The updated report by Germany Trade & Invest (GTAI) on the Slovak labor market provides important tips for a clear HR strategy. An extra section is dedicated to labor law, which Igor Augustinič and Zuzana Dzilská contributed to.
The labor market in Slovakia remains tight—especially in the economic centers. For German SMEs (Small and Medium-sized Enterprises) with local branches or expansion plans, a closer look is worthwhile:
✅ Strengths:
➡️ Well-trained skilled workers
➡️ Labor costs remain competitive despite wage increases
➡️ Openness to Technology & AI
➡️ Dual vocational training is gaining importance
⚠️ Challenges:
➡️ Skilled worker shortage in key regions
➡️ High wage pressure for specialists
➡️ Low mobility & education detached from practice
➡️ Lengthy procedures for skilled workers from third countries
📈 Despite economic uncertainties, the unemployment rate remains low. At the same time, the number of vacancies is rising—especially in production, trades, and services.
🤖 Automation & AI are changing the requirements: Lower demand for classic IT roles, more demand for tech-savvy skilled workers.
🎓 Dual vocational training as a model for the future: German companies like Volkswagen, Brose, or Schaeffler are setting standards—with positive effects on securing skilled workers.
💡 Recruiting Tips: Job fairs, AI-supported tools, and local headhunters are important levers. Those who think long-term invest in training and onboarding.
In July this year, the long-awaited major amendment to the Insolvency Act was approved. The final version of the law will come into force on 01.10.2024.
The Czech state aid programme for investments in strategic production sectors in the amount of EUR 960 million (CZK 24 billion) has been just approved. It aims to facilitate the transition to a climate-neutral economy.
From July you can start bidding for subsidies for the construction of PV plants. Read the current bpv newsletter to see what it specifically concerns.
