Challenges of Traditional HR and Payroll Management in Post-COVID Era
China Briefing by Dezan Shira & Associates
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
India briefing by Dezan Shira & Associates
India’s new labor codes make hiring decisions more flexible for companies, reduce the labor compliance burden, and ensure that labor unions give 60 days’ strike notice.
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
Dr. Michael Zipfel, General Director, Transgourmet Holding companies SELGROS Cash & Carry and Global Foods,
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
On 24th March 2021 CT Executive Search and Rödl & Partner India held a joint webinar on the current legal and HR trends in India.
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
Vietnam Briefing by Dezan Shira & Associates
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
China Briefing by Dezan Shira & Associates
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
India Briefing by Dezan Shira & Associates
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
Georg Graf, Regional Representative for India, Freudenberg Group
- How do corporates assess the new labor code;
- SWOT India: Assessment 2021: Key Highlights of the New Labour Codes impact;
- Revamping the Labour Laws in India.
China Relaxes Entry Restrictions for Foreigners Inoculated with Chinese Vaccines
China Briefing by Dezan Shira & Associates
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;
- Deductions;
- Social Insurance;
- Labor Contracts Management.
Executive recruitment in China
Christian Tegethoff, Managing Director, CT Executive Search
What's the outlook for China in 2021 in terms of business development and HR? Christian Tegethoff, Managing Director and Founder, CT Executive Search sheds more light on China's:
- Current state of the economy;
- HR trends post COVID-19;
- Top 5 HR trends in 2021;
- Executive search.
Online Webinar: HR Trends in China - Executive Recruitment, Income Tax, Labour Contracts, Benefits
Joint webinar by CT Executive Search and Dezan Shira & Associates
What does working in China entail? What’s the prognosis in terms of executive recruitment? And what should HR departments and potential employees expect when it comes to benefits, taxation, and the employment of foreign nationals?
These and other HR related questions will be discussed in detail during the joint Dezan Shira & Associates and CT Executive Search webinar.
Date: 18 March 2021
Time: 9:00 am – 10:00 am CET (Berlin time)/16:00 – 17:00 CST (China time)
Participation: free of charge
Register here
Speakers:
- Riccardo Benussi, Head of European Business Development, Dezan Shira & Associates
- Christian Tegethoff, Managing Director, CT Executive Search
Topics covered include:
- Trends in executive search and opportunities for expatriates in China;
- Taxes and insurances: Tax residency rules; Individual Income Tax (IIT) for locals, foreigners; IIT deductions and benefits; Social Insurance and Housing Fund;
- Guidance and key considerations in drafting a labor contract
Bringing on board the right Managing Director is critical
Roundtable discussion with Christian Tegethoff, Managing Director, CT Executive Search, and Arjun Erry, Partner, Hunt Partners
Arjun, can you comment on the recruitment activity of foreign companies in the last twelve months? How do you see the market developing in 2021?
Arjun Erry: As we look back at our mandates over 2020, the threads we can discern are the acceleration of succession planning and the continued appetite for executive recruitment in niche sectors.
In both of these situations, the ownership of the company i.e., foreign or domestic, did not have a material bearing. We observed and participated in several situations where the organizations viewed the pandemic as a catalyst for making transformative changes to their executive leadership.
India is an entrepreneur-friendly country
Ursula Hoffmann, Senior Consultant at Roedl & Partner India‘s office in Mumbai
What innovations will the Indian labor law reform bring?
After 20 long years, the Indian Government has finally passed labor law reforms that are intended to codify the outdated and socialist labor laws and, above all, make them uniform. This long-awaited step is intended to resolve the tension between employer and employee interests. The new regulations are only able to achieve this to a limited extent.
As of April 2021, four new Labor Codes are expected to come into force in India, which will unify a total of 29 individual Acts:
- Code of Wages, 2019;
- Code of Social Security, 2020;
- Occupational Safety, Health and Working Conditions Code, 2020; and
- Industrial Relations Code, 2020.
