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Specifics of the CEE- SEE talent market Western-Balkan region countries -Region has more than 20 million population -High GDP growth before the economic-crisis, major privatizations still underway -Region attracted above 10 billion EUR FDI’s/year -Countries are allready members of the EU and NATO -Several countries are using the same language Eastern-Balkan region countries -Region has similarly 29 million population -High GDP growth expectations before economic-crisis, -Major privatizations still underway - Countries are already members of the EU and NATO Current economic figures GDP per capita in US$ COUNTRY 2006 2007 2008 2009(estimated) Slovenia 21.000 25.426 27.511 29.500 Croatia 9.426 10.974 12.114 16.100 BiH 3.154 3.615 3.154 6.500 Serbia 4.216 5.270 5.838 10.900 Montenegro 3.693 4.363 4.828 9.700 Macedonia 3.010 3.220 4,6 9.000 Romania 10.700 11.400 12,600 11.755 Bulgaria 11.3 12.1 12.9 12.296 Hungary 19.3 19.6 19.8 19.044 Current economic figures GDP per capita in US$ 30 25 Slovenia Croatia BiH Serbia Monten. Macedon Romania Bulgaria Hungary 20 15 10 5 0 2006 2007 2008 2009 GDP growth Real GDP growth (%) COUNTRY 2006 2007 2008 2009(estimated) Slovenia 5,8 6,8 3,5 -7,4 Croatia 4,8 5,7 2,4 -5,8 BiH 6,2 5,5 6,0 -3,0 Serbia 5,7 7,0 6,0 -2,0 Macedonia 3,1 4,6 4,7 -2,0 Montenegro 6,8 6,0 6,0 -4,2 Romania 4,1 7,7 6,0 -8,0 Bulgaria 6,3 6,2 6,0 - 6,3 Hungary 4,0 1,0 0,6 - 7,20 GDP growth Real GDP growth (%) 8 6 Slovenia BiH Macedonia Serbia Croatia Montenegro Romania Bulgaria Hungary 4 2 0 -2 -4 -6 -8 2006 2007 2008 2009 Demographic data 2009 Slovenia Croatia Serbia Montenegro BiH Macedonia Romania Bulgaria Hungary Population (in million) 2.05 4.49 7.37 0.62 4.55 2.05 21.5 7,61 10,02 Median age (years) 41.7 41 41 36.7 39.8 35.1 37.7 41,1 39,4 Population growth rate (%) +1.4 -0.03 0 +0.2 +0,4 +1.1 -0.127 -0,79 0,139 Birth rate / 1.000 population 8.97 9.64 9.19 11.14 8.85 11.97 10.7 10.2 9,9 Death rate / 1.000 population 10.62 11.75 13.86 8.63 8.63 8.83 11.77 14.5 13,0 Life expectancy at birth (years) 76.92 75.35 73.90 75.20 78.50 74.68 72.18 73.09 73,3 Labor force (in million) 0.920 1.781 2.961 0.259 1.196 0.900 9.705 2.338 4,195 Unemployment rate (%) 6.6 9.6 19.0 11.2 31.1 35.0 6.7 7.0 9.9 Average Salaries’ Comparison 1000 900 800 700 600 500 400 300 200 100 0 EUR net amount Serbia Montenegro BiH Croatia Slovenia Romania Bulgaria Retirement age Slovenia Croatia Bosnia & H. Serbia Macedonia Montenegro Romania Bulgaria Hungary Standard retirement age in present is 57 According to the law till 2013 standard retirement age will gradually reach age 60 years Standard retirement age 60 Standard retiremen t age 62 Standard retirement age at present is 63 According to the law till 2013 standard retirement age will gradually reach age 65 years Standard retirement age 63 Standard retiremen t age 65 Women 56-if at least 36 years + 9 months of completed service 61 + 20 years of completed service 63 + 15 years of completed service 60 + at least 15 years of completed service When 40 years of service is completed-age not important. In case 40 years are not completed than the limit is 65 years + minimally 20 years of completed service 58 and 6 months or after 35 years of service completed In 2011 the level will be 60 After 35 years of completed service, if they had at least 30 years of service can be at 62 57-with the minimal of 18 years of service completed Men 58 + 40 years of completed service 63 + 20 years of completed service 65 + 15 years of completed service 65 + at least 15 years of completed service When 40 years of service is completed – age is not important. In case 40 years are not completed than the limit is 65 years + minimally 20 years of completed service 63 + 6 months or after 40 years of service completed In 2011 the level will be 65 Standard retirement age 64 62-with the minimal of 18 years of service completed Labour conditions Slovenia Croatia Bosnia & H. Macedonia Montenegro Serbia Romania Bulgaria Hungary Length of work week 40 hours 40 hours 40 hours 40 hours 40 hours 40 hours 40 hours 40 hours 40 hours Holidays min 20 days min 18 days min 18 days min 18 max 26 days min 18 days min 18 days min 21 days min 20 day min 22 day Unemploy -ment benefits (from 3 24 months) first 3 months 70%, than 60 % (average wage for the last 12 month) 80% for first 78 days; than 60% (average wage for the last 3 months) 30 per cent of the state average wage – in the BiH are only available for six months – although these are available longer for those who had been in continuous employment for more than five years. 