Employment expectations in Argentina showed growth of 9% for the first quarter of 2023. These data belong to the latest survey conducted by ManpowerGroup through the Employment Expectations Survey, which included the participation of more than 700 Argentine employers between October 13 and November 25, 2022.
The conclusions left by the report regarding the country’s Net Employment Expectation (ENE) were as follows: 37% of the employers surveyed plan to increase staff, 22% plan to decrease it, 38% do not plan to make changes and the remaining 3% do not know if they will make them in the surveyed period.
While this result shows that Argentina appears to have experienced growth in terms of net employment expectations, relative to the rest of the countries in the region and the world the same does not happen.
Of the 41 countries where this survey was conducted, Argentina was positioned as the ninth among those that least reflect the growth of hiring intentions for this first quarter of 2023, which runs from January to March.
In dialogue with Clarin, Gustavo Aguilera, Director of Talent Solutions and People & Culture at ManpowerGroup Argentinaexplains that there are factors that may have contributed to Argentina’s position at the bottom of this ranking of employment expectations: “There is very high macroeconomic uncertainty, because the global context tends towards a recession”.
And he adds in this regard: “The great powers that are China, the European Union and the United States are slowing down and entering a state of deep recession, this will have an impact in Latin America and Argentina”.
Furthermore, Aguilera points out that in the local scenario inflation has had a great influence during 2022, but that there are also local risks derived from the impact of the drought that began in the last months of last year and extends until today : “This drought problem will have its effect on a sector that has a lot of traction, which is agriculture,” Explain.
Within the Latin American region, Argentina was last behind Colombia (+23%) and Puerto Rico (+26%), but Aguilera points out that despite this statistic, “Argentina has a capacity that allows it to recover quickly from adverse contexts”.
The director of Talent Solutions and People & Culture of ManpowerGroup Argentina is optimistic about what can be projected for the coming months: “The crisis is interpreted very quickly by companies and the room for maneuver to maintain current production lines, or adapt to new contexts”.
As described in the report, Aguilera concludes that it is true that those who They will have more resources to manage these crisis contexts, it will be large companies, unlike small and medium-sized enterprises, which will surely have to make more drastic employability decisions.
“However, more creativity is allowed in small and medium-sized businesses, with staff becoming multitasking and multitasking at the same time. This becomes attractive as employees strengthen their knowledge,” he notes.
These are the best placed items for 2023
In regards to what is happening with industries and expectations for the future, in Argentina the asset ranking was led by the sector of Finance and Real Estate remained with the strongest position in the sample, with a +32% OVR.
“Finance has had a significant uptick in the latest surveys; everything related to banking, finance, insurance, real estate, savings, mortgage financing, diversified financial services is included here. Fintech and real estate are the instances with the highest growth rate in this sector”. This category is followed by IT (+21%) and Energy and Utilities (+19%).
The category reporting the weakest hiring expectations is instead Health and Life Sciences, with an ENE of -7%: “It meant a drop of 5 percentage points compared to the previous quarter. Here is everything that has to do with healthcare, the social, healthcare supplies, services related to healthcare and medical assistance, pharmaceutical biotechnologies”.
Gustavo Aguilera explains that part of the decline in this category is linked to the complex situation that the pharmaceutical industry is going through regarding price controls, as well as the cessation of vaccination campaigns in the context of the pandemic.
“To this is added everything related to the importation of raw materials; everything contributes to reviewing the production plans of the pharmaceutical industry, which lowers recruitment expectations ”, he concludes.
NS
Source: Clarin
