGUlMjB3b3JsZHxlbnwwfHx8fDE3MDYyMTAzMDV8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9; object-position: undefined undefined;"></figure><h3>History and evolution of the firm</h3><p>Mentorprise was established with the straightforward vision of matching candidates and vacancies. Within the framework of the early 1990’s, recruitment was a whole different ballgame. Over the years, Mentorprise has evolved to meet the changing demands of the business world, expanding its services from traditional executive search to encompass comprehensive talent management solutions and bridge management services. This evolution reflects the firms dedication to staying ahead of industry trends and providing clients with the tools they need to thrive in a competitive environment.</p><p><br></p><blockquote><p>As companies navigate digital transformation, sustainability, and diversity, the role of Executive Search will be more critical than ever—connecting organizations with leaders who not only meet today’s challenges but also shape the future. At Mentorprise, we believe that the future of executive search lies in our ability to blend technology with deep human insight, ensuring we deliver exceptional leaders who drive lasting impact.</p></blockquote><figure id="figure-zb746kinqm17hty0o" class=""><img id="zb746kinqm17hty0o" src="https://cdn.durable.co/blocks/23Ibnc6HEtnUBRpazugm0ujOu5sJ7vcXdcRLtQhBCRtl6Oiwrfbhgd3HHWhkF09f.png" alt="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" title="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/23Ibnc6HEtnUBRpazugm0ujOu5sJ7vcXdcRLtQhBCRtl6Oiwrfbhgd3HHWhkF09f.png" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p>—&nbsp;Marleen Smekens, Managing Partner at Mentorprise and President at ENEX</p><h3><br></h3><h3>Business Expertise and Services</h3><p><strong>Mentorprise excels in three core areas:</strong></p><p><strong>Executive Search</strong>: With a deep understanding of the market, Mentorprise identifies and recruits top-tier executives who are not only qualified but also culturally aligned with the client’s organization. The firm’s extensive network and rigorous assessment process ensure that only the best candidates are presented. <a href="https://mentorprise.be/Executive-Search/" data-mce-href="https://mentorprise.be/Executive-Search/">https://mentorprise.be/Executive-Search/</a>&nbsp; <br>&nbsp;</p><p><strong>Talent Management</strong>: Mentorprise offers tailored talent management solutions designed to develop and retain high-potential leaders. The Mentorprise approach is aligned with the vast Executive Search experience, and offers programs with focus on leadership development and performance management, helping organizations to build strong and impactful leadership environment. <a href="https://mentorprise.be/talent-management/" data-mce-href="https://mentorprise.be/talent-management/">https://mentorprise.be/talent-management/</a>&nbsp; <br>&nbsp;</p><h3>Learn more about our Emotional Intelligence hub here: &nbsp;<a href="https://mentorprise.be/emotional-intelligence/" data-mce-href="https://mentorprise.be/emotional-intelligence/">https://mentorprise.be/emotional-intelligence/</a> <br></h3><p><strong>Bridge Management</strong>: This service provides interim leadership solutions during periods of transition, such as mergers, acquisitions, or sudden executive departures. Mentorprise Bridge Management Experts are experienced leaders who can step in quickly to maintain stability and drive strategic initiatives. <a href="https://mentorprise.be/Bridge-Management/" data-mce-href="https://mentorprise.be/Bridge-Management/">https://mentorprise.be/Bridge-Management/</a>&nbsp; <br></p><p><br></p><blockquote><p>Our labour market is continuously experiencing significant shifts driven by technological advancements, demographic changes, and evolving work environments. In Belgium and the neighboring countries, &nbsp;we experience an ever growing importance of digital skills and remote work capabilities. These needs are still reshaping the talent landscape.</p></blockquote><figure id="figure-wdv75exvk9m17hy59l"><img id="wdv75exvk9m17hy59l" src="https://cdn.durable.co/blocks/28ucLyuyjRCqkrYJdfQlb2Pm1ovg0nwDM78I6yPQizsMTLi3G1FZi1WCEmoYHJMX.png" alt="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" title="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/28ucLyuyjRCqkrYJdfQlb2Pm1ovg0nwDM78I6yPQizsMTLi3G1FZi1WCEmoYHJMX.png" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p>— Jeroen De Maeyer, Partner at Mentorprise and CMO at ENEX</p><h3>The importance of being part of ENEX Global Executive Search<br></h3><p>Mentorprise has been part of the ENEX Global Executive Search network for 10 years now (2014), because we believe that global reach and local expertise are essential in today’s interconnected business world. Being part of ENEX allows us to tap into a vast network of trusted partners worldwide, enabling us to identify top talent across borders while maintaining the personalized, high-quality service that our clients expect.