05.11.2021
WHAT KIND OF EMPLOYEES ARE COMPANIES LOOKING FOR
In October we saw a decline in published job postings. Their number is almost 44,000 and has decreased by 8.4% compared to September, and on an annual basis it is still 55% more than in October 2020, according to the monthly analysis of the dynamics of the labor market in our country, prepared from an HR company.
The IT sector remains the most stable. Despite a slight decline in supply in September, in October we again saw growth of 6% in this sector. In addition, the only sector in which we also see an increase in proposals is "Accounting, Auditing, Finance", with ad growth of 1.4%.
In all other sectors the number of job postings in October decreased as follows: "Marketing and advertising" (-2.8%), "Administrative and service activities" (-3%), "Production" (-7%), "Construction " (-9%),"Trade and sales" (-13%),"Health and pharmacy" (-15%),"Logistics and transport" (-15%) and "Hotels and restaurants" (-28%).
Share distribution of job postings by sectors
The Trade and Sales sector continues to be in first place in terms of the share of new job postings - by 21%. The IT sector is increasingly confident in holding the second position, increasing its share from 16% to 18%, and in third place remains "Manufacturing" by 15%. Followed by the sectors "Administrative and service activities" (10%), "Hotels and restaurants" (9.2%), "Logistics and transport" (8.9%), "Construction" (5%), "Accounting, auditing, Finance”(4.4%), Health and Pharmacy (3.7%), Marketing and Advertising (3%) and Art (1%).
Work from home
There is still an increase in offers for work from home and/or telecommuting. In October, they increased by 7%, and for the last four months this growth is as much as 29%. The share of this type of job postings in October was 13.5%.
The green certificate appears as a requirement
For a number of positions, there is a tendency to require applicants to have a so-called green certificate certifying a completed cycle of vaccination against COVID-19 or its disease. Currently, the number of job postings with such requirements is very small (only 0.2% of the total), but, like other countries, it is possible that it is growing due to the still high morbidity and the need to provide safe working conditions. For the time being, the predominant job postings with such a requirement are in the sectors "Hotels and restaurants" and "Service activities".
Offering by cities
The share of job postings in the leading regional cities already represents three quarters of the total number of ads in the country. Almost half of the proposals for new jobs in Bulgaria are concentrated in Sofia (49%), and for the other cities the figures are as follows: Plovdiv (10%), Varna (8%), Burgas (3.2%), Ruse 3%) and Stara Zagora (2%).
04.11.2021
WHAT TO DO WITH LOANS IN THE FACE OF RISING INFLATION
There are many people who spend unreasonably on goods and services that are far from being essential. They live on the principle of "salary to salary" and do not see the point in saving to be more sustainable in a time of inflation and rising prices. And while it is true that money is losing some of its value, the phenomenon is temporary and now is the time to be more careful about our purchases." This was explained by Rayna Mitkova, chairwoman of the Receivables Management Association (RMA).
She advises consumers to always set aside a buffer amount sufficient to cover their costs for at least the next 3 months. However, in conditions of rising inflation, the funds set aside should be sufficient even for 6-9 months.
"In order to be confident that we will be able to meet our needs even in case of unplanned difficulties, it is important to have savings with which we can live for half a year. If we are not in good financial health, we need to realize what is really important and deprive ourselves of a trip or new appliances, for example. Instead, we could set aside for basic necessities, whose prices are currently rising sharply - electricity, heating and fuel, food, household goods, other basic services we use. "Failure to pay the loan installments can also only make them more expensive," Mitkova added.
According to RMA observations, in addition to teleworking, the cost of computers and peripherals has also increased. The changes related to the pandemic are also a reason for some consumers to invest in repairs and furniture, as well as in the renovation of household appliances.
The number of non-performing loans in Bulgaria since the beginning of the year remains similar compared to 2020 and even slightly decreases. The general levels of payment for consumers are also relatively stable, according to data from the association.
This, against the background of the unstable economic situation and negative forecasts, paints a seemingly optimistic picture. According to experts, however, it is only apparent.
