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Economic Crisis has had a Crucial Impact on the Human Resources Segment

Labor market today depends a lot on the complicated circumstances which exist for the employers. In turn, their condition is defined by general economic processes in Russia. So, for example, the tourism sector has shrunk a lot this year. As a consequence, it is much harder to find a job in tourism than it was a year or two years ago.

HR-market has turned out to be dependent on the condition of the employers who are facing the crisis. The worst situation is one of the enterprises that had considerable debts (credits and mortgages) because higher interest rates have diminished profits, and the same effect is caused by the rise in raw material prices and, on the other hand, by the consumer’s market reduction. These enterprises are now beginning to optimize their expensive – and, above all, the personnel costs.

As a result, a lot of companies reduce their staff and cut salaries. Some employees are meanwhile outstaffed. In this sense outsourcing is becoming more demanded than before. So, for example, it’s more reasonable to contact the HR-agency and manage office and territory cleaning through outsourcing. This helps to optimize tax payment in terms of the salary segment.

We must also mention that salary expenses reduction is the only opportunity to save business. It is obvious that HR-services, accountancy, juridical support and other processes which do not refer directly to production or specific services of the company will be generally outsourced.