THE ROMANIAN DIASPORA IS AN INTERESTING RESERVOIR OF CANDIDATES"
Christian Tegethoff, Managing Director, CT Executive Search
What are the current trends on the Romanian job market?
As in most Eastern European countries, there is a clear shortage of workers of all kinds in Romania.
In addition to structural reasons, there are some current causes for this. The Romanian economy has largely overcome the problems of the Covid period and is experiencing a considerable recovery. Foreign and local companies are recruiting heavily. The trend towards "nearshoring" makes Romania interesting again as a production and more efficient location.
ROMANIA IS NO LONGER JUST AN EXTENDED WORKBENCH
Sebastian Metz, Executive board member, German-Romanian Chamber of Industry and Commerce (AHK Romania)
AHK Romania, the largest bilateral chamber of commerce in Romania, is celebrating its 20th anniversary this year. What role does it play in the local economy?
The year 2022 is a special year for AHK Romania, because we are celebrating 20 years of successful activity as AHK. A lot has happened in these 20 years, both for us as AHK, for our large bilateral business community, as well as for Romania - the country is developing more and more from a "simple" production location to an innovation location. We are currently registering a particularly high level of interest in Romania - a location that is not yet well known everywhere in Germany and that is unfortunately sometimes, often wrongly, still viewed in a slightly negative light.
Vietnam’s Visas and Work Permit Procedures
Vietnam reopened its border to foreign visitors and workers from March 2022 while seeking to simplify entry procedures to boost the economy. After making amendments to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam in July 2020, Vietnam has recently updated some relevant details, which foreigners and businesses should be aware of.
The Philippines’ 2022 Strategic Investment Priority Plan
The Philippines extended and expanded the tax incentives for a wide range of industries under the 2022 Strategic Investment Priority Plan (SIPP). The selected industries are those the government deems to be critical to the country’s development such as artificial intelligence, and high technical manufacturing.
Incentives in the SIPP take the form of income tax holidays (ITH), enhanced deductions (EH), and a preferential five percent corporate income tax rate (CIT).
Hiring Foreign Employees in China: A Quick Checklist of Requirements
Since June 2022, China has been relaxing some of its most stringent travel restrictions, including PU letter exemption for the application of Z-visa (work), M-visa (business), and F-visa (visitor), the shortened quarantine time for inbound travelers from the 14+7 model (14 days of centralized quarantine and 7 days of home quarantine) to a 7+3 model (7 days of centralized quarantine and 3 days of home quarantine), and the simplification of the work permit application process for foreigners.
All these updates indicate that mainland China has finally started to reopen its border and employers can generally resume the normal recruitment and employment of foreign employees.
An Introduction to Import, Export and Investment Incentives in Vietnam
With a strategic geographical location, a competitive workforce and a range of cost-saving opportunities, Vietnam is considered an attractive investment location for foreign investors.
In this context, the Vietnamese government has continuously improved business conditions through reforms and the improvement of investment incentives, making the country more attractive to foreign investors. This update explores what benefits foreign investors can reap, including the tax and import/export incentives available.
Poland: Remote working will be permanently introduced into the Labour Code
The Sejm is working on a project to introduce rules and obligations for employers and employees concerning remote working in Poland.
Remote work was introduced into the legal system as an ad hoc temporary solution during the COVID-19 epidemic. The parties to the employment relationship recognized the advantages of this form of working – and the legislator decided to regulate the issue in more detail in the Labour Code.
The Guide to Employment Permits for Foreign Workers in the Philippines
For expatriate workers and their employers in the Philippines, it is essential they understand the process of obtaining a work visa and employment permit to legally work in the country.
The Labor Code is the main employment statute in the Philippines and the Department of Labor and Employment (DOLE) is the administrative entity in the field of labor and employment.
Foreign nationals planning to work in the Philippines are required to secure a work visa, which can be obtained from the Philippines’ Bureau of Immigration (BI), as well as an Alien Employment Permit (AEP) issued by DOLE.
BULGARIA: THERE ARE NOT ENOUGH SKILLED WORKERS
Uwe Köhler, Managing Director, Husqvarna, Bulgaria.
What is your experience with recruiting workers?
We don't have any major problems recruiting. We are eleven kilometers outside of Ruse, where there are few jobs. Luckily for us, many of our positions are well suited for women; the proportion of female employees is 35 percent. Here, women can earn just as well as their men; we “man” entire assembly lines with women.
How to prepare for living and working in a new country
Working in a different country is a fantastic opportunity – professionally and personally. But such a big step needs preparation. Here are a few aspects that are worth keeping in mind.
- Choose a supportive employer
- Understand the culture
- Know the visa conditions
BULGARIA REMAINS ATTRACTIVE FOR THE GERMAN ECONOMY
Dr. Mitko Vassilev, General Manager of the German-Bulgarian Chamber of Industry and Commerce (AHK Bulgaria)
How is the German economy positioned in Bulgaria?
According to the Federal Ministry of Economics and Climate Protection, foreign trade turnover between Bulgaria and Germany reached EUR 9.8 billion in 2021, meaning that there was an increase of 19.43% compared to 2020.
Exports from Bulgaria to Germany amounted to 5.38 billion euros. In the opposite direction, imports from Germany to Bulgaria amounted to 4.5 billion euros.
THE IDEAL CANDIDATE - WHO ARE COMPANIES IN CHINA LOOKING FOR?
CT Executive Search Press Release
On 16 June, CT Executive Search and Dezan Shira & Partners held a joint webinar where Christian Tegethoff, Managing Director, CT Executive Search and Riccardo Benussi, Head of EU Business Development, Dezan Shira & Associates talked about recruitment and remuneration in China post COVID-19.
