Human Resources

What main factors make Slovak market to be attractive for investors from HR point of view?
Compared to neighbouring markets V4 (Czech Republic, Hungary, Poland), Slovakia still keeps the highest unemployment rate 9,42% (Poland 8,6%, Czech Republic 5% and Hungary 4,7%). Continuous tradition of diversified secondary school system with increasing ratio of dual system projects preparing future specialists for the market.

The strong technical background and tradition in various kinds of industry, mainly mechanical and electrical engineering, since first wave of investments in 1999 also automotive industry. The average salary from countries of V4 is the 3rd lowest one approximately 902 EUR.

The infrastructure of highways that will have connected eastern with western part and northern with southern part of Slovakia by 2022 and provide even higher mobility of Slovak workforce.

Pros of Investments in Slovakia
Slovakia has an experienced and skilled workforce – long-term manufacturing tradition, automotive production since early 90s. Attractive job opportunities for high school and university graduates as well as for experienced employees mainly from automotive and mechanical engineering sector from all over Slovakia.

There is a key presence of R&D centres in Slovakia – valuable sources of experts. Fast growing dual educational system to support qualified labour flow. Attractive ratio between labour price and qualified labour.

Slovakia 9th position in the world regarding adapting new technologies and high-innovation potential. Continuously improving infrastructure, building of new highways connecting Slovakia from East to West by 2022, supporting commuting of workforce, transport of supplies or finished goods.

Slovakia is a member of all important international structures like EU, NATO and OECD. By OECD the Slovak workforce belongs among 10 top most hardworking and performing along with USA or Japan. Euro currency – businesses in Slovakia will not loose money on exchanging currency. State support for new investments, stable and safe country, politically secure country.

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Katarina Novakova

“LUGERA is looking forward to tight co-operation with “The Voice of Slovak Business” as we believe it to be very effective and mobile tool to support growing business on both sides. As an experienced HR partner providing personnel services and consultancy we see great potential in educated and skilled labour force in different regions of Slovakia able to support new projects and increase amount of business exchange between UK and Slovakia.”

Katarína Nováková | Lugera & Makler | Regional Business Manager

“Slovakia is a strategically located investment location which has seen increasing interest from British companies in recent years. This is because Slovakia has a lot to offer as a politically stable Eurozone country with a simple tax regime and competitive skilled workforce. “The Voice of Slovak Business” can provide some valuable insight into doing business in Slovakia.”

Todd Bradshaw | PwC | Country Managing Partner

Wilfried Serles

“The voice of Slovak business is a unique cooperation between the Slovak Embassy in London and SARIO, which shall facilitate starting of new business in Slovakia. As this will be a perfect source of information for British businesses investing in Slovakia, this valuable initiative is kindly endorsed by Grant Thornton. Representing an advisory firm with a strong base in Central and Eastern Europe, I confirm that Slovakia is one of the top spots for doing business in the region. Our clients are highly satisfied with the quality of education and labor in Slovakia. They enjoy a local business environment, which makes it quite easy for them to achieve their goals in developing and growing their business. I might add that Grant Thornton’s most recent quarterly global survey of 2,600 businesses in 37 economies suggests that business leaders report strong increase in optimism heading into 2017. From conversations with our clients, I can say that uncertainty was the business buzzword of 2016, and much of that came from Brexit and the US presidential election. That uncertain period is now reduced, and knowing the results will allow businesses to have a clearer steer on such key issues such as jobs, trade policy and taxes. Grant Thornton is ready to assist investors in Slovakia from their starting point and is welcoming them with a big KISS – we will Keep It Small and Simple whenever they need to solve complex problems.“

Wilfried Serles | Grant Thornton Slovakia | Managing Partner

“We endorse “The Voice of Slovak Business”, the missing structure in growing Slovak and British economic trade and investment cooperation. The Embassy of Slovakia will provide assistance and support to the activities of “The Voice of Slovak Business” in line with the priorities of the Slovak Trade and Economy Policy. Providing high-level, first class events for business leaders in business sectors with the objective of bilateral trade. “The Voice of Slovak Business” will provide a solid and trusted platform for both Slovak and British business and give us the tools to promote and encourage investment into the Slovak Republic. Please help us in supporting this very exciting new business venture.“

Ľubomír Rehák | Ambassador of the Slovak Republic to the United Kingdom

Róbert Šimončič

“Slovakia offers great export potential, stable political and economic environment and the common European currency. We believe that Slovak Investment and Trade Development Agency (SARIO) has been contributing to the success of the Slovak economy quite effectively. Under the leadership of the Ministry of Economy, SARIO in close cooperation with other governmental institutions brought important investments to our country and turned Slovakia to a production service and commercial hub of the Central Europe and a preferred location for hundreds of major investors from the US, Asia and Europe mainly in automotive, electronics, SSC and IT/ICT sectors. Our future objective is to attract high value added investments, since Slovakia has a great technological potential.”

Róbert Šimončič | SARIO | Chief Executive Officer

“I am delighted to see the forming of “The Voice of Slovak Business” – the missing UK and Slovakia business connecting entity and platform, which I believe will surely prove its value for many starting or established businesses of any scale. The two key pillars – Information platform and Connecting people – can serve as the very base of future business growth in both Slovakia and Britain. I believe that in close cooperation with Embassies and Businesses, “The Voice of Slovak Business” will deliver new value for both countries and investments in right areas, right on time.”

Marek Uhrín | NESS KDC | Chief Executive Officer

Marian Christenko, KOSIT

”We firmly believe that companies operating on the Slovak market have already gained extensive experience that can be offered to foreign investors, which is why we consider “The Voice of Slovak Business“ project developed in cooperation with SARIO such an efficient tool to help us influence business environment on both sides in mutual cooperation. Being the leader on the Slovak market as far as turning waste to energy is concerned, KOSIT a.s. is happy to use this cooperation to introduce a new view of waste management in both countries. Waste management is not just about business and figures, but also about social responsibility and environmental protection.”

Marián Christenko | KOSIT | Chief Executive Officer

Boris Dula, CEIT

“Innovations are of great importance for every company, which wants to move forward, develop and succeed in the tough competition. Slovakia is the place, where, thanks to our smart people, unique innovations and excellent technologies for the industry are born. They have huge potential abroad. As leaders in the field of industrial innovations we believe, that “The Slovak Voice of Business” is the platform through which this potential can be turned into real projects with British partners.”

Boris Duľa | CEIT | CEO and Chairman of the Board