tapfin quarterly market report european contingent ... · from dec. 1, 2016 the standard salary...

TAPFIN Quarterly Market ReportEuropean Contingent WorkforceQ4, 2016

December 2016

Table of Contents

Disclaimer and Definitions

European Overview

Appendix

Regional Breakdowns

The Purpose of this Quarterly Market Report is to give an European overview of key trends and metrics around the European Workforce, from both the overall Employment numbers, and the Employment Outlook, based upon research and analysis conducted within ManpowerGroup.

It should not be interpreted as legal advice. Please consult with legal counsel to ensure that you are in compliance with all applicable laws.

ManpowerGroup Proprietary & Confidential

Hiring is Becoming More Integrated & Aligned

HUMAN RESOURCES PROCUREMENTManpowerGroup Solutions TAPFIN | QMR Q4, 2016| ManpowerGroup Proprietary & Confidential

Regulations Impact Workforce Trends Globally

ManpowerGroup Solutions TAPFIN | QMR Q4, 2016| ManpowerGroup Proprietary & Confidential

ManpowerGroup Solutions TAPFIN | MEOS Q1, 2017| ManpowerGroup Proprietary & Confidential

France: French Labour Law Published (Source: DLA Piper)After months of conflicts, political confrontations, parliamentary ping‐pong discussions, the controversial use of Article 49‐3 of the French Constitution on three occasions, which allows the Government to bypass the Parliament, the Law relating to employment, improvement of the social dialogue and the safeguard of career paths, referred to as Labour Law, n° 2016‐1088 adopted on 21 July 2016 and declared constitutional on 4 August, was finally promulgated on 8 August 2016.https://knowledge.dlapiper.com/dlapiperknowledge/globalemploymentlatestdevelopments/francel‐new‐labor‐law‐finally‐published

Portugal: New rules on temporary employment (Source: DLA Piper)Recent amendments to the Labor Code address the responsibilities of employers towards temporary workers.https://knowledge.dlapiper.com/dlapiperknowledge/globalemploymentlatestdevelopments/portugal‐new‐rules‐on‐temporary‐employment

UK: The Great British Repeal Bill: A Timeline to trigger Article 50/Brexit. (Source: DLA Piper)UK Prime Minister Theresa May recently announced that the Government would soon be putting before Parliament the grandly titled Great Repeal Bill., which is due to be presented by the end of March 2017. The Great Repeal Bill has two key aims. First, it will remove at a stroke the European Communities Act 1972 (ECA), the statute which currently gives direct effect to all EU law in the UK. Secondly, it will convert the body of existing EU law into UK law. https://www.dlapiper.com/en/uk/insights/publications/2016/10/the‐great‐british‐repeal‐bill/

UK: High Court Rules Government Cannot Trigger Article 50 without Consulting Parliament (Source: Kemp Little)On 3 November 2016 the High Court handed down its keenly awaited judgment in the case on whether the Government can trigger Article 50 of the Treaty of the European Union (Lisbon Treaty) without consulting Parliament, concluding that the Government cannot do so and that the decision can only be made by Parliament.http://www.kemplittle.com/site/articles/kl_bytes/high‐court‐rules‐on‐triggering‐article‐50#

USA: New EEOC plan to include Gig Economy (Source: SIA)The US Equal Employment Opportunity Commission this week approved an updated Strategic Enforcement Plan for fiscal years 2017 to 2021, setting out its priorities and strategies for the near term, and it includes the Gig Economy.http://www2.staffingindustry.com/site/Editorial/Daily‐News/New‐EEOC‐plan‐to‐include‐Gig‐Economy‐Littler‐Mendelson‐39740

UK: The rise of the gig economy (Source: Kemp Little)Recent research reveals that more employers are making use of online platforms to recruit workers for short‐term, piecemeal or casual working, showing that there has been a significant increase in this recruitment method over the last five months.http://hrbytes.kemplittle.com/site/blog/employment_blog/the‐rise‐of‐the‐gig‐economy


