GCC COUNTRIES HAVE IMPLEMENTED GROUNDBREAKING MEGAPROJECTS
Helene Rang, Managing Director, German Near and Middle East Association (NUMOV)
Industry-wise what companies will find the GCC region most attractive?
The health and ecommerce sectors are definitely quite lucrative at this point. However, given the current economic strategies being implemented, other areas are also of considerable interest.
These include renewable energies, energy efficiency, water management, innovative technologies in the construction industry, mechanical and plant engineering, IT, the technology sector (including the development and implementation of artificial technology), as well as the services sector.
GCC Region: LOCAL TALENT IS SCARCE
Aouni Kawas, Managing Partner, Kawas Consulting and Director of the CT Executive Search regional hub office in Beirut, Lebanon.
In terms of executive recruitment, what kind of assignments do you mainly handle in the GCC countries?
We assist our local clients in recruiting various top management personnel. This includes the recruitment of Chief Operations Officers (COOs) for construction companies, Chief Executive Officers (CEOs) for facility management organizations, as well as Engineering Managers for IT/Software companies.
In cooperation with our international colleagues from CT Executive Search, we also recruit for management positions in European companies across the GCC region.
HR REALITY & TRENDS IN THE GCC
Zahi Mimassi, Founder and CEO, Phoenix Consulting International
What makes the HR market in the United Arab Emirates special compared to other locations?
The Emirati HR market has developed faster than other GCC markets. This development was driven by the maturity of the organizations and advancement of their HR structures, which are more evident in UAE-based businesses and are influenced by a couple of factors:
1) The prevalent presence of expatriates in UAE-based organizations who brought with them best practices from global firms.
2) The presence of global consulting firms established in Dubai as the main hub.
Romania: The Nearshoring Opportunity
CT Executive Search Press release
On 23 September, representatives of over 50 multinational companies joined the webinar organised by AHK Romania, CT Executive Search, Elite Searchers and STALFORT.Legal.Tax.Audit, to find out what Romania has to offer in terms of nearshoring, executive recruitment, and business development.
Christian Tegethoff, Managing Director and Founder, CT Executive Search spoke about the company’s executive recruitment experiences in Romania. He talked about what’s driving the demand for executives, as well as the outlook for the executive recruitment of locals and expatriates. He also shed more light on the HR trends and well as the executive recruitment opportunities in companies who are looking to Romania as a nearshoring partner.
CT Executive Search would like to thank Germany Trade and Invest (GTAI), Ost-Ausschuss der Deutschen Wirtschaft and Bundesverband mittelständische Wirtschaft (BVMW) for supporting the webinar as information partners.
Dr. Markus C. Slevogt joins the CT Executive advisory board
CT Executive Search Press Release
The management of CT Executive Search is pleased to announce that Dr. Markus C. Slevogt has joined the company's advisory board.
Dr. Markus C. Slevogt is a board member of the Turkish family company Erciyas Çelik Boru A.Ş. (manufacturing, energy, services) and independent board member in AkçanSA, a stock exchange-listed joint venture between HeidelbergCement and Sabancı Holding. He is also a board member of the consulting firm Amarkon Group and acting president of the German-Turkish Chamber of Commerce and Industry (AHK). Dr. Slevogt lives in Istanbul.
THE INDO-GERMAN MAGAZINE 4/21
The Indo-German Magazine features the latest information regarding the Indian economy. This includes the latest trends and developments in Indo-German cooperation as well as the various activities and initiatives undertaken by AHK India.
As a member of the Chamber, CT Executive Search is proud to support the association's initiative to promote doing business in India.
To view the magazine, click here
Human Resources and Payroll in China 2021-2022
A firm understanding of China’s laws and regulations related to human resources and payroll management is absolutely necessary for foreign businesses in China. This special edition of HR and Payroll, updated for 2021/22, navigates China’s newest laws and regulations related to HR and payroll management – essential information for foreign investors looking to establish or already running a foreign-invested entity in China.
Teamwork – Why You Can't Afford To Be A Solo Fighter On The Job
The myth of the ultra-competitive, singular high performer is just that: a myth. If you want to advance in your career and make a real difference, you have to work constructively with others. After all, teamwork is the key to success. And ultimately, successful collaboration is not rocket science – if you keep a few things in mind.
China’s New Personal Information Protection Law: Impact on Employment Management
On August 20, 2021, the Personal Information Protection Law (hereinafter referred to as PIPL) was officially promulgated and will come into force on November 1, 2021. As a special legislation in the personal information protection field, the PIPL puts forward more detailed obligations on employers – as personal information processors – by incorporating special chapters and clauses.
