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An International Whitepaper
By Brett Minchington MBA Chairman/CEO Employer Brand International and Emelenko Elena, Head of Employer Branding Consulting Centre, HeadHunter
Russia has a market economy with enormous natural resources, particularly oil and natural gas. It has the 10th largest economy in the world by nominal GDP and the 6th largest by purchasing power parity (PPP). It is also one of the BRIC economies, an acronym for the economies of Brazil, Russia, India and China combined. In 2003 the term was first prominently used in a Goldman Sachs report which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers.
The key to unlocking the enormous economic potential of this vast country will be to develop the human resource capabilities of companies based in Russia, a trend which is well on the way of positioning Russia as a country where the art and science of employer branding may well lead the rest of the world within the next five years. Russian companies are in a prime position to be able to learn from the mistakes and successes of Western companies before them. There is enormous interest in employer branding in Russia supported by the attendance of more than 250 managers at masterclass events I conducted in February and May 2011 and our first International Employer Branding Summit in September (400+delegates) in collaboration with HeadHunter, the country’s leading online job board.
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AT A GLANCE!