Large Bulgarian Firms Stress Qualified Labor as Anti-Crisis Measure

Business | October 11, 2009, Sunday // 12:46|  views

Large Bulgarian companies are planning to focus on retaining qualified laborers as an anti-crisis measure. Photo by

Preserving their qualified personnel is the major anti-crisis measure to be emphasized by most of the large companies in Bulgaria.

This is the main conclusion from a survey of 76 Bulgarian companies defined as “large-scale taxpayers and insurers” by the National Revenue Agency, conducted by Apeiron Research.

According to the survey, the major measures the large-scale companies have introduced to cope with the effects of the crisis are: reducing expenses through layoffs or slashing bonuses – over three-fourths of the respondents; developing new products and services (over 50%); and preserving the qualified staff (50%).

In the coming months, however, 71% of the large Bulgarian companies are going to emphasize keeping their expert employees, 66% - developing new products and services, and 63% - improving the motivation of their staff; reducing the expenditures comes fourth.

About one-third of the large firms have said their business had been affected seriously by the economic crisis, whereas two-thirds say they have been affected only moderately.

75% have said the major factor hurting their business is the decline in demand especially as far as export-oriented producers are concerned. Only 14% say they have suffered because they have denied credits by financial institutions.

Another main conclusion of the Apeiron survey, however, is that the economic crisis has had a positive effect on the business environment in Bulgaria by increasing the intra-company communication and discussion especially over matters referring to economic recovery, which is believed to boost the organizational management.

Apeiron Research is a project of Apeiron Communications, a Sofia-based consultancy specializing in intra-business communication. The detailed results of their latest survey are to be presented October 15, 2009.

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Tags: company, Global Financial Crisis, qualified labor, anti-crisis measure, Apeiron Research


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