Category: NEWS
Micro and small companies earned less but employed more
In Serbia, 14,309 small enterprises and 93,573 micro-sized companies submitted financial reports to the Serbian Business Registers Agency in 2023. While small enterprises saw a 6.6% annual growth, the number of micro companies actually decreased by 2.6%. In the total number of business entities in the country, small enterprises account for about 12.5%, while micro-enterprises […]
Read moreEmployment rate of college graduates in Kazakhstan reaches 79%
Minister of Education of the Republic of Kazakhstan Gani Beisembayev reported on the current state of the system of technical and vocational education in Kazakhstan at a government meeting,El.kz reports. There are 772 colleges in the country, where 565 thousand students study, of which 177 thousand entered this year. Dual education covers 91 thousand students, […]
Read moreGeorgia’s business sector sees double-digit growth in turnover, production value in Q2
The total turnover of the business sector in Georgia rose by 11.6 percent year-on-year in the second quarter of 2024, reaching ₾53.6 billion ($19.93bln), while the production value equalled ₾20.5 billion ($7.62bln), reflecting a 12.5 percent year-on-year increase. The total turnover of the business sector in Georgia rose by 11.6 percent year-on-year in the second […]
Read moreNew Work Permit Policy for Ukrainians Without Temporary Protection Takes Effect in Lithuania
Lithuania’s recent policy that restricts Ukrainians from working in the country without temporary protection unless they hold a residence permit has officially come into force. This decision means that as of September 1, 2024, Ukrainians without this status must obtain a residence permit to continue working in the country, Schengen.News reports. Previously, foreign nationals registered […]
Read moreBig fluctuation of IT workers in Serbia
IT professionals in Serbia typically stay with a company for a few years on average, a trend largely influenced by the COVID-19 pandemic and the subsequent slowdown in the industry. While everyone hopes for market stabilization, experts in the sector remain divided on whether the future will bring even more pronounced workforce turnover. However, it […]
Read moreJordanian IT sector eyes promising opportunities in Kazakhstan
Jordanian companies in the communications and information technology sector are poised to capitalize on promising opportunities in the Kazakh market, according to Haitham Rawajbeh, the representative of the sector at the Jordan Chamber of Commerce, Petra reports. In a meeting with Kurmangali Amankosov, the Middle East representative of the Qazaqstan Investment Corporation, Rawajbeh emphasized the […]
Read moreIn Q2 2024, unemployment in Georgia decreased to 13.7%
In the second quarter of 2024, the unemployment rate in Georgia decreased to 13.7%. GEOSTAT stated that in the same period, the number of employees was more than 1.38 million, and the number of hired employees was 935.8 thousand. During the reporting period, 451.5 thousand people were self-employed, and 219.7 thousand people were considered unemployed […]
Read moreIT workers fluctuate a lot in Serbia
The COVID-19 pandemic and the subsequent slowdown in the industry make IT professionals in Serbia typically stay with a company for a few years on average. In spite of hope for market stabilization, experts in the sector are not optimistic about the future because of workforce turnover.
The recruitment agency BPS Tech reports that certain job profiles, employees and companies follow different tendencies: some of them focuse on outsourcing and others develop their own products.
According to the first ones, one reason for this situation is the predominant orientation of the market itself towards outsourcing (estimated at around 80%). Another reason is the importance for candidates of leaving their personal mark on the company by working on products. This makes the average retention in product companies higher. Candidates working for outsourcing companies often lack a sense of belonging and purpose, as they predominantly work on existing solutions that aren’t as interesting. Challenging projects, opportunities for advancement, variety of work/projects, work environment, salary and benefits are the most important factors influencing employee retention in a company.
Joberty, a platform connecting employers and candidates in the IT sector, reports that the average tenure of IT professionals in companies remains between two and four years. Nevertheless, the situation in the IT sector has changed significantly.
The demand for IT professionals increased during the COVID-19 period due to an expansion of IT projects and digitalization.
According to Milan Šolaja, Executive Director of the Vojvodina ICT Cluster, now employees value stability and job security more than in the pre-COVID period of somewhat reduced growth when workforce turnover was stronger.
As Miloš Turinski, PR Manager of the employment and career development center Infostud, says, a general tendency for the average time IT workers in Serbia work in one company has decreased.
He assesses that employee retention is longer in larger companies or well-known brands that often offer more stable jobs, better benefits and opportunities for professional development than in smaller companies and lesser-known brands.
The duration of tenure is primarily influenced by the seniority of an employee, as junior workers change jobs more quickly as they are still in the phase of discovering their interests and possibilities in the industry. Conrtavertly, seniors usually stay longer, especially if they are satisfied with their role and involved in the development of the team and company, but they too may be inclined to change if they encounter better opportunities or challenges.
Corporate culture is extremely important for more experienced candidates, which makes them stay in companies for an average of five to seven years, sometimes even longer.
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Read more95,000 dinars is an average net salary in June
The State Statistical Office reported that the average net salary in June 2024 was 95,804 dinars. The median salary is 74,185 dinars, and half of the employees earned less than that.
They calculated the average gross salary for June 2024 equal to 132,290 dinars.
The Republic Statistical Office stated that the growth of gross salaries in the period from January to June 2024, compared to the same period last year, was 14.8% nominally, or 9.3% in real terms, while the average net salary increased by 14.7% nominally, or 9.2% in real terms.
The increase of the average gross salary for June 2024 was 12.1% nominally and 8% in real terms, compared to the same month of the previous year, while the growth of average net salary was 12% nominally, or 7.9% in real terms.
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Read moreMinimum wage will reach 53,592 dinars in 2025
Representatives of the trade unions, employers, and the Government addressed the public regarding the results of their talks about increasing minimum wage after the session of the Socio-Economic Council.
According to Serbian Prime Minister Miloš Vučević, they agreed upon the minimum wage during the session for the first time in six years. It means that the Government will not have to make the decision unilaterally.
Miloš Vučević said that they agreed upon the increase of the minimum wage by 13.7 percent (308 dinars per hour, or 53,592 dinars per month) after many meetings, discussions and a lot of work. According to the PM, the minimum consumer basket from May (53,518 dinars) will be covered by this amount of the minimum wage.
As Finance Minister Siniša Mali mentioned, the non-taxable income threshold will increase to 28,432 dinars from January 1. A record-low unemployment rate of 9.4 percent was also highlighted by him.
A satisfaction with the outcome of the negotiations was expressed and the focus areas for the upcoming period were pointed out by the President of the Employers’ Union, Miloš Nenezić.
The sum of 62,000 dinars was demanded by the trade unions, the employers’ wish went slightly above 50,000 dinars, and a desire for the amount to be between 53,000 and 53,500 dinars was expressed by President Aleksandar Vučić.
Čedanka Andrić, President of the Nezavisnost Association of Trade Unions, said that fifty-six percent of the average salary provided a good starting point for the negotiations they will continue to have. He also added that he would have been much more satisfied if that amount could have been higher at the moment, but this is the kind of consensus that could be achieved.
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