Stanton Chase Bulgaria: Increased interest in partnership with executive search companies

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Nearly half of the executives in Bulgaria would gladly consider a promotion in a larger international company. This comes out from a current survey by Stanton Chase Bulgaria among 140 top managers of big Bulgarian and international companies in the country from all economic sectors. The more ambitious respondents would be motivated by a managerial position abroad. To achieve their career development goals, they tend to rely on their networks of personal and professional contacts. However, there is a growing interest in partnership with executive search companies.

Nearly half of the participants share the opinion that managing boards and shareholders expect them to be effective mainly in change management and faster delivery of growth objectives. Therefore they believe they need to invest more efforts in developing their strategic thinking skills. They regard the economic slowdown as an opportunity to strenghten their teams by identifying and retaining talents. Sustaining stable cash flow is still a number one priority for them.

Quite a few of the executives who took part in the survey often feel they have too much responsibilities and too little freedom to act at their own discretion. That’s why, if they are to consider leaving their current employer, they would less likely focus on the lack of relevant compensation and benefits or the diminished possibility of stable career advancement.

Most of the respondents in the survey are interested in new career opportunities and unlike in 2011, identify them mainly in the sectors in which they are employed. Surprisingly, contrary to various financial, economic and political analyses, more than half are optimistic about this year (66%). Managers from all sectors seem unanimous in their opinion that in 2012 the energy sector will be most likely to develop intensively.

The respondents of the survey are business leaders at president, board, CEO, general manager, etc. level. The majority come from the following sectors: Consumer Products and Services (24 %), Technology (20 %) and Financial Services (20 %).

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