Optimism in the Labor Trends for 2017

Wednesday, 26/07/2017

According to the Recruitment Confidence Index (RCI) which is conducted annually, by the Applied Research & Innovation Department of ALBA Graduate Business School at American College of Greece, there will be a slight increase in the recruiting activities in the Greek labor market in 2017, since there is an increase to the index compared to previous years. The Index is currently 115.80 and it is close to the levels of 2007.

The main objective of the survey is to explore the perceptions and trends of companies regarding their recruitment processes and methodologies until the end of the year. 

The RCI 2017 was conducted in February-June 2017 with the support of Kariera.gr.

More than 1.700 invitations were sent to HR departments, Recruitment and Selection Managers, CEOs, etc. of Greek companies.

The main findings of the survey can be summarized as follows:

  1. Only the 18.8% of the companies are expected to reduce the number of their employees until the end of 2017, while 47.8% of the respondents expect to increase salaries the following months up to 3% months. 44.3% will proceed with recruiting new employees.
  2. Although the financial crisis has affected most of the companies, companies feel mainly optimistic for their future, however, the optimism has slightly decreased since last year.
  3. The industry sectors that are expected to increase their recruiting activities more than 50% until the end of 2017 are: the Telecommunications/Software development sector, Services and Transportation/Logistics.
  4. Recruiting junior young graduates is priority to the companies (35.4%).
  5. Companies that will employee new personnel will mostly search for Sales, finance, customer service employees and IT executives.
  6. 71.9% of the companies admitted that laid off people the last 7 years. 61.4% of the companies says that these reductions were based exclusively on employees’ performance appraisal. One out of two companies explored alternative ways of employment such as part-time or tried to help the employee by r providing references to other companies. Only 27.1% of the companies offered outplacement services, while the 37.9% of the companies reduced positions in the company regardless of employees’ performance.

You may find and download the complete report with the results of the survey, as well as the extra survey analysis: "How to build Trust in the Workplace" here.

The report is in Greek only.

For more information on the survey please contact Mr. Aristotelis Alexopoulos at aalexopo@alba.edu.gr or 210 8964531.