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
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.
Lithuania: Employers must ensure proper procedures for terminating employment agreements
Failing to follow the requirements for proper termination of employment agreements can prove very costly to employers.
It’s been almost 5 years since adoption of Lithuania’s new labour code. It seems that employers have long been familiar with the new regulation the labour code brought. However, our experience clearly shows that sometimes employers do not pay attention to existing laws and their negligence costs them dearly. In this article we remind employers what must be considered in order to avoid costly consequences for non-compliance with current legislation.
This Is How Data Improves Executive Search
We live in a time when almost all facts can be expressed in data. This enables us to create vast amounts of links and to recognize correlations with corresponding underlying assumptions. Without a doubt, data is a crucial source of input for decision-making. This, of course, includes executive search.
The use of data in the field of HR has many facets...
How to Deal with Labor Disputes Under the Shanghai Lockdown: FAQs
China’s labor regulations are designed to maintain social stability by balancing the rights of the employers and employees – a top priority for Beijing.
However, during the COVID-19 pandemic, the country’s labor legislation has been subject to various stress tests as existing legal enforcement practices may be viewed as inadequate to sufficiently address such unique circumstances.
Survey: HR Trends in China
HR trends continue to change to adapt to the new normal. Remote work and hybrid work have had a significant impact on salaries, expatriate and executive recruitment.
So how will this affect the DACH companies doing business with China?
Please take this 1-minute survey in German, on HR trends in China.
This joint survey designed by Dezan Shira and Associates and CT Executive Search, will tell us more about what recruitment and salary trends companies from the DACH region with business operations in China can expect in 2022 and 2023.
The results of the survey will be made available to all respondents, and shared at our upcoming webinar titled "HR update on China: Labour Market, Executive Search and Remote Work".
Assessing the Current Human Resources Talent Pool in ASEAN
Foreign investors looking at ASEAN need to understand the availability of talent and regulatory conditions as it exists in each member state. A regional bloc with over 600 million people, ASEAN is endowed with a diverse workforce, but these are spread across different levels of the developmental spectrum.
Germany and Poland – the perfect economic duo?
CT Executive Search Press Release
These are the questions that were addressed in detail at the webinar titled, “Focus on Poland: Current Business and HR trends”, organised by CT Executive Search and supported by the German-Polish Chamber of Commerce and Industry (AHK Poland).
Moderated by Christian Tegethoff, Managing Director, CT Executive Search, the webinar began with an overview of the current economic trends in Poland.
Lithuania: Many employment contracts become partially null and void
If employers want to reduce statutory daily allowances from 1 July 2022, the reduction must now be provided for in a collective agreement. An individual agreement, such as an employment contract, will be void in the future.
In Lithuania, employers are required by law to pay daily allowances for business trips. These statutory daily allowances could previously be reduced by up to 50% in a collective agreement or in an individual employment contract – which was very often used.
Guangzhou’s New Measures for Handling Foreigner’s Work Permit: What Are the Updates？
Guangzhou has announced new measures for handling foreigner’s work permit applications.
On March 15, 2022, the Guangzhou Science and Technology Bureau printed and announced Several Measures on Further Streamlining the Handling of Permits for Foreigners Seeking to Work in China (hereinafter referred to as the “New Measures”), in a move to simplify and standardize the handling of foreigner’s work permits in Guangzhou and thus improve Guangzhou’s business environment and attract more talents to work in the Greater Bay Area (GBA).
Compared to the currently effective Guidelines for Applying for Work Permits for Foreigners in Guangzhou (2020), the New Measures proposed several new policies that aim to make it easier for foreigners to apply for a work permit in Guangzhou.
How to Structure a Salary in India: Key Components
Salary structure in India: Key terms
A salary structure aims to lay out the anatomy of the salary being offered in terms of the different components constituting the compensation plan. From the employee’s perspective, it is imperative to have basic knowledge of the different components of their salary to plan their finances with an aim to maximize their claims on the various tax exemptions available to them.
Doing Business in Indonesia 2022
This publication, designed to introduce the fundamentals of investing in Indonesia, was compiled by the experts at Dezan Shira & Associates, a specialist foreign direct investment practice, providing corporate establishment, business intelligence, tax advisory and compliance, accounting, payroll, due diligence and ﬁnancial review services to multinationals investing in emerging Asia.
Amongst others, it covers:
- Human resources and payroll;
- Audit and compliance
- Import and Export
Singapore to Implement New Points System for Employment Pass Applicants From 2023
Singapore will introduce a new points system for Employment Pass (EP) applicants from 2023, in addition to higher qualifying salary thresholds.
The government hopes that the new system – laid out under the Complementarity Assessment Framework (COMPASS) – will improve the capacity of Singaporean businesses to select high-quality foreign professionals and ensure workforce diversity.
The business magazine of the Indo-German Chamber of Commerce| Volume 66 | Issue 01, 2022
The Indo-German Magazine contains all the information about the latest trends and developments in Indo-German cooperation as well as the various activities and initiatives of the Chamber.
- Indo-German Trade
- ‘Living the Human’ in Human Resources
- Post Harvest Losses
- Union Budget Highlights
The Basics of Employing People in China and the UK (Part One)
An exclusive series focusing on the basics of employment in China and the UK.
In the first introductory videos, Legal Advisory Manager at Dezan Shira & Associates, Donfil Huang, and Partner at Laytons, Nicholas Lakeland, share introductory legal knowledge around employing foreigners in China and the UK. Foreign entities operating in China and the UK must understand the basics of employing foreigners to ensure overall compliance.
How an entrepreneurial mindset can boost your career
Manufacturing in Vietnam: Key Labor Concerns and How to Optimize Your HR Strategy
Vietnam Briefing discusses key labor concerns for businesses in the manufacturing industry, particularly as the country opens up and businesses look to actively recruit labor to meet production targets. With manufacturing taking the lead in FDI investment, we look at how businesses can be competitive using efficient HR strategies.
Among the advantages of choosing Vietnam as an investment destination, it would be remiss not to mention Vietnam’s abundant workforce and competitive labor cost. However, the current growing labor demand in manufacturing companies may also raise concerns for businesses interested in setting up their manufacturing hubs in the country.
Why business ethics should be at the heart of every company
What is the rationale for investing in business ethics?
1. Internal: a transparent, authentic, and value-based company culture improves morale. When employees experience daily that business ethics is taken seriously and not just an empty phrase, they will be more involved.
2. External: positive customer relationships lead to a better reputation and a stronger brand – which not only impacts business, but also recruitment.