The coronavirus: The killer of the global economy

What is the greatest fear in people – infection of COVID-19 or loss of their current job positions? Coronavirus infection is undoubtedly the invisible killer of not only many innocent people in recent months, but also of many business units almost all over the world. The small and even medium-sized businesses are among the first to be attacked. The virus hinders the aspirations of young cadres to develop in many areas, as it is people with no experience are among the first to be fired in Bulgaria.

Departments break down, the communication between people is destroyed, much of what we have achieved so far is unfortunately lost. For many workers, losing a job is a greater fear of being infected with the well-known virus. People have become increasingly frustrated by the situation, precisely because of their internal anxieties about their future professional and financial status.Global economy is facing a crisis for which it was not all prepared so far. Even from the perspective of people from the front line.

Bulgaria in state of emergency

In our country, the state of emergency has a lasting impact on small businesses. Many of them find themselves in a big trouble hiding for their employees – wage cuts, layoffs and unemployment are already increasing. The panic in the country is growing, the residents of the affected areas are in a dilemma whether to worry about elderly relatives or their future financial situation. In both cases, one thing is certain – fear only weakens our abilities and we have to rethink what is happening through a more realistic prism that will lead us to dynamic decisions, positivism and adaptation to the environment.

On the other hand, COVID-19 has become the one and only topic for the Bulgarian journalists. They are glad to see that in this awful situation, at least their themes have an echo from the readers.

Marketers partly use the situation to announce the promotions of home delivery for prevention. Once again, it shows how diverse and creative marketing techniques can be.

Certainly people’s fear is justified and in some sectors the virus will indeed be the killer, but the motivation of the people would be able to help themselves even after the most unexpected falls.

We continue with our recruitment services

We will now reveal how the recruitment agency Balkaninvest handles the coronavirus, you can find such information also on our website where we maintain a constantly updated COVID19-page.

  • With the announcement of a state of emergency, our office continued to work with a minimal team and the rest of the staff continued to work hard from home to prevent coronavirus.
  • Future interviews will be conducted online on the arranged date and time.
  • In this way, we not only protect ourselves and the candidates, but also get used to the visualization that is likely to come in the future.
  • We have online meetings with our colleagues every day to share the information we need and to support each other.
  • The best way to contact us is by email.

Generation Z (Recruiting Generations part 3)

In Part 2 of Recruiting Generations we focused on Generation Y or the so called Millenials. What is so special about them is that they are optimistic, individual and educated. In Part 3 we will try to give more information about their successors – Generation Z (also called the Zers). The first children that represent this generation are born in 1996 and is still arguable when does this generation end. However the most people agree over the year 2014.

Very internet-minded, but also with a clear attitude: The Generation Z

The birth of Generation Z

Major events like financial crisis and terrorists attacks have left their marks on people born after 1996. Maybe the biggest difference between them and the Millennials is that the Zers are less optimistic about the future compared to their ancestors. The insecurity that they feel is caused by the lack of financial and political stability. Despite that an interesting tendency is observed. Less students than ever work during the summer holiday. Probably a possible explanation to this phenomen is the fact that their parents (Generation X and Y) earn more money compared to previous generations.

Be Social (not only with social media)

Furthermore employers should pay attention to the fact that salary alone is not motivation for Generation Z. It is much more important for them to have a job that makes the world a better place. They like to engage in social activities such as helping solve environmental problems, fighting world hunger, animal rescue and so on (just think of outstanding personalities of this generation like Greta Thunberg). It is of great importance to know that the culture and goals of an organisation make big difference when Generation Z representatives are looking for a job. They will undoubtedly prefer less paid job in a socially aware company rather than a better paid workplace with no social awareness.

Regarding technology Generation Z is the first generation ever that has no memories of a world without internet and social media. Fast access to any kind of information and communication via internet are taken for granted, they are not a luxury for the Zers. More than 70% of children who happen to be a part of this generation have smartphones and computers. That is why they spend the better part of their everyday life in social media, texting peers and following celebrities. Main characteristic of this young people is their tolerance towards difference. This means that they are open-minded and able to work and live along with everyone regardless of their sex, origin or religious beliefs. Prejudice is not common among the Zers mainly because internet communication enables them to meet people from all over the world.

How they use technologies

Representatives of Generation Z are believed to be great entrepreneurs. This belief is based mostly on their high education which makes them complex workers. A great deal of their skills is acquired thanks to the technologies they use since they were toddlers. Old school education is not something they can rely on. For example they do not seem to like teachers who just present them information which is easily accessible on the web.

Good knowledge of technologies and understanding of how they work can really help the Zers run their own business one day in terms of advertising and presentation of a product to the right audience. Their job is not just to work. Employers should make workplaces that make sense and provide excitement, satisfaction and visible results. As an employees the Zers have a lot of requirements, so companies should live up to their expectations if they want to win them. Things like social engagement, open-mindedness and tolerance are of great importance for Generation Z. And finally one thing which this generation is really good at – multitasking. You can really rely on its representatives when it comes to doing several things at once.