"We are seeing an increased risk of people between the ages of 40 and 50, who are traditionally the most conscientious payers. These people have more sustainable incomes, often take care of both their children and elderly relatives, have the most responsible behavior and they are accepted as the backbone of the economy. However, it is with them that the first signals of difficulties in covering the monthly installments are felt," said Rayna Mitkova.
According to RMA data, changes in people between the ages of 40 and 50 do not affect overall pay levels, as at this stage the decline is offset by other age groups. But the phenomenon is indicative of what is happening in our country at the moment.
"It is not yet possible to identify clear reasons for the fluctuations in the most resilient group. Most of these consumers actually have the opportunity to cover their contributions, but forecasts of an increasingly complex economic situation and a difficult winter make them limit their costs. however, the budget should not exclude the coverage of loan installments. Failure to repay will have the exact opposite effect on financial stability," said Rayna Mitkova.
The pandemic stands out as a major factor in the reasons for non-payment given by consumers. Over 20% of all customers cite COVID and the economic consequences as a reason for delaying their contributions. Difficulties include reduced wages or redundancies due to pandemic conditions, limited access to a cash register or bank as a result of illness or quarantine.
In the big cities the payment is higher compared to the smaller settlements, the data of the RMA also show. Burgas, Stara Zagora and Blagoevgrad report improvement of this indicator on an annual basis. At the same time, in Ruse, Veliko Tarnovo and Vratsa there is a greater difficulty in repaying the installments compared to 2020. The Association expects that this trend will continue, as traditionally poorer regions are the first to suffer from negative changes in the macro environment.
"The long-term forecast of when the economy will take off is extremely difficult at the moment. However, the short-term forecast is clear - a difficult winter is coming and maintaining financial stability - from the general to that of each household, depends a lot on consumer behavior and discipline. Revision of budgets and proper allocation of funds will be key to our sustainability during the challenging period," Mitkova added.
04.11.2021
THEY APPROVED THE FINANCIAL SUPPORT FOR HEATING OF BGN 300 ONE-TIME
"The Council of Ministers adopted a decree providing additional financial assistance to individuals and families who do not meet the conditions for energy assistance under the Energy Assistance Program."
This was said at a briefing after a meeting of the Council of Ministers by the Minister of Labor and Social Policy Galab Donev.
"We are expanding the circle of those persons who by up to BGN 30 exceed the threshold of the required minimum for applying for monthly aid for energy support during the autumn-winter season. We are also expanding the circle for persons who are registered in the labor offices less than 6 months, to be able to receive this targeted financial support of BGN 300 once for the upcoming heating season," he said.
According to him, such assistance will be provided to all people with disabilities who have more than 50% disability, single elderly people, single mothers and all risk groups. For this purpose, BGN 15 million have been allocated from the budget.
04.11.2021
BULGARIA IS ALREADY A MEMBER OF ALL ORGANIZATIONS IN THE WORLD BANK GROUP
The Minister of Finance Valeri Belchev signed the Memorandum of Association of the International Development Association, with which our country became the 174th member of the IDA.
The ceremony took place in the office of the Permanent Representation of the World Bank Group in Bulgaria, which was attended by the Permanent Representative of the institution Fabrizio Zarcone and the Deputy Minister of Finance Monica Dimitrova-Beecher.
"I am honored to sign the IDA Memorandum of Association, which opens a new chapter in our partnership with the World Bank. Today's event is a good example of our strong cooperation with the Bank. I am glad that Bulgaria is already a full member of all organizations of the World Bank Group," said Minister Belchev during the ceremony.
He expressed gratitude to the management team of the institution for the expertise provided in support of the sustainable development of our country. Akihiko Nishio, WB Vice President for Development Finance, who heads IDA, Anna Bierde, Vice President for Europe and Central Asia, Kuun Davidze, Executive Director representing Bulgaria on the WB Group Board of Directors and Deriatu Guy, vice president and corporate secretary, joined the event via video conference. Kuhn Davidze welcomed the Minister of Finance to the IDA and added:
"We are proud and appreciate that Bulgaria has succeeded in making this great transformation and progress."
