REPORTERNET.COM

Data from the latest Cyprus Recruitment Index (CRI) released this week by GRS Global Recruitment Solutions, shows a substantial increase in placements within the corporate services sector for 2011 and projected growth in the financial and investment services sectors for 2012.

Despite the gloomy forecasts of global markets, the CRI figures suggest that the international business sector, which makes up a high percentage of GRS clientele, is still driving the economy. Although overall recruitment is down, the activity from international businesses settling or holding in Cyprus has pushed recruitment in corporate services and associated professions up by 20% on 2010.
“International businesses are keen to take advantage of the benefits offered by Cyprus as a low tax jurisdiction in which to do business … they need a team of lawyers, auditors, company directors and accountants,” said Donna Stephenson, GRS director and co-author of the CRI.
“As recruiters we have seen the development of skills to answer the needs of this sector, with corporate administrators and newly qualified accountants, now available and filling 30.9% of positions in this sector. However a skills gap is expanding at lawyer level, where experienced corporate lawyers are now in high demand.”
CRI figures show an influx of skilled professionals, 38.8% at degree level and 31.4% at Masters level.
Arno Bijl, managing director of Intertrust Group, is interviewed in the Index and confirms the high calibre of new staff his company has received from GRS. “All were well qualified. The candidates that have lived and worked abroad combine local knowledge, cultural sensitivity and service mentality towards foreign clients and partners. They have learnt customer orientation and responsiveness.”
The requirement for languages has drawn applicants from Cyprus 41.4%, Europe 20.2%, Russia 11.5%, Britain 8.3% and Cypriots from abroad 13.9%. Steve Slocombe, GRS director, explained that Cypriots returning from overseas have excellent language skills and they also bring international banking and trust experience.

(source: www.financialmirror.com)