Stanton chase newsletter bulgaria


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Stanton chase newsletter bulgaria

  1. 1. STANTON CHASE SOFIA NEWSLETTER JUNE 2012Welcome to our first local newswire! Darina Peneva, A BlueSteps report for 2011 states that 58% Managing Director of the executives surveyed worldwide believe competition for executive level jobs has increased, changing to an extent where younger and out of We started our business work executives are included as well. six years ago and we can already say we had the The same report shares the findings that senior executives continue to believe that working for 3 strange luck to live through organizations in a ten-year period is the maximum to times that convinced the remain credible (around 80 % of the respondents). world nothing will come back the way that we It also identifies a slight decline in executives’ knew it. And this is great! willingness to relocate internationally for a careerIndustries change, new professions appear in the blink opportunity. Relocating family remains the biggestof an eye and true professionals become more and more concern about relocation.valued. In order to attract and retain these professionalsand develop talents within organizations, companies According to a recent report by Birkmanneed influential leaders with entrepreneurial approach International and Stanton Chase, the most criticalin search of alternative solutions. The economic leadership competency sought after is the ability toenvironment and decreasing business volumes demand manage change (for 41 % of the respondents).better and more adequate identification of customers’needs in order to create new market niches. And finally, when back in 2010, eight hundred managers worldwide were asked whether they would considerWe would like to share with you some interesting global working fewer hours if this meant a proportionate decreasetrends we feel are relevant for our otherwise specific in earnings, two thirds replied that they would not considerlocal market. We will leave it to you to discover how they such a reduction, even if it meant a better lifestyle. We arecorrespond to findings from our CEO survey (p. 6). wondering is this how you feel now, in 2012. Pharmaceutical companies welcome professionals from other industriesLife Science and Healthcared.peneva@stantonchase.comAccording to data by IMS Bulgaria, pharmacy market in further increase in sales. We observe the development of thethe country is expected to grow with 10 % in 2012. During following two new roles – product specialists and market2011 sales grew with 12.4 %, food supplements marking access managers. Product specialists are an intermediate levelthe biggest growth, followed by OTC drugs. This data helps between medical representatives and product managers.illustrate the growing need for professionals from other Market access managers are mostly needed in companies thatindustries, especially FMCG, in pharmaceutical companies. produce original and innovative drugs and their main focus isOur successful placements in this sector prove that experience work with all stake holders so as to gain new drugs access toin the sales, marketing and supply chain functions in FMCG the market.companies is rather valuable when it comes to reaching 1
  2. 2. STANTON CHASE SOFIA NEWSLETTER JUNE 2012FMCG managers are interested inConsumer Products and Services career changei.andonova@stantonchase.comToday FMCG companies in Bulgaria focus mainly on insights, digital marketing, market analyses, etc.)internal processes, related to optimization, on the are often key for these hand, and elaboration of strategies and tactics, Our observations show that managers from theon the other, in order to maintain their business CPS industry are often willing to change a decreasing market. Excellence programs are There is strong interest in further career growth inintroduced to ensure processes improvement and pharmaceutical companies and organizations withbusiness sustainability through implementation of unrevealed potential (e.g. multinational companiesglobal and regional best practices. There is a growing specialized in consumer electronics, Bulgariandemand for project management, networking and FMCG manufacturers, etc.). However,influencing skills, as well as creativity, resilience and potential candidates are likely todrive. take the step only if companiesSince non-specific processes are usually outsourced are consistent in talent(route-to-market approach), recruitment for acquisitionfunctions not directly related to manufacturing and retentionand sales has been slowing down currently. and deliver onHowever, there is a demand for sales and marketing corporate socialprofessionals. Experience in category management responsibilityand rare expert analytical expertise (consumer commitments.The local team Irina Andonova, Senior Consultant Irina Andonova joined the company in 2011 to further develop the company’s business in one of the most dynamic sectors – Fast Moving Consumer Goods. She has intensive HR and training and development experience in the sector, having worked at McDonald’s, Office 1 Superstore and Kamenitza. B2B, distribution, luxury products and advertising and marketing services are the other subsectors within the scope of the Consumer Products and Services practice group. Irina is also involved in projects for OTC pharmaceutical companies. Biliana Djambaska, Senior Research Associate Biliana Djambaska has professional HR background from FMCG companies – Chipita and Nestle. She is among the first members of the local team, joining it in 2006. She is actively involved in all assignments in the Consumer Products and Services and Life Science and Healthcare practice groups. Currently she supports and coordinates the work of the team of researchers of the company.2