&nbsp;</p><p><br></p><blockquote><h3>The collaboration within ENEX strengthens our ability to deliver exceptional leaders who can thrive in diverse markets and drive international growth, ensuring our clients remain competitive on the global stage.</h3></blockquote><figure id="figure-ywrnk47rxm17i1ux4" class=""><img id="ywrnk47rxm17i1ux4" src="https://cdn.durable.co/blocks/1cugnOU9pizIVFQgGqUDEzTAqXTPEjhZqwvgI5qTMSl8aVgjoaBF2j9d2lha3zNM.png" alt="Business man's hand discovering business person with good ability" title="Business man's hand discovering business person with good ability" class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/1cugnOU9pizIVFQgGqUDEzTAqXTPEjhZqwvgI5qTMSl8aVgjoaBF2j9d2lha3zNM.png" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p>— Herman Dits, Managing Partner at Mentorprise and CFO at ENEX</p><p><br></p><p>Want to learn more? Go to <a href="https://www.mentorprise.be" data-mce-href="https://www.mentorprise.be">https://www.mentorprise.be</a> <br></p><p><br></p><figure id="figure-trx4aptqgjm17i6261"><iframe id="trx4aptqgjm17i6261" src="https://www.youtube.com/embed/25lkFJoDiuQ" class="w-full bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9;" allowfullscreen="" data-url="https://www.youtube.com/watch?v=25lkFJoDiuQ" data-corners="small" data-fullwidth="false" data-mce-src="https://www.youtube.com/embed/25lkFJoDiuQ" data-mce-style="aspect-ratio: 16/9;"></iframe></figure>

Partner Series | Belgium, at the center of Europe

<p>In our ongoing ENEX Partner series featuring our global firms and the people behind, we now turn our spotlight to HILL International Serbia. </p><p>This time, we have the pleasure of interviewing two esteemed colleagues. Together, Mina Jokic and Natasa Savic share their experiences, challenges, and the unique dynamics of the Serbian market.</p><figure id="figure-uvidwkfkdmm0ks45im" class=""><img id="uvidwkfkdmm0ks45im" src="https://cdn.durable.co/blocks/31teNAE8mUmIRJUvDQvpQkaapZZqma9D25cZJaBukS1mH1gd9gODaO67FY96S6eD.jpg" alt="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" title="Selective new career recruitment sites. recruiting with online technology. unemployment finding job search for resume register job interview, find your career" class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/31teNAE8mUmIRJUvDQvpQkaapZZqma9D25cZJaBukS1mH1gd9gODaO67FY96S6eD.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p><em>Natasa Savic</em></p><figure id="figure-s0ma8hdoz4m0ks6iw6"><img id="s0ma8hdoz4m0ks6iw6" src="https://cdn.durable.co/blocks/18oH2chzgjlq9G1mYQuziYuUCVdy0jjLFanA38IAHSewa3cXpKLtKwHf5Qff5LN7.jpg" alt="Worker Shortage" title="Worker Shortage" class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/18oH2chzgjlq9G1mYQuziYuUCVdy0jjLFanA38IAHSewa3cXpKLtKwHf5Qff5LN7.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p><em>Mina Jokic<br></em></p><h3>How would you describe the economic situation and the labour market in Serbia?</h3><p>Mina Jokic: In Serbia we are facing a turbulent and completely unpredictable economic situation impacted, among other, by a complex political environment. Furthermore, in the past years we have been witnessing a new wave of business migrations from Serbia to the EU and other countries, which has significantly affected the labour market and the availability of candidates from different branches and for different position levels. </p><p>The labour market in general is quite dynamic and is mirroring a wider global economic situation. The demand for experts in the IT industry, along with experts for Sales, HR and Finance, Accounting and Administration, and Technical experts was extremely high in the post-Covid period. This trend has affected other less prospective and popular industries in which companies had a difficult task of finding their way to keep employees and match their expectations with the high standards the IT industry and different outsourcing companies have set in the labour market. </p><p>On the other hand, in 2023 many layoffs and downsizing activities are being recorded in different branches including start-up IT companies. What we see now is a new movement and rebalancing of the workforce across different branches and a significant turn to lower demand for new employment in the labour market.</p><h3>What motivates employees to keep their job or move forward to the next company?