Even though unemployment is rising and Ukraine’s economy is in recession, the best employees remain in heavy demand among top companies.
For the highest performing companies trying to retain top talent while cutting budgets, EY auditing giant has found a clue in a recent survey of 2,500 employees: While money is important, other factors – such as, professional and personal growth as well as stability – are important as well.
“In current circumstances, the importance of stability at the company became as important as money when choosing the employer,” Ulyana Maslova, head of HeadHunter recruiting and consulting company, told the Kyiv Post. “If earlier, professionals were ready to join a new doubtful employer if offered big money, now specialists who value themselves are making choices much more carefully.”
Multinational corporations, particularly those engaged in the information technology and fast moving consumer goods industries, seem to be most able to meet expectations and win the loyalty of employees.
The EY ranking of top employers named Google, Coca-Cola, Microsoft, Mondelez, Nestle, Procter & Gamble and the Big four audit and consulting companies. Ukrainian firms on the list include DTEK and Kyivstar. Metal giant Metinvest and Ukrainian billionaire Rinat Akhmetov’s Systems Management Capital disappeared from the list this year.
So besides capital in monetary terms, good companies have reputational capital as well.
“This also has a huge impact on the stability of the business, its attractiveness for clients, investors, (and) partners,” Maslova said. “Caring about personnel in times of crisis means that the company is stable, healthy and reliable, and resilient to shocks.”
But Iakiv Akulov, a human capital consultant with EY Ukraine, said it’s difficult to be a good employer while also cutting budgets and instituting hiring freezes or dismissing employees. Non-financial rewards and better communication of corporate goals help, Akulov said.
Victoria Vlasenko, 24, started an investment banking career two months ago after leaving a small audit company. She left partly because of the lack of professional growth opportunities. But there were other problems.
“After some years of experience, salary stops being the main motivation,” Vlasenko said. “What is much more valuable is opportunity and impulse for growth.”
Stability is important for Yana Ponomarenko, who lost her job at TVi channel when it went out of business. The station still owes her money, she said. The experience has made her much more cautious when choosing employers.
“I want at least some stability as my latest experience showed that even a well-known channel allowed itself not to pay salaries and was shut down for debts just in one day,” Ponomarenko said.
Gennadiy Radchenko, head of corporate communications and corporate relations at Nestle in Ukraine and Moldova, said reputations matter.
“As an international company with a good reputation, Nestle is well-placed in the Ukrainian market. We don’t need to prove that we are a reliable employer that pays salaries, taxes, is not engaged in misconduct and is quite stable, not forcing people out in the streets at the drop of a hat,” he said. “That’s why people want to work for us.”
]Nestle’s personnel policy includes legal employment, medical and life insurance, training and ample opportunities for promotion.
The EY survey showed that international opportunities are becoming more important for Ukrainians. The percentage of employees willing to relocate within the year jumped from 7 percent in 2013 to 16 percent in 2014.
Kyiv Post staff writer Olena Gordiienko can be reached at [email protected].
