Executive Search in Romania – 2019 Outlook
Assumes Presidency of European Commission
In the first 6 months of 2019, Romania has the presidency of the European Commission, which is expected to focus the government more on European matters, than on internal ones.
Being in the spotlight of the international mass-media could be of benefit to Romania and increase awareness of the country among potential investors. For the second half of 2019, the focus of the political parties will be on the presidential elections that will be this year.
The GDP growth for 2019 is forecasted by the European Commission at 3.8%.
The unemployment rate declined during 2018 to less than 3.5% at year and is expected to remain more or less constant for 2019.
With the presidential elections scheduled in 2019, we don’t expect major foreign or local investments in Romania for this year.
The most important and dynamic employers in 2019 will be in the same industrial sectors as last year — IT&C, BPO, Shared Services & Customer Support Services. Automotive, Oil & Energy and FMCG industries. Employment is expected to remain stable.
Demand for executive search services is expected to continue at current levels and activity mostly reflects the need for highly experienced professionals in key positions, mainly in middle size companies.
Some domestic companies grew significantly in 2017-2018 and are showing increased interest in attracting talent from multinational companies as well as assessment and HR consultancy services and we hope to keep the trend in 2019.