&nbsp;</h3><p>Mina Jokic: From our extensive experience in working with candidates, they are primarily interested in a company culture that nurtures and encourages good interpersonal relations and appreciation of each employee's efforts, commitment, and contribution to common goals, along with employees' development and advancement opportunities and flexible working conditions. Of course, remuneration packages remain one of the main motivators, as we see the rising trend of private medical insurance policies becoming a very desirable, even expected, benefit from current or future employers.</p><h3>What does the HR development look like today?</h3><p>Natasa Savic: As it is already a fact that the recruitment of new employees is getting more and more challenging in the last years, employers have increased the attention they are paying to employees’ engagement and development. That way they are trying to keep the employees, reduce the need for new hires, and, of course, capitalize on the potential of the individuals already onboard.</p><p>International companies operating in Serbia already have a strong culture of development, which was visible since they came in larger numbers to the local market at the beginning of the century. However, they are continuously improving their plans as they face stronger competition from local, privately owned companies. Private companies in Serbia have also recognized not only the need, but the necessity of investment in the development of both their leadership teams and other structures, i.e. different positions and levels. In the last 3-5 years there has been a notably higher focus on specific needs and targeted development, as it was proved that „just a training“, without carefully tailoring it to fit the needs of the company and the participants, does not produce the intended results - on the contrary, it diminishes the motivation, both for the company itself and for training as a development tool in general.</p><p>Skills development has become a regular part of the annual progress plan, while individual coaching, talent development, succession planning, and assessments are strongly paving the road to becoming a standard in HR planning i.e. development. Even though it should always start from the top, in many cases organizations start from the middle, investing in their mid-management and specialists. Changes on this level are, however, in many cases, hindered by exactly the missing support, skills, and mindsets at the very top of the organizations.</p><h3>Where to start when talking about top management development?</h3><p>Natasa Savic: Serbian leaders are excellent in many areas, but they still have things to learn or re-learn in a few areas. Gathering insights directly from the companies we work with, we clearly see the highest need is in understanding the importance of transparency, especially when it comes to the decisions they make, but also in provoking constructive and managing destructive conflicts. Their communication and practice must also improve in the areas of running regular and quality dialogue and mutual feedback with the employees as well as in practicing real coaching conversations that enable development.</p><p>Only when these areas are improved, leaders will be able to create real high-performing teams, that are joining efforts in reaching common goals, while feeling great and with the motivation that comes from within.</p><h3>How do you think the use of AI and new technologies/media will continue to change personnel search and selection processes?</h3><p>Mina Jokic: I see AI and new technologies as useful tools for automation and facilitation of some parts of recruitment processes, especially in the search part. Still, the human factor and approach will always be, I would say, necessary for performing in-depth assessment processes and for summing up findings and recommendations.</p><h3>As HILL International in your country, what is your contribution to making companies more successful?</h3><p>Mina Jokic: We at HILL always go the extra mile in understanding and supporting our clients, being committed to bringing the best possible results and overcoming every obstacle in the process. Good business relations and mutual understanding with our partners in combination with our profound knowledge and experience in HR consulting are key elements of our formula for success.</p><p><br></p><p>Want to learn more? Go to https://www.hill-international.com</p><figure id="figure-rhocdm2empm0ks8dfe"><img id="rhocdm2empm0ks8dfe" src="https://cdn.durable.co/blocks/22DZVwOYPBUHQHqiG5vDXA8CPdjl0mYVSGQbZqcoJfS8RgkRWwSX3gW0pyyYL4iF.png" alt="Data analysis of document ai artificial intelligence process with technology processor to planning business information data, tech, network corporate concept." title="Data analysis of document ai artificial intelligence process with technology processor to planning business information data, tech, network corporate concept." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="" data-positionX="undefined" data-positionY="undefined" data-fullWidth="false"/></figure>