What is considered personal information in China?
Personal information, which is referred to as “personal identifiable information” in the US or “personal data” in the EU, pertains to various kinds of information that is related to any identified or identifiable natural persons as recorded by electronic or other means.
PRODUCTION-RELATED POSITIONS REQUIRE A LOT OF RESEARCH
Christian Tegethoff, Managing Director, CT Executive Search
What is the current situation on the Romanian labor market?
The past year has also brought many challenges in Romania, with employees and companies having to adapt to lockdowns and contact restrictions. This is why the way people work and communicate has changed here too.
As a result, digitization has accelerated again; remote work is now also established in Romania and it has so far not been seen that all companies will simply return to the present models of the pre-Corona period. Because many employees appreciate the greater flexibility that results from working from home or various mixed models of face-to-face and homework.
IN COMPARISON TO OTHER EU COUNTRIES, THE TAX RATES ARE LOW
Adina Zdru, Tax Advisor and Managing Partner Tax, and Christian Weident, Lawyer and Managing Partner Legal, Stalfort.Legal.Tax.Audit
Special features of labor law
The provisions of Romanian labor law differ greatly from those of other countries. Since employees are also not allowed to waive statutory rights due to the Labor Code (rum: Codul Muncii), many provisions that are customary elsewhere cannot easily be used in employment contracts. Employment contracts must also be drawn up on the basis of a legally regulated template. Supplements, which are often required in practice, must be carefully designed so as not to be illegal, and thus, void.
THINGS ARE FUN AGAIN
Andreas Lier, CEO, BASF Romania
How is BASF Romania positioned? Which target industries do you serve and what are the drivers of the business?
As BASF, we have a broad base in a country with a very diversified economy. We are active in almost all value chains and feel the pulse of the industry every day. We are in the agricultural sector with our crop protection products, in the home and personal care sector, and in the nutrition & health sector. We also have products for the chemical, refineries and construction industries.
Due Process for Terminating an Employee in India
Employers in India are exposed to a number of legal and reputational risks resulting from wrongful termination, or not following due process.
Employers should, therefore, plan to construct contracts and human resource (HR) materials to ensure that senior management, HR personnel, and employees are fully apprised of their rights and responsibilities.
“996” is Ruled Illegal: Understanding China’s Changing Labor System
China’s top court has ruled that the controversial “996” overtime work policy (working 9am to 9pm, 6 days a week) is illegal, taking aim at the excessive working hours commonly practiced at Chinese Internet companies.
On August 26, 2021, the Supreme People’s Court (SPC) and Ministry of Human Resources and Social Security (MOHRSS) jointly released a guideline illustrating 10 typical cases of overtime work, all of which were won by employees. The authorities unpacked the legal basis behind the verdict of each case.
ASEAN Talent and HR Compensation Benchmarking – Latest Issue of ASEAN Briefing Magazine
In this issue of the ASEAN Briefing magazine, Dezan Shira & Associates give an overview of current talent availability in ASEAN, and future factors that will impact human resource development in the region. It then explores hiring costs in the bloc before finally focusing on the industrialization plans of select ASEAN members. Topics covered include:
- Assessing Current Talent in ASEAN
- Hiring Costs in ASEAN
- Assessing ASEAN’s Industrialization Plans
- Q+A: What You Need to Know About ASEAN’s Human Resource Landscape
How to Prepare a Foreign Worker Utilization Plan: Hiring in Indonesia
On March 31, 2021, Indonesia’s Ministry of Manpower issued Regulation No. 8 of 2021 (MOM Reg 8/2021) on the Employment of Foreign Workers. MOM Reg 8/2021 is an implementing regulation to GR 34/2021 and provides in detail the requirements for businesses to fulfill in order to hire foreign workers. MOM Reg 8/2021 revokes MOM Reg 10/2018 and has been enforced since April 1, 2021.
Eurasian Economic Union Economy Recovering, Manufacturing Output Up 6.5%
The EAEU has Free Trade Agreements with Serbia, Singapore and Vietnam and is negotiating with numerous other countries in the ASEAN, MENA and MERCASUR blocs as well as with China and India. Economic recovery in the EAEU will be good news for the EAEU current free trade partners and for those negotiating with it.
