2019 – The Year of Employment Opportunities

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Riga, Latvia – Evita Lune – Partner at Pedersen & Partners commented on the market trends and employment opportunities in Latvia in 2019 for Dienas Bizness.

2019 presents many opportunities for employees, therefore, companies plan to invest more resources in retaining programs; top talents who express a wish to change job or leave can expect to receive an offer of a substantial salary increase.

Employers will face many challenges because labour market trends will remain similar to last year: the unemployment rate continues to gradually decrease so the demand for labour grows, making the recruitment process more complicated and time-consuming. 

“Employer becomes more pleading, while employee – more demanding”

“Similar to 2018, this year will be good for employees. There is a shortage of specialists in the majority of functions, therefore high-level professionals and executives have the luxury to choose which company they want to join. Managers and owners of many companies also consider inviting foreign employees” says Partner Evita Lune of Pedersen & Partners.

Employers are more and more concerned with attracting, engaging and retaining employees, while the latter enjoy the increase in demand and are ready to consider new job opportunities. Wages are expected to rise 2-4% worldwide in 2019, in Latvia – around 3%. Media publications on average salary levels and labor shortage have contributed to the salary increase, thus employers are forced to think of making offers to guest workers and raising issues of work efficiency in general. The largest salary increase is expected in the Information and Communications Technology (ICT) sector.

Many companies had also planned certain budget allocations for employee retention. In cases when employees announce their intention to leave, company makes a counter-offer. Top talents would eventually receive an increase of 30–50%.

“Candidates are becoming more selective and prudent when it comes to decision to change their job; not only remuneration level matters, but also other factors such as company's reputation, long-term goals and career growth opportunities,” -  added Evita.

Read the Latvian version Here.

Published by Dienas Bizness
In the mediaLatviaWorkOpportunitiessalary increaseEvita Lune