CVO reports 180% growth in 2005 fuelled by strong growth in Central and Eastern European

Budapest based CVO International Recruitment, part of CVO Group, a human resource solution provider in Central and Eastern Europe has grown by more than 180% in 2005 and generating net revenues of EUR 3.4 million.

ìCentral and Eastern Europeís economies are booming, with GDP growth as high as 9% in the region. Since EU accession in 2004, we have seen an influx of new job opportunities, creating a very vibrant recruitment environment,î comments Norrie Sinclair, CEO CVO Group. ìSlovakia produces more cars per capita than any other country in the world, Estonia is fast becoming a technology R&D centre for Europe and more and more shared service centres are located in the region, taking advantage of the skilled, multilingual workforce.î

CVO International was able to capitalise on this growth, due to its strong costumer focus, industry specific consultants and search based recruitment approach. New businesses entering the region, as well as expanding existing companies are also changing the recruitment market. ìWe are seeing a turn towards a candidate driven market,î says Jacque Fields, MD CVO International Recruitment, ìand only companies like CVO International, which offer truly regional coverage and consistently high services levels, will be able to provide quality, international talent.î

2006 will also signal changes at CVO International. The company, previously organized geographically, is being reorganized along functional lines to strengthen its industry specific focus. Employers and jobseekers will benefit from the closer industry ties of the CVO recruiters as vacancies will be filled quicker with the best candidates. As each division will become a separate business in their own right, they will be headed by dedicated managing directors.

The specialised divisions will also be re-branded to fall under the CVO International Recruitment identity: Finance People will become CVO Finance Recruitment; Sales and Marketing People will be renamed CVO Sales and Marketing Recruitment; and Technology Peopleís will be known as CVO Technology Recruitment.