Partner Series | Serbia, labor Market and HR Trends

<p>The hiring outlook for the U.S. and Canada in 2025 is expected to be shaped by several key factors, reflecting broader economic conditions and labor market trends in both countries.</p><h3><strong>United States:</strong></h3><p>Continued Labor Market Tightness: The U.S. labor market is projected to remain tight in 2025, with unemployment rates hovering near historic lows. This will likely result in increased competition for talent, particularly in high-demand sectors like technology, healthcare, and finance.</p><p><strong>Wage Growth:</strong> Wage growth is expected to continue, driven by the ongoing competition for skilled workers and the inflationary pressures experienced in the previous years. Employers may need to offer higher salaries and more comprehensive benefits to attract and retain employees.</p><p><strong>Remote Work and Flexibility</strong>: The shift towards remote work, which accelerated during the COVID-19 pandemic, will likely persist. Companies will increasingly offer flexible work arrangements as a standard part of their employment packages, with hybrid models becoming more prevalent.</p><p><strong>Skills Gap: </strong>There is expected to be a continued focus on upskilling and reskilling initiatives, as the gap between the skills employers need and those available in the labor market remains a significant challenge. Sectors such as technology, cybersecurity, and green energy are likely to drive demand for new skills.</p><h3><strong>Canada:</strong></h3><p><br>Economic Recovery and Growth: Canada’s economy is projected to grow modestly, supporting steady job creation across various sectors. The employment rate is expected to improve as economic conditions stabilize post-pandemic.</p><p><br><strong>Sectoral Shifts: </strong>Similar to the U.S., Canada will see significant job growth in sectors such as technology, healthcare, and clean energy. However, traditional sectors like manufacturing and natural resources may experience slower growth due to automation and the shift towards a low-carbon economy.</p><p><strong>Immigration as a Key Driver: </strong>Canada’s reliance on immigration to fuel labor market growth will continue, with policies likely supporting higher immigration targets to meet workforce demands. This influx of skilled workers will be crucial in addressing labor shortages in key industries.<br></p><p><strong>Demographic Challenges: </strong>An aging population will present challenges for Canada’s labor market, particularly in healthcare and other services that cater to older adults. This will necessitate strategic workforce planning to ensure adequate staffing levels in these areas.</p><p><br>Overall, both the U.S. and Canada are expected to experience steady but moderate hiring growth in 2025, driven by economic recovery, sectoral shifts, and evolving workforce expectations. However, challenges such as skill shortages, wage inflation, and demographic changes will require proactive strategies from employers to navigate successfully.</p>

Hiring Trends for US and Canada: What to Expect in 2025

<p>Welcome to our ENEX Partner series, where we introduce our global Partner firms and the people behind the organisations. Today we introduce to you the HILL International office in Hungary.</p><p>Eszter Tompos-Nagy, a Consultant at HILL International Hungary, provides us with fascinating insights into her work and the unique aspects of the Hungarian market.</p><figure id="figure-t2zy9zdrgm0krl22u"><img id="t2zy9zdrgm0krl22u" src="https://cdn.durable.co/blocks/126IK4eznbU5MydaIf29o16du5Zt8O6hQif0RytdZ3PcuaRsdPFRSpuoheSqnPUF.jpg" alt="Wooden dolls and magnifying glass." title="Wooden dolls and magnifying glass." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/126IK4eznbU5MydaIf29o16du5Zt8O6hQif0RytdZ3PcuaRsdPFRSpuoheSqnPUF.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p>HILL International Hungary is founded in 1990 and has followed the events of the labor market throughout the past 34 years. We would like to give a snapshot of the current situation, viewing the economic environment, and how it affects the employment and recruitment process. In the past years, many changes were noted – an example is a decreasing unemployment tendency – but there is still an unequal work distribution looking at the different parts of Hungary. </p><p>For this article we asked HILL Hungary’s Consultant, Eszter Tompos-Nagy to give us practical insight into Hungary's current labour market and economy. <br></p><h3>How would you describe the current economic situation and the labor market in Hungary?