Latvia, Riga – The annual Investment Forum “Investors’ Voice” organised by the Executive Search firm Pedersen & Partners and the law firm Klavins Ellex (formerly LAWIN) was held in Riga at the end of October 2015.

The purpose of Investors’ Voice is to encourage discussions on investing in Latvia and to explore the origins of foreign direct investment and its distribution between industries. Most importantly, Investors’ Voice hosts discussions on the future of economic development in Latvia, taking into account the shifting dynamics of global and European economies. This years’ focus was on the strategic choice faced by investors – organic growth versus acquisition.

Over the last couple of years, major acquisitions have taken place in Latvia across a wide range of industries – insurance and banking, food processing, consumer products, media, shipping, wood processing, telecommunications – and the processes of market consolidation will likely continue.

The panel of experts included Vjaceslavs Domrovskis, Director of the CERTUS think tank and former Latvian Minister for Economics, Karlis Krastins, Managing Partner at Prudentia, Girts Greiskalns, Executive Director at the Latvian Foreign Investors Council and Liga Merwin, Partner at Klavins Ellex.

The panel of investors included Vladislavs Mironovs, Head of Strategy Development at Citadele Banka, Deniss Sazonovs, Member of the Board at ERGO, Salvis Lapins, Investor Relations Manager and Member of the Board at Olainfarm, Normunds Stanevics, Executive Director at Food Union, Gatis Kokins, Chairman of the Council at Lattelecom, Martin Reinson, Partner at BPM Capital and Toms Didrihsons, Member of the Board and Chief Financial Officer at NP Foods.

This is the second annual Investors’ Voice event jointly organised by Klavins Ellex and Pedersen & Partners, and it attracted around 60 top-level executive participants from a broad range of multi-national companies that operate in Latvia. The discussions at last year’s event mainly focused on the dynamics and origin of foreign investment in Latvia and its effect on local corporate culture and development. 

Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com

If you would like to conduct an interview with a representative of Pedersen & Partners, or have other media-related requests, please contact: Diana Danu, Marketing and Communications Manager at: diana.danu@pedersenandpartners.com 

Riga, Latvia – Evita Lune, Partner at Pedersen & Partners speaks to „Dienas Bizness“ about dress codes and ethics in the business environment.

The appearance of candidates is not formally assessed during the selection process, but it is nevertheless of great importance in creating an overall impression. Some studies have shown that 75-90% of communication is non-verbal, meaning that the way in which information is presented is often more important than the information itself. It is critical for candidates to understand standard business etiquette, so that they are not disadvantaged by their appearance.

Even companies that do not have strict codes of business etiquette still expect their employees to follow the basic principle that their appearance should not cause detriment to their professional activities. Employees should appear pleasant, approachable, well-groomed and tastefully dressed.

Some innovative and specific sectors are more tolerant of free style in appearance, for example IT, the media and the creative industries. However, even in these fields a business-like appearance is expected for employees who interact with clients; their more wildly-dressed colleagues tend to be confined to back-office roles and functions.

Above all, employers value employees for their productivity and capacity, so general health will be more crucial than appearance for career development.

Evita Lune joined Pedersen & Partners in 2005; she is Partner, the Country Manager for Latvia and Head of the Retail Practice Group. As Partner Ms. Lune also takes on regional oversight, and through completing numerous senior level assignments Ms. Lune has established strong cooperation with clients in Poland, the Baltics, Scandinavia, Russia and CIS across such sectors as: Consumer Goods, Retail, Pharmaceutical, Manufacturing and the Professional Services sectors. Her previous experience includes three years with the Stockholm School of Economics in Riga as the Executive MBA Program Director and six years with Shell in international regional marketing management functions in Riga, Budapest and Brussels.

Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com

If you would like to conduct an interview with a representative of Pedersen & Partners, or have other media-related requests, please contact: Diana Danu, Marketing and Communications Manager at: diana.danu@pedersenandpartners.com 

Riga, Latvia – The HR Managers of most large companies do not participate in the work of the board. This role is seen as that of an administrator, not a partner of the management team.