Russia: Russia: Changes to labour code come into effect 3 October 2016 (Source: DLA Piper) On 3 October 2016, changes to the Russian Labor Code came into force affecting an employer's obligations in relation to payment of salary and enhancing sanctions for late/non‐payment.https://knowledge.dlapiper.com/dlapiperknowledge/globalemploymentlatestdevelopments/russia‐changes‐to‐labor‐code‐come‐into‐effect‐3‐october‐2016

Germany: Equal Pay Act ‐ A prospect (Source: DLA Piper) The coalition committee set the outline for an Equal Pay Act on 6 October 2016, thereby affirming that the current gender pay gap between men and women is no longer acceptable. Moreover, the Equal Pay Act should support families with a low income.https://knowledge.dlapiper.com/dlapiperknowledge/globalemploymentlatestdevelopments/germany‐equal‐pay‐act‐a‐prospect

USA: FLSA Overtime Rule Changes (Source: SIA) From Dec. 1, 2016 the standard salary level requirement for an employee to be exempt from the entitlement to overtime pay under the Fair Labor Standards Act (FLSA) increases from $23,660 to $47,476, the first increase since 2004. Court then temporarily blocks. http://www2.staffingindustry.com/site/Research/Research‐Topics‐Reports/North‐America/FLSA‐Overtime‐Rule‐Changes‐The‐Impact‐on‐Staffing‐Firmshttp://www2.staffingindustry.com/site/Editorial/Daily‐News/Court‐temporarily‐blocks‐new‐overtime‐rule‐set‐for‐Dec.‐1‐40183

Belgium: Abolition of the 48‐Hour Rule for Temporary Work (Source: SIA) As of 1 October 2016, an employment contract for temporary work has to be signed at the latest at the time of the entry into service. This new rule means the end of the 48‐hour rule. http://www2.staffingindustry.com/eng_member/Research/Research‐Topics‐Reports/Europe/Europe‐Legal‐Update‐Q3‐2016

China: New work authorization policy on expats (Source: DLA Piper) The State Administration of Foreign Expert Affairs ("SAFEA") has released the Pilot Implementation Plans for Foreigners' Work Authorization Policy ("Plans"), which is effective from October until next March in 10 locations. The major purpose is simplify and unify the application process and improve data sharing on expats.https://knowledge.dlapiper.com/dlapiperknowledge/globalemploymentlatestdevelopments/china‐new‐work‐authorization‐policy‐on‐expats

UK: Tribunal recognise Uber workers' rights (Source: Kemp Little) Two Uber drivers won their employment tribunal claim against the “gig economy” app. The decision means they are classified as “workers”, entitling them to the National Living Wage (£7.20 / hour for drivers over the age of 21), paid holiday, sick pay and rest breaks, amongst other rights.http://hrbytes.kemplittle.com/site/blog/employment_blog/tribunal‐recognise‐uber‐workers‐rights


UK: Updated Draft Gender Pay Gap Regulations Published (Source: Kemp Little and DLA Piper) The long awaited draft regulations have been published, with some distinct changes compared with the first draft. The new draft regulations clarify some points around who is caught (for example, partners do not fall within the definition of employee), and set out explanations of how to calculate the metrics required. Target date for reporting is 5th April http://www.legislation.gov.uk/ukdsi/2017/9780111152010/data.pdfhttp://information.dla.com/information/published/Gender_Pay_Reporting_Rules_webinar.pdfhttp://information.dla.com/information/published/Gender_Pay_Reporting_Rules_webinar.pdf

Germany: Employment Law passed, adoption date changed to April 2017 (Source: SIA) The Committee on Labour and Social Affairs has stated that the proposed changes to the Germany Employee Leasing Act will come into effect on 1 April 2017 as opposed to the previous date of 1 January 2017.http://www2.staffingindustry.com/eng/Editorial/Daily‐News/Germany‐Employment‐Law‐passed‐adoption‐date‐changed‐to‐April‐2017‐39783