“China remains an important market for our clients, and companies from the DACH region are seen as attractive employers there. Working with many of them, we have seen a trend towards hiring local talent, which at this point is just as well equipped to handle executive roles within companies.” – Christian Tegethoff, Managing Director, CT Executive Search
BULGARIA: COMPANIES INVEST A LOT IN EDUCATION AND TRAINING
Natalia Bichevina, Manager CEE Desk, CT Executive Search
How attractive is Bulgaria from an HR point of view?
The situation in Bulgaria is ambiguous from an HR perspective. Compared to the EU, Bulgaria has a low wage level. In addition, income is taxed only slightly and the ancillary wage costs are moderate. Therefore, from a cost perspective, Bulgaria is an attractive location for labour-intensive manufacturing processes.
Why you shouldn’t be afraid of a radical career change
Starting over and embarking on a completely new career path can seem risky, scary, and sometimes even foolish. But if approached wisely, a radical career change can be a way to professional success as well as personal happiness.
Some questions that everyone who wants to start over should consider:
- Do I really desire to do that every day?
- Am I willing and able to make necessary sacrifices?
- What would the worst-case scenario look like?
Czechia: Labor-law agreements served by e-mail – are they valid?
A recent judgment handed down by the Supreme Court on 27 April 2022 under Case Ref. No. 21 Cdo 2061/2021 has rather stirred the stagnant waters of distance contracts in labor-law matters. In my view, the court arrived at a rather propitious conclusion in this judgment.
What was the issue in the case in question?
An Introduction to Doing Business in Hong Kong 2022
Compiled by the professionals at Dezan Shira & Associates, this comprehensive guide is designed to introduce the fundamentals of investing in Hong Kong. It is ideal for businesses looking to enter the Hong Kong market as well as companies who already have a presence there and want to stay updated with the most recent and relevant policy changes.
It covers the following topics:
- Establishing and Running a Business
- Tax, Audit, and Accounting
- Human Resources and Payroll
- Cybersecurity and data protection
The Indo-German Magazine/April - June 2022
Vietnam’s Hiring Challenges and Potential Incentives for Retaining Employees
Vietnam’s labor market is going through a transformation, with people moving from the countryside to the city, and switching from agriculture to manufacturing and service industries. While agriculture contributes significantly to the local economy, employing many people, with the economy opening up, other sectors such as the service industry are growing looking to hire additional labor to meet demand. But this has proved challenging due to a shortage of labor.
Romania: Employment agreement or mandate (management) agreement?
Duration of the agreement
- Employment agreement
- Unlimited term employment agreements are the rule as per the Romanian Labour Code.
- Fixed term employment agreements are allowed only in specific and limited cases expressly provided by the Romanian Labour Code i.e. for:
- replacing an employee whose agreement has been suspended, unless that employee participates in a strike...
Recruiting in the Post-COVID Era – Strategies for Attracting and Retaining Talent in Asia
The impact of the pandemic on recruitment and employment
Change in hiring priorities
The biggest change in hiring since the Great Recession has been a shift to a largely virtual recruitment process. But the hiring priorities of many companies have also changed. Now, hiring managers no longer only pay attention to candidates with the requisite skills. The talent that enterprises really need are “compound talent” with skills and professional knowledge that is adaptable to market development and economic progress.
Is India Good for Expats? We Discuss Salary, Work Visa, Tax, Social Security, and Living Conditions
Learn more about the important tax, HR, and payroll considerations for expatriates when relocating to India for work or other purposes. Key points of information include types of jobs open to expats living in India, local living conditions and related concerns, applying for an Employment Visa, the taxation regime and reporting requirements, and access to social security. This article will hold value for foreign hiring managers as well.
Human Resources and Payroll in India 2022 – New Publication from India Briefing
Why this guide matters
A firm understanding of India’s laws and regulations related to human resources (HR) and payroll management is essential for foreign investors who want to establish or are already running foreign-invested entities in India, as well as for local managers and HR professionals who may need to explain complex points of India’s labor policies.
PAPER HAS BEEN COMPLETELY ABOLISHED
Rainer Tom, attorney and founding partner in the Budapest office of the law firm bnt attorneys in CEE
How competitive is Hungary in terms of the legal and tax system compared to other Eastern European countries?
In the last ten to fifteen years, Hungary has developed into a very attractive investment location for foreign investors in direct competition with the neighbouring countries.
The corporate tax rate, which has been significantly reduced, is definitely one of the perks. At 9%, Hungary has the lowest corporate tax rate not only in the region but among all OECD countries.
TECHNICAL MANAGERS ARE IN DEMAND
Christian Tegethoff, Managing Director, CT Executive Search
What are the top trends on the Hungarian labor market?
Employers should definitely take note of these two trends: rising salaries and the increasing shortage of labor supply in Hungary. It goes without saying, that one prompts the other.
All surveys on the labor market in Hungary make it clear that the demand for qualified workers is greater than the supply. Accordingly, between 2013 and 2020, wages and salaries have increased in double digits every year.
STRATEGIC INDUSTRIES ARE GAINING IMPORTANCE
Adrian Stadnicki, Regional Director Central Eastern Europe, German Eastern Business Association, (OA), Berlin
Where do you see the advantages of Hungary compared to other Central and Eastern European production locations?
In our opinion, Hungary’s strength lies in the professional cooperation between companies and administration. The authorities at all levels are interested in constructive success, and their work is rated as fast, reliable and competent overall. For example, the Hungarian investment promotion agency HIPA (Hungarian Investment Promotion Agency) is one of the best investment promotion agencies in Central and Eastern Europe.
