More than half of Russian businesses are still hiring at managerial level, according to a survey by international recruiter Antal Russia.

Despite the global economic problems, Antal’s Global Snapshot found that apart from the banking and finance sector, other sectors in the Russian market were still hiring staff.

According to the survey conducted in December 2008 in Russia, covering more than 200 companies (mainly Western firms), 64% of FMCG [fast-moving consumer goods] companies are currently hiring, with only 28% letting people go.

In comparison, 79% of IT businesses in Russia plan to hire at managerial level, however 75% are also letting people go.

Tremayne Elson, Antal Russia’s managing director, suggests that the figures show these organisations are aiming to build more effective management teams.

“Companies have taken the opportunity to evaluate the effectiveness of existing management. There are now many opportunities to ‘trade up’ as the supply of mid- to senior ‘high-value nationals’ eases.

“This is the primary driver behind the paradox that many companies are both letting staff go, but also envisage recruiting.”