Foreign Employees and Work Permits in Vietnam: Decree 152
- The Vietnamese government introduced Decree 152/2020/ND-CP (Decree 152) guiding the implementation of the labor code overlooking the hiring and management of foreign employees in Vietnam.
- Decree 152 came into effect on February 15 and replaces other decrees including Decree 11.
- Employers should study the new Decree carefully to ensure they are in compliance or risk strict penalties.
Wage Growth in China in 2020: How to Read the Latest Data
On May 19, 2021, the National Bureau of Statistics released wage data for 2020, showing that wages in China increased despite the COVID-19 pandemic and its associated economic impacts.
Wages in some industries, such as information technology and finance, grew at a rapid pace, while those in other industries hit hard by the pandemic, like tourism and hospitality, stagnated or declined.
Turkey: There is a light at the end of the tunnel
What positions do you usually recruit for in Turkey?
Not only is Turkey interesting as an export destination, but it has also established itself as a production hub for the Near and Middle East. At the same time, the country is integrated into the European supply chains.
Thus, about half of the mandates processed by us and our Turkish partner have to do with production and administration, while the other half is related to sales. We typically recruit for positions that report to the company’s European headquarters. Mostly, these are managing directors, plant managers, finance directors, sales managers and other positions at the local C-level.
Turkish employees are adaptable and reliable
Haluk Kaya, fmr. Managing Director of the Emerging Markets region, BSH Hausgeräte GmbH
How are German and other European employers viewed by Turkish employees today?
Every company - no matter where it comes from - should document that it is ready for a long-term commitment in Turkey. Germans and German companies are generally perceived very positively in Turkey and German products have an excellent reputation.
Young executives and other White-collars keep track of exactly how much the company invests in their personal future and careers. In this regard, German companies are perceived as systematic and reliable employers.
German-Turkish economic relations will continue to grow
Dr. Thilo Pahl, Managing Director, German-Turkish Chamber of Commerce and Industry (AHK Turkey)
Today, the Federal Republic of Germany is the Republic of Turkey‘s largest trading partner. The bilateral trade volume amounted to USD 37.7 billion in 2020 and German companies are among the leading investors in direct foreign investments (FDI). There are currently around 7,500 companies with German direct investments active on the Turkish market. They employ 120,000 people and represent an FDI of over USD 10 billion.
HR, International Business, and Finding the Perfect Talent
How does CT Executive Search innovate? What specific tools, software, and management skills are you using to navigate this crisis?
Christian Tegethoff: It’s no secret that the global pandemic has changed the way business is being done. The HR sector and we as a company have not been immune to the accelerated digital transformation that followed the global lockdown.
As a company, we have embraced these changes. In fact, the adoption of new HR technologies such as video interviewing software (top examples include Spark Hire, HireVue) and online meetings lead to higher productivity and greater results in terms of hired candidates. It also widened our pool of clients.
Overtime Regulations and Compensation in Vietnam
- Overtime hours and regulations refer to time worked in excess of regular working hours in Vietnam
- Understanding overtime can be of critical importance for calculating costs for businesses operating in the country.
- Vietnam Briefing briefly discusses the laws and compensation that regulate overtime hours as well as a comparison with Vietnam’s neighboring countries.
Romania: New legislative amendments in labour relationships
New legislative acts have been adopted with the main objective of making labour relationships more flexible and adapting them to the current socio-economic reality.
On 6th May, 2021, two new emergency ordinances entered into force, namely (i) GEO 36/2021 and (ii) GEO 37/2021.
EXPAT LIFE IN INDIA
“As India’s economy continues to grow, it is important for expatriates looking to work in India to take into account the cultural and workplace differences to ensure that business processes run smoothly, and they adapt effortlessly to life in India”. – Christian Tegethoff, Founder and Managing Director, CT Executive Search.
On 28th April, 2021 CT Executive Search, Rödl & Partner India, and AHK India held a joint webinar titled – Expatriates in India: Recruitment Trends, HR, Legal and Tax Aspects.
