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Overall score

Score by Indicator

5.9
in 2016 5.9
0 2.5 5 7.5 10

Key drivers

Labour market flexibility

The inflexibility of Russia’s labour market is making it difficult for businesses to manage their workforces as it is harder to hire the talent needed.

Talent mismatch

A slight fall in the rate of long-term unemployment contributed to the decline in the talent mismatch indicator.

Wage pressure in high-skill industries

There has been a recent narrowing of the gap between wages in high- and lower-skill sectors in Russia.

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COUNTRY OVERVIEW

View from the ground

Alexey Shteingardt, Managing Director, Hays Russia

During the year, expectations for businesses with regard to sanctions being lifted weren’t delivered; instead a further series of limitations made the situation even more severe. Despite this, companies have learnt to transform barriers into opportunities. This has translated into hiring activity, a decrease in the unemployment rate and overall stabilisation of the labour market. The coming years won’t be easy either. The reason for this is a lack of relevant educational programmes, an ageing working population and a lack of high-skilled professionals. To ease there negative trends, the Russian Government proposes to prolong the retirement age, to reform the educational system and to introduce digital record books for employees. Businesses in turn are trying to attract regional workers via relocation programmes and are investing in training.

Alexey Shteingardt, Managing Director, Hays Russia

Country Profile

The Russian economy shrank in each of the last two years, but is expected to begin to recover this year. This will likely increase labour demand.

However, businesses looking to expand and attract highly-skilled workers face a declining working age population. The number of people between the ages of 15 and 64 are forecast by the UN to fall by 5 per cent in the five years between 2015 and 2020. An expected rise in labour force participation rates in 2017, to just over 77 per cent, will partially offset this decline.

Key skills in demand

  • Big data specialists
  • Heads of international sanctions in compliance departments
  • Regulatory managers
  • Design engineers
  • Sales and product managers

News and Press Materials

Alexey Shteingardt, Managing Director, Hays Russia