A Guide to Singapore’s Labor Law
The field of human resource management in Singapore has undergone significant advancements in response to the dynamic and competitive market environment, especially from the mid-1990s onwards. National-level policies and strategies have been devised to optimize the utilization of human capital and facilitate substantial transformation. The Singaporean government has consistently advocated for a centralized approach to human resource management, while foreign investment has continued to play a significant role in shaping the landscape.
The Power of Knowledge Management in Recruiting Top Talent
When we reach out to potential candidates, having access to tailored templates and adaptable models for candidate outreach can save time and ensure a consistent, yet specific approach across different candidates and searches. Nowadays, quick and relevant communication is expected. And knowledge management ensures that it can be delivered.
...strategic information and knowledge management in recruiting top talent not only saves us an enormous amount of time but also ensures quality, reliability, consistency, efficiency – and success.
Wage costs are increasing noticeably and steadily
René Harun Managing Director AHK Services, Subsidiary of the German-Czech Chamber of Industry and Commerce (AHK), Prague
What impact does the Czech Republic have on the German economy?
The Czech Republic's impact on the German economy is grossly understated. This could be for a number of reasons, amongst which are the lack of relevant media coverage, and preference being given to the supposedly more "exotic" countries such as Russia, China, Iran, or South America. In the end, many tend to forget that the Czech Republic plays a significant role in the development of the German economy. The country is Germany's tenth most important foreign trade partner, with a new foreign trade record of 113 billion euros in 2022.
I have a long candidate blacklist
Lubica Zaťková Assignment Manager Czech Republic & Slovakia at CT Executive Search, Prague
How difficult is it to find the right candidates in the Czech market?
Of course, it strongly depends on the position to be filled. However, in general, I can say that it is very difficult in the field of skilled workers. This is especially true for more remote areas without good infrastructure. Many candidates are inflexible and not willing to relocate, even if there are welcome bonuses or relocation packages.
Slovak skilled workers, who used to be widespread in the Czech Republic, are now hardly coming here anymore. Salaries in Slovakia have now reached Czech levels in many places, so the incentive is not as great anymore.
Updates on Foreigners' Law in the Czech Republic
Dr. Stephan Heidenhain bnt – attorneys-at-law s.r.o., Prag
EU citizens and British citizens who already had a residence permit in the Czech Republic by the end of 2020 can stay in the country without a residence permit. Family members of EU citizens (including British citizens and EEA and Swiss citizens) can obtain a residence permit relatively easily. The provisions for stateless individuals were included in § 170d of the Act on Foreigners in 2021.
Doing Business in Dubai 2023
This brand new, 120 page publication is a unique introduction to the United Arab Emirates with a special focus on Dubai. It deals with the corporate legal, tax and compliance mechanisms involved in establishing and managing a business in Dubai and contains all the latest details of the new 2023 Dubai tax code, set to come into effect from June 1st, 2023.
Clarifying UAE Individual Income Tax Liabilities & Exemptions For Residents and Non-Residents
Recent cabinet decisions clarifying Individual Income Tax liability and exemptions have just been issued before the June 1st new tax regime. Individuals in the UAE should pay immediate attention to these new rules regarding:
- Individual Income Tax Threshold
- Determining Business Activity
- Salary, Personal Investments and Real Estate Investments
Shanghai Implements New Criteria for Permanent Residence Applications from May 1, 2023
Shanghai has introduced some new criteria for permanent residence application starting May 1, 2023. Among others, foreigners who apply for permanent residence as working staff are now subject to higher salary thresholds and stricter non-criminal record requirements.
Czechia: EU seeks the establishment of gender balance on company boards
EU member states will newly be required to adopt binding regal regulations under which listed companies must staff their boards such that the underrepresented sex is not put at a disadvantage.
The bulk of the Directive consists of a summarization of its value-based assumptions and its assessment of the current situation in the recitals. It perceives equality between women and men to be a major founding value of the European Union, and makes reference to a number of other pieces of EU legislation and recommendations aimed at fostering gender-based equality across the private sector.
DON'T START WHEN EVERYONE ELSE STARTS
Sven Henniger, Partner, Henniger Winkelmann Consulting (HWC LLC)
We are already talking about 400 billion euros in reconstruction costs. In principle, any company can participate in the reconstruction. The reconstruction will not primarily be a question of costs, so Western European companies can also be involved. Therefore, companies must already consider how they want to position themselves for participation in the reconstruction. If a peace treaty is signed, then all companies will want to be in Ukraine. It will be difficult to obtain appointments, land, and licenses, as institutions and service providers will be at full capacity. Therefore, it is important to find the right timing for engagement in Ukraine. It could be today or tomorrow, but one should not start only when everyone else has already begun.
Ukraine: PREPARING FOR THE POST-WAR ERA
Christian Tegethoff, Managing Director, CT Executive Search
How do you find executives in Ukraine under the current circumstances?
International companies currently have particularly good chances of filling management or representative positions. Ukrainian managers who want to improve their career prospects have few alternatives at the moment. Kyiv and Western Ukraine is currently an employer's market for executives in general, and there are candidates available who would not normally be available in normal times. In other areas, such as accounting and finance, there is indeed a local shortage of personnel due to migration to Western countries.
Rebuild Ukraine
Ost-Ausschuss der Deutschen Wirtschaft/German Eastern Business Association
According to the German-Ukrainian Chamber of Industry and Commerce, around 2,000 companies from Germany alone are active in Ukraine. German companies are active in many sectors such as agriculture, construction, transport and logistics, electronic components and health care.