Christian Tegethoff, Founder and Managing Director, CT Executive Search then spoke about expatriate recruitment in India, as well as diversity in the workplace, and what to expect when adapting to the country’s cultural norms.
What is going on in Russia?
“Russia remains one of Germany’s most significant business partners. As we move past the restrictions brought on by the pandemic, it’s important to know how the market has changed post-lockdown, and what opportunities lie ahead for effective and mutually beneficial business relations.” – says Christian Tegethoff, Founder and Managing Director, CT Executive Search.
Top representatives of German companies came together to receive the latest updates on doing business in Russia at the webinar organised by Bundesverband mittelständische Wirtschaft (BVMW), CT Executive Search and SCHNEIDER GROUP.
Christian Tegethoff, Founder and Managing Director, CT Executive Search continued with a detailed overview of Russia’s HR sector, highlighting recent trends and prospects for executive search post-COVID-19. He also spoke about remuneration and employee benefits, as well as expatriate recruitment in the country.
How Labor Market Intelligence Can Strengthen Your India Market Relocation Strategy
The case for local labor market intelligence
While India offers several low-cost advantages – finding the right combination of factors is important when narrowing down your choices for relocating your business. What this means is that businesses must gauge the pros and cons of each location in India, before finalizing where to set up.
Leveraging Technology to Improve HR and Payroll Management
More and more companies today are seizing upon the advantages of using a ‘tech-powered’ HR and payroll solution to help them with their China employee management. In doing so, they are transforming their businesses into more efficient and mobile operations, which better meet the norms of international business, with more capable apps or portals to serve their internal customers.
Challenges of Traditional HR and Payroll Management in Post-COVID Era
More than ever, management, HR departments, administrators, and employees can be liberated from redundant HR and payroll procedures, by having processes optimized via technology so that their time can be refocused on higher value areas. Changes in staff locations, remote or mobile workflows, and the ability to manage compliance changes are inherent capabilities of quality apps, resulting in smooth online processes that better meet the challenges that companies face this year.
India’s New Labor Codes: A Brief Note for Foreign Investors
The government has deferred the implementation of the four labor codes – Code on Wages, 2019, Industrial Relations Code Bill, 2020; Code on Social Security Bill, 2020; and the Occupational Safety, Health and Working Conditions Code Bill, 2020 – till key industrial states notify rules of implementation. This was to previously come into effect April 1, 2021 and is likely delayed due to elections in some states.
THE PANDEMIC HAS CHANGED CUSTOMER BEHAVIOUR QUICKLY
To what extent has the shopping behaviour of Russian consumers changed in the past twelve months?
The pandemic changed customer behaviour very quickly. The end consumers quickly adapted to shopping less often but in greater quantities.
In our large supermarkets, where it is easy to keep your distance, customers also felt comfortable in terms of social distancing. The customers concentrated on fresh products, canned goods, and also regional produce. The latter turned out to be in great demand.
RUSSIA’S BUSINESS POTENTIAL IS UNDERESTIMATED
Christian Tegethoff, Founder and Managing Director, CT Executive Search
What is the situation like on the Russian executive search market? What kind of projects are you working on at the moment?
In Russia, we work mainly with large and medium-sized companies, mostly from the DACH region, Finland and Scandinavia. Many of these clients are active in the industrial sector - for example in mechanical or plant engineering, the manufacture of technical components and the construction-related sector. The majority specialize mostly in sales and services in Russia, but some also own production facilities here.
Accordingly, we are mostly tasked with the recruitment of managing directors who have experience in setting up and managing sales companies. There are also positions at the local C level, such as sales managers, CFOs, and other administrative functions. Plant and production managers are also among the more frequently sought-after positions.
RUSSIA STILL ATTRACTS A LOT OF ATTENTION OF FOREIGN INVESTORS
Tadzio Schilling, Chief Executive Officer, Association of European Businesses (AEB) in Russia.