India is THE market to be in
Georg Graf, Regional Representative for India, Freudenberg Group
What’s your economic outlook for 2021? The Union Budget 2021-22 is seen as an overall pro-growth budget and was presented for the first time in a digital format. This budget has not only received a “thumbs up” from the stock markets, but also from the people and industry, as it does not intend to raise additional taxes.
Unpredictable circumstances, foreign direct investments lower than expected, a difficult economic environment and the global pandemic are addressed in the Union Budget.
The 2021 Economic Survey predicts that India‘s economy will contract by 7-8% in 2020-21, and will recover by 10-12% during 2021-22 only if there is a nationwide vaccination and a rebound in consumer demand.
BUSINESS OPPORTUNITIES AND HR TRENDS IN UAE
CT Executive Search Updates
On the 23rd of February IHK Karlsruhe held a webinar on the business opportunities and HR trends in UAE.
Moderated by Stanislav Fromm, Senior Consultant Foreign Trade, Foreign Trade and International Relations, the event began with an opening address from Robert W. Huber, Chairman, Foreign Trade Committee, IHK Karlsruhe.
Christian Tegethoff, Managing Director, CT Executive Search focused on the current HR trends, an overview of the labour market and recruitment of executives in the Gulf States.
IRAN: The trend is becoming increasingly positive
Dr. Alireza Azimzadeh, Founder, Persia Associates, Persia Consulting and Persia Financial
How do European companies currently operate in Iran?
For the past three years, companies have mainly waited and hoped that business could go on at some point.
We manage a large number of „sleeping“ subsidiaries in legal and accounting terms. The central point is the representation vis-à-vis the tax authorities. These corporate hulls can be reactivated at any time if the parent company wants to resume operations in Iran.
FIRST EMPLOYER TO KICK OUT VACCINATION REFUSERS
Are employers entitled to impose a corona vaccination?
Labour law sanctions in case of refusal of vaccination
Can employees who refuse vaccination be faced with sanctions under labour law? According to the press in recent days, there have already been the first terminations of employment.
Employers in China Should Prepare for Compliance Expectations Under Draft PIPL
The purpose and necessity of legislation for personal information protection is simple and straightforward, that is, it is our right as individuals to have our personal information and privacy protected, especially given the speedily developing electronic world with widely used networks. Yet, the laws protecting personal information are not simple for us to digest; you may agree with the complexity if you have reviewed or studied, for example, the General Data Protection Regulation (“GDPR”) of the European Union.
India’s New Industrial Relations Code and its Impact on Labor Law
The IR Code is one of four new labor codes introduced for the purpose of simplifying and consolidating the country’s matrix of labor laws, which in turn will make it easier to comply with for foreign investors and the private sector.
Altogether, the four codes look at introducing uniformity in rules and regulations relating to wages, industrial relations, social security, and occupational safety and health to be in line with international best practices.
Iran's HR Sector: Momentum can develop quickly
Christian Tegethoff, Managing Director, CT Executive Search
How does executive search in Iran differ from other countries?
Companies that want to invest in Iran are now in a better position to do so, from an HR perspective, than during the boom in 2016 and 2017. Back then, the HR market belonged to the candidates. Today, it is on the side of the employer.
Attracting and retaining motivated and highly qualified employees to executive positions is therefore relatively easy for foreign companies. However, the number of executives available in Iran who are qualified to work in an international company is relatively small.
Digital nomads will find their legal basis in Slovakia
Slovakia modernises ‘home office’ rules under Employment Law. Digital nomads, or the choice of any place of work in employment contract by employees, will become a reality.
The amendment to the Labor Code, which is already before the Slovak Parliament, will significantly modernise the legal institution of ‘home office’. Due to new modern trends, where the permanent presence of employees at the workplace is increasingly dispensed with, the conditions for home office work will be redefined. A home office will no longer be seen as just working from home, but rather employees will have a way to determine their own working hours and actual work location. Digital nomads who move around the world (without having a home) and working from anywhere will finally find their legal basis. In addition, the employer will have to share the costs of employees associated with a home office, such as BYOD costs, electricity costs, high-speed internet, and so on.
