Minsk, Belarus – Lola Trapsh, Country Manager for Belarus at Pedersen & Partners, a leading international Executive Search firm that operates in 56 wholly owned offices in 52 countries, gives her expert insights into the realities of the employment situation in Belarus.
“You know, our country is now seeing a 1.1% unemployment rate, which is a relatively low percentage,” states Ms. Trapsh. “In other countries with different economic models, a 5% unemployment rate is considered normal. So we need to get used to the fact that competition in the labour market is high, and that’s why finding a new job is becoming more difficult. Employers now have a wider talent pool to choose from, and they will definitely use this opportunity.
I also want to highlight that although there is an increasing number of applicants for each position, their overall level of professionalism has not changed. However, now you can see many candidates, including senior managers, becoming more focused on gaining an additional competitive edge, such as an MBA. Moreover, I think that these turbulent times have had a disciplining effect on the market, with the effect that job seekers strive to enhance their skills while employees try to hold on to their jobs. This tendency will allow companies to be more confident in their future success, to plan their activities carefully and develop their potential – which is great news for all of us as market participants.
It is not useful or helpful to make predictions right now, but I can say one thing: As a foreign company, we are noticing an increased interest in the Belarusian market from other international players that are not yet represented in our country. It seems highly probable that this is the effect of the lifting of sanctions, as the large European corporations have long suspected. Of course, I believe that the labour market will start to realign in favour of the jobseekers and employees. It will be an interesting time, with a wave of applicants who are more confident and more professional – eager to put their new education to use. And then, of course, the real battle for talent will start!”
Pedersen & Partners is one of the fastest-growing, fully integrated Executive Search firms worldwide; it is 100% owned by its partners who all work full-time to serve its clients. The firm celebrated its 15th anniversary in January 2016, and to mark this occasion, it has created a timeline web page, featuring key milestones for the firm’s development and has released an anniversary video.
Lola Trapsh is the Country Manager for Belarus at Pedersen & Partners. Before joining the firm in 2010, Ms. Trapsh built a strong career working on both the HR Management and Executive Search functions in various senior level positions. Prior to joining the firm, she was the Director of another Executive Search firm in Belarus.
Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com
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