Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Stanton chase newsletter bulgaria
1. STANTON CHASE SOFIA NEWSLETTER JUNE 2012
Welcome to our
first local newswire!
Darina Peneva, A BlueSteps report for 2011 states that 58%
Managing Director of the executives surveyed worldwide believe
d.peneva@stantonchase.com competition for executive level jobs has increased,
changing to an extent where younger and out of
We started our business work executives are included as well.
six years ago and we can
already say we had the The same report shares the findings that senior
executives continue to believe that working for 3
strange luck to live through organizations in a ten-year period is the maximum to
times that convinced the remain credible (around 80 % of the respondents).
world nothing will come
back the way that we It also identifies a slight decline in executives’
knew it. And this is great! willingness to relocate internationally for a career
Industries change, new professions appear in the blink opportunity. Relocating family remains the biggest
of an eye and true professionals become more and more concern about relocation.
valued. In order to attract and retain these professionals
and develop talents within organizations, companies According to a recent report by Birkman
need influential leaders with entrepreneurial approach International and Stanton Chase, the most critical
in search of alternative solutions. The economic leadership competency sought after is the ability to
environment and decreasing business volumes demand manage change (for 41 % of the respondents).
better and more adequate identification of customers’
needs in order to create new market niches. And finally, when back in 2010, eight hundred managers
worldwide were asked whether they would consider
We would like to share with you some interesting global working fewer hours if this meant a proportionate decrease
trends we feel are relevant for our otherwise specific in earnings, two thirds replied that they would not consider
local market. We will leave it to you to discover how they such a reduction, even if it meant a better lifestyle. We are
correspond to findings from our CEO survey (p. 6). wondering is this how you feel now, in 2012.
Pharmaceutical companies welcome
professionals from other industries
Life Science and Healthcare
d.peneva@stantonchase.com
According to data by IMS Bulgaria, pharmacy market in further increase in sales. We observe the development of the
the country is expected to grow with 10 % in 2012. During following two new roles – product specialists and market
2011 sales grew with 12.4 %, food supplements marking access managers. Product specialists are an intermediate level
the biggest growth, followed by OTC drugs. This data helps between medical representatives and product managers.
illustrate the growing need for professionals from other Market access managers are mostly needed in companies that
industries, especially FMCG, in pharmaceutical companies. produce original and innovative drugs and their main focus is
Our successful placements in this sector prove that experience work with all stake holders so as to gain new drugs access to
in the sales, marketing and supply chain functions in FMCG the market.
companies is rather valuable when it comes to reaching
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2. STANTON CHASE SOFIA NEWSLETTER JUNE 2012
FMCG managers are interested in
Consumer Products and Services career change
i.andonova@stantonchase.com
Today FMCG companies in Bulgaria focus mainly on insights, digital marketing, market analyses, etc.)
internal processes, related to optimization, on the are often key for these positions.
one hand, and elaboration of strategies and tactics, Our observations show that managers from the
on the other, in order to maintain their business CPS industry are often willing to change sectors.
in a decreasing market. Excellence programs are There is strong interest in further career growth in
introduced to ensure processes improvement and pharmaceutical companies and organizations with
business sustainability through implementation of unrevealed potential (e.g. multinational companies
global and regional best practices. There is a growing specialized in consumer electronics, Bulgarian
demand for project management, networking and FMCG manufacturers, etc.). However,
influencing skills, as well as creativity, resilience and potential candidates are likely to
drive. take the step only if companies
Since non-specific processes are usually outsourced are consistent in talent
(route-to-market approach), recruitment for acquisition
functions not directly related to manufacturing and retention
and sales has been slowing down currently. and deliver on
However, there is a demand for sales and marketing corporate social
professionals. Experience in category management responsibility
and rare expert analytical expertise (consumer commitments.
The local team
Irina Andonova,
Senior Consultant
Irina Andonova joined the company in 2011 to further develop the
company’s business in one of the most dynamic sectors – Fast Moving
Consumer Goods. She has intensive HR and training and development
experience in the sector, having worked at McDonald’s, Office 1 Superstore
and Kamenitza. B2B, distribution, luxury products and advertising and
marketing services are the other subsectors within the scope of the
Consumer Products and Services practice group. Irina is also involved in
projects for OTC pharmaceutical companies.