Netherlands: Delay to enforcement of new self‐employed tax regime (Source: DLA Piper) The Dutch Government has recently acknowledged that, following implementation of the new law, there remains significant uncertainty among both companies and contractors as the status of their underlying relationships is often unclear for legal and taxation purposes. The tax authorities have confirmed that they will not take enforcement action under the new regime until at least 1 January 2018https://knowledge.dlapiper.com/dlapiperknowledge/globalemploymentlatestdevelopments/netherlands‐delay‐to‐enforcement‐of‐new‐self‐employed‐tax‐regime

Global – On the horizon for 2017 (Source: DLA Piper) France: El Khomri Law: key provisions entering into force on 1 January 2017 Various key points of the El Khomri Law (also known as the Labor Law) will come into force in January 2017. Among the provisions coming into force is the right to disconnect from workplace IT outside of working hours.https://knowledge.dlapiper.com/dlapiperknowledge/globalemploymentlatestdevelopments/global‐on‐the‐horizon‐for‐2017


Market Trends– Gathered form multiple sources IQN and Beeline to Merge http://iqn.com/news‐posts/merger/https://www.beeline.com/iqnavigator‐and‐beeline/

Gig EconomyShiftgig raises another $3.9 million http://www2.staffingindustry.com/site_member/Editorial/Daily‐News/Shiftgig‐raises‐another‐3.9‐million‐ChicagoInno‐39507

Uber's Otto hauls Budweiser across Colorado in self‐driving truck http://uk.reuters.com/article/us‐uber‐trucking‐beer‐idUKKCN12P13N?il=0

Thumbtack raises $125 million in funding http://www2.staffingindustry.com/site/Editorial/Daily‐News/Thumbtack‐raises‐125‐million‐in‐funding‐39547

UK Government starts review of 'gig' economy http://www.bbc.com/news/business‐38147489

Uber Close to Settling Drivers’ Suit with Billions at Stake http://www.bloomberg.com/news/articles/2016‐11‐16/uber‐close‐to‐settling‐drivers‐lawsuit‐with‐billions‐at‐stake

Deliveroo workers seek workers’ rights and union recognition http://www2.staffingindustry.com/eng/Editorial/Daily‐News/UK‐Deliveroo‐workers‐seek‐workers‐rights‐and‐union‐recognition‐39984

Uber buys artificial intelligence company http://www2.staffingindustry.com/site/Editorial/Daily‐News/Uber‐buys‐artificial‐intelligence‐company‐40296


Total Workforce

448mFull Time Employees

339mContingent Workforce

70mUnemployed

40m

15.60%CW% of TWF

0.32%CW% Change to PQ

8.90%UW% of TWF

‐0.06%UW% Change to PQ

ManpowerGroup Solutions TAPFIN | CWI Data| ManpowerGroup Proprietary & Confidential

Strategic Update on EMEA


Eastern Europe• Hungary has stopped thousands of refugees and migrants from coming into its country but it now wants ‐ or rather needs ‐ foreigners to help deal with its labor shortage. Currently tens of thousands of positions go unfilled each year with companies from Germany ‐ which represents about a quarter of foreign investment in Hungry ‐ are limiting their operations in the country because of the labor shortage.

• To strengthen its legacy in the cybersecurity field, Romania’s Ministry of Education plans to add cybersecurity classes for children aged between 11 and 14 years. It's a concerted effort to address the potential skills shortage for cybersecurity talent as 80%+ of tech professionals feel there is a shortage of people with such skills, according to a July 2016 study.

Western Europe• The United Kingdom’s digital economy is creating new

jobs at a rate that was three times faster than the wider UK job market. However the UK government admitted that “a shortage in suitable digital skills for digital jobs persists in the UK labor market.” This report went on to say that 72% of large companies and 49% of SMEs suffer from tech skills gaps.