Generation Y (Recruiting Generations part 2)

In the first part of recruiting generations, we have dealt more with the good old generation X. The generation was born between 1965 and 1980. They represented the majority of the working population for several years. Their motto is “working to survive”, true to this guideline, their careers and a balanced work-life are very important to them. Since they have experienced some catastrophes like those in Chernobyl and also rising unemployment, they are striving for security and prosperity. In addition, this generation is very educated, internally aligned and very purposeful. The most important challenge for them is the arrangement of professional and private life.

Generation Y and recruiting

Advantage of generation X is that they have already gained a lot of experience and still have a few years in the professional world. For employers is it important to communicate with them openly and honestly, as well as to speak with authentic job adverts and social media pages.

In the second part of recruiting generation, we will go closer to the generation Y. The follower of the generation X do not make much effort in general. Things look different in the generation Y. The babies which born between 1980 and 1996 (baby boomers) have for some time presented the recruiters with challenges. The Millennials are very optimistic, individual, educated and have grown with the technology. They are always up-to-date, so they are also often called “digital natives”. For them it is normal to be always and constantly accessible. Therefore they do not draw a line between work and private life.

What makes Generation Y tick?

With the entry of the Millennials (also shortened to Gen Y) into the professional world, they brought about four major trends. These have decisively changed the working world and the recruiting process. Previously, the company was still very grateful and therefore very loyal to the opportunity to work on this. It was normal to be active for many years even a whole working life for only one company. Loyalty does not play a major role any more and many different employers are the order of the day. The follower of generation Y is not longer working to survive. They are looking for a higher sense in their work. If work does not make sense for them, they are also not motivated. In addition, they are always happy to continue their education and thus education is becoming an increasingly important factor – this has to be considered in particular when targeting the las cohorts t of this generation via graduate recruitment approaches. The Millennials are very flexible in every terms, they also demand flexibility from companies.

It is not enough for them to get a regular salary and the chance of a career to choose a job. Their main requirements are to be able to personally develop, reputation and flexible working hours. The image and the values of the company are now the reasons for the decision-making. They also attach great importance to transparency, trust and regular feedback. If all these factors agree, they are also willing to commit themselves completely to a job.

How to attract Millenials in recruitment?

In summary, the Millennials are a very open, educated and optimistic generation. They attach great importance to their freedom and individuality. If everything matches their expectations, they are ready to commit themselves to their jobs. They do not draw a dividing line between work and private life. In addition, the “digital natives” have grown steadily with the latest technology and are always accessible everywhere. If you want to win a Millennial as a company, you need to place great emphasis on a good corporate image, trust and transparency.

Recruiting generation X

The key words Generation X, Y and Z as well as employer branding are one of the most discussed subjects of the human resources at the present time.

What does that exactly mean? What are the differences between the generations? How can they influence the working world and the recruiting process? Each generation brings certain general and work-related behaviors, abilities, value systems and needs into the workplace. These can be expressed in a variety of ways (compare Oertel, 2014). In the first part of Recruiting Generations, the characteristics and needs of Generation X will be discussed.

Generation X

Who is Generation X?

The Generation X, born in 1965 to 1980 provides the majority of the working population of the western society. True to the motto: “working to survive”. They pursue a successful career and a balanced work-life. Employers do not have a significant effort with the employees. They are very consumer-oriented and they are less interested in politics and world affairs.

Other names of this generation are “carefree” or “generation of golf” (for Germany). The general name derives from the novel “Generation X – Stories for a growing culture” by Coupland (1991). They have experienced the end of the “new-economy-bubble” and the chernobyl disaster. As well as rising unemployment and the economization of wide parts of society. Their values are characterized by the pursuit of security, prosperity and career. Early in their careers, they were confronted with various forms of group work, flexible working-time models and the increasing communication and information technologies (compare Eberhardt, 2016).

The “carefree” generation

The followers of this generation were often able to grow up in an economically stable parental home. Therefore, good education played an important role. Generation X is highly educated and partly internationally oriented. They are incredibly determined in their professional live, which leads to a later family foundation. The greatest challenge for them is the arrangement of professional and private life. They are parents of younger children and at the same time in leading positions with partial international responsibility (compare Eberhardt, 2016).

How to approach Generation X?

An advantage of this generation is that on the one hand, they have already collect great deals of experience and on the other hand they sill have few years in the professional world. But how do you speak to them as an employer? First of all, it is very important to be open-minded and communicative with them. They are authentic and educated and also want to be treated like this. A large part of generation X is represented on social media sites and also use them for their job search. Therefore, it is always important to publish jobs also on these sites. These should be creatively, but also informative. In addition, this generation does not like to wait and therefore quickly losses its interest in a company, it does not answer after a few days.

The Generation X represents very experienced and determined workers, who still have a few years to go to the pension. They are looking for a safe workplace with the possibility to continue or even start a successful career.