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Hire In Slovakia

Introduction

Slovakia, also officially known as the Slovak Republic, is a landlocked country in Central Europe. The Covid-19 pandemic had a severe impact on citizens and the economy of Slovakia in the year 2020.

Slovakia handled the situation very well and is trying to fall back in place. The country is implementing new policies and educating its population to avail more employment opportunities.

Overview of Slovakia

Population- 5.5 million. (2020)  

GDP: 190.277 billion USD (2021)

Economic Overview

The economy in Slovakia is expected to rise by 4.2% in 2021, even due to the current pandemic situation. It is expected that from the second half of 2021, the domestic demand will rebound as restrictions are lifted and vaccines are distributed. The economy of Slovakia is further bound to grow by 5.2% in 2022 as the employment crisis is expected to decrease. 

Market Expansion

According to Statista Digital Market Outlook, markets in Slovakia are expected to continue growing over the next few years. The compound annual growth rate predicted for the market of Slovakia for the next four years is 5%.  

A brief glimpse of industries

  • Slovakia has stable policies for macroeconomics which makes the country more attractive for U.S exporters to do business.
  • The major domains of the Slovakia market are Engineering, electronics, automation, service, tourist industries. 
  • The automotive industry of Slovakia remains a major source for deficit financing and growth of export through inflows of foreign direct investment. 
  • Even after the disruption of foreign and domestic demand in Slovakia due to the covid-19 pandemic, the country has strong economic growth.
  • More focus on strengthening the population’s skills in Slovakia to generate more employment, boost productivity, and make the country’s economy more resilient.

Cost of living

Living in a country depends on many factors like the state, location, area, utilities, policies of that area, etc. The cost of living in Slovakia is also based on these factors. But the main factor of living in a country is always the location. The following table gives information about the cost of living in Slovakia:

Category Area of Expense Estimated Monthly Cost (EUR)

Category

Area of expense

Estimated Monthly Cost (Euro)

Rental

Hostels, PGs, Shared flats, and single accommodation

€ 400-600

Food and beverage

Household groceries and House helps

€ 100-150

Transport costs

Bus train and metro

€ 10-25

Utilities and miscellaneous

water, electricity, gas, wi-fi, telephone

€ 100-170

Salary Structure for various roles

The following table shows the average salary structure for various sectors in Slovakia:

Working Areas

Average gross monthly salary by survey in EUR

Administration

€ 1,137

Agriculture, Food Industry

€ 1,097

Arts & Culture

€ 1,067

Banking

€ 1,659

Car Industry

€ 1,410

Chemical Industry

€1,185

Commerce

€ 1,301

Construction and Real Estate

€1,453

Customer Support

€ 1,326

Economy, Finance, Accountancy

€1,445

Education, Science & Research

€ 1,113

Electrical & Power Engineering

€ 1,401

General labor

€ 831

Human Resources

€ 1,480

Information Technology

€ 2,125

Insurance

€ 1,466

Journalism, Printing Arts & Media

€1,202

Law & Legislation

€ 1,717

Management

€ 2,096

Leasing

€ 2,066

Marketing, Advertising, PR

€ 1,467

Mechanical Engineering

€1,311

Medicine & Social Care

€ 1,157

Mining, Metallurgy

€ 1,390

Pharmaceutical Industry

€ 1,549

Production

€ 1,246

Public Administration, Self-governance

€ 1,416

Quality Management

€ 1,521

Security & Protection

€1,467

Service Industries

€ 1,073

Technology, Development

€ 1,603

Telecommunications

€ 1,793

Textile, Leather, Apparel Industry

€ 806

Top Management

€ 3,731

Tourism, Gastronomy, Hotel Business

€ 1,054

Translating, interpreting

€ 1,373

Transport, Haulage, Logistics

€ 1,170

Water Management, Forestry, Environment

€ 1,182

Wood Processing Industry

€ 1,071

Cost of renting

The average cost of renting a single apartment or a PG, hostels, shared flats in Slovakia is around 400-600 Euros. The cost of the rent also depends on the standard of living and the location of the apartment. 

