Workforce in Serbia far cheaper than in Europe

Labor costs account for around 33 percent of the overall costs of doing business in Serbia, which is significantly lower than in developed countries, where they reach as much as 64 percent, as is the case in the Netherlands, Professor Zivka Przulj from the Belgrade Banking Academy said

On the eve of an HR conference on salaries and remuneration models to be held in Belgrade on May 28-29, Przulj said that most companies do not have clear criteria for measuring the performance of employees, as the criteria are arbitrarily determined by managers or owners.

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"This demotivates employees who work correctly and want their work to be remunerated," she noted.

Has Serbia become the land of fakes?

According to recently published data, around 650,000 employed people get their salaries with delay, and around 50,000 do not receive their salaries almost at all. Only around 170,000 employed in the private sector get their salaries on time.

Official statistics show that average net salary in January amounted to RSD 39,285, while the average consumer basket for the same month totaled RSD 65,936.

(Telegraf.co.uk/Tanjug)