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Prof. Dr. Ioanna Batsialou, Director and Owner of Ioanna Regen Polyclinic

Sun YES, Ageing NO

Despite the common belief that medical aesthetic treatments are only performed in winter, our need for care is much greater during the summer, says...

Peter Novak, Managing Director at Kolektor Etra

Transformers for the Most Demanding Consumers

Ljubljana-based Kolektor Etra has a tradition of producing power transformers that dates back over 90 years. It is present with its products in more...

Danijela Bojović, Project and Real Estate Manager, Napred

Napred: Synonymous with Progress

Over the past 75 years, Belgrade-based company Napred has established a formidable presence in 10 countries across three continents. This company has consistently emerged...

Djordje Djokic, Senior Partner, Djokic + Partners

Building a Brand Through Quality

Djokic + Partners is considered one of the top law firms in the banking and financial sectors due to its profound understanding of business...

Wolt

Wolt is Transforming the Delivery Industry

Speed, sustainability and growth are supported by technological innovations This headline recently emerged from a Bloomberg interview with Matko Katanec, Wolt Regional Director for CEE...

Nataša Pavlović Bujas, Member Of The Management Board Of The Serbian Association Of Employers, Founder And Md Of Agency Blumen Group

Human Resources Market Ahead Of The State

Labour market liberalisation is among the few areas where our progress depends on ourselves and where we aren’t lagging far behind the rest of the world. As such, labour market globalisation represents an opportunity to accelerate our development that we shouldn’t miss

In Serbia, but also worldwide, we are witnessing changes that are deep and unclear – and even invisible to large economic systems – and that are reflected in global labour market migrations, especially when it comes to the Millennial and Zoomer generations, but also among older workers. This is a trend prompted by people desiring more humane working and general living conditions, which was accelerated by the pandemic crisis of 2020 and is continuing at the same fast pace. Career development and monetary earnings no longer represent the basic parameter for employment – the focus is on quality of life, which is why people who are able to work remotely choose to reside in environments/countries where they live better. Likewise, employees no longer want to represent a unit of the “labour force”, but rather insist on a personalised, more human approach to the workplace and their place in the team. On top of that, borders are fading away – particularly interstate ones. Under the influence of the internet, everything is available to us globally, including the labour market. Serbia now massively exports personnel of all kinds, and thus the economy has a problem regardless of whether people physically leave the country or stay here and work remotely for a foreign employer, because the lack of required and qualified personnel will certainly slow the growth of the domestic economy, as we are already witnessing. “Quick imports” aren’t easily achieved, because it’s tough for local employers to offer competitive working conditions.

Serbia is no exception, and nor will it be in the future, when it comes to importing or exporting workers. If we transform ourselves into a society offering a high quality of life, we have a chance to survive and prosper. This implies advancing all life parameters, infrastructure – particularly related to the internet, hybrid work and/or an exclusively online model of work as an acceptable and desirable form of employment and the accelerated harmonising of legislation and tax practices, both for Serbian citizens and residents of Serbia, as well as for workers from other countries who are engaged temporarily.

Serbia’s integration into the EU and the global labour market could provide a major problem if we don’t adapt on time and prepare for intensive migration dynamics

Legal regulations are lagging behind practice, despite this is not being a mere trend – but rather an irreversible global shift in the company – employee – state relationship.

It won’t be easy for states, including ours, to simultaneously liberalise the labour market and protect its citizens in this market competition; to open the door to exports of human capital while retaining income in Serbia; to open the door to imports of human resources, while preserving standards of education, effectiveness, the formal recognition of diplomas, professional qualifications, knowledge and titles. The human resources market is ahead of the state for now, regulations are late and insufficiently stimulating for both companies and individuals.

Serbia’s integration into the EU and the global labour market could provide a major problem if we don’t adapt on time and prepare for intensive migration dynamics. That’s because the domestic economy will stagnate in the absence of human resources. And yet, this could also be a huge opportunity for accelerated economic and social growth, provided we speed up the acceptance of migratory trends, adjust legislative and tax policies, define industries that are strategic to us and stimulate domestic companies/employers, and not just foreign investors.

