1.5
is how many times more likely major Russian companies are to change managing directors during a crisis in comparison to calmer times.
HSE researchers conducted a study of 355 major Russian companies and found that in the crisis year of 2009, 23% of them had changed their managing directors. In the more prosperous years of 2005 and 2011, 14% and 16% of companies, respectively, had reshuffled their upper management.
It turns out that a relationship actually exists between change in a managing director and a consequent increase in company efficiency. When a new person took the position of managing director during the 2008-2009 crisis, recovery was faster than when there was no change in leadership; after a year, sales increased and profits grew.
See also:
What Drives Innovation in Russian Companies
As part of the Management session of the XX April International Conference, Carl F. Fey from Aalto University School of Business, Finland, presented his paper on Facilitating Innovation in Companies in Russia: The Role of Organizational Culture. In his talk, Professor Fey spoke about the results of three studies he has been conducting with his team.
44%
of heads of Russian companies believe they do not have enough professional knowledge and skills for career development and professional growth. They would like to receive additional specialized training or education.
57%
of Russian companies offered training for their employees in 2014. In 2013, the number of such companies was significantly higher at 72%.
65%
of Russian companies are freezing their employees’ salaries during the economic crisis.
37.5%
of Russian research organizations that transferred the results of their work to companies for implementation helped to create entirely new products, manufacturing processes and services for the global market.
36.9%
is the share of total investment in technological innovation that Russian companies devote to research and development. The amount is nearly 411 billion roubles.