The signing of the Memorandum of Association is the last step for finalizing the procedure for membership of our country in IDA. The Minister of Finance and Governor for the Republic of Bulgaria in the organizations of the World Bank Group is authorized by a decision of the Council of Ministers to sign the original copy of the Memorandum of Association of the IDA on behalf of the Bulgarian government.
The IDA was established in 1960 and complements the work of the International Bank for Reconstruction and Development by assisting the poorest countries by providing loans on a subsidiary basis, grants and technical assistance, and is also committed to debt relief through various initiatives. IDA subscriptions and contributions are reported as official development assistance.
The World Bank Group includes five institutions: the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the Multilateral Investment Guarantee Agency, and the International Center for the Settlement of Investment Disputes.
This form of ceremony is being organized for the first time and despite the challenge, its successful implementation marks the beginning of a new approach, which remains in history as unique and the only one so far to sign such an agreement.
03.11.2021
ENTREPRENEURSHIP: FIVE CUSTOMER RETENTION TACTICS THAT WILL PAY OFF FOR YOU
Finding a new customer costs five times more than keeping an existing one. That's why customer retention tactics are so important.
One of the biggest challenges for small businesses is building a customer base. Once your business has a sea of customers, it is essential to get them to keep buying from you, writes the online edition business.com.
Today, customers have more power than ever - the power of choice. With so many options available, your valued customers will easily switch to your competitor's product or service. A study by Bain & Company found that "a customer is four times more likely to turn to a competitor if the problem is with a service than with a price or product."
However, service is not the only variable. If your business is targeted at millennials, for example, 60% of them will regularly change their brand preferences to save money.
The online edition summarizes five ways to keep your hard-earned customers.
Maintain a high quality of service
Make sure all your employees are on the same page when it comes to how they treat customers. Every point of contact with customers must be of high quality - be thorough, answer questions and listen. Communication makes everything easier.
If you want loyal customers, focus on the big picture - the overall customer experience.
Express gratitude
Expressing gratitude has a big impact on how customers perceive the quality of your service and boosts loyalty in return. Customers want to feel valued and in turn appreciate that.
A great way to show your customers that you are grateful is an email thanking them for a recent purchase, a handwritten thank you card every year around the holidays, a monthly offer with special discounts, free shipping, and more.
Dissatisfied customers share their experiences with 20 or more people, while satisfied customers tend to tell only a few of their loved ones. A way to avoid negativity and opponents is to set realistic expectations from the beginning.
Add a personal touch
Think of ways you can make your client feel special. Someone with young children can appreciate the help in transferring purchases to the car. Another customer may appreciate the help while shopping for a birthday gift for their life partner.
Take the time to add a personal touch when interacting with customers. This shows that you care and strengthens your position as the number one choice in the minds of your customers.
Speed does not always guarantee quality
When it comes to customer service, what makes them come back to you is that quality takes precedence over speed. A Gallup Group study says that customers are nine times more likely to engage with a brand whose service they have experienced and it has proven to be useful.
Those who bet only on speed get less loyal customers.
Offer loyalty programs
The key to creating working loyalty programs is to understand why customers use them and what drives customers to keep using them. First, be sure to integrate loyalty into the full experience. Customers want to make things simple and enjoyable for them and make the experience enjoyable over and over again.
Customer retention is a vital part of your business success, along with the ability to adapt and change along with your customers' needs. With each new program you implement, be sure to keep track of whether it works or not. There is no point in starting a new campaign if you are not monitoring its progress.
03.11.2021
TRANSFER OF WORK, DOCUMENTS AND ITEMS WHEN LEAVING WORK. RECEIPT OF DOCUMENTS WHEN LEAVING A JOB.
Necessary steps to take when leaving work:
We advise you not to store anything in person on your office computer, but if you still have your information on it and the company's policy allows you to download or send information, download the personal information to your USB or send it to your personal email.
Don't forget to clear the contacts in your business phone, as well as delete the settings of your social network accounts, photos, videos, emails and SMS from the computer and the business phone.
Upon leaving, you will have to return the property of the company you use - business phone, car, computer, tablet or other, for which you will have to sign handover protocols. The company should provide them.