Evita Lune, Partner and Country Manager for Latvia, discusses new research conducted in Latvia by the BA School of Business and Finance, and Riga Technical University Faculty of Engineering Economics and Management.

21% of the largest Latvian companies (each with more than 200 employees) participated in the research. The BA School of Business and Finance cooperated with the Riga Technical University in a unique project which examined trends and tendencies in human resource management across Latvia’s largest companies. One of the main findings of this research was that HR Managers in Latvia could potentially invest in and contribute to business operations to a significantly greater degree.

70% of the HR Managers involved in the research did not participate in the work of the Board. According to the researchers, this clearly shows that in Latvia, the HR Manager has more of an operational and administrative role, and is not seen as a member and partner of the management team.

"A powerful HR Manager in a top management team can make a significant contribution and have a long-term positive effect on business results. If the HR Manager of a large company only has an administrative role, this could indicate one of two situations – perhaps the HR Manager is not sufficiently interested or qualified to participate in the decision-making processes at the top, or perhaps the company is neglecting the potential of its managers and employees while it concentrates on processes, technologies and other factors affecting business.”

As a practical step to improve the situation in large companies in Latvia, Ms. Lune recommends implementing a rotation scheme for high-level management positions. For example, the sales, finance and production managers could try their hands in the HR Manager’s role, breaking down corporate stereotypes and bringing fresh perspectives to the board.

Evita Lune joined Pedersen & Partners in 2005; she is Partner, the Country Manager for Latvia and Head of the Retail Practice group. As Partner Ms. Lune also takes on regional oversight, and through completing numerous senior level assignments Ms. Lune has established strong cooperation with clients in Poland, the Baltics, Scandinavia, Russia and CIS across such sectors as: Consumer Goods, Retail, Pharmaceutical, Manufacturing and the Professional Services sectors. Her previous experience includes three years with the Stockholm School of Economics in Riga as the Executive MBA Program Director and six years with Shell in international regional marketing management functions in Riga, Budapest and Brussels.

Riga, Latvia –  Evita Lune, Partner and Country Manager for Latvia at Pedersen & Partners speaks to "Dienas Bizness" about the parameters of decision-making.

To succeed in business and people management, managers should not only be talented and well-educated, but also psychologically mature. They should have a strong ethical platform and a clear understanding of what is acceptable within business, competition and cooperation among companies and colleagues, and what is unacceptable. Managers should be able to present the vision and mission of the company, and to lead their employees to greater achievements.

A manager should be honest, respectful, humble and fair – exemplary moral values for a leader which have been borne out by history.

With the right teacher, spiritual advice can also be helpful. Some managers and politicians like to consult astrologers before important events and decisions, or use birthdate analysis when hiring new employees. However, such decision-making practices are considered irrational and unprofessional in the modern business environment, and are seldom discussed openly.

Evita Lune joined Pedersen & Partners in 2005; she is Partner, the Country Manager for Latvia and Head of the Retail Practice group. As Partner Ms. Lune also takes on regional oversight, and through completing numerous senior level assignments Ms. Lune has established strong cooperation with clients in Poland, the Baltics, Scandinavia, Russia and CIS across such sectors as: Consumer Goods, Retail, Pharmaceutical, Manufacturing and the Professional Services sectors. Her previous experience includes three years with the Stockholm School of Economics in Riga as the Executive MBA Program Director and six years with Shell in international regional marketing management functions in Riga, Budapest and Brussels.

Riga, Latvia − Planned immigration and the promotion of service centers are recommended to attract foreign investors to Latvia, Kaspars Kauliņš, Principal at Pedersen & Partners in an interview for “Dienas Bizness.”

