Last year the Factoring Business Solutions conducted first labor market survey of the Russian factoring industry.

This survey contains information practically about all participants of Russian factoring market (banks, factorings companies, staff), their HR policy, most in-demand experts, income level, expectations of job seekers and preferences of employers.

Financial crisis has altered the situation in labor market: the balance of power has shifted from candidates to employers. Many factoring companies/banks withdraw from market. As a result more than 50% of all specialists, who worked with factoring companies/banks, were fired. Companies cut staff as the volume of business shrank.

The number of staffers at the middle of 2009 was about 500 specialists compared to 2000 employees at the middle of 2008, one in 4 professionals was selected from redundancy.

Salary growth has slowed down. Many employees emphasized cutting of wages and employment benefits at an average rate of 15-20% over the 9-month period to August 2009.

In June vacancy rate fell short of 50% of pre-crisis volume. However 65% of Factors plan to extend their staff by the end of the year.

The full version of the survey is available for downloading (in Russian only) on the web-site of Factoring Business Solutions: http://www.bsfactor.ru/