• Germany is considering changing its labor laws to make Frankfurt a more attractive hub for banks looking to move staff out of London after Brexit. The reforms relate to labor laws that make lay‐offs difficult and costly as minimum statutory redundancy terms are twice as generous in Germany as in the UK. This is a particular issue for banks, which tend to hire and fire more readily than other sectors, in line with cyclical business profitability.

• United Kingdom workers are starting to feel Brexit’s bite as real wages are rising at the weakest pace since early 2015. The pressure looks set to intensify with employment growth slowing and some economists predicting price gains as fast as 3% next year.

Total Workforce

14.1mFull Time Employees

11.2mContingent Workforce

2.1mUnemployed

924k


CONTINGENT WORKFORCE UNEMPLOYED WORKFORCE


14.54%CW% of TWF

‐0.3%CW% Change to PQ

8.90%UW% of TWF

Total Workforce



22mUnemployed

10.6m




13.42%CW% of TWF


6.47%UW% of TWF

Total Workforce



3mUnemployed

3m



0.0%UW% Change to PQ

10.09%CW% of TWF


9.9%UW% of TWF

Total Workforce



5.8mUnemployed

2.3m




11.15%CW% of TWF


4.4%UW% of TWF

Total Workforce



19.3mUnemployed

11.5m



0.93%UW% Change to PQ

24.18%CW% of TWF


14.44%UW% of TWF

Total Workforce



1.3mUnemployed

800k




9.54%CW% of TWF


5.76%UW% of TWF

Total Workforce



11.4mUnemployed

9m




19.48%CW% of TWF


15.36%UW% of TWF

Total Workforce



4.9mUnemployed

1.8m




13.9%CW% of TWF


5.07%UW% of TWF

ManpowerGroup Solutions TAPFIN | MEOS Q1, 2017 ManpowerGroup Proprietary & Confidential

AustriaAgriculture 4 % Services 70 % Industry 26 %

Total Workforce 4,485,800

Full Time Employees 3,558,818 Contingent Workforce 541,203 Unemployed Workers 385,779

Paid Annual Leave By Tenure

Tenure 1 Year 5 Years 10 Years

Leave 25 days 25 days 25 days

Notice Period By Tenure (in Weeks)

Tenure Austria Regional Ave

1 Year 2 weeks 4.6 weeks

5 Years 2 weeks 7.0 weeks


Severance Pay By Tenure (in Weeks)

Tenure Austria Regional Ave

1 Year ‐ 2.6 weeks

5 Years ‐ 7.1 weeks


YOY YOY YOY USD/EURGDP Growth Inflation change

At least 5 Days of FullyPaid Sick Leave Annually

Yes

Maternity Entitlements Maternity Paternity Parental

Paid Leave (days) 112 ‐ 0

Payment by: Govt. ‐ ‐

Guaranteed equivalent position post leave No

The annual overtime limit in Austria is 480 hours which is less restrictive than many of the other countries in the region. There are restrictions on night work.

Workforce

Overtime Premiums

Economic Considerations Competitiveness – Ranking out of 138 countries

Cost ConsiderationsLeave and Maternity Redundancy and Dismissal

World Economic Forum Competiveness Report Selected Rankings https://www.weforum.org/reports/the-global-competitiveness-report-2016-2017-1/

www.doingbusiness.orghttp://wbl.worldbank.org/

BahrainAgriculture 1 % Services 62 % Industry 35 %

Total Workforce 750,065

Full Time Employees 693,422 Contingent Workforce 27,391 Unemployed Workers 29,253





Tenure Bahrain Regional Ave

1 Year 4.3 weeks 4.6 weeks

5 Years 4.3 weeks 7.0 weeks



Tenure Bahrain Regional Ave




YOY YOY YOY USD/BHDGDP Growth Inflation change


Yes


Paid Leave (days) 60 1 ‐

Payment by: Govt Empl. ‐


Bahrain has the most restrictive annual overtime limit of the region with only 60 hours permitted per year.

Bahrain’s currency is pegged to the USD.