“The population is decreasing, the labor supply is shrinking, and the increasing competition is actually inhibiting new investment. This is something that we also observe in the outsourcing industry here – although this field is relatively developed, we do not have enough employees that are proficient in languages such as German, English and Swedish. Moreover, we face a shortage of managerial candidates with international experience in shared services.

The Latvian labor shortages are to be expected due to the local demographic and geopolitical situation, and the way in which the workforce is structured here. One problem is the relatively high rate of structural unemployment – there is no work for people in the regions due to the lack of industrial companies, and there are no such companies in the regions due to the lack of skilled labor.

Let's be realistic and start with what we can do. The outsourcing field provides a wide range of possibilities – from simple first-level assistance call centers to advanced technological support and remote management. Therefore, in this field we should seriously start simple.

However, limited population growth in turn limits the possibilities for expansion and breakthrough in the outsourcing field, and it will be difficult to expand rapidly and build the infrastructure to a critical mass. If we could hire experienced managers who know how to organize outsourcing, we could then bring in a larger workforce or manage a workforce located outside Latvia. All this is possible but we have to start somewhere. We will start by looking at what is currently available, and will then develop opportunities and base our immediate planning on that.”

Kaspars Kauliņš is the Country Manager for Estonia at Pedersen & Partners. Mr. Kauliņš brings over 20 years of solid expertise in Executive Search, organisational development, HR and strategic business consulting. Throughout his career, Mr. Kauliņš has held various senior positions within the Consumer Products, Financial Services, Professional Advisory, and the IT & Telecommunications industries such as the Managing Director for the Estonian Business Centre in Riga, and the Managing Director & Chairman of the Supervisory Board with a regional Executive Search firm. He has also held senior HR positions with Hansabank, Swedbank Group, and served as the Group HR Director for SPI Group. Additionally, he was the International Business Development Director at the largest regional ITC company. Prior to joining Pedersen & Partners, Mr. Kauliņš was a leadership & strategy consultant with one of the leading training companies in Latvia.

Riga, Latvia – Evita Lune, Partner at Pedersen & Partners speaks to “Dienas Bizness” about workplace ethics.

“An employee who cares about the future of the company and is serious about his or her career development will not engage in office politics or backbiting,” she says.

Ms. Lune explains that the key to avoiding this kind of detrimental behaviour is the promotion of a corporate culture and company values that encourage professional, efficient and positive cooperation among colleagues.

“Values, communication and management style should be developed in accordance with the company’s mission and vision. The work environment should foster positive competition among employees, teamwork and the achievement of personal ambitions in a way that serves the company’s goals. A professional management team will not tolerate manoeuvrings or office politics: it is up to the company itself to build a transparent, professional and productive work environment and culture.”

Evita Lune joined Pedersen & Partners in 2005; she is Partner, the Country Manager for Latvia and Head of the Retail Practice group. As Partner Ms. Lune also takes on regional oversight, and through completing numerous senior level assignments Ms. Lune has established strong cooperation with clients in Poland, the Baltics, Scandinavia, Russia and CIS across such sectors as: Consumer Goods, Retail, Pharmaceutical, Manufacturing and the Professional Services sectors. Her previous experience includes three years with the Stockholm School of Economics in Riga as the Executive MBA Program Director and six years with Shell in international regional marketing management functions in Riga, Budapest and Brussels.

Ms. Lune has a PhD in Social Economy. Besides her native Latvian, Evita Lune speaks fluent English and Russian and has a good understanding of German and Swedish.

Riga, Latvia – Pedersen & Partners Principal Kaspars Kauliņš recently participated in the Reputation War Conference, where he shared his experiences of the need to identify purpose in all aspects of one's life. This purpose-finding process can in turn become the key to employee engagement.

The symposium gathered leading international speakers from Europe and over 250 professionals in the field of reputation management – business leaders, in-house marketing and communications professionals, consultants, analysts, journalists, bloggers, influencers and policy makers – to discuss the challenge of reputation-building and assess the importance of reputation management in the digital age. The participants analysed the latest challenges of reputation management between the countries and territories, business corporations, brands, leaders and individuals.