If you have signed such protocols at the beginning of the work, but they do not provide them to you when you leave - request them. It doesn't happen often, but it's a good idea to insure yourself if they decide that if you don't have a signed document, you haven't returned your phone, for example, and ask you to pay for it.
If you are a materially responsible person, you should report and return all cash and goods to you - business advance, debts from customers, goods.
You may even be in a position for which a revision or inventory needs to be made.
Your line manager or accountant should organize this process and accept everything.
Lastly, they may ask you to fill out a so-called detour sheet, in which you can collect signatures from the departments related to your position, certifying that they have done the work related to your release.
For different companies and positions, these departments are different, but in general these are:
Accounting - in terms of documents and money
Direct manager - in terms of acceptance of inventory
Information technology - in connection with the suspension of your access to a business computer, business email and information system
Human resources - for conducting an outgoing interview, returning powers of attorney, receiving documents, etc.
WHAT DOCUMENTS SHOULD YOU RECEIVE WHEN LEAVING
Your completed employment record book must have the signatures of the manager of the company and the chief accountant.
It should also bear a stamp stating your length of service with that employer in years, months and days (or simply written), and a sentence stating whether your work experience is equal to your insurance experience.
Example
If you are employed full-time - 8 hours, then your insurance experience is equal to your work experience.
However, if you are employed on a 4-hour working day, then your length of service is not equal to the insurance period. If in this case your work experience is, for example, 24 months, then your insurance experience will be half - 12 months.
You need the UP-2 and UP-3 certificates when you retire and to certify additional work, if you have done so.
From 01.01.2018 the employer has an obligation to issue you these certificates at your request only for periods before 2000 (Art. 5, para. 7 of the Social Security Code and item 3 of Decision № 411 of 2016 of the Council of Ministers, legal measure 62).
For length of service after 2000, employers are not obliged to issue UP-2 and UP-3, as these data are already in the electronic register of the NSSI.
You need it, if you start working for the next employer in the same year in which your contract was terminated, to equalize income tax.
Ask for your documents to be ready and receive them on your last working day. If they don't, here's what the law says:
The employer is obliged to provide you with the documents for termination of your contract on your last working day - notice, order, employment record book.
The employment record book can be delayed up to 5 working days. The employer then owes insurance for the days of delay.
The other documents (the official note and the certificates UP-2 and UP-3) are issued within 14 days from their request.
If they don't give you all the documents right away, you'll have to go there again when they're ready.
Ask them to hurry, however, because you have a deadline to register with the Labor Office.
WHAT SHOULD I TELL MY BOSS WHEN LEAVING A JOB?
It's about this awkward conversation with your boss, in which he asks you why you decided to leave.
It may happen at the time of your application to leave or on any of the following days.
Be brief and well-meaning, no matter what your vision of the company or its qualities as a leader. This will avoid any future problems with your release.
Share with him your desire for your future development, rather than the problems in the company that led you to this decision.
EXAMPLE
I am grateful for everything I received here, but after… years of working together, I would like to continue my development in another branch/other field, with more opportunities for professional development and growth.
Is it possible to receive a counter-offer for a job during this conversation and whether to accept it?
In any case, ask for time to think about the counter-offer from your current employer. And try to answer the following questions:
Would you have received this salary increase, this new position or these benefits if you had not decided to leave and had just continued to do your job conscientiously?
What is the guarantee that the company will magically change and you will already be happy with it?
Do not tell your new employer that you are considering a counter-job offer from the current one. Only let him know if you decide not to leave and not to start working with him.
HOW SHOULD I SAY WITH MY COLLEAGUES WHEN LEAVING?
Send an e-mail to colleagues.
Send a short e-mail to your colleagues to let them know that you are no longer an employee of the company. Thank them for their time together and wish them success. Leave a personal email and phone number to contact you if you wish.
Whether you like everyone or not, show them how to leave with dignity and be polite. The world is small, you will probably meet some of them in the future, so keep a good tone.
Do the same to the employer if you wish.