Workforce

Overtime Premiums





BelarusAgriculture 10 % Services 57 % Industry 33 %







Tenure Belarus Regional Ave





Tenure Belarus Regional Ave




YOY YOY YOY USD/BYRGDP Growth Inflation change


Yes



Payment by: Govt ‐ Govt

Guaranteed equivalent position post leave Yes

The annual overtime limit in Belarus is among the most restrictive in the region as overtime is limited to 120 hours per year.

Year on Year, 15% depreciation in the value of BYR against the dollar. Inflation is 2nd highest in the region after Kazakhstan.

Workforce

Overtime Premiums

Economic Considerations



BelgiumAgriculture 1 % Services 77 % Industry 22 %







Tenure Belgium Regional Ave





Tenure Belgium Regional Ave






Yes


Paid Leave (days) 105 10 120

Payment by: Govt Empl & Govt Govt


The annual overtime limit in Belgium is about average for the EMEA region – overtime is limited to 260 hours per year. There are restrictions for working on a holiday day and at

night.

Workforce

Overtime Premiums





BulgariaAgriculture 7 % Services 63 % Industry 30 %







Tenure Bulgaria Regional Ave





Tenure Bulgaria Regional Ave





Yes



Payment by: Govt Govt Govt


Bulgaria is more restrictive for overtime compared with most other countries in the region. Overtime is limited to 150 hours per year. There are restrictions on night work.

YOY YOY YOY USD/BGNGDP Growth Inflation Change

Above average YOY GDP growth.

Workforce

Overtime Premiums





CroatiaAgriculture 9 % Services 64 % Industry 27 %







Tenure Croatia Regional Ave





Tenure Croatia Regional Ave





Yes





Croatia has an annual overtime limit of 180 hours which is more restrictive than most countries in the region. There are restrictions on both working on a holiday day and

performing night work.

YOY YOY YOY USD/HRKGDP Growth Inflation Change


Workforce

Overtime Premiums





Czech RepublicAgriculture 3 % Services 59 % Industry 38 %







Tenure Czech Republic Regional Ave





Tenure Czech Republic Regional Ave





No





The annual overtime limit in Czech Republic is 150 hours which places it among the restrictive countries in the region.

YOY YOY YOY USD/CZKGDP Growth Inflation Change


Workforce

Overtime Premiums





DenmarkAgriculture 2 % Services 78 % Industry 19 %







Tenure Denmark Regional Ave





Tenure Denmark Regional Ave





Yes





The annual overtime limit in Denmark is just under 500 hours which is less restrictive than many other countries in the region.

YOY YOY YOY USD/DKKGDP Growth Inflation Change

Workforce

Overtime Premiums





EstoniaAgriculture 4 % Services 68 % Industry 28 %







Tenure Estonia Regional Ave





Tenure Estonia Regional Ave





No





Overtime in Estonia is more restrictive than most of the other countries in the region. The annual overtime limit is 200 hours. There are restrictions on night work.


Workforce

Overtime Premiums





FinlandAgriculture 4 % Services 74 % Industry 22 %







Tenure Finland Regional Ave





Tenure Finland Regional Ave





Yes





The annual overtime limit in Finland is 250 hours which is just slightly more restrictive than the average for the region.


Workforce

Overtime Premiums





FranceAgriculture 3 % Services 76 % Industry 21 %


Full Time Employees 23,598,035 Contingent Workforce 2,976,329 Unemployed Workers 2,919,936





Tenure France Regional Ave





Tenure France Regional Ave





No



Payment by: Govt Govt ‐


The annual overtime limit in France is 220 hours which places it among the more restrictive countries of the region. There are restrictions on both working on a holiday day and

night working.


Workforce

Overtime Premiums





GermanyAgriculture 1 % Services 70 % Industry 28 %







Tenure Germany Regional Ave





Tenure Germany Regional Ave





Yes



Payment by: Govt & Empl ‐ Govt


At approximately 570 hours per year, Germany has one of the least restrictive annual overtime limits in the region.


YOY GDP growth is higher than the majority of other countries on the EURO.

