What is relevant compensation and benefit package for new generation of top leaders in CEE? Expats versus locals?
Paylab mapped the current trends in Compensation and Benefits and examined the ways in which the top three positions of Managing Director, Chief Executive Officer and Country Manager are compensated in Central and Eastern Europe. A total of 3,551 salary reports from top level managers in these three positions were analysed from 10 countries in the region.
In 2016 21.6 % of all jobs posted in Hungary were in Trade and sales category. The second largest category was IT which covered 16.6 % of all posted jobs. Most posted job positions in 2016 were very similar to the most posted jobs in 2015, so we believe that this trend will continue also in 2017.
You may say that in Baltic countries candidates are fishing for the better job opportunities. People are having high salary expectations and ambitions. But salary is not the only thing that matters. People are also looking for development opportunities, flexible working hours and quick, smooth recruitment processes.
Employees who experience no stress associated with performing their profession at work are in the minority. The Stress in the Workplace international survey conducted in 11 European countries with a sample of 58,508 employees and conducted by the international Paylab.com portal confirmed this fact. The survey focused on investigating the most serious stress factors and their association with sleep.
There is a huge lack of people in the Czech labor market with almost 200,000 open vacancies (the most ever). The unemployment rate is the lowest in the EU (3.9 % based on comparable data from the CSO / Eurostat). After last year's strong market revival in terms of the companies’ demand, people are also much less afraid to change jobs and will therefore react more often
Croatian workers (especially young people) are willing to move and search for better job offers abroad. If they can't find good working conditions in Croatia, they are ready to move. This means Croatia also needs more foreign workers, especially during touristic season. Foreign workers are also needed in IT and healthcare sectors.
Based on the research that Kolektiv- Posao.ba agency conducted amongst clients, big buzzwords in HR industry are work flexibility and compensation packages, good working environment and headhunting & recruitment outsourcing. Headhunting is just becoming popular in BiH, especially for top level professionals.
In addition to IT skills, employers in the Central and Eastern European, Baltic, Balkan and Finnish recruitment markets are increasingly requiring candidates to have a working knowledge of at least two languages. As in 2016, salespersons and IT professionals continue to be among the desired workers.
Salespersons and IT workers were by far among the most wanted professionals in Central and Eastern Europe, Baltic, Balkan and Finnish recruitment markets.
The latest regional survey on similarities and differences of labor markets in three Balkan countries, Croatia, Serbia and Bosnia and Herzegovina, reveal some pretty interesting information about millenials and their workinglife expectations.
There are many ways to address such a challenging employment-market scenario. On one hand, employers can focus on monetary motivation, but they may also choose to emphasise other aspects such as attractive benefits or flexible working arrangements.
The trend in our market is for the expansion of IT personnel. There are young people who keep up to date with the new technologies and the Internet, and these technologies are not available to them in existing workplaces.
We are seeing different kinds of working relationships become common in certain industries. In IT, for example, many employers now hire external freelancers on a project basis, while in manufacturing, the emerging model is to lease employees depending on market seasonality and order book status.
According to trend researcher Sven Gábor Jánszky, there will be higher demand for project workers who possess easily convertible interdisciplinary knowledge.
MojPosao.net, Croatia’s leading job site and its regional partners Poslovi.infostud.com (Serbia)and Posao.ba (Bosnia and Herzegovina), are organizing traditional Virtual Career and Education Fair which will take place October 19-26 on www.dankarijera.com.
We see ourselves at a turning point in the field of human resources. The generations dominating the labour market both now and in the years to come are those looking for different working conditions, such as flexible hours, the ability to work from home, better work–life balance and more focus on their private life in general.
"To be attractive to potential employees, companies must take heed of their changing needs. One of the biggest issues is the growing hunger for flexible work time, which 60% of young people consider essential" says Tomáš Ervín Dombrovský.
"As disruptive innovations create new business models and industries, anticipation of the future of work is becoming very topical" says Mersiha Mima Mehić.
"The working environment of the future will be a more flexible one, with employees able to work when and where they choose" says Agu Vahur, CEO of CV-Online.