</h3><p>Eszter: According to the Central Statistical Office of Hungary (KSH), the unemployment rate is at its lowest nowadays. From a number of 11%, which was experienced in 2010, it has decreased to 4,5%. Next to this, employment has increased by 13,000 headcounts compared to last year, which strengthens the positive trend. </p><p>The salaries have increased in the past year and are now at an average gross salary of 600 000 HUF (1500 EUR) in Hungary, but the inflation is also catching up quickly. Regarding the employment trends of companies, when 300 CEOs were asked, 36% of them estimated a growth in employment for the upcoming year, according to an article in HR Portal. </p><p>On the other hand, according to the Hungarian National Bank’s report of the past 7 years, a zero-point increase (about equal increase and decrease in employment) was observed in various industries of Hungary (indicated in the chart below). From our personal experience, out of 100 companies, about 90 are relying on inner resources for recruitment or have cost containments at the moment.</p><figure id="figure-bizqiltdpom0krm4qn"><img id="bizqiltdpom0krm4qn" src="https://cdn.durable.co/blocks/1cZbTi5dst9fiGziM96lcePw2760ITvpRbSZX8A1Z6QUNg8CkOdYBfdtTuvu82cy.png" alt="Worker Shortage" title="Worker Shortage" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/1cZbTi5dst9fiGziM96lcePw2760ITvpRbSZX8A1Z6QUNg8CkOdYBfdtTuvu82cy.png" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><h3>What are the unique characteristics of the labor market in your country that distinguish it from the others?&nbsp;</h3><p><br>Eszter: Hungary has a strong agricultural profile among the countries of Europe. A top 100 list of companies with Hungarian ownership was published recently, where the majority have either an agricultural, or food-processing and manufacturing profile. The companies that are eagerly settling in Hungary are car manufacturers. </p><p>Mercedes Benz, as well as BMW are making huge developments in the country currently. Hungary is also home to many SSCs of multinational companies. The other resources that Hungary is rich in, are historical and natural sights, thus the tourism and hospitality industry is also prosperous, especially in the countryside. And, as one of the industries that are prospering worldwide, IT companies are also prevalent here. Their gaining of ground can be found also in hospitality, through online booking systems which are popular among guests.</p><figure id="figure-uwp9c2unzlm0krmz85"><img id="uwp9c2unzlm0krmz85" src="https://cdn.durable.co/blocks/3aRGdSr9tP0jcgnyN4GP1CjUKiAgnJ4j5v6E9s9m5IXRZo6m2NBvMlGa4sa6mgQ5.jpg" alt="Digital Business global leadership to strategy planning and development financial and banking marketing concept. Businessman holding virtual world  earth to management of business." title="Digital Business global leadership to strategy planning and development financial and banking marketing concept. Businessman holding virtual world  earth to management of business." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/3aRGdSr9tP0jcgnyN4GP1CjUKiAgnJ4j5v6E9s9m5IXRZo6m2NBvMlGa4sa6mgQ5.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><h3>In which sectors or regions do you currently see the greatest threats/difficulties?&nbsp;</h3><p>Eszter: South and North Hungary have the highest ratio of residual employees, however, the area that is lacking the most employees is North-Western Hungary, which takes a contradictory picture. The ratio of the non-working society, the ones who omit from the educational and working system, is around 9,8%, and most of them are the younger generation. Next to this, another threat to Hungary is the increasing ratio of the retired community, which are members of the “baby boom” generation. By 2030, 300,000 of the currently employed will retire, leaving a big weight on the shoulders of the younger generation. One solution for this could be to begin to integrate the non-working population with part-time positions, thus including them in the blood circulation of the workforce.</p><h3>What can be said about the leaders of Hungary, is there something remarkable about their personality?</h3><p><br>Eszter: In the way they manage their companies, leaders and CEOs are different. However, what we notice with each of our clients is that they are all strong-willed individuals. This makes the collaboration either very smooth – when there is mutual understanding – or quite difficult, which results in longer projects – see an example below. If a company would like to stand their ground nowadays, strong will is a must, because there is huge competition for the resources – meaning employees, as well as material resources.