Nearly half of Russian companies do not believe there will be a double-dip recession next year, according to a survey by Antal Russia.

The FiveTen Group executive recruitment company based in Russia and CIS questioned 300 companies. Half the respondents were confident of further growth, in fact.

However, 18% were concerned about a new recession and were taking measures to prepare for it, including a more thorough cost-saving policy, organisational restructure, business diversification and client service improvement.

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

Michael Germershausen, Antal Russia’s managing director, says: “Companies operating in Russia modified their strategies significantly during the 2008-09 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.”