Russia still is an emerging market and a market that attracts a lot of attention and interest from the European business. We expect 2021 to be no different and we hope that the new initiatives by the government in the field of investment climate such as the law on protection and attraction of foreign investment and the measures in support of exports and integration of global value chain will develop positive effect in that regard.
WILL THE CURRENT LABOUR LAW REFORMS AFFECT DOING BUSINESS IN INDIA?
CT Executive Search Update
“India remains an attractive market with huge perspectives. The demand for motivated, highly qualified talent for executive positions is picking up again. Webinars such as these keep our clients informed of what to expect when doing business in India.” – Christian Tegethoff, Founder and Managing Director, CT Executive Search
Top representatives from both companies, as well as AHK India and Freudenberg Group spoke about the investment climate, HR trends, the Union Budget 2020-2021, and the most recent changes to India’s labour law.
Christian Tegethoff, Founder and Managing Director, CT Executive Search then spoke about the current HR trends, executive search in India, how the pandemic affected recruitment, and what to expect in 2021 and beyond.
Q&A: Understanding Vietnam’s Labor Market and Key HR Compliance
With a working-age population of over 54 million, a steadily increasing proportion of trained workers, and competitive costs compared to neighboring countries, Vietnam’s ample and affordable workforce has always been a key factor in driving foreign inbound investment.
In the current framework, as Vietnam develops into a prominent regional manufacturing hub, companies entering the market need to consider workforce availability and implement appropriate HR strategies to source an appropriate workforce as well as attract and retain the best talent.
China HR Considerations and Management Strategies During Company Restructuring Period
HR restructuring in China can be a tripwire for foreign companies given the country’s strict labor laws and regulatory standards. We spotlight top considerations.
The success of a company often hinges on its ability to recruit, retain, and realize the added value and potential of its employees.
Similarly, in the case of business restructuring – how you manage your human capital when your business is in flux, will ultimately determine whether your business remains dormant or thrives during the process.
Tax Deadlines and New Income Tax Rules in India in 2021
Deadline for salaried taxpayers filing income tax returns
Salaried taxpayers have until January 10 to file their tax returns for FY 2019-20 – without incurring penalty fees for late filing.
The government notified (December 30, 2020) that it had extended the filing date for individuals whose accounts did not require an audit. This is a relaxation on account of the ongoing pandemic.
Focus on India: Current developments in the labor market - experience report
China Relaxes Entry Restrictions for Foreigners Inoculated with Chinese Vaccines
Chinese vaccine beneficiaries to access visa relaxations
According to the notices, starting March 15, 2021, travelers who have received Chinese COVID-19 vaccines and obtained the vaccination certificate will enjoy facilitation for visa applications.
Visa application by foreign nationals to resume work in China
WHAT IS HAPPENING IN CHINA?
CT Executive Search press release
“China holds a wealth of opportunities for potential investors, and those looking to set up operations in in the country. CT Executive Search has helped many companies find the ideal candidates, both local and expatriate, who have taken their respective companies’ operations to new, and impressive levels of success.” – Christian Tegethoff, Managing Director, CT Executive Search
On 18th March 2021 internationally renowned professionals came together to take a close look at the current HR and business trends in China at the webinar organized by CT Executive Search and Dezan Shira & Associates.
Christian Tegethoff, Founder and Managing Director, CT Executive Search spoke about China’s current state of the economy, pointing out that China was one of the few markets to bounce back in 2020 following the global lockdown. He then proceeded to shed more light on the HR trends post COVID-19, highlighting the top 5 trends to watch out for when it comes to China, as well as executive recruitment in 2021.
China - Individual Income Tax, Social Insurance, Labor Contracts Management
Riccardo Benussi, Head of European Business Development, Dezan Shira & Associates
Riccardo Benussi, Head of European Business Development, Dezan Shira & Associates brings insight into China's:
- Tax Residency Rules;
- Individual Income Tax;
- Social Insurance;
- Labor Contracts Management.