  3. 3. STANTON CHASE SOFIA NEWSLETTER JUNE 2012Business in technology:still areas for growth The local teamTechnology Metodi Terziev, Senior Consultant Metodi joinedThe globalization effect, common markets, rapid Stanton Chasetechnology development, increased goods Sofia in 2011 as aand services consumption led to significant Senior Consultantincrease in data quantity worldwide during the in the Technologylast two decades. According to Gartner analyses, practice groups. Hecompanies face the following challenges: work also develops thewith real-time data to meet customer demand Professional Services(real-time analytics), data storage, backup and practice group and supports the company’s businessrecovery (in-memory database systems / data with financial companies. His previous experiencewarehousing changes) and constant access to involves recruitment expertise with IT, telecom andinformation (cloud computing). finance companies in Germany and England. He has also worked as an intern at an expert position for theLocally we observe the following trends: Bulgarian Stock Exchange. As a student in Economics The outsourcing and software development and Business in Switzerland, he was actively engaged sectors are still growing with focus on service in the largest students’ organization AIESEC, working delivery projects for foreign clients. on a voluntary basis as the Local Committee President The telecommunications sector is struggling in Basel. due to increased competition, reduced prices (EU regulations) and growth of free-of-charge telecommunication services. Elena Rusanova, The system integration industry is still very Research Associate much dependent on the government sector Elena joined the and public tenders. Local and international company in 2011 to ERP system providers have to accommodate support the Technology complex procedures and prolonged and Professional Services negotiations etc. which strongly affects their practice groups. She immediate business results. is also in charge of Companies are focusing more and more on the management and digital marketing, online services and customer development of the interaction through social media. database system. Prior Successful sales people from middle to top/ to joining Stanton Chase, she worked as a technical senior level are very much in demand. They assistant at an FMCG company, where she took part are expected to drive sales results, motivate in the recruitment and selection process. Elena has big sales field force and, most of all, lead by a bachelor’s degree in Economic Psychology and a example. master’s degree in Human Resource Management. 3
  4. 4. STANTON CHASE SOFIA NEWSLETTER JUNE 2012 Industrial and Energy sectors: slow recovery and need for professionals Big manufacturers and industrial equipment traders in the country faced a difficult 2011, since they were seriously affected by the economic slow-down. According to NSI data, the industrial sector created 31.2% of the total value added of the economy, which is only 1.7 % higher than in 2010. Most managers are realistic and expect excess capacity. Further delay of recovery within the sector is expected due to lower demand for production and decline in orders from abroad. Construction marked a significant annual decline of 11.1 % despite big infrastructure projects that keepthe sector alive. Local and foreign companies refrain from implementing their investment strategies dueto the unstable economic environment and pessimistic prognoses.Energy was in the centre of attention both for media and big companies throughout the whole 2011. Despiteheated comments and discussions, the sector observed a marked decline of foreign direct investments.Interest in renewable energy sources also decreased. Shortage of experienced professionals, qualified inline with the EU standards, is observed.Unfortunately, it seems there are not many good prospects for considerable growth in these sectors. Arecent survey of the German-Bulgarian Chamber of Industry and Commerce revealed that the number ofcompanies that wouldn’t repeat investing in Bulgaria has risen with 13.5 %. On the other hand, 59% of therespondents expect increase in their revenues for 2012.The positions companies recruit for currently are technical directors, maintenance managers, productiondirectors, business unit managers and quality managers with practical experience in implementing Lean,Six Sigma and similar methodologies.The local team Dobromir Minkov, Senior Consultant Dobromir has professional expertise in the oil and gas industry. His main focus at Stanton Chase is industrial and energy companies, as well as those in logistics and transportation. He has already successfully run projects on attracting top managers and professionals as expats in Bulgaria. Dobromir also has successful placements for top management positions within the banking sector. Previously he supervised diverse industrial projects in Shell and then managed the business development of the Oil, Gas and Chemicals Services section of SGS Bulgaria. Bissera Stoyanova, Research Associate Bissera Stoyanova has experience from the HR sphere, having been part of the training team of Adecco. At Stanton Chase she does extensive candidate sourcing as a researcher in the team that manages assignments for three practice groups: Industrial, Natural Resources and Energy and Logistics and Transportation. She has a major in Psychology and is currently completing a master’s degree in Human Resource Management and Development.4
