Foreign Managers Flee to Russia from Eurozone Crisis

The number of resumes being submitted to Russian recruitment agencies has increased sharply in recent years, as the European debt crisis has dampened the economies of the eurozone, Kommersant business daily reported on Monday quoting experts.

The number of the expat resumes grew 11 percent last year compared to the 2010 level and is higher than the pre-crisis 2007 level, Yuri Virovets, head of Russia’s HeadHunter recruiting agency, told the paper.

There is a clear trend for expats to turn to Russia, mostly from Europe rather than from the U.S. and Canada. International specialists are still interested in positions in the oil and gas industry, and especially in investment and private banking sectors, Andrew Kamnev, head of the business development department in Brainpower CIS, said.

European managers are being forced to expand the geographic range of their job searches as well as to consider middle-level positions amid further stagnation of the European labor market and general economic instability, the experts said.

“It is common now when a foreigner bids for such positions as mid-level marketing director or manager of any department, whereas 7-9 years ago people came from abroad mostly to run or develop global business,” Kelly Services General Director Yekaterina Gorokhova told Kommersant.

The experts unanimously said that Russia was still an attractive employment destination for international specialists despite wages not being as high as in the pre-crisis years.


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