Russian E-Commerce Online Sales Increased 40% In 2021
Russia is the world’s ninth largest e-commerce market and has plenty of room for growth
Russia’s leading e-commerce companies have announced impressive results for 2021 — continuing their rapid growth since the start of the coronavirus pandemic even as traditional brick-and-mortar shops had fully reopened. Russia’s online retail market expanded by 40% over the year, according to preliminary estimates by Infoline. Market leaders Wildberries, Nasdaq-listed Ozon, and the international platform AliExpress Russia all significantly overperformed.
New “home office law package” in Hungary
Working from home in Hungary
The updated rules on teleworking in the Labor Code will cover both full-time and part-time work from home.
With regard to teleworking with their own working equipment, in their own home and using their own resources (heating, electricity, Internet etc.), the Personal Income Tax Act has been extended to include a new form of payment which is exempt from personal income tax: the so-called “lump sum cost reimbursement”.
Baltic Business Brochure
The bnt Baltic Business Brochure provides information about upcoming investment projects in the Baltic States.
With offices in Estonia, Latvia and Lithuania, bnt attorneys in CEE covers this region in all relevant areas:
- business law, including corporate/M&A
- commercial and contract law
- litigation and arbitration
- tax and administrative/procurement
Philippines Introduces New Economic Zone Authority Visa for Foreigners
In November 2021, the Philippines Economic Zone Authority (PEZA) introduced a new work visa for foreigners who are sponsored to work in the Philippines by companies registered with PEZA.
Under the new PEZA visa, foreign investors and workers must now obtain a PEZA visa in lieu of 47(a)(2) visas. The PEZA applications are processed within 10 business days (from the previous time of 1 month) and the visa is valid for up to two years with the option of renewing once for another two years, for a maximum validity period of four years.
An Introduction to Doing Business in India 2022
Doing Business in India 2022 is designed to introduce the fundamentals of investing in India. Compiled by the professionals at Dezan Shira & Associates in December 2021, this comprehensive guide is ideal not only for businesses looking to enter the Indian market, but also for companies who already have a presence here and want to keep up to date with the most recent and relevant policy changes.
Doing Business in India 2022 covers the following:
- Corporate Establishment
- India’s Investment Climate
- Tax, Audit, and Accounting
- Human Resources and Payroll
ASEAN Talent and HR Compensation Benchmarking
As the fifth largest economy in the world — the quality of human resources is a vital ingredient to sustain the development and competitiveness of ASEAN member states.
An Introduction to Doing Business in ASEAN 2022
This publication is designed to introduce the fundamentals of investing in all ten ASEAN countries and includes a guide to corporate establishment, tax advisory, and bookkeeping, in addition to HR and payroll, double tax agreements, and audit and compliance.
The Real Cost of a Bad Hire
Marcus Honkanen, Founder, Nordic Minds
Not everyone who doesn’t meet the set expectations within their first week can be categorized as a bad hire. Nor should they be. A learning curve and adaption are part of the onboarding process and growth.
A truly bad hire, however, emerges as someone who has a negative impact on productivity, performance, culture, and people within the organization. At worst, they engage in harmful behavior and negatively affect their surroundings. In short: they become toxic and quick action is needed.
How to view Covid-19 within the context of employment relationships in the Czech Republic
The Covid-19 pandemic has thrust employers into a frightfully complicated situation. The number of infected individuals has been steadily on the rise, and the extraordinary measures implemented by the executive are fast-paced and ever-changing. A clear legal framework for the protection of health at workplaces is missing. All these things form the backdrop of most employers’ “new normal”. This article provides an overview of selected legal institutions which may help alleviate employers’ burden associated with the organization of work under the current circumstances.
Cambodia Extends Deadline for Foreign Employee Quota Application
Cambodia has extended the deadline for the foreign employee quota application to January 31, 2022, two months after the original deadline.
Businesses in Cambodia employing or intending to employ foreign employees must apply for a foreign employee quota to the Ministry of Labor and Vocational Training (MLVT). The MLVT imposes a maximum 10 percent quota of an employer’s total workforce for the use of foreign employees.
Vietnam’s New Normal: The Hybrid Work Strategy
- The hybrid work strategy will likely be a key feature in Vietnam’s new normal as it reopens its economy.
- Businesses that embrace this model are likely to find long terms gains including finding and retention of talent.
- While there will be challenges, businesses that adapt will have a competitive advantage in the long term.
Since the pandemic, a new work model has been permeating offices worldwide. The hybrid workplace is a relatively new model that has allowed employees to work from home while allowing them to come to the office depending on the pandemic situation and movement restrictions.
RUSSIA: DEMAND FOR TALENT HAS INCREASED SIGNIFICANTLY THIS YEAR
Christian Tegethoff, Managing Director CT Executive Search
What is the outlook for the Russian executive market?
In Russia, we work mainly with larger middle-sized companies, mostly from Western Europe. Many of these clients are active in the industrial sector - for example in mechanical or plant engineering, the manufacture of technical components, or the construction-related sector. There are also manufacturers of consumer goods and retailers.
We are often tasked with the recruitment of managing directors who have experience in setting up and running sales companies.
RUSSIA: HUGE DEMAND FOR PRODUCTION FACILITIES
Oliver Cescotti, Member of the supervisory board of the Russian company Mikrobiogel and Board Member of the German-Russian Chamber of Commerce Abroad (AHK Russia)
What impact did the pandemic have on business, what government support was there?
There was no government support worth mentioning and we did not apply for anything. Because 2020 was actually a record year and the most successful of my fifteen years at the GEA! Despite all the supply chain challenges and the considerable devaluation of the rouble, we completed the projects on time and ensured a high level of profitability for the business.