40% of net average monthly wages in the first 6 months of benefits and to 30% of net average monthly wages there after in the next 6 months. 60% of the insured's average earnings in the last 6 months and is paid for up to 3 months; thereafter, the benefit is equal to 50% of the insured's average earnings. 60% of the insured's average earnings in the last 6 months and is paid for up to 3 months; thereafter, the benefit is equal to 50% of the insured's average earnings. minimum 75% value of reference indicator (minimum brut salary (600 de lei) The average daily unemployment benefit equals 60 % of the applicant’s average daily wage during the last 9-month period in which they made social insurance contributions. The monthly benefit is calculated by multiplying this average daily amount by the number of working days in the given month. There is a minimum and a maximum amount of unemployment benefit payable and each year these limits are adjusted. first 91 days 60% from average brut salary, than 179 day 60% from min salary Labour conditions Sickness benefits Slovenia Croatia BiH Macedoni a Montenegro Serbia Romania Bulgaria 80 to 100 % - otherwise 90 % per illness (employer pays first 30 days) between 70% and 100% , The employer pays for the first 42 days n/a n/a The insured receives 65% of the calculation base; 100% for a work injury or an occupational disease; 100% for a blood or organ donation. The employer pays benefits for the first 30 days The insured receives 65% of the calculation base; 100% for a work injury or an occupational disease; 100% for a blood or organ donation. The employer pays benefits for the first 30 days For normal disease 50%, 65%,75%, 85% base salary + benefits if the worked 2 years, 25 years, 5-8 years and over8 years The benefit is equal to 80% of the insured's earnings and is paid for up to 90 days. Hungary for the first 30 days, 60% from brut salary Labour conditions Maternity benefit Slovenia Croatia Bi H Macedonia Montenegro Serbia Romania Bulgaria 100% (average wage for the last 12 month) 100% of salary payable until the child is 6 months . Additional benefit payable until the child attains the age of 1 year (for the first and second child) or age 2 (for twins). 100 % salary n/a 100% of earnings are paid with 6 months of continuous insurance coverage; 60% with more than 3 but less than 6 months; 30% with at least 3 months. The benefit is paid monthly. 100% of earnings are paid with 6 months of continuous insurance coverage; 60% with more than 3 but less than 6 months; 30% with at least 3 months. The benefit is paid monthly. 120 days, 85% from media of last 6 months total income all payments are supported by the state budget Social security beneficiaries are entitled to maternity benefits, provided they have length of service of not less than 6 months. The daily amount is equal to 90 % of average daily wages or insurance base. Maternity benefits are payable for 315 calendar days, of which 45 before giving birth. The mother / other parent is entitled to 6 months of unpaid leave till the child reaches 2 years of age. Hungary 24 weeks Max 70% from minimum wage What are corporate challenges in the region? Managing through recession Securing the business, obtain financing Dealing with redundant employees Pressure to recruit and retain the best-especially difficult in some countries as the pool of talented individuals is very small Responding to candidate needs Making HR a strategic partner to managament-too often HR still seen as an administrative rather than strategic function Global war for talent in recession times-is region any different? Not just among companies but among countries For 75% of HR executives, attracting and retaining talent is a No.1 priority 40% of employers worldwide having difficulty finding talent Restrictive immigration conditions in place to protect nation’s assets New type of jobs in demand for anti crisis business models Source: Peter Felix, President, AESC Main challenges for HR managers Domestic talent without necessary skills Low mobility, little international experiences Difficult hire-fire policy Aging populations-negative demographics 30% decrease in 40yrs +workers Important issues 