01.11.2021
THE MINISTER OF LABOR AND SOCIAL POLICY APPROVED AN ORDER FOR DETERMINING THE COEFFICIENT OF OCCUPATIONAL INJURIES BY ECONOMIC ACTIVITIES FOR 2022
The Minister of Labor and Social Policy Galab Donev approved an Order for determining the coefficient of occupational injuries by economic activities, which will be applied in 2022.
According to the Health and Safety at Work Act, employers are obliged to fully insure at their own expense the employees who perform work that endangers their life and health. This measure is mandatory for enterprises in economic activities where the risk of an accident at work is equal to or higher than the national average.
Accident insurance covers the risks of death, permanent incapacity for work and temporary incapacity for work due to an accident at work.
The insurance obligation does not apply to employees who work in the administration of the enterprise or perform tasks that are ancillary and not directly related to its core business.
01.11.2021
THE DEADLINE FOR APPLICATIONS UNDER THE MEASURE 60/40 FOR AUGUST AND SEPTEMBER EXPIRES
Consultancy Center - Berkovitsa reminds that at 5 pm the deadline for submitting applications under the measure 60 to 40 for the months of August and September expires.
According to the measure, employers can apply, who want to keep their staff until the end of the year. Receipt of state aid is reduced by the income of the respective business by at least 30 or 40 and more percent compared to the corresponding period.
The amount of the provided funds for each worker or employee is determined on the basis of the insurance income for the month of July this year.
As a deadline of 5 pm today for receiving funds for the months of August and September will be reported for documents sent through the system of secure electronic service, signed with a qualified electronic signature or through a licensed postal operator, which is certified by the date and time of submission of documents. The documents submitted after this date will not be subject to inspection and evaluation by the commissions in the labor offices.
From today until November 30, the deadline for accepting documents under the measure 60 to 40 for receiving funds for the month of October begins to run.
By a decision of the caretaker government, this measure to maintain employment was extended until the end of the year, for which purpose BGN 250 million have been provided from the budget update and at least 66,000 people are expected to keep their jobs every month.
01.11.2021
ENTREPRENEURSHIP: WHAT IS HUMAN CAPITAL MANAGEMENT AND HOW CAN YOUR BUSINESS BENEFIT FROM IT?
Human capital management covers all the processes that businesses undertake during the search, hiring and training of people to optimize productivity.
To get the most out of their teams and retain the best talent, managers and leaders need to invest in the right practices and resources, writes the online edition business.com.
One way to achieve this is through human capital management (HCM). A set of practices related to human resource management (HR), human capital management refers to any part of the recruitment, hiring, maintenance and optimization of talent in an organization.
It is essential to understand what HCM is, how to implement it in your own business and the benefits of adopting HCM software.
What is Human Capital Management (HCM)?
HCM is a process of hiring the right employees and optimizing productivity so that the workforce is managed efficiently. What was once seen as a major administrative process for an organization is now an essential part of the value of the business. These are some important HCM strategies: recruitment; turn on; training; payroll; retirement services; talent management; reports and analyzes.
How is HCM different from HR?
While the terms "HCM" and "HR" are often used interchangeably, they have different meanings.
Human resources focus on the traditional core employee management functions for the entire organization. These include hiring, managing jobs and positions and administrative support. HR creates and manages the way a company acquires and trains talent.
Human capital management can cover the above processes, while supporting the management of talent and workforce. HCM systems tend to maximize the value and return on investment of each employee.
What are the administrative elements of HCM?
Human capital management involves many elements that move into different areas of the organization. Divided by life cycle, here are each:
Recruitment of potential talents
HCM facilitates the hiring process by increasing the speed with which it recruits future candidates and the quality of its future employees. For example, this can increase commitment to work-life balance solutions that motivate applicants and show them that the organization cares about its employees. Companies entice candidates not just by sharing their list of benefits and work-life balance, but by informing them how the company invests in the professional development of employees.
Detention of current employees
HCM practices also offer administrative support to current employees. This may include workflow, benefits, salaries, IT and other types of management. Unlike standard practices, the company's HCM is unique to the organization and the employees who work there. HCM has also streamlined these operations to make them more efficient. In addition, analyzes are applied to make data-driven decisions about work culture and employee behavior.