China Labor Shortage – HR Strategies to Remain a Competitive Employer
The China labor shortage is driving companies to reassess their HR policies to improve worker retention. This article discusses how the labor crunch is impacting China hiring practices and the strategies companies can adopt to remain competitive.
China is in the midst of a growing labor shortage that is placing increased pressure on the manufacturing industry. While similar shortages are being felt by many countries around the world as workers fail to return to the workplace due to persistent fears of the COVID-19 pandemic and changing attitudes toward the nature of work, China’s current predicament is part of a longer-term trend.
RUSSIA: NOT EVERYTHING WORKS ONLINE"
Eugen Alles, Managing Director, Messe Frankfurt Russia
What are the expectations for 2022?
We expect to break even again. In 2022, we will increasingly rely on exhibitors from Europe. The Federal Ministry for Economic Affairs and Energy (BMWi) is again planning many funding fairs, six of which are in our home alone. There are similar programs from Italian and Polish institutions. There should also be more exhibitors and visitors from Turkey.
RUSSIA: HR TRENDS IN PANDEMIC TIMES
Press release on joint CT Executive Search and BCCLR webinar
The webinar held on 10 November 2021 drew together representatives of companies based in Russia and those looking to expand their operations into the country.
Christian Tegethoff, Founder, and Managing Director, CT Executive Search then delved into the ongoing HR trends in Russia. The Founder of CT Executive Search shared some insights into the current requirements of companies based in Russia, when it comes to executive search. He also gave an overview of the current salary trends across Russia and provided participants with valuable tips on how to identify the right candidates for top management positions. Finally, Mr. Tegethoff presented the results of the recent HR Russia Survey conducted by CT Executive Search and CCBLR, in which companies opened up about their current and future turnover, as well as staffing strategies for 2022.
RUSSIA HR SURVEY Results
CT Executive Search and the Belgian Luxembourg Chamber of Commerce in Russia carried out a joint survey to get a feel of the current HR and business environment in Russia. This survey was done between late October and mid-November 2021, and the results are in. So:
- How many companies recorded an increase in revenue in 2021?
- Who will be expecting higher turnovers in 2022?
- Who will be recruiting and how many companies will be letting their employees go?
- Will companies be increasing salaries in 2022?
You'll find the answers to these questions in this survey.
Current HR and executive search trends in Russia
What are the current HR trends in Russia, and what should companies look out for in 2022 and beyond? Christian Tegethoff, Managing Director, CT Executive Search takes a close look at talent acquisition, development and retention, executive search, and employee benefits in Russia, shedding more light on:
- Salaries in various Russian regions
- Employee tax
- The top 4 HR trends in Russia
- Executive search - how to identify the right candidate
Employment law in Russia: business and work visas, residence permits
Employment law in Belgium: business and work visas, residence permits
Philippe Borremans, International Affairs Manager, GROUP S
What does a Russian company looking to expand its business operations into Belgium need to know about establishing a business and work visas for its foreign employees? Philippe Borremans from GROUP S sheds more light on that covering issues pertaining to:
- Employer obligations
- Requirements to hire an employee
- Hiring Russian expats
GERMANY AND TURKEY – A CLOSE ECONOMIC FRIENDSHIP
CT Executive Search Press Release
What are the current HR trends and what business opportunities can German companies look forward to in Turkey?
“German companies understand Turkey’s potential very well. In Turkey, too, they are looking for highly qualified managers who can work successfully on the local market while being familiar with the specifics of an international company. We specialize in identifying and recruiting such candidates. While working in Turkey, we can count on the active support of our senior advisor Dr. Markus C. Slevogt, who has an excellent local contact network and is one of the central protagonists of German-Turkish economic relations.” – says Christian Tegethoff, Managing Director, CT Executive Search.
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.
WEBINAR - Doing Business in Russia: HR Trends, Legal Aspects and Investment Opportunities
As the world continues to adapt to doing business in the new normal, what should Belgian, Russian and Luxembourg companies with operations in Russia expect in terms of business operations? What are the current HR, executive recruitment and talent retention trends? How far has Russia's employment law come in accommodating new trends such as remote and hybrid work?
These are the questions that will be answered in detail at the upcoming webinar titled - Doing Business in Russia: HR Trends, Legal Aspects and Investment Opportunities.
Date: Wednesday, 10 November 2021
Time: 15:30 Moscow time| 13:30 CET
Registration: Click here
Oleg Prozorov, CEO, Member of the Board, Belgian-Luxembourg Chamber of Commerce in Russia (CCLBR); Managing Director, Member of the Board, Belgian-Luxembourg Chamber of Commerce for Russia and Belarus
Stefan Van Doorslaer, CEO, Ahlers; President, Belgian Luxembourg Chamber of Commerce for Russia and Belarus (BLRB)
Christian Tegethoff, Managing Director, CT Executive Search
Erzhena Kharmaeva, Senior lawyer, Juralink
Philippe Borremans, International Affairs Manager, GROUP S
Don't miss this opportunity to get ready for what's to come!
Participate in our HR survey!
As the world emerges from the COVID-19 pandemic, what business and HR strategies are you adopting to continue successfully operating in the post-pandemic world?
Please take this anonymous 2-minute survey on Doing Business in Russia.
This is a joint survey conducted by The Belgian-Luxembourg Chamber of Commerce in the Russian Federation (CCBLR) and CT Executive Search. The aim of this survey is to help us better understand how companies in Russia are adapting to the new normal, and how we can help facilitate productive business operations in Russia in 2022 and beyond.
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
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.