A survey by the Economic Policy Institute, conducted in January 2024, shows that nearly half of industry executives, 47 percent, report a shortage of qualified personnel. This development was referenced in discussions by RBC, with insights attributed to Gaidar Institute experts.
The January 2024 results set a new record in the survey’s history, which dates back to 1996. By contrast, in July of the previous year, about 42 percent of industrial leaders reported staffing gaps, a figure later adjusted to 45 percent as new data rolled in. Sergei Tsukhlo, head of the market research lab at the Gaidar Institute, noted that additional surveys followed the release, prompting an update to the dynamic series. In the autumn, staffing conditions improved, with 39 percent of businesses reporting shortages in October. (Citations: Economic Policy Institute; Gaidar Institute; RBC reporting)
To address personnel gaps, many firms increased wages as a strategy to attract and keep workers. A late-2023 study found that 47 percent of companies raised salaries for current and prospective employees. However, analysts from the Central Bank stressed that higher wages also raise operating costs for firms. December 2023 data indicated that the wage race had begun to slow, with experts noting limited resources left for further escalation among businesses. (Citations: Central Bank analysis; late-2023 salary study)
As shortages persisted, some employers began relying more on younger workers to fill roles, expanding recruitment among younger cohorts rather than drawing from broader labor pools. (Citations: industry observations; hiring trends)
Regions outside the capital were noted to experience the most pronounced effects in industries where salaries exceeded 100,000 rubles monthly, highlighting a correlation between higher wage bands and the distribution of skilled positions. (Citations: regional salary reports; industry analyses)