Workforce

Overtime Premiums





GreeceAgriculture 13 % Services 72 % Industry 15 %







Tenure Greece Regional Ave





Tenure Greece Regional Ave





No



Payment by: Govt Empl ‐


At 120 hours, Greece has one of the more restrictive annual overtime limits of the region. There are restrictions on working on a holiday day.


Workforce

Overtime Premiums





HungaryAgriculture 5 % Services 654% Industry 31 %







Tenure Hungary Regional Ave





Tenure Hungary Regional Ave





Yes



Payment by: Govt Empl Govt


Overtime in Hungary is more restrictive than most of the other countries in the region. The annual overtime limit is 200 hours.

YOY YOY YOY USD/HUFGDP Growth Inflation Change


Workforce

Overtime Premiums





IrelandAgriculture 6 % Services 75 % Industry 18 %







Tenure Ireland Regional Ave





Tenure Ireland Regional Ave





No


Paid Leave (days) 182 ‐ ‐

Payment by: Govt ‐ ‐


Overtime in Ireland is limited to 240 hours per year which is slightly more restrictive than the regional average. There are restrictions to working on a holiday day.


Ireland has experienced YOY GDP growth at more than twice the regional average.

Workforce

Overtime Premiums





IsraelAgriculture 1 % Services 80 % Industry 18 %







Tenure Israel Regional Ave





Tenure Israel Regional Ave





No





At approximately 570 hours per year, Israel has one of the least restrictive annual overtime limits in the region. There are restrictions on working on a holiday day.

YOY YOY YOY USD/ILSGDP Growth Inflation Change

YOY GDP growth has been above average.

Workforce

Overtime Premiums





ItalyAgriculture 4 % Services 70 % Industry 27 %







Tenure Italy Regional Ave





Tenure Italy Regional Ave





No





Overtime in Italy is limited to 250 hours per year which is slightly more restrictive than the regional average.


Workforce

Overtime Premiums





KazakhstanAgriculture 24 % Services 56 % Industry 20 %


Full Time Employees 6,198,558 Contingent Workforce 2,631,297 Unemployed Workers 454,956





Tenure Kazakhstan Regional Ave





Tenure Kazakhstan Regional Ave





Yes



Payment by: Empl ‐ ‐


At 120 hours, Kazakhstan has one of the more restrictive annual overtime limits of the region.

YOY YOY YOY USD/KZTGDP Growth Inflation Change

YOY, 20% depreciation in the value of KZT vs USD. Kazakhstan stopped pegging KZT to USD in Aug ‘15. The YOY inflation level is the highest in the region.

Workforce

Overtime Premiums





LatviaAgriculture 7 % Services 69 % Industry 24 %







Tenure Latvia Regional Ave





Tenure Latvia Regional Ave





No





Overtime in Latvia is limited to approximately 430 hours per year which is less restrictive than the regional average.


Workforce

Overtime Premiums





LithuaniaAgriculture 9 % Services 66 % Industry 25 %







Tenure Lithuania Regional Ave





Tenure Lithuania Regional Ave





Yes





At 120 hours, Lithuania has one of the more restrictive annual overtime limits of the region.


Workforce

Overtime Premiums





LuxembourgAgriculture 1 % Services 88 % Industry 11 %







Tenure Luxembourg Regional Ave





Tenure Luxembourg Regional Ave





Yes





Overtime in Luxembourg is limited to approximately 480 hours per year which is considerably less restrictive than the regional average. There are restrictions on working on a holiday day.


Luxembourg has experienced YOY GDP growth at more than twice the regional average.

Workforce

Overtime Premiums





MoroccoAgriculture 39 % Services 39 % Industry 21 %





Leave 18 days 19.5 days 21 days


Tenure Morocco Regional Ave





Tenure Morocco Regional Ave





No





At 80 hours, Morocco has one of the most restrictive annual overtime limits of the region. There are limits to working on a holiday day.

