Stanton Chase Newswire May 2014

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Welcome to the the third annual newsletter of Stanton Chase Sofia. We discuss current trends in talent acquisition and development, we give you the point of view of our clients and long-term partners and we share how we do it - by being a team.

Transcript of Stanton Chase Newswire May 2014

  • Stanton Chase Bulgaria Newsletter! Your leadership partner, recognized for exceptional results around the globe MAY 2014 Welcome to the third edition of On the following pages you can read: Page 2-3: Consumer Products and Services practice group Page 4-5: Financial Services practice group Page 6-7: Technology practice group Page 8-9: Life Sciences & Healthcare practice group Page 10-11: Industrial practice group Page 12: Mission Possible event review Page 13: Global information from AESC Page 14: Stanton Chase Bulgaria news Dear readers, after some difficult years of economic crisis and stagnation, for the first time since 2008, both in the world economy and in Bulgaria, there are some positive signs of growth. The 2014 forecasts of many respected institutions are expecting Bulgarian GDP to grow grow between 1,5 and 2 %. Our observations show the need for talents in all economic sectors has started to increase. At the same time, although there is still high level of unemployment in Bulgaria (above 11 %), many companies are trying to identify the professionals with the right expertise and competencies for all levels in their organization the ones who have the functional knowledge, the behavioral attitude and the drive to help use the market potential, to achieve business goals, to serve clients better and, last but not least, to be profitable. The importance of technologies in terms of business processes and models and in terms of new competencies for all functions and levels is growing all the time. All these factors urge companies to be demanding when they attract and develop top and middle management personnel, and to adjust their training and development programs so as to make sure that employees have the necessary set of skills. Herewith in this newsletter weve tried to summarize global and local trends in executive search. We also asked professionals from different sectors to share the challenges their companies face in terms of business environment and in terms of talent mapping and retention. We hope and believe you will find the information useful. Enjoy your reading! Sincerely Yours, Darina Peneva www.stantonchase.com
  • Your leadership partner, recognized for exceptional results around the globe MAY 2014 Talented War in Consumer Product and Services companies Yuliana Popova, Research Associate Irina Andonova, Senior Consultant www.stantonchase.com 2 Recently, consumer product and services businesses in Bulgaria are passing through some dynamic changes, among which: continued transformations in large multinationals; acquisition of the production operations of a major dairy manufacturer; acquisitions of the local operations of food and DIY multinational retailers by Bulgarian businessmen; solid transformation and leadership change in the largest media group in Bulgaria. At the same time, professionals in the sector are willing to consider joining another employer, though not by all means career development opportunities remain a major driver. Employers, on the other hand, are in constant pursuit of high caliber professionals either for their immediate needs, or, sometimes, within the largest multinationals for filling the talent pipelines in their organizations. A general tendency we observe is that multinational/international FMCG companies in Bulgaria, together with established local ones, continue to look for ready-now professionals with vivid interest and strong motivation in joining their particular organization. In some cases the expectations towards newly acquired talents are that they will not require extensive on-boarding efforts and will add valuefaster than the wind. Roles on demand commercial managers on top and middle management level young engineers with experience in leading teams and project management skills proven experts in export operations human resources professionals with holistic approach and ability to act as business partners experts with digital marketing background
  • and the opportunities to grow in the organization. In this regard, expectations of the representatives of the so called Y generation are very much related to the opportunities for a really fast career progress. They look for interesting dynamic roles with both functional focus and good remuneration package. The majority of candidates who are under 30 would like to grow from an expert role to a middle/senior management position within 2-3 years. At the same time these well-educated young talents are much more mobile within the country and are willing to relocate to Stara Zagora so as to be where the brewing process actually happens and the entire supply chain can be literally observed. According to your observations which are the major competencies that lack on the market? It seems that the majority of professionals on the labor market are much more focused on developing their functional competencies rather than their leadership skills. In general we observe a lack of business awareness and initiative. We invest efforts in developing the leadership and people manage- ment capabilities of newcomers at middle manage- ment level, no matter whether they are internally promoted or they come from other companies. At Zagorka we design and deliver specially developed leadership programs, recognized as best practices within the Heineken world. Programs oriented to Sales Representatives and Operators prepare high potentials for the next level Unit and Shift Manag- ers. Programs for middle management positions ensure a consistent approach in developing and leading people and teams at Zagorka. Actually, as a result currently there are no turnover or retention issues to deal with in the organization. Your leadership partner, recognized for exceptional results around the globe MAY 2014 Tendencies in the industry, shared by Stanton Chase discusses tendencies on the labor market with Victoria Chorbadzhiyska, HR Business Partner Supply Chain and Finance at Heineken Zagorka and Emil Georgiev, HR Business Partner Commerce. What are the must have requirements towards professionals who join Zagorka SA? Functional expertise is a key requirement but our business also demands drive, enthusiasm and innovation, no matter whether we search for an expert role or a managerial position. We definitely look for open-minded people who share common values such as courage, passion for quality, respect for individuals, society and the planet. We welcome professionals willing to understand how their everyday work isrelated to the entire business and to deliver accordingly. We strive for increasing efficiency and fostering sales in all business functions. Therefore we need people who could quickly understand the business specifics and would actively contribute to achieving our companys results. People who can work independently and can cooperate and align with the other business functions. What are the main motives of executives for joining Zagorka SA? The motives are complex. In general it is the companys image and its sustainable business results that attract candidates. In addition, a safe job is much more valued in the country in comparison to the capital where candidatesare attracted by the unique corporate culture Victoria Chorbadzhiyska, HR Business Partner Emil Georgiev, HR Business Partner Commerce. www.stantonchase.com 3
  • The state of the financial services sector reflects, in general, the economic situation in the country since it is closely related to all other industries. In 2013 Bulgaria had a relatively stable and profitable banking system with increasing volume of deposits. At the same time, investors were conservative and direct foreign investments continue to decrease. In March 2014 the volume of deposits reported was 38, 5 billion BGN (50 % from the GDP and the highest for the last several years) while the volume of credits, both for corporate clients and consumers, was decreasing. Interestingly enough, the market share of non-banking credit institutions (providing the so called fast loans) continues to grow: they already have an exposition of app. 2 billion BGN. Considering all the above, we observe the need for the following essential expertise in finance institu- tions: risk management, collection management (both soft and hard collection), NPL management expertise, as well as information management, client segmentation and business intelligence, based on advanced IT platforms. Your leadership partner, recognized for exceptional results around the globe MAY 2014 www.stantonchase.com 4 Finance sector: Challenges and changes Darina Peneva and Elena Rusanova As for the insurance sector, still almost 70 % of the business is generated by motor insurance products. More than half of the companies in the sector (60 %) reported better financial results in 2013 compared to 2012. This seems to be related to strong know-how and expertise in sales, busi- ness development and agency management on the one hand, and efficient claims management, on the other. Overall analyses and forecasts for the financial services sector do not promise any signs of significant changes for 2014. Still some mergers/ acquisitions might be expected within the banking industry. Last but not least, both banks and non-banking credit institutions are already facing severe legislation changes, especially in terms of consumer loan regulations, which will affect their business.
  • Your leadership partner, recognized for exceptional results around the globe MAY 2014 Tendencies in the industry, shared by What are the challenges today for the banks in Bulgaria? The biggest challenge is to bring back the trust in the commercial banks after the biggest financial crises in