Category Archives: Personal @en

Personal @en

The trends in recruiting for 2024

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In the year 2024, there exist several intriguing trends within the realm of personnel acquisition. Here is a brief enumeration of five developments worth examining:

AI-aided selection processes: Companies increasingly employ artificial intelligence to scrutinize applications and sift through the finest candidates. AI can aid in determining the alignment between applicants and job requirements with greater precision.

Virtual recruitment gatherings: Owing to escalating digitization, recruitment events are increasingly migrating online. Virtual job fairs, career webinars, and video interviews enable companies to reach out to applicants worldwide, circumventing the necessity for physical presence.

Emphasis on soft competencies

Alongside professional qualifications, soft skills such as teamwork, communication prowess, and problem-solving acumen are garnering more attention in personnel selection. Companies acknowledge the significance of these skills for successful collaboration and actively seek candidates who possess them.

Employer branding via social platforms

Companies are increasingly leveraging social media platforms such as LinkedIn, Instagram, and TikTok to fortify their employer brand and engage potential applicants. By offering authentic glimpses into corporate culture and employee narratives, they can position themselves as appealing employers through contemporary personnel marketing.

Flexible work arrangements

The pandemic demonstrated that many jobs can be performed remotely. Consequently, an increasing number of companies offer flexible work models, allowing employees to carry out their tasks from various locations. This broadens the pool of applicants and enables companies to attract talented professionals who do not reside near the company’s headquarters.

These trends underscore the continuous evolution of recruitment, necessitating companies to adapt in order to attract top-tier talent. While not all aspects are groundbreaking, the AI approach, in particular, has catalyzed market dynamics and reverberated across the other four points. Exciting times lie ahead!

Allgemeines @en, Economy @en, Personal @en

Unemployment in Bulgaria 2023

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Unemployment in Bulgaria continues to be a significant issue in 2023. Despite the country’s slow economic growth in recent years, the COVID-19 pandemic has led to the closure of many businesses, resulting in a further increase in unemployment.

Situation has improved over the past year.

In March 2023, the unemployment rate in Bulgaria is projected to be around 3.7 percent (compared to 4.5 percent in March 2022), according to the latest data from the European statistical authority, EUROSTAT. While this rate may not be very high compared to other EU countries, the number of long-term unemployed individuals is a cause for concern. Many people are struggling to find jobs, especially in rural areas and regions with lower economic development.

However, there have been positive developments as well. The Bulgarian government has launched various initiatives to promote employment, including support for start-up companies and the creation of incentives for job-creating businesses. Training and retraining programs have also been implemented to enhance employment opportunities for the unemployed.

The government is also committed to developing infrastructure, particularly in remote regions, to facilitate job creation in these areas. Another important step is to increase investment in the technology and service sectors, as these industries have high growth potential.

Unemployment in Sofia almost non existing

In major booming regions, particularly in the capital city of Sofia, as well as Plovdiv, Burgas, or Varna, unemployment is not a major issue. Qualified workers are in high demand, and there is nearly full employment. Sofia, with its emerging IT industry, and Plovdiv, with a strong industrial base, are experiencing widespread shortages of skilled workers.

In these major growth centers, such as the bustling capital of Sofia and the industrial hubs of Plovdiv, Burgas, and Varna, the unemployment situation is not a significant concern. Skilled workers are in high demand, and there is nearly full employment. Sofia, with its thriving IT sector, and Plovdiv, with its robust industrial base, are grappling with a widespread shortage of highly skilled professionals.

Efforts to address the unemployment issue extend beyond these urban centers. The Bulgarian government recognizes the need to bolster employment opportunities in rural areas and regions with lower economic development. Consequently, they have implemented various measures to uplift these areas. One crucial aspect involves investing in infrastructure development, particularly in remote regions, which not only improves connectivity but also facilitates job creation.

Additionally, the government has prioritized increasing investments in the technology and service sectors, acknowledging their immense growth potential. By fostering innovation and entrepreneurship in these industries, Bulgaria aims to generate new job opportunities and boost economic prosperity.

Moreover, the government has introduced programs aimed at fostering a skilled workforce. These initiatives include vocational training and retraining programs designed to enhance the employability of the unemployed. By equipping individuals with in-demand skills and qualifications, these programs strive to bridge the gap between job seekers and available employment opportunities.

While progress has been made, it is crucial to continue supporting and promoting initiatives that combat unemployment in Bulgaria. Collaboration between government entities, businesses, and communities is vital to ensure sustained economic growth and reduced unemployment rates throughout the country.

In conclusion, although unemployment remains a significant challenge in Bulgaria, positive steps have been taken to address the issue. The government’s commitment to promoting employment, investing in infrastructure, and fostering growth in key sectors demonstrates a proactive approach. However, ongoing efforts and support from various stakeholders are essential to further alleviate unemployment and create a thriving job market for all Bulgarians.

