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Russia
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Russia
Russia, with a GDP of $2 trillion, ranks 11th globally. Main industries include oil, gas, and machine building. Russia has a stable working population but faces future labor market sustainability challenges due to an aging demographic. The unemployment rate is low at 3.3%, indicating a competitive labor market. Recruitment agencies are numerous, showing a mature industry with specialization.
Russia'S
AGENCY LANDSCAPE
600
Agencies operating in Russia
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
Russia'S
FEATURED AGENCIES
Antal International
Manpower Group
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Russia'S
GROSS DOMESTIC PRODUCT (GDP) RATING
11
WORLD RANKED
Russia ranks 11th in the world by current economic output
$2T
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
5
EMEA RANKED
Russia is the 5th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Russia's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Russia'S
CURRENCY AND CODE
RUB
Country currency
RUS
Country ISO code
Russia'S
INFLATION RATE
6.9%
CURRENT RATE
▲1% INCREASE
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Russia'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Russia'S
LABOUR STATISTICS
145M
POPULATION
With a population of 144,699,673, Russia is a medium sized country by global standards. Russia's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Russia is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Russia's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Russia'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Russia'S
UNEMPLOYMENT RATE
3.3%
CURRENT PERCENTAGE
▼0.54% REDUCTION
Russia's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a moderate decrease, suggesting a positive shift toward better economic stability and improvement in job availability
Russia'S
TOP PERFORMING INDUSTRIES
Top industries
Oil
Gas
Metals
Russia'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
69
/
54
Male | Female
In Russia there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Russia'S
WORKING LIFE
14DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
Russia'S
TOP BENEFITS
20WEEKS
Maternity leave
Different countries offer mandatory benefits: 28 days of annual leave, 3 days of sick leave, and 20 weeks of maternity leave.
3DAYS
Sick leave
Types of mandatory employee leave: Annual Leave (28 days), Sick Leave (3 days), Maternity Leave (20 weeks). Each type specifies a set time period.
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