</p><h3>What do you think will be the biggest challenge in managing people in 2025, and how can AI influence the recruitment process?</h3><p>Eszter: In Hungary, one of the biggest challenges is that the ratio of employees doing simple jobs is the 2nd highest in the EU, which brings us a lot of uneducated workforce. This is an advantage from the view of manufacturing companies, where a lot of shift work should be done. On the other hand, out of 300 CEOs, about 144 (48%) complained about the lack of an educated workforce. </p><p>AI technologies can help find good quality candidates, however, they don’t necessarily find all of the best quality options. According to Forbes, the “invisible workforce”, i. e. passive job seekers, who are not active on social platforms, may be overlooked by AI search engines. Despite this fact, many multinationals use platforms like HireVue, Datapeople, or ChatGPT. (For executive recruitment, the roles of human-driven ACs and interviews are still important). From our consultancy experience, it is also true, that sometimes only a human eye can spot the sensitive details in a candidate’s profile, which can make them perfect for the job. The same position can be found with various names on social platforms.</p><p>Forbes also talks about an extreme candidate-company mismatch that is experienced in the Hungarian market, because well-educated candidates are becoming rare to find, and on the other hand, companies don’t offer very high wages. This is somewhat a surprising situation, as this year job seekers risen by 20% compared to the year before.</p><h3>What can be said about the length and success rate of search &amp; selection projects nowadays, introduced also through concrete examples?&nbsp;</h3><p>Eszter: We have projects, where the match is created fast (within 4-6 weeks), because we have an extensive candidate database, and we have the professional knowledge to find good quality candidates. A challenge however, that we face more and more is the mismatch, mentioned above, as sometimes our clients, have a certain picture in their mind about the ideal employee, and only a few candidates fall into that category. Finding these special candidates may take 4-6 months even. We also have had executive search projects, where after a long recruitment process, the client decided to fill the position with inside resources.&nbsp;</p><p>Many companies are putting inside resources to recruit candidates, however, in many cases, they fail to find the best quality and most importantly – trustful – candidates, who can be counted on in the long-term. Experience shows, that finding that kind of candidate, the professional eye of a consultant is often needed.</p><figure id="figure-3bhbqm00ylm0krnq91"><img id="3bhbqm00ylm0krnq91" src="https://cdn.durable.co/blocks/27FCpnPGWXCvYX7MCwYwmOqA3ZrYuLiGqKPYYvYiEpHrOooR619ybcwo3kJiA9Mz.jpg" alt="Recruiting and hiring the right people, human resource management concept. HR professionals identify the best candidates, ensure they meet job requirements and select the best talent." title="Recruiting and hiring the right people, human resource management concept. HR professionals identify the best candidates, ensure they meet job requirements and select the best talent." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/27FCpnPGWXCvYX7MCwYwmOqA3ZrYuLiGqKPYYvYiEpHrOooR619ybcwo3kJiA9Mz.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><h3>As HILL International in your country, what is your contribution to making companies more successful? &nbsp;</h3><p>Eszter: At HILL International Hungary our goal is thus to keep providing high-quality services where we can serve our clients the best ways and to take the weight off their shoulders to do the extensive work themselves. We believe that there is a stable foundation in our professionalism that we can build on, even if the economic situation brings us challenges. We can turn difficulties into possibilities, all we need is a professional eye that creates and organizes resources, so that the least time goes wasted.</p><p><br></p><p>Want to learn more? Go to <a href="https://www.hill-international.com" data-mce-href="https://www.hill-international.com">https://www.hill-international.com</a><br data-mce-bogus="1"></p><p><br></p><p><br></p><figure id="figure-61epxkpp32m0kro753"data-full-width><img id="61epxkpp32m0kro753" src="https://cdn.durable.co/blocks/22DZVwOYPBUHQHqiG5vDXA8CPdjl0mYVSGQbZqcoJfS8RgkRWwSX3gW0pyyYL4iF.png" alt="Missing Employees" title="Missing Employees" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: 50% 50%;" data-corners="default" data-aspect="16:9" data-caption="" data-positionX="50%" data-positionY="50%" data-fullWidth="true"/></figure>

Partner Series | Hungary, a country of possibilities or difficulties?

