Senior Recruitment Consultant at GRS Recruitment Agency, Eleni Kyriacou, spoke to SOUZANA PSARA about the talent acquisition and recruitment sector in Cyprus, sharing insightful perspectives on the country’s economic renewal.
Underlining the evolving nature of the local job market, Kyriacou shed light on changing employment trends, setting the stage for a deeper exploration of Cyprus’ economic recovery.
Kyriacou explained that “a discernible trend in the corporate landscape is the prioritisation of experience over formal qualifications in hiring decisions”.
She noted that the motivations behind this shift can be diverse, encompassing objectives such as fostering inclusivity or the potential impact on salary expectations.
Moreover, she said that employers are now placing greater emphasis on soft skills, recognising their importance in fostering positive work environments, as many employees prioritise workplace atmosphere over salary considerations.
Senior Recruitment Consultant at GRS Recruitment Agency Eleni Kyriacou
“Maintaining a warm relationship with clients hinges on preserving a sense of urgency. This involves diligent follow-ups on the actions taken regarding their requests, being realistic about what can be accomplished, providing advice accordingly, and sharing valuable information about market trends,” Kyriacou said. “A comparable strategy applies to candidates. Maintaining transparency in the procedures is crucial to avoiding instances of ‘ghosting.’”
She asserted that to foster diversity, it is important to introduce profiles anonymously and without including personal details, explaining that this aims to prevent sexism, age discrimination, racism, and other biases.
Furthermore, Kyriacou emphasises the significance of consistently striving for at least one face-to-face meeting with clients.
Throughout the interview process, prompt follow-ups with both clients and candidates are crucial.
This establishes a sense of trust and assurance that the recruitment agency is actively engaged with them throughout the entire process.
Additionally, Kyriacou notes that candidates often choose their preferred way of communication. Even in the realm of emails or text messages, maintaining a human touch is essential.
According to Kyriacou, “numerous challenging situations arose in the previous year amid market shifts”, noting that “one involved persuading clients to create more diverse processes and implement new policies and employee benefits to enhance competitiveness”.
“Benefits don’t necessarily have to be financial; they can include aspects such as achieving a work-life balance, having flexible working hours, and the option to work from home,” she added.
Key sectors driving economic growth encompass technology and innovation, financial services, real estate and construction, renewable energy, green initiatives, startups, entrepreneurship, tourism, hospitality, and export-oriented services.
Notably, technology and innovation have seen significant growth, supported by government initiatives, funding opportunities, tax incentives, and the establishment of innovation hubs.
Securing the second position in the demand for specialised ICT personnel from the fourth quarter of 2022 to the third quarter 2023, Cyprus experienced a slight increase in demand for ICT specialists during the third quarter of this year, rising to 14.8 per cent.
The substantial economic impact of the ICT sector further underscores this success in attracting high-specialisation companies.
Kyriacou adds insights into the job market, saying that “the IT and Finance sectors have traditionally witnessed a high demand for skilled professionals. However, amidst a shortage of candidates in the current job market, there is a growing demand for personnel in HR, Marketing, and other disciplines as well. As a result of this shift, there is also a call to refrain from prolonged interview processes, given the rapidly changing availability of candidates.”
The real estate and construction industries have responded to increased demand, propelled by government initiatives to streamline building permits and encourage foreign investment. Cyprus’ commitment to green projects and renewable energy aligns with its dedication to sustainable practices, reflecting a broader global awareness of environmental responsibility.
Furthermore, the recruitment specialist explained that “the incorporation of AI tools into Applicant Tracking Systems (ATS) has proven to be revolutionary, offering significant time and cost savings by automating various functions”.
In response to the growing demand in the job market, developers, and analysts, especially those specialising in software and application development, are currently in high demand, constituting 50 per cent of the overall demand.
Importantly, in the dynamic economic landscape of Cyprus, the government actively supports its startup ecosystem through various initiatives.
These include offering grants, loans, incubator programmes, and fostering co-working spaces.
This forward-thinking approach is further exemplified by the introduction of the Cyprus Digital Nomad Visa in 2021.
This visa initiative aimed to attract foreign nationals from outside the European Economic Area and the European Union to live and work in Cyprus.
Cypriot businesses declaring that “we are hiring” reverberated as a testament to an economy that not only recovered from previous instances of decline, but managed to thrive, outperforming other EU economies in terms of GDP growth.
Moreover, businesses, strategically capitalising on the positive climate, visibly expanded their workforce to meet the demands of a burgeoning tourism sector and an economy diversifying through technological advancements.
Looking towards 2024, the employment landscape in Cyprus is undergoing a transformative phase.
Job seekers, armed with diverse skills and experiences, stand on the verge of new opportunities as industries rebound and adapt.
At the same time, employers continue to shape their workforce accordingly, seeking individuals not only with technical prowess but also with the capacity to show resilience and adaptability.
The spotlight remains firmly on flexibility, inclusivity, and innovation as guiding principles in hiring decisions.
Finally, it is evident that collaborative partnerships with recruiters and talent acquisition agencies retain their pivotal role in identifying candidates seamlessly aligned with the evolving needs of businesses.