Biliana Djambaska,
Senior Research Associate
Biliana Djambaska has professional HR background from FMCG companies –
Chipita and Nestle. She is among the first members of the local team, joining
it in 2006. She is actively involved in all assignments in the Consumer Products
and Services and Life Science and Healthcare practice groups. Currently
she supports and coordinates the work of the team of researchers of the
company.
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3. STANTON CHASE SOFIA NEWSLETTER JUNE 2012
Business in technology:
still areas for growth The local team
Technology Metodi Terziev,
m.terziev@stantonchase.com Senior Consultant
Metodi joined
The globalization effect, common markets, rapid
Stanton Chase
technology development, increased goods
Sofia in 2011 as a
and services consumption led to significant
Senior Consultant
increase in data quantity worldwide during the
in the Technology
last two decades. According to Gartner analyses,
practice groups. He
companies face the following challenges: work
also develops the
with real-time data to meet customer demand
Professional Services
(real-time analytics), data storage, backup and
practice group and supports the company’s business
recovery (in-memory database systems / data
with financial companies. His previous experience
warehousing changes) and constant access to
involves recruitment expertise with IT, telecom and
information (cloud computing).
finance companies in Germany and England. He has
also worked as an intern at an expert position for the
Locally we observe the following trends:
Bulgarian Stock Exchange. As a student in Economics
The outsourcing and software development
and Business in Switzerland, he was actively engaged
sectors are still growing with focus on service
in the largest students’ organization AIESEC, working
delivery projects for foreign clients.
on a voluntary basis as the Local Committee President
The telecommunications sector is struggling
in Basel.
due to increased competition, reduced prices
(EU regulations) and growth of free-of-charge
telecommunication services. Elena Rusanova,
The system integration industry is still very Research Associate
much dependent on the government sector Elena joined the
and public tenders. Local and international company in 2011 to
ERP system providers have to accommodate support the Technology
complex procedures and prolonged and Professional Services
negotiations etc. which strongly affects their practice groups. She
immediate business results. is also in charge of
Companies are focusing more and more on the management and
digital marketing, online services and customer development of the
interaction through social media. database system. Prior
Successful sales people from middle to top/ to joining Stanton Chase, she worked as a technical
senior level are very much in demand. They assistant at an FMCG company, where she took part
are expected to drive sales results, motivate in the recruitment and selection process. Elena has
big sales field force and, most of all, lead by a bachelor’s degree in Economic Psychology and a
example. master’s degree in Human Resource Management.
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4. STANTON CHASE SOFIA NEWSLETTER JUNE 2012
Industrial and
Energy sectors:
slow recovery and need for professionals
d.minkov@stantonchase.com
Big manufacturers and industrial equipment traders in the country faced a difficult 2011, since
they were seriously affected by the economic slow-down. According to NSI data, the industrial
sector created 31.2% of the total value added of the economy, which is only 1.7 % higher than in
2010. Most managers are realistic and expect excess capacity. Further delay of recovery within the
sector is expected due to lower demand for production and decline in orders from abroad.
Construction marked a significant annual decline of 11.1 % despite big infrastructure projects that keep
the sector alive. Local and foreign companies refrain from implementing their investment strategies due
to the unstable economic environment and pessimistic prognoses.
Energy was in the centre of attention both for media and big companies throughout the whole 2011. Despite
heated comments and discussions, the sector observed a marked decline of foreign direct investments.
Interest in renewable energy sources also decreased. Shortage of experienced professionals, qualified in
line with the EU standards, is observed.
Unfortunately, it seems there are not many good prospects for considerable growth in these sectors. A
recent survey of the German-Bulgarian Chamber of Industry and Commerce revealed that the number of
companies that wouldn’t repeat investing in Bulgaria has risen with 13.5 %. On the other hand, 59% of the
respondents expect increase in their revenues for 2012.
The positions companies recruit for currently are technical directors, maintenance managers, production
directors, business unit managers and quality managers with practical experience in implementing Lean,
Six Sigma and similar methodologies.
The local team
Dobromir Minkov,
Senior Consultant
Dobromir has professional expertise in the oil and gas industry. His main focus at
Stanton Chase is industrial and energy companies, as well as those in logistics and
transportation. He has already successfully run projects on attracting top managers
and professionals as expats in Bulgaria. Dobromir also has successful placements for
top management positions within the banking sector.