50% top people in companies will leave in 5 years 55% of European population will be over 40 yrs company anti-crises measures in 2009 Governmental programs during the recession Slovenia: 60 EUR donation/person for shortening the working week to 36 hours, additional 60 EUR if shortened to 32 hours, state guarantees for banks (12 billion EUR) Croatia: no concrete actions yet defined Serbia: temporary stopped income tax on stocks (2012) and saving deposits, freezing price increases on gas + electricity for individuals Bosnia & Herzegovina: no concrete actions yet defined Montenegro: no concrete actions yet defined Macedonia: 10 measures adopted. Total aid 330 million euros (four years grace period for healthcare contributions, write-off interest on personal income tax, reduction of customs duties…) Romania: Among measures announced, two are seen as very important for business: a six month delay for fiscal obligations that were not paid in due time because of the economic crisis payment within 45 days of state arrears to companies, such as the reimbursement of value added tax (VAT) Most wanted profiles - Slovenia Managament consultants IT experts HR Managers Sales directors-accross all industries Manufacturing heads of departments Real estate development engineers CFO’s in industrial sectors SAP consultants Pharmaceutical industry experts Most wanted profiles-Bulgaria Financial Services – Risk Managers, Debt Collectors Insurance – all leves BPO and Offshoring positions across the board Sales directors-accross all industries Retail – across the board Most wanted profiles-Croatia Machine Engineers Constructing Engineers Experts in Finance Accountants HR Managers and Experts Various Sales Profiles and Managers Store Managers Computer Engineers and Developers Managers in Tourism Most wanted profiles-Serbia Plant Managers Real estate-all functions as real estate development is booming International Financial Experts Accountants and Tax Experts HR Managers Retail Directors and Heads of Departments CIO’s and IT developers Managers in Tourism Most wanted profiles-Romania CEO & CFO - Strategic senior BOA and top management positions Sales Directors KA Director Retail Management Aquisition and Senior Buyers Banking - Recovery and Work Out positions About us One of the first executive search firms established in Hungary 1991; Strictly retained; Fully operational in the Adriatic region since 2000; 90% of our clients are international or regional companies active in the region; Has operations in in Hungary (Budapest),Ljubljana (Slovenia), Zagreb (Croatia), Belgrade (Serbia)an Bucharest (Romania)and in Bulgaria; Assignments completed also in Czechia Slovakia, Bosnia & Herzegovina, Serbia and Macedonia; Member of global executive search umbrella organization Cornerstone International Group (www.cornerstonegroup.com) Our services Executive Search & Selection Interim managament Assessment, sucession planning Management Audit Outplacment Assessment Center Organisation Development Executive Coaching Completed assignments by industry 2008-2009 in the Adriatic IT, ICT (19) Automotive (5) Industry, Constructing (10) Life Science (3) Finance Ind. (5) FMCG, Retail (4) Other (5) Completed assignments during 2006-2009 in the Adriatic 19 5 3 22 Slovenia (40) Croatia (12) Bosnia & Herzegovina (3) 75 Serbia (5) Macedonia (5) Our strenghts Knowledge of the region Effective cross-border capability Language capabilities-we are serving the clients in English, Hungarian, German, Slovene, Croatian, Serbian and Romanian language + understand Macedonian We are highly transparent We offer strongest off-limits on the market-24 months Our guarantee is 12 months Sources Factiva, Dow Jones See News Economist Intelligence Unit - Business Eastern Europe The Central Intelligence Agency (CIA), USA Bank of Slovenia European Pensions & Investments News AII Data Processing Ltd. National Bank of Serbia Central bank of Montenegro Central Bank of BIH Agency for restructuring and foreign investments of Montenegro JAPTI ,Public Agency for Entrepreneurship and Foreign Investments of Slovenia Hewitt Associates SEEurope.net National Employment Relationships Acts CIA World facebook 2009 German Trade Invest, DUIHK, Tradingeconomics See Biz Contact Sándor Söpkéz Managing Director EastEuroCo Executive Search Group Tel: (+36)-1-363-5624 Fax: (+36)-1-363-7228 Mobile: (+36-70-978-2807 e-mail: [email protected]