person in black long sleeve shirt holding persons hand

<h2>Understanding Personalized Candidate Experience</h2><p>In executive search, managing the candidate experience is crucial. A personalized approach can make a significant difference. It helps candidates feel valued and respected. This, in turn, can lead to better outcomes for both the candidate and the hiring company.</p><p>Personalization in candidate experience means tailoring the process to meet the needs and preferences of each individual. This involves understanding their career goals, skills, and personal circumstances. By doing so, we can provide a more engaging and supportive experience.</p><p>This can lead to higher satisfaction and better retention rates.</p><p>Moreover, a personalized experience can enhance the reputation of the executive search firm. It shows that the firm values its candidates and is committed to their success. This can attract more high-quality candidates in the future.</p><h3>Steps to Personalize the Candidate Experience</h3><p>There are several steps we can take to personalize the candidate experience. Here are some key strategies:</p><ol><li><strong>Understand the Candidate:</strong> Take the time to learn about the candidate's background, skills, and career goals.</li><li><strong>Tailor Communication:</strong> Use personalized messages and updates. Avoid generic templates.</li><li><strong>Provide Support:</strong> Offer resources and guidance tailored to the candidate's needs.</li></ol><p>Additionally, AI and machine learning can help identify patterns and preferences. This can further enhance the personalization process. However, it's important to balance technology with a human touch. Personalized experiences should feel genuine and not automated.</p><h2>Challenges in Personalization</h2><p>While personalization has many benefits, it also comes with challenges. One of the main challenges is the time and effort required. Personalizing the candidate experience can be time-consuming. It requires a deep understanding of each candidate.</p><p>Another challenge is maintaining consistency. It's important to ensure that all candidates receive a high level of personalization. This can be difficult, especially in large-scale executive search processes.</p><figure id="figure-aavpa46fgbm0aqt4o9"><img id="aavpa46fgbm0aqt4o9" src="https://images.unsplash.com/photo-1552345387-b54624b477d7?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxfHxjbGllbnR8ZW58MHx8fHwxNzI1NDMwNjg5fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="people doing body gestures" title="people doing body gestures" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="null" data-positiony="null" data-fullwidth="false" data-mce-src="https://images.unsplash.com/photo-1552345387-b54624b477d7?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxfHxjbGllbnR8ZW58MHx8fHwxNzI1NDMwNjg5fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><p>Additionally, tracking metrics like application completion rates and candidate retention can help assess the impact of personalization. These metrics can provide a clear picture of what is working and what needs improvement.</p><h2>Conclusion</h2><p>Managing personalized candidate experiences in executive search is essential. It requires a commitment to understanding and meeting the unique needs of each candidate. By doing so, we can create a more engaging and supportive process.</p><p>Personalization can lead to better outcomes for both candidates and hiring companies. It enhances satisfaction, retention, and the overall reputation of the executive search firm. While it comes with challenges, the benefits make it a worthwhile investment.</p>

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