The document is divided into seven sections and begins with comments on general frameworks and ideas for structuring the reconstruction process. This is followed by six sector-specific sections on the topics of construction, logistics and infrastructure, energy, agriculture, health and digitalisation.
THRIVING IN INDIA: CAN EXPATS BECOME EXPERTS?
CT Executive Search Press Release
As economic ties continue to strengthen, what should German companies and employees expect when doing business in India? What are the current HR trends in India, and how easy is it for expatriates to integrate into India’s business culture?
“India is fast becoming a production location, with local and international companies manufacturing goods for the rapidly growing domestic and international markets. We have seen a significant increase in the number of requests to recruit top management to various European companies currently based in India. As India’s economy continues to grow, I predict a boom in executive search, which will include a significant demand for expatriate personnel, particularly, during market entry. In India, we recruit both locals and expatriates to fill top management positions. We have an extensive pool of Indian and expatriate candidates for companies to consider.” - Christian Tegethoff, Managing Director, CT Executive Search
Doing Business in Hong Kong 2023
Doing Business in Hong Kong 2023 introduces the fundamentals of investing in Hong Kong.
It covers the following:
- Why Hong Kong
- Establishing and Running a Business
- Tax, Audit, and Accounting
- Human Resources and Payroll
- Cybersecurity and data protection
HOW CLOSE IS GERMANY TO THE CZECH REPUBLIC AND SLOVAKIA?
CT Executive Search Press Release
How close are the economic ties between Germany, the Czech Republic and Slovakia? What is the current outlook regarding investment, nearshoring, bilateral trade, recruitment and executive search?
“The Czech Republic and Slovakia are important production sites for Western European and American companies, who benefit from favourable conditions and well-trained and experienced personnel. Currently, there is a high demand for skilled workers in both the Czech Republic and Slovakia. Our team of highly qualified experts continues to help German and other European companies successfully recruit personnel to top management positions. These are often people with in-depth knowledge of their countries and the international business environments. As global business priorities continue to change, we are always ready to assist companies in finding the right candidates for various positions in the Czech Republic and Slovakia.” – Christian Tegethoff, Managing Director, CT Executive Search
Doing Business in Indonesia 2023
An Introduction to Doing Business in Indonesia covers the following:
- Indonesia’s Positive Investment List
- Corporate establishment;
- Taxation;
- Human resources and payroll; and
- Audit and compliance.
China’s Changing Labor Market – Trends and Future Outlook
China’s labor market – the largest in the world – is undergoing a period of rapid change. As the population ages, the working-age population shrinks, and new forms of employment become more prevalent, China is seeking to upskill its workforce to increase value and efficiency. This article takes a look at the latest data on China’s labor force and discusses how demographic shifts, changing work attitudes and preferences, and industry trends will impact the trajectory of the country’s economic development.
New Requirements for Hiring a Foreign Employee in Malaysia
Companies in Malaysia should note the change in requirements for hiring a foreign employee in the country. Employers must now seek prior approval from the country’s Director General of Labor.
Essential Personal Finance Compliance Checklist for India as March 31 Deadline Approaches
As the current financial year in India ends on March 31, individuals must prioritize their personal finance checklist and ensure the timely completion of all outstanding financial tasks. To help individuals stay on track, here is a list of essential items that require their attention before the end of this financial year.
70 Years of the Ost-Ausschuss in 70 Pictures
Ost-Ausschuss der Deutschen Wirtschaft e.V.
„A good picture says more than 1000 words“. True to this motto, this book uses 70 photographs to trace important events and developments that have shaped the work of the Ost-Ausschuss over the past 70 years.
THE INDO-GERMAN MAGAZINE January - March 2023
A Guide to Minimum Wages in China in 2023
Minimum wages in China continue to rise.
As of April 12, 2023, Shanghai has the highest monthly minimum wage among 31 provinces (RMB 2,590/US$400 per month), and Beijing has the highest hourly minimum wage (RMB 25.3/US$3.9 per hour). 14 regions – Beijing, Tianjin, Hebei, Shanghai, Jiangsu, Zhejiang, Anhui, Fujian, Shandong, Henan, Hubei, Guangdong (including Shenzhen), Chongqing, and Sichuan – have surpassed the RMB 2,000 (US$308) mark in their monthly minimum wage standards.
Non-Residents In UAE Need Not Register For Corporate Income Tax
In the latest update to the UAE Corporate Tax regime, a non-resident person will not be required to register for tax if they only earn UAE-sourced income and do not have a permanent establishment in the UAE.
Top Recruitment Strategies in China in the Post-COVID Era
In the post-COVID era, finding suitable talent to help achieve business objectives and growth targets is a major challenge for companies in China. Knowing essential recruitment strategies can help businesses attract top-tier candidates, as talents are critical resources for companies of all sizes.
German-polish relations: prospects for job seekers
CT Executive Search Press Release
As demand continues to outweigh supply, on the Polish market, the employee is King.
So, what can one expect in terms of work conditions, responsibilities, remuneration and benefits?
These and other questions regarding the ongoing HR-trends, as well as German-Polish economic relations were answered at the webinar organised by CT Executive Search in cooperation with AHK Poland.
“Currently, with more and more companies setting up operation in Poland, there is an undeniable shortage of talent. However, in the past year, CT Executive Search has helped many of its clients successfully recruit senior management personnel. As requests keep pouring in, our team of top HR experts continues to expand its reservoir of top candidates, many of whom have been successfully appointed to executive positions in German and other international companies currently based in Poland. Our experience on the Polish market is vast, and we are always ready to help companies looking to set up successfully operations on the market.” – Christian Tegethoff, Managing Director, CT Executive Search