YOY YOY YOY USD/MADGDP Growth Inflation Change

Workforce

Overtime Premiums





NetherlandsAgriculture 2 % Services 81% Industry 17 %







Tenure Netherlands Regional Ave





Tenure Netherlands Regional Ave





No



Payment by: Govt Empl. ‐


Overtime in the Netherlands is limited to approximately 400 hours per year which is less restrictive than the regional average.


Workforce

Overtime Premiums





NorwayAgriculture 2 % Services 77 % Industry 21 %







Tenure Norway Regional Ave





Tenure Norway Regional Ave





Yes


Paid Leave (days) ‐ ‐ 343

Payment by: ‐ ‐ Govt


Overtime in Norway is limited to 200 hours per year which is more restrictive than the regional average. There are restrictions on both working on a holiday day and

night work.

YOY YOY YOY USD/NOKGDP Growth Inflation Change

Above average YOY inflation.

Workforce

Overtime Premiums





PolandAgriculture 11 % Services 58 % Industry 31 %







Tenure Poland Regional Ave





Tenure Poland Regional Ave





No





Overtime in Poland is more restrictive than most of the other countries in the region. The annual overtime limit is 150 hours.

YOY YOY YOY USD/PLNGDP Growth Inflation Change

Workforce

Overtime Premiums





PortugalAgriculture 6 % Services 69 % Industry 25 %







Tenure Portugal Regional Ave





Tenure Portugal Regional Ave





No


Paid Leave (days) ‐ ‐ 120

Payment by: ‐ ‐ Govt


Overtime in Portugal is more restrictive than most of the other countries in the region. The annual overtime limit is 150 hours. There are restrictions on working on a holiday day.


Workforce

Overtime Premiums





RomaniaAgriculture 25 % Services 45 % Industry 30 %







Tenure Romania Regional Ave





Tenure Romania Regional Ave





Yes





Overtime in the Romania is limited to approximately 380 hours per year which is less restrictive than the regional average.

YOY YOY YOY USD/RONGDP Growth Inflation Change

Romania has experienced the highest YOY GDP growth of the region.

Workforce

Overtime Premiums





RussiaAgriculture 7 % Services 66 % Industry 28 %







Tenure Russia Regional Ave





Tenure Russia Regional Ave





Yes





At 120 hours, Russia has one of the more restrictive annual overtime limits of the region. There are restrictions to working on a holiday day.

YOY YOY YOY USD/RUBGDP Growth Inflation Change

YOY inflation rate is amongst the highest in the region.

Workforce

Overtime Premiums





SerbiaAgriculture 21 % Services 53 % Industry 26 %







Tenure Serbia Regional Ave





Tenure Serbia Regional Ave





No





The annual overtime limit in Serbia is approximately 240 hours which is slightly more restrictive than the regional average.

YOY YOY YOY USD/SRBGDP Growth Inflation Change

Workforce

Overtime Premiums





SlovakiaAgriculture 4 % Services 61 % Industry 36 %







Tenure Slovakia Regional Ave





Tenure Slovakia Regional Ave





No





Overtime in Slovakia is more restrictive than most of the other countries in the region. The annual overtime limit is 150 hours.


Workforce

Overtime Premiums





SloveniaAgriculture 8 % Services 60 % Industry 32 %







Tenure Slovenia Regional Ave





Tenure Slovenia Regional Ave





Yes





Overtime in Slovenia is more restrictive than most of the other countries in the region. The annual overtime limit is 170 hours.


Workforce

Overtime Premiums





South AfricaAgriculture 5 % Services 72 % Industry 24 %







Tenure South Africa Regional Ave





Tenure South Africa Regional Ave





Yes



Payment by: Govt Empl ‐


Overtime in the South Africa is limited to approximately 480 hours per year which is considerably less restrictive than the regional average. There are restrictions on night work.

YOY YOY YOY USD/ZARGDP Growth Inflation Change

YOY inflation in South Africa is amongst the highest in the region.