Cost of living based on lifestyle and location in Slovakia

Type of Apartment

Average Rent (EUR)

Range

Apartment (1 bedroom) in City Centre

471.61 €

343.33-700.00

Apartment (1 bedroom) Outside of Centre

378.05 €

500.00-1,200.00

Apartment (3 bedrooms) in City Centre

748.14 €

$660 ~ $2,000

Apartment (3 bedrooms) Outside of Centre

606.70 €

353.33-950.00

The top sectors expected to hire in Slovakia in 2021

S.No

Industrial Sector

Growth Percentage in terms of hiring and revenue

1

Agriculture and mining

-3.1

2

Manufacture of food, beverages, and tobacco

15.9

3

Manufacture of textile, apparel, and leather

-1.6

4

Manufacture of wood, paper, furniture, and other manufacturing

1.8

5

Printing, manufacture of petroleum products, chemicals

6.7

6

Manufacture of metals and metal products

-2.5

7

Manufacture of computers, electronics, machinery

0.7

8

Manufacture of motor vehicles

7.9

9

Utilities and waste management

11.9

10

Construction

7.8

11

Wholesale

10.0

12

Retail trade

4.1

13

Logistics and communication

14.3

14

Financial services

41.1

15

Hotels and restaurants

26.4

16

Computer/information and other non-public services

12.2

17

Education

-11.7

18

Public services

3.6

19

Healthcare and social services

24.2

Top Skills in Slovakia

The service sector in Slovakia has grown over the past few years and is now employing almost 69% of the population of Slovakia and majorly contributes to the country’s GDP. Slovakia is focusing on skilling its population to increase employment in various sectors and boost productivity. The types of skills given are based on the importance of a particular city and its dominant sector.

The following are the major industries hiring in Slovakia:

  • Automotive
  • Chemical Industry
  • Mechanical Engineering
  • ICT
  • BPO and shared services
  • Pharmaceutical and Life Sciences

Top Skills City-wise Occupation-wise

Bratislava is the wealthiest region of Slovakia and contributes 26% to the GDP of the country. Around 75% of the population of Bratislava works in service sectors like telecommunication, IT, tourism, banking. The famous Volkswagen factory is located in Bratislava. 

Košice is another economic hub of Slovakia located on the eastern side and contributes 9% to the country’s GDP. It is the second-largest employer in Slovakia, with around 13,500 employees working in the steel mill and other IT solutions. Other major sectors in Kosice are:

  • Services
  • Food Industry
  • Trade
  • Mechanical Engineering
  • Information and communication technologies

Prešov is the third-largest city in Slovakia and is known for its business centers in the country. It is also one of the major tourist attractions. Thus, the tourism industry provides the most occupation here. 

Žilina is the fourth largest city in Slovakia and is considered an important industrial area. The city is known for its construction and retail centers. The biggest employer present in the city is Kia motors which is a Korean car company. Other sectors present in Zilina are

  • Constructions
  • Transportation Engineering Industry
  • Chemical Industry
  • Textile mills

Hiring Cost

An important step in the hiring process is to determine the cost of hiring an employee. It depends on various factors like overall expenditure, cost of living, and many other factors such as cost of:

  • Onboarding employees
  • Training the employees
  • Other miscellaneous costs

Employment Laws in Slovakia

  • The Labor Code governs the employment relationship legislation in Slovakia.
  • To establish employment relations between the employee and the employer, an agreement has to be drafted and signed by mutual agreement.
  • The Labour code determines three types of contract work: activity contract, work performance contract, temporary student contract.
  • A contract between the employee and the employer should agree on the following specifications that are to be mentioned in the written contract:
    • Place of work
    • Job Description
    • Date of commencement of employment
    • Salary (unless the agreement has been agreed in collective bargaining).
  • An employee must be aware of regulations on safety, health, work, and collective agreement offered by the employer.
  • It is illegal for an employer to employ people without establishing proper employment relationships.
  • Two types of contracts exist in Slovakia as per the Labour Code. They are definite and indefinite contracts. The Labour Law is more aligned towards the definite contract period.
  • A new employee is entitled to a probationary period of three months. The period may extend up to six months for certain managerial positions.
  • Employees are entitled to some cash and non-cash benefits during their terms of employment.A new employee is entitled to a probationary period of three months. The period may extend up to six months for certain managerial positions.

How Can Skuad Help You In Hiring in Slovakia?

The hiring process in Slovakia is a multi-task that requires city-wise living costs, in-depth knowledge of the laws, trends, hiring costs, and more. Skuad solution is a one-stop solution for hiring employees and handling every aspect of the recruitment process. Skuad solutions Iets you focus on your project gives you the freedom to plan and expand your business without exerting any stress on the hiring process. Connect with Skuad Experts to know more.

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