The first Virtual Career Fair in the Baltics (www.BalticCareerDays.com) ended April 27th and attracted more than 80 000 visitors during a week. Almost 60 companies operating in 23 different industries from Latvia, Estonia and Lithuania were present in the fair with their virtual stands.
The Finnish economy is recovering slowly after the recession, and GDP is expected to grow by maximum of 1% in 2016.
“The economic growth has had a clear impact on the recruitment market,” says Mersiha Mima Mehić, Chief Operations Officer at Kolektiv d.o.o.
The annual HR Days conference organised by MojPosao was held in Rovinj on 17th and 18th March. The conference gathered around 200 HR professionals from the country and the region.
Poslonaut application – totally new way to reach out a wider candidate pool of blue-collar job seekers
Poslonaut - developed by Poslovi Infostud - is an Android application (iOS is in development) that connects job seekers to available jobs. Focus in on “blue collar” jobs that don’t require special skills, such as waiters, couriers, help staff etc.
Serbia’s GDP is forecast to grow in 2016 by 1.5%. The unemployment rate has decreasing trend, but is still high (18%). Serbia’s ongoing EU integration process is expected to increase the amount of foreign capital invested in the country.
The positive economic mood in Poland can also be seen in the labour market. The size of the working population will increase by 1–1.5%, and the sinking unemployment rate is expected to reach the lowest figure Poland has ever had, 8%, in 2016.
Estonia’s GDP grew by 2.2% in 2015, and the growth rate is expected to rise to 2.8% in 2016. Unemployment is expected to remain at the previous year’s level, at approximately 6.5%.
In Lithuania, economic growth will remain moderate in 2016. Danguolė Augustinienė, Business Manager of CV Online Lithuania, says that investments in Lithuania by foreign companies could perk up recruitments in 2016
This year Virtual Career Fair (VCF) platform developed by MojPosao in Croatia will be used also to run the first VCF in the Baltic countries. “We believe this product offers clients an interesting tool to build their employer brand, effective low-cost recruitment channel and highly effective and user friendly platform to connect and engage with the job seekers” Jurica Sarcevic, Product Manager of VCF, says.
Aivis Brodiņš, Business Manager at CV-Online Latvia, says that Latvian companies focus on building their reputations as employers in order to attract more talented candidates, cut down rotation and increase well-being at work.
In Hungarian market Alma Career is owning amd operating two job sites - Monster.hu and Workania.hu. With two-brand strategy we aim to serve Hungarian job seekers and employers with more targeted products and services.
The rise of industrial production and the service sector will accelerate the growth of Hungary’s GDP to 2.5–2.7% in 2016. The unemployment rate is already low, at 6.7%, and is expected to decrease to 6.5%.
In the Czech Republic companies are fighting for skilled IT people. With very low unemployment rate and very high demand, new channels and new ways of communication are needed to reach out potential candidates. One of the solutions we came up with this January is an IT related niche site called HelloWorld!.
Couple of weeks ago we launched a new mobile application called "Práce za rohem“, job behind the corner.. One key factor when looking for new solutions to recruit people has been the fact that unemployment rate in Czech Republic is one of the lowest in Europe.
The Czech economy has been among the fastest-growing economies in Europe for several years. Its GDP is expected to grow by 2.6% and employment rate to sink below 6% in 2016. According to Czech-based Milan Jasny, CEO of LMC, and Petr Kubacka from Monster.cz, the low unemployment rate forces companies to fight for talented staff, particularly in the IT and technology sectors.
Croatia will continue its recovery from the recession in 2016. GDP is forecast to grow by 1.8% and the unemployment rate decrease to 15.6%. The economic growth can also be seen in the recruitment market, which is expected to continue its growth.
The growth rate of the Slovak economy is twice as high as the average growth rate in the Euro zone. In the labour market, the economic growth is reflected in the growing number of new jobs, smaller number of job-seekers and even a shortage of skilled labour force.
"Everybody wants to know if their salary is fair. Most people think they should earn more, but this conviction is based mainly on subjective feelings" writes Miroslav Dravecky.
The reason for starting a recruitment process is usually that a skilled employee has left the company. Keeping skilled people requires investment in good management. And this means also paying attention to the managers' wellbeing.