Workforce

Overtime Premiums





SpainAgriculture 4 % Services 76 % Industry 20 %







Tenure Spain Regional Ave





Tenure Spain Regional Ave





Yes





At 80 hours, Spain has one of the most restrictive annual overtime limits of the region.


Spain has experienced above average YOY GDP growth.

Workforce

Overtime Premiums





SwedenAgriculture 2 % Services 79 % Industry 19 %







Tenure Sweden Regional Ave





Tenure Sweden Regional Ave





No


Paid Leave (days) ‐ 10 480

Payment by: ‐ Govt Govt


Overtime in the Sweden is limited to approximately 200 hours per year which is more restrictive than the regional average. There are restrictions on working on a holiday day.

YOY YOY YOY USD/SEKGDP Growth Inflation Change

Sweden has experienced above average YOY GPD growth. The SEK has depreciated against the USD.

Workforce

Overtime Premiums





SwitzerlandAgriculture 3 % Services 76 % Industry 21 %







Tenure Switzerland Regional Ave





Tenure Switzerland Regional Ave





Yes





Overtime in Switzerland is more restrictive than the regional average. The annual overtime limit is 170 hours. There are restrictions on working on a holiday day and night

work.

YOY YOY YOY USD/CHFGDP Growth Inflation Change

Workforce

Overtime Premiums





TunisiaAgriculture 15 % Services 51 % Industry 34 %







Tenure Tunisia Regional Ave





Tenure Tunisia Regional Ave





Yes





At approximately 580 hours per year, Tunisia has the least restrictive annual overtime limit in the region.

YOY YOY YOY USD/TNDGDP Growth Inflation Change

Year on Year, 12% depreciation in the value of TND against the dollar. YOY inflation is almost double regional average.

Workforce

Overtime Premiums





TurkeyAgriculture 20 % Services 52 % Industry 28 %







Tenure Turkey Regional Ave





Tenure Turkey Regional Ave





Yes





Overtime in Turkey is limited to 270 hours per year which is roughly in-line with the regional average. There are restrictions on night work.

YOY YOY YOY USD/TRYGDP Growth Inflation Change

Year on Year, 8% depreciation in the value of TRY against the USD YOY inflation in Turkey is amongst the highest in region.

Workforce

Overtime Premiums





UkraineAgriculture 15 % Services 59 % Industry 26 %







Tenure Ukraine Regional Ave





Tenure Ukraine Regional Ave





Yes





The annual overtime limit in Ukraine is among the most restrictive in the region and is set at 120 hours. There are restrictions on working on a holiday day.

YOY YOY YOY USD/UAHGDP Growth Inflation Change

Year on Year, 10% depreciation in the value of UAH against the USD. High YOY inflation and below average YOY GDP growth.

Workforce

Overtime Premiums





United Arab EmiratesAgriculture 4 % Services 73 % Industry 23 %







Tenure United Arab Emirates Regional Ave





Tenure United Arab Emirates Regional Ave




AED is pegged to the USD


Yes



Payment by: Empl ‐ ‐


At approximately 560 hours per year, the UAE has one of the least restrictive annual overtime limits in the region. There are restrictions on working on a holiday day.

YOY YOY YOY USD/AEDGDP Growth Inflation Change

YOY inflation is well below the regional average in the UAE. YOY GDP growth has been above average.

Workforce

Overtime Premiums





United KingdomAgriculture 1 % Services 80 % Industry 19 %







Tenure United Kingdom Regional Ave





Tenure United Kingdom Regional Ave





No



Payment by: Empl & Govt

Empl & Govt

Empl & Govt


At approximately 520 hours per year, the UK has one of the least restrictive annual overtime limits in the region.

YOY YOY YOY USD/GBPGDP Growth Inflation Change

Post Brexit vote, GBP has significantly depreciated against the USD. YOY inflation is at 1% , but forecast to rise to 2.7% in 2017.

Workforce

Overtime Premiums





tapfin quarterly market report european contingent ... · from dec. 1, 2016 the standard salary...

Documents