As one of the guest speakers in the "Leadership" session, Mr. Kauliņš highlighted the importance of identifying purpose in growing and developing organisations and businesses. “Purpose and meaning in life have always been important to people," Mr. Kauliņš commented. "Recently, purpose has become a buzzword in business thinking, and for good reason. It is one of the key drivers of employee engagement. The traditional mission and vision statements are now being replaced by purpose statements."

Mr. Kauliņš went on to explain that employee engagement drives creativity, productivity and satisfaction, thus improving the bottom line and the profitability of businesses: “In order to win the corporate reputation war, organisations have to change their employee value propositions and demonstrate how a person who works for that entity will be able to make a positive impact on the job, on the products and services he or she delivers to the customers. The leaders of an organisation are in a privileged position where they can influence all three layers of purpose within an organisation: creating a positive impact, connecting with other people by fostering meaningful relationships, and achieving continued personal growth.”  

Kaspars Kauliņš is a Principal at Pedersen & Partners. Mr. Kauliņš brings over 20 years of solid expertise in executive search, organisational development, HR and strategic business consulting. Throughout his career, Mr. Kauliņš has held various senior positions within the Consumer Products (FMCG), Financial Services, Professional Advisory, and the IT & Telecommunications industries such as the Managing Director for the Estonian Business Centre in Riga, and the Managing Director & Chairman of the Supervisory Board with a regional executive search firm.

Riga, Latvia - Kaspars Kauliņš, Principal at Pedersen & Partners spoke with the Latvian public broadcaster “Latvijas Sabiedriskie Mediji” about compensation in Latvian state-owned companies.

State-owned companies try to compete in the job market by aligning base salaries to private-sector levels, but compensation levels are limited, so that they do not exceed the average wage in Latvia plus a coefficient of variation equal to 10. This salary limit is bound to discourage good managers from working in the state and public sectors. With a few exceptions, private sector managers earn more.

"There were a number of difficult cases before the limitations were introduced, but aligning the base salary to the average wage plus a coefficient does not make for a flexible approach. The best managers cannot be put into a box. The question is – what is the motivation for experienced professionals to earn less at state-owned companies when they could theoretically earn more elsewhere?" asks Kaspars Kauliņš.

There is a huge difference between top executive compensation and average wages in Latvia. Last year, the average monthly salary in Latvia was 765 EUR before tax. However, average wages have recently increased by approximately 7%, based on both a strengthening export market and increases in the minimum wage. Salary increases are much higher in some specific areas, such as the IT industry.

Kaspars Kauliņš is a Principal at Pedersen & Partners. Mr. Kauliņš brings over 20 years of solid expertise in executive search, organisational development, HR and strategic business consulting. Throughout his career, Mr. Kauliņš has held various senior positions within the Consumer Products (FMCG), Financial Services, Professional Advisory, and the IT & Telecommunications industries such as the Managing Director for the Estonian Business Center in Riga, and the Managing Director & Chairman of the Supervisory Board with a regional executive search firm. He has also held senior HR positions with Hansabank, Swedbank Group, and served as the Group HR Director for SPI Group. Additionally, he was the International Business Development Director at largest regional ITC company, and prior to joining Pedersen & Partners, Mr. Kauliņš was a leadership & strategy consultant with one of the leading training companies in Latvia.

Riga, Latvia - Evita Lune, Partner and the Country Manager for Latvia at Pedersen & Partners, spoke to Dienas Bizness regarding Employee Value Propositions.

One positive trend in Latvia is that companies now care more about their image as employers. This is mostly due to the fact that employers struggle to find appropriate employees, especially for managerial positions. However, to ensure a company's long-term image as a reliable employer, it is not enough just to hire "superstars". Instead, employers must think in terms of Employee Value Proposition.

