To your mind, how big is the recruitment market in Latvia?

There is no unique estimate of the recruitment market’s size. The result much depends on the applied assessment criteria. State employment agency issued licenses on recruiting services to approx.100 recruiting companies, most of these companies deal with recruitment for employment abroad. Only about 20 companies provide recruitment services for the local market. Each of these companies specializes in one or several groups of services as follows:

• Executive Search and Headhunting;
• Specialist Recruitment , CV selection etc.;
• HR Outsourcing and Payroll services;
• job advertisement sites and publicly accessible CV databases.

How many active participants are in the market? Who is the biggest one?

The only objective criteria of recruitment market’s assessment can be company’s turnover referred exactly to the recruiting projects implemented in Latvia, quantity of implemented projects and level of their specifics and complexity. If the company’s turnover comprises the income gained in other regions or from other services like outsourcing and consulting, database usage fee and job advertisement publication fee, comparison of such data is inappropriate.

According to assessment of companies’ turnover in 2012, “CVO Recruitment Latvia” is one of the three leading companies.

It must be noted that the level of services rendered by the Latvian companies in the field of Executive Search and headhunting meets international standards, and the expenditures on personnel selection make 20 – 30 % of gross annual salary of the professional being recruited.

How do you assess the situation in this industry?

We think the recruitment industry is oversaturated. From time to time we can see how new mostly international recruitment companies try to launch their business activity in Latvia. However it is close to breakdown. In this industry an accumulated experience and trust of loyal customers play a tremendous role, as well as inner recommendations as a result of years-long experience. The only chance for a new player to sweep the market – be engaged in predatory pricing, actually it means to cease own activity within two years.

How about your company’s business?

“CVO Recruitment” stays on the Baltic market for more than 13 year. We are proud of our loyal customers’ trust. We are pleased to know that our services are of great demand in the market. In addition to Executive Search and headhunting services recently we have started developing a new field – Talent Acquisition Program. Within this program we are planning to recruit 180 employees for several companies this year (2014).

The most demanded service is a profound research of leading profiles and focused specializations, as well as support of newly founded companies or representative offices that recently have launched their business activity in the Latvian market.

Published on March 26, 2014, by “Dienas Bizness” press; journalist Anda Asere