General @en, Personal @en

Working from home – Pros and Cons

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In the early 2020 the coronavirus disease (COVID-19) pandemic started spreading rapidly all over the world. Governments had to implement strict measures and restrictions in order to keep the deadly disease from spreading. In many countries this included complete or partial lockdowns, closing stores and restaurants, isolation, remote working, quarantine and social distancing. The rapid changes in everyday life have brought various challenges and changes to human life worldwide, causing an unprecedented impact on human health, lifestyle, and social life. One of the biggest changes that people all over the work had to face was working from home.

Impact of the “New Normal”

Since working from home has become a globally implemented practice due to the Covid-19 pandemic, people are experiencing the positive and negative sides of home offices. The opportunity to work from home has brought a new type of flexibility to the workplace and companies report it to be rather profitable.

Workers seem to be proving productive, despite working remotely. The prospect is that people working from home will tend to value and appreciate the interaction at their workplace far more in the future, which could help the work environment to become more social and strengthen human connection. Human connection would not only be improved at the workplace, but also in families.

Affecting the family life

Many parents and partners have never had such an opportunity for time to spend with each other. For example, people who would lose a couple of hours daily to travel from and to work can now use the time to have a quality family time before attending to work duties. Although balancing work and taking care of a family has proven to be hard for many families, working from home is an opportunity for parents to strengthen the relationship with their children and be more involved in the daily lives. Another positive impact that needs to be considered is that home offices help many organizations to deliver opportunities for up skilling of their staff and implement e-learning strategies, which can be beneficial for the personal and professional development of home office workers.

There are downsides…

Still, there are also multiple negative sides that are being reported. One of the biggest issues proves to be the lack of technological readiness, as well as lack of dedicated home space, which can be used solely for work. Another similar challenge that seems to be affecting workers’ productivity and success negatively seems to be the limited access to good internet connections that would allow workers to do their job remotely.

…but of course also upsides!

While this can be seen as a problem currently, it might actually positively enforce the development of technologies and home internet
connection delivery. For example, due to the Covid-19 pandemic and the need of video connection, many platforms have rapidly been developed and their creators are improving them daily. Moreover such platforms and social media are supporting creativity and innovations, as companies are trying to implement new marketing strategies and be more active, in order to have a unique presence on the internet.

Although the practice of working from home seems to be a double edged sword, it can be beneficial for people to look at the multiple undeniable positive effects and make the best of the current situation. Where there are challenges, there are opportunities

Personal @en

Career fair “Trained in GermanY“ November 2015

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It has been the second time that Balkaninvest took part as an exhibitor at the career fair in the Goethe institute in Sofia. Interesting applicants as well as potential clients visited our stand. Especially German-speaking specialists from Bulgaria took part in the fair which was organized by the Alumniportal Germany.

High qualified candidates at the Balkaninvest stand

Endreva Wetzel Sofai
Maria Endreva and Enzio Wetzel

After a short presentation about the Alumni Germany Website by Ms Maria Endreva, reference person of the Alumniportal in Bulgaria and Mr Enzio Wetzel, head of the Goethe institute, the alumni had the change to do job interviews with the exhibitors.

Our stand was well-attended by well-trained visitors with excellent German-skills. The majority offered a specialist education and many marketing and IT candidates were interested in our job advertisements.

In addition to that some of them were already living in a German-speaking country and wanted to inform themselves about the current employment situation, job and future prospects in Bulgaria.

But also other exhibitors of the fair came at our stand for small talk which offered us the possibility to establish business contacts.

Highlights at the Balkaninvest stall

Unser Stand auf der Karrieremesse im Goetheinstitut Sofia
Our stall at the fair which took place in Goetheinstitut Sofia

We presented the job ads we posted on the Alumni Germany platform and received many CVs at our stand. Some candidates already knew our employment ads from the Alumni platform and asked directly about them. Many fair participants knew Balkaninvest already as we took part in this fair for the second time or as they already had an interview at our office.

We offered a lottery as highlight for our visitors. The participants had the chance to win one of three interview trainings worth 149 Leva. The price included the simulation of a typical job interview in our Balkaninvest office in Sofia as well as a CV analysis including a written evaluation.

The candidates had to do a short German fill-in-the-blank test,in the German level stated in their CV, to be allowed to participate. The winners will be informed until the end of next week.

 Relaxing conclusion of the fair

Exhibitors and visitors were offered a buffet including water, juices, coffee as well as sweet and salty snacks. At the end of the event the guests were able to conclude the evening with a glass of wine and nice conversations between exhibitors and organizers. The operators were also asking the participants about feedback and improvement suggestions.

Summarizing it can be said that the career fair was a successful and professionally organized event. We were offered the possibility of informative talks and to socialise with important business contacts. We really look forward to take part in the next career fair “Trained in GermanY“.

Balkaninvest-Stand-