In a situation where the forecast growth in GDP has declined and the market is showing signs of stagnation, companies are being forced to adjust their recruitment plans and budgets for the current year to cope with the new challenges that they are facing. KPMG asked 104 leading Russian and foreign companies from various industries whether they change HR-plans or not. Please, find the main conclusions below:

• More than 60 per cent of companies analysed have either made or intend to make adjustments to their HR plans
• The main priorities planned by companies are: increasing existing staff efficiency (89 percent), increasing employee engagement (63 percent), staff retention (61 percent), and talent management (55 percent)
• In contrast to the 2009 crisis, companies have adopted a more balanced approach to downsizing
• The general trend is for a reduction in staff costs
• 87 percent of companies affected by the changes have already revised their budget costs for HR purposes