Optimization and development of talents
Managers usually meet regularly with their employees to discuss career development goals and how they would like to advance in the company. From these conversations, managers work with the employee to create realistic goals and career paths. HCM can help by offering training and educational resources for further staff development.
What is HCM software?
Organizations can use HCM software to implement talent management and optimization systems within a company. It differs from human resource management system (HRMS) and human resource information system (HRIS) in that it takes care of efficiency and workplace development compared to collecting demographic information. While HCM, HRMS, and HRIS differ, the systems may support a similar set of features, such as payroll, employee self-service, and benefit administration, depending on the provider.
HCM software can customize and automate the features your organization needs to maximize employee efficiency. The app can record, organize and store employee data to help you make data-based decisions about each employee's performance. Software managers can add and monitor specific goals and record employee performance to show their progress. Other functions include talent management, candidate tracking, inclusion, in-house training and attendance monitoring.
What to look for in HCM software
Choosing the best HCM software for an organization comes down to the needs of the team. Make a checklist of requirements to know what exactly you want from such a system. There are several factors to consider when researching which HCM software is best for your business: cost, compatibility, performance, adaptability, practical data information, ecosystem connectivity, maintenance, and more.
Most companies do not build their internal systems from scratch, so they will need to integrate their HCM software with their existing system. Pay attention to the technological requirements of the software and whether it can be customized according to your unique needs.
On the other hand, you also have a certain budget in which you need to fit. Some smaller companies may find that they cannot afford more stable agency software packages, but they may also not need all the features included in those packages.
What are the advantages of HCM software
HCM software allows you to make data-based decisions. This can save you money in the long run.
These systems also help increase employee satisfaction, which will become more productive and happy if business decisions are made based on their development. With software that supports development goals and promotes professional development, employees will feel that the company values them and invests in their work.
This will also improve the retention rate of employees. This will reduce the cost and time spent hiring and training new employees.
As a result, you also improve the company culture. Employees will be more engaged with the company, increasing their efficiency and ability to cooperate. Internal communication throughout the company can be improved as a result of both positive thinking and better processes.
What are the potential disadvantages of HCM software
The most important thing is the cost of implementing this software. You need to make sure you have the funds within your budget to afford these systems in the long run.
Also consider the risk of data leaks. As with any computer system or application that collects employee data, there is a risk that this information will be hacked. There are strict security measures that your company can take to keep your HCM data safe.
Adopting HCM technology could have a higher cost before you see a return. Discuss with your IT and internal team how long it will take to implement the software, what the financial burden will be with a long start-up, and how the problems that HCM software solves will be affected by future repayments.
29.10.2021
THE NUMBER OF UNEMPLOYED YOUNG PEOPLE HAS DROPPED NEARLY TWICE A YEAR
Unemployed youth have decreased by 40% in one year. In September, 16,990 people under the age of 29 were registered at employment offices, which is 11,553 less than in the same month in 2020, according to statistics from the Employment Agency.
The data show that the number of unemployed young people is declining both among graduates and those with secondary and primary or lower education. For young graduates the decrease is by 33% - to 2258, and for high school graduates - by 14.2%. On an annual basis, the number of young people with primary and lower education decreased the most - by 56%.
Nearly two thirds of the unemployed under the age of 29 are without qualifications and specialties. Compared to September last year, their number has decreased by nearly 47%. Every second unemployed young person manages to find a job within 4 months after registering with a labor office. However, 2,738 young people are permanently unemployed and have been looking for an employer for more than 12 months. Their number decreases by 20% on an annual basis.
In September, 4,224 unemployed young people registered at the labor exchange. Compared to August, their number increased by 6.8%, but on an annual basis decreased by over 27%.
In the period January - September 2021, 30,111 unemployed young people started working. 19,553 of them were employed in the real economy, and 10,578 began working on programs and measures for subsidized employment, funded by the European Union and the state budget. 961 young people have started training to become more competitive in the labor market.