  5. 5. STANTON CHASE SOFIA NEWSLETTER JUNE 2012 Executive Search in Bulgaria what to expect? When searching for senior and key middle management executives, your company makes a double investment – once for the search and selection process (no matter internal or external) and once for the proper integration of the professional placed. In case you have decided to turn to an executive search firm, we advise you to request the following: Contact with a consultant who takes personal responsibility for your currently expressed needs and understands your business, the market and the job. Insist on a well-defined search strategy, agreed with you – the consultant should discuss with you where they can and cannot source candidates from (the so called off-limits). The consultant should also suggest alternative channels for candidate sourcing (different industries, other functions with potential to fill in the position, etc.) Confidentiality is very important in the process of executive search. You might specify that the consultant should not reveal to potential candidates characteristic details about your company in the first stages of the project. The researcher in charge should contact all relevant potential candidates according to the search strategy, without relying on databases/ a limited network of contacts. Since very often the professionals in question are not active on the job market, the project team should “sell” the position and your company pro-actively to them. The consultant should provide regular feedback to you on the market perception of your organization, on remuneration levels and all other related issues regarding the placement of the best possible candidate. Recommended (short-listed) candidates should meet your criteria from the start, matching not only the job specification requirements but also the core personality traits, business competencies and corporate culture your company identifies with. Thorough assessment of candidates is done to minimize HR and general management time investment. Last, but not least, an executive search company should provide relevant guarantees for the candidates placed so that both your organization and your future employee can focus on achieving effective on-boarding. At Stanton Chase Sofia it is actually a project team that works for you – the consultant, who is wholly committed to successfully closing the assignment with you and the researcher, who screens the market, makes initial contact with potential candidates and keeps the best of them interested in the potential prospects within your company. All consultants have strong industry background for the sectors they specialize in. At the end of each project you are provided with a final report summarizing findings during the search. Our consultants also provide on-boarding support to the placed candidate. 5
  6. 6. STANTON CHASE SOFIA NEWSLETTER JUNE 2012Stanton Chase CEO Survey Yuliana Popova, PR & Marketing Coordinator Our second yearly survey among 140 top managers in the country, conducted at the end of 2011, identified the following local trends: top priorities for managers in Bulgaria for 2012 are sustaining stable cash flow, business restructuring and identifying and retaining talents (according to 62 % of the respondents). - what managers are expected to do effectively is change management and faster delivery of growth objectives (41 %). - what they believe they need to do is develop strategic thinking, improve communication with employees to sustain motivation, attract and retain talents (74 %).- change of jobs – not by all means: managers are either unwilling to work in virtual teams, or are reluctant to change their current location; some feel there are too many top executives on the market- reasons for leaving current employer: little freedom to act at their own discretion, lack of relevant compensation and benefits, lack of stable career advancement- career goals – interest in promotion in a larger international company, or even abroad.- when searching for career change, managers tend to rely on their networks of personal and professional contacts (41 %) and on executive search consultants (37%).- interest in new career opportunities is high and unlike in 2010, managers identify them mainly in the sectors in which they are employed. The respondents are business leaders at president, board, CEO, general manager, etc. level. The majority come from Consumer Products and Services (24 %), Technology (20 %) and Financial Services (20 %). The remaining 36 % come from Life Science & Healthcare, Light and Heavy Industry, Natural Resources & Energy, Logistics and Transportation and Professional Services. Stanton Chase Sofia 81B Bulgaria Blvd., floor 6, Sofia 1404 Tel: +359 2 962 2931; Fax: +359 2 962 8347 www.stantonchase.com6