China’s Ministry of Commerce Research Paper Suggests Russia’s New Energy Vehicle Market Is A Huge Cooperation Opportunity
China’s Ministry of Commerce has released a research paper that has identified the Russian market as an ideal export and cooperation area in the New-Energy Vehicle sector. This development, given time, will likely open a new front in China-Russia auto industry cooperation. New Energy Vehicles include electric, hydrogen, and other petrol or diesel alternatives. Russia has some of the world’s largest supplies of LNG.
Let's talk about building sustainable habits
Joana da Silva, Nordic Minds
Each company is unique so there is no one size fits all approach towards sustainability and what works for one company might be the most counterproductive idea for another. There are a series of steps that can be taken to define and deploy the sustainability goals of an enterprise, this method might even lead to a paradigm shift and ideally works as a long-term solution.
GBA IIT Subsidy in Shenzhen: Updated Application Rules and Deadline
This article explains the major changes to Shenzhen’s latest implementation rules for the GBA IIT subsidy application, as well as the impact they may have on applicants. It also offers advice on how to prepare to ensure a smooth application process.
Major changes to Shenzhen’s IIT subsidy application rules
Shenzhen’s 2020 Application Guide has two main updates from the 2019 IIT subsidy application implementation rules:
- Minimum taxable income requirements removed for foreign talents – the eligibility requirement for foreign talents to earn more than RMB 500,000 in taxable income is not mentioned in Shenzhen’s 2020 Application Guide.
Vietnam’s Entry Procedures for Foreign Employees amid the Pandemic
Vietnam on March 22, 2020, suspended the entry of all foreign visitors including those with visa exemption certificates in a bid to contain the COVID-19 pandemic. Subsequently, it suspended all international flights by March 25, 2020, effectively locking out visitors and business professionals except for Vietnamese nationals returning on special repatriation flights.
Vietnam’s government, however, has allowed diplomats, officials, business experts, managers, highly skilled workers, and students to come to Vietnam provided they meet the necessary requirements.
Uzbekistan is like a promising project
Hovsep Voskanyan, Head of the Delegation of German Economy in Central Asia (AHK Zentralasien)
How is the German economy represented in Central Asia today?
We assume that around 300 German companies are active in Kazakhstan and 200 in Uzbekistan. Many operate sales offices and representative offices, which are often looked after from the subsidiaries in Russia.
In Kazakhstan, we have 25 investment projects with a total volume of 1 billion euros; Knauf, Heidelberg Cement and Linde Gas are among the companies that are active locally. In addition, there are medium-sized companies such as Wilo and Isoplus, which also got through the pandemic well.
COSTS FOR SALES DEVELOPMENT ARE LOW
Christian Tegethoff, Managing Director, CT Executive Search
What are the prospects for finding qualified and motivated employees?
The prerequisites for recruiting suitable employees are favorable in Central Asia. In Kazakhstan, there are now a large number of managers with professional experience in international companies who have the linguistic and intercultural skills to work in European companies.
Compared to many other countries, including Russia and China, the costs of setting up and maintaining a local sales organization are low. If specialists cannot be found locally, recruiting Russian experts can also be considered.
TRUST COUNTS MORE THAN WRITTEN CONTRACTS
Stefan Martiniak, member of the supervisory board of the First MicroFinance Institution
What would you recommend to a company interested in the region?
Anyone who is interested in Central Asia, and this is where I see the typical German medium-sized company, in particular, should conduct thorough market research. Every potential investor should be able to keep his financial commitment in Kyrgyzstan for several years. Employees deployed on site should know the region or at least speak Russian, that makes things easier. Choosing a reliable local partner is important, personal contact is crucial. Trust counts more than written contracts.
GEORG GRAF JOINS THE CT EXECUTIVE SEARCH ADVISORY BOARD
CT Executive Search Press Release
The management of CT Executive Search is pleased to announce that Mr. Georg Graf, Regional Representative of Freudenberg Group in India, MD and CEO of the Freudenberg Regional Corporate Center India Pvt. Ltd., has joined the company’s Advisory Board.
Mr. Georg Graf is a well-known and respected figure both in government and business circles. With a career in finance and executive level management spanning over 35 years, and a wide network of top professionals from all over the world, including Germany and India, he will provide invaluable insight into doing business in these two countries.
“India remains one of the fastest growing economies in the world, and we continue to offer executive search services to many of the companies based there, as well as to those looking to enter the market. We are honoured to have Mr. Graf as our esteemed Advisory Board member. His expertise both in corporate management and intercultural relations is invaluable, and will definitely help take our executive search services to the next level.” – says Christian Tegethoff, Founder and Managing Director, CT Executive Search