Wages are not the only reason why employees come to work – the most important aspect of an employer is the corporate culture, including the mission, vision and fundamental values of the company. Companies should ensure adequate compensation and bonuses, a comfortable working environment and atmosphere, career advancement opportunities (including study programs and international experience), and other benefits such as health insurance, pension funds and company cars.

2015 gada 13 janvārī – Rīga – Pedersen & Partners vadošās augsta līmeņa vadītāju meklēšanas kompānijas, kas sniedz pakalpojumus 53 birojos 50 valstīs, Baltijas komandai pievienojas divi nozares profesionāļi – Pasi Hartunens (Pasi Harttunen) Igaunijā un Kaspars Kauliņš Latvijā, kuri uzsāks darbu kā klientu direktori.

Pasi Hartunens veidoja karjeru līderības un personāla atlases jomā kopš 2004.gada. Šajā periodā viņš ir ieņēmis direktora un valdes priekšsēdētāja amatus plaši pazīstamos konsultāciju uzņēmumos Baltijā un Somijā. Līdz tam Hartunena kungs uzkrāja pieredzi finanšu sektorā kā uzņēmuma Sampo-Leonia reģionālais viceprezidents Somijā un If P&C Insurance attīstības direktors un valdes loceklis Igaunijā. Hartunena kungs ir arī Somijas-Lietuvas Tirdzniecības kameras valdes priekšsēdētājs.

Kaspars Kauliņš ir nozares eksperts ar vairāk kā 20 gadu pieredzi vadītāju atlasē, personāla vadībā un stratēģisko biznesa konsultāciju sniegšanā. Savas karjeras laikā Kauliņa kungs ir ieņēmis vadošos amatus dažādu nozaru uzņēmumos: patēriņa preces, finanšu pakalpojumi, profesionālās konsultācijas, IT un telekomunikācijas, kā arī ir bijis reģionālā vadītāju atlases uzņēmuma Fontes vadītājs un padomes priekšsēdētājs Latvijā. Kauliņa kungam ir ievērojama pieredze personāla vadībā, kas tika uzkrāta uzņēmumos Hansabank, Swedbank un SPI.

“Pasi un Kaspara pievienošanās komandai ir nozīmīgs solis mūsu ietekmes palielināšanai Baltijā. Abi ir pieredzējuši speciālisti, kas reģionālajā līmenī sasniedza ievērojamus rezultātus. Pasi ir apveltīts ar izcilām attiecību vadīšanas spējām, izpratni par stratēģisko vadīšanu un padziļinātām zināšanām finanšu un konsultāciju vadības jomā. Savukārt, Kasparam ir uzkrāta vērtīga pieredze un zināšanas par tām nozarēm, kas Baltijas reģionā  ir vislabāk attīstītas.  Kaspars ir apliecinājis sevi kā ilggadējs reģionālā vadītāju atlases uzņēmuma vadītājs un priekšsēdētājs. Esmu pārliecināta, ka jaunie komandas biedri nodrošinās mūsu klientiem visaugstākos kvalitātes standartus vadītāju atlasē”, atzīst Evita Lune, Partnere un Latvijas uzņēmuma vadītāja.

Pedersen & Partners ir viena no vadošajām augsta līmeņa vadītāju meklēšanas kompānijām pasaulē un vienīgā 100 % integrētā starptautiskā atlases kompānija Latvijā. Uzņēmums sniedz pakalpojumus 53 birojos 50 valstīs - Eiropā, Tuvajos Austrumos, Āfrikā, Āzijā un Amerikā. Pedersen & Partners ir vadošais uzņēmums Latvijā savā nozarē, kas veiksmīgi darbojas Latvijas tirgū jau 10 gadu. Plašāka informācija par uzņēmumu: www.pedersenandpartners.com

Kontaktpersona mediju pieprasījumiem: Marks Andersons (Mark Anderson), Mārketinga un komunikāciju vadītājs, Pedersen & Partners, mark.anderson@pedersenandpartners.com