Thousands of corporate officials seek employment abroad

By Ilias Bellos

Besides cash, the Greek economy is also running low on human resources as senior executives from the private sector are now seeking employment abroad. The trend has grown all out of proportion, hurting the very human capital that is vital for the country to emerge from the economic crisis.

Already more than 5,000 so-called C-level executives (CEOs, COOs, CFOs etc) are in search of alternative employment solutions in other countries. This figure stems from the number of CVs submitted to specialized multinational human resources companies that are active in Athens.

The trend started growing to a worrying level in early December, when the prospect of a general election first loomed, explained the managing director and senior client partner of the Korn Ferry Group in Greece, Katerina Diamantopoulou. She told Kathimerini that her company is currently receiving dozens of resumes daily from executives.

Diamantopoulou added that even well-paid executives in Greece are seeking opportunities abroad, while during interviews they express fears about the course of the country?s real economy, the credit sector and the prospects of the private sector in general.

ManpowerGroup conveyed the same message to Kathimerini regarding younger corporate officials: ?Executives, who at a younger age are often more willing to roll up their sleeves and deal with the challenges and uncertainties of today with a greater capacity to adjust and lower salary expectations, are changing the landscape at the C-suite,? said ManpowerGroup president Venetia Kousia. A swing has been recorded toward the countries on the Persian Gulf, as the shorter distance from home compared to other emerging markets and the high demand for executives has attracted the...