Previously he supervised diverse industrial projects in Shell and then managed the
business development of the Oil, Gas and Chemicals Services section of SGS Bulgaria.
Bissera Stoyanova,
Research Associate
Bissera Stoyanova has experience from the HR sphere, having been part of the
training team of Adecco. At Stanton Chase she does extensive candidate sourcing
as a researcher in the team that manages assignments for three practice groups:
Industrial, Natural Resources and Energy and Logistics and Transportation. She has a
major in Psychology and is currently completing a master’s degree in Human Resource
Management and Development.
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5. STANTON CHASE SOFIA NEWSLETTER JUNE 2012
Executive Search in Bulgaria
what to expect?
When searching for senior and key middle management executives, your company makes a double
investment – once for the search and selection process (no matter internal or external) and once for
the proper integration of the professional placed. In case you have decided to turn to an executive
search firm, we advise you to request the following:
Contact with a consultant who takes personal responsibility for your currently expressed needs
and understands your business, the market and the job.
Insist on a well-defined search strategy, agreed with you – the consultant should discuss with
you where they can and cannot source candidates from (the so called off-limits).
The consultant should also suggest alternative channels for candidate sourcing (different
industries, other functions with potential to fill in the position, etc.)
Confidentiality is very important in the process of executive search. You might specify that the
consultant should not reveal to potential candidates characteristic details about your company
in the first stages of the project.
The researcher in charge should contact all relevant potential candidates according to the
search strategy, without relying on databases/ a limited network of contacts.
Since very often the professionals in question are not active on the job market, the project team
should “sell” the position and your company pro-actively to them.
The consultant should provide regular feedback to you on the market perception of your
organization, on remuneration levels and all other related issues regarding the placement of
the best possible candidate.
Recommended (short-listed) candidates should meet your criteria from the start, matching
not only the job specification requirements but also the core personality traits, business
competencies and corporate culture your company identifies with. Thorough assessment of
candidates is done to minimize HR and general management time investment.
Last, but not least, an executive search company should provide relevant guarantees for the
candidates placed so that both your organization and your future employee can focus on
achieving effective on-boarding.
At Stanton Chase Sofia it is actually a project team that works for you – the consultant, who is
wholly committed to successfully closing the assignment with you and the researcher, who screens
the market, makes initial contact with potential candidates and keeps the best of them interested
in the potential prospects within your company. All consultants have strong industry background
for the sectors they specialize in. At the end of each project you are provided with a final report
summarizing findings during the search. Our consultants also provide on-boarding support to the
placed candidate.
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6. STANTON CHASE SOFIA NEWSLETTER JUNE 2012
Stanton Chase CEO Survey
Yuliana Popova,
PR & Marketing Coordinator
u.popova@stantonchase.com
Our second yearly survey among 140 top managers in the country, conducted at the
end of 2011, identified the following local trends:
top priorities for managers in Bulgaria for 2012 are sustaining stable cash flow,
business restructuring and identifying and retaining talents (according to 62 % of
the respondents).
- what managers are expected to do effectively is change management and faster
delivery of growth objectives (41 %).
- what they believe they need to do is develop strategic thinking, improve
communication with employees to sustain motivation, attract and retain talents (74 %).
- change of jobs – not by all means: managers are either unwilling to work in virtual teams, or are reluctant to
change their current location; some feel there are too many top executives on the market
- reasons for leaving current employer: little freedom to act at their own discretion, lack of relevant compensation
and benefits, lack of stable career advancement
- career goals – interest in promotion in a larger international company, or even abroad.
- when searching for career change, managers tend to rely on their networks of personal and professional contacts
(41 %) and on executive search consultants (37%).
- interest in new career opportunities is high and unlike in 2010, managers identify them mainly in the sectors in
which they are employed.
The respondents are business leaders at president, board, CEO, general manager, etc. level. The majority come
from Consumer Products and Services (24 %), Technology (20 %) and Financial Services (20 %). The remaining
36 % come from Life Science & Healthcare, Light and Heavy Industry, Natural Resources & Energy, Logistics and
Transportation and Professional Services.
Stanton Chase Sofia
81B Bulgaria Blvd., floor 6, Sofia 1404
Tel: +359 2 962 2931; Fax: +359 2 962 8347
sofia@stantonchase.com
www.stantonchase.com
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