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.

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