Almost a half of Russian companies don’t believe in a ‘double dip’ recession


47% of companies operating in Russia are sure that there won't be a 'double dip' economic recession in 2012. Such results were obtained during a survey held by executive recruitment company Antal Russia, amongst 300 companies.

Almost half of all respondents have said that their company doesn’t expect a repeat of the economic slump in 2008. They have assured that their companies are predicting the further growth.

However 18% did mention that they are concerned about a new recession and are taking measures to prepare for it. The most popular steps which this group has mentioned are a more thorough cost saving policy, organizational structure optimization, business diversification, setting competitive prices and client service improvement.

Nearly a third of the companies surveyed by Antal Russia said that they are expecting a new recession (even in a mild form), but are not reacting to it in any way.

“Companies operating in Russia modified their strategies significantly during 2008-2009 downturn which explains why the majority of those who are expecting a ‘double dip’ recession are not taking any measures. From a recruiter’s point of view, stable demand for managerial staff could be noticeable. However employers are becoming more cautious when hiring new employees”, says Michael Germershausen, Antal Russia's Managing Director.

Back to the list