Labour market liberalisation is among the few areas where our progress depends on ourselves and where we aren’t lagging far behind the rest of the world. As such, labour market globalisation represents an opportunity to accelerate our development that we shouldn’t miss – if we are ready to strategically determine economic branches that are crucial (the IT industry and creative industries, for example) and to support their development through systemic solutions, especially in terms tax policy – by abolishing parafiscal fees and introducing tax breaks for businesses and tax incentives for investments in the development of enterprises.

Comment by Zoran Panović

From Lavrov to Macron

Despite the Serbian Progressive Party (SNS) having signed a Cooperation Agreement with Putin’s United Russia, and despite SNS President and Serbian PM Miloš Vučević...

Goran Radosavljević, Ph.D. Vice Dean and Director of the FEFA Institute

We Need to Quadruple Our Growth Rate

Reducing corruption, reforming the energy sector and fundamentally changing the secondary education system are the keys to faster economic growth It was two months ago...

Luka Baturan, University of Novi Sad Faculty of Law

Arbitrary Tax Breaks Degrade the System

The biggest job that Serbia has to do – and it pertains to tax regulations – is to radically reform personal income tax and...

Nebojša Bjelotomić, Director of the Digital Serbia Initiative

Instead of Walls and Machines, We’re Investing in People and Their Knowhow

For countries with a falling population, it is recommended that all remaining workers “climb” the ladder of industrial worth. However, this means dealing far...

United States Adds $18 Million In New Funds To Development Partnership With Serbia

Today, the United States Government, through the United States Agency for International Development (USAID), announced an additional $18 million...

Montenegro Nominated for Europe’s Most Desirable Destination Award

Montenegro has been nominated for the prestigious title of Europe's most desirable destination in the Wanderlust Reader Travel Awards...

Serbia Signs Memorandum on Nuclear Energy Development

In a significant move towards modernizing its energy sector, the Serbian government, along with twenty scientific and academic institutions,...

H.E. József Magyar – The Western Balkans is a Priority

The Hungarian Embassy in Belgrade hosted a reception to mark the beginning of Hungary's presidency of the Council of...

The International “Aleksandar Tišma” Literary Award ceremoniously presented to French writer Cécile Wajsbrot

The third International “Aleksandar Tišma” Literary Award was ceremoniously presented to French writer Cécile Wajsbrot on June 24, 2024,...

United States Adds $18 Million In New Funds To Development Partnership With Serbia

Today, the United States Government, through the United States Agency for International Development (USAID), announced an additional $18 million...

Montenegro Nominated for Europe’s Most Desirable Destination Award

Montenegro has been nominated for the prestigious title of Europe's most desirable destination in the Wanderlust Reader Travel Awards...

The International “Aleksandar Tišma” Literary Award ceremoniously presented to French writer Cécile Wajsbrot

The third International “Aleksandar Tišma” Literary Award was ceremoniously presented to French writer Cécile Wajsbrot on June 24, 2024,...

Medtronic to Launch Operations in Serbia with Strategic Bio4 Campus Partnership

American medical technology giant Medtronic is set to establish operations in Serbia following a memorandum of understanding signed with...

Mickoski Proposes New Government for North Macedonia

Hristijan Mickoski, leader of VMRO-DPMNE and the designated Prime Minister of North Macedonia, has formally submitted his proposed cabinet...

United States Adds $18 Million In New Funds To Development Partnership With Serbia

Today, the United States Government, through the United States Agency for International Development (USAID), announced an additional $18 million...

Montenegro Nominated for Europe’s Most Desirable Destination Award

Montenegro has been nominated for the prestigious title of Europe's most desirable destination in the Wanderlust Reader Travel Awards...

The International “Aleksandar Tišma” Literary Award ceremoniously presented to French writer Cécile Wajsbrot

The third International “Aleksandar Tišma” Literary Award was ceremoniously presented to French writer Cécile Wajsbrot on June 24, 2024,...

Medtronic to Launch Operations in Serbia with Strategic Bio4 Campus Partnership

American medical technology giant Medtronic is set to establish operations in Serbia following a memorandum of understanding signed with...

Mickoski Proposes New Government for North Macedonia

Hristijan Mickoski, leader of VMRO-DPMNE and the designated Prime Minister of North Macedonia, has formally submitted his proposed cabinet...
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