Labour Productivity & Costs
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A comparison of global overall productivity in 2014 shows that Slovenia is the most productive of EU-13 new countries. In 2016, 2017 and 2018, labour productivity is expected to accelerate, although increase will be moderate (real growth rate around 1.5%) according to Institute of Macroeconomic Analysis and Development.
Overall productivity, 2014
GDP (PPP) per person employed (in EUR)
Source: IMD - World Competitiveness Yearbook, 2015
Estimated gross annual labour costs per employee in selected industries, 2016
|Chemicals & Pharmaceuticals||14,200||17,100||25,500||32,200|
|Electronics & Electrical||14,100||16,700||20,000||23,100|
|Logistics & Distribution||14,100||15,200||22,000||34,500|
|Machining & Metalworking||14,100||16,900||20,200||23,500|
Source: Adecco & own calculations, 2015
Labour costs include: starting level gross wage, average supplement on active employment, annual holiday bonus, reimbursement of meal expenses, reimbursement of travel expenses to and from work, employer's social security contributions.
Not included: extra payments for burdens at work, part of payment for good work results (measured on an individual or group basis), part of payment for successful company operations.
Structure of Labour Cost for Business sector
|1.||STARTING LEVEL GROSS WAGE (according to General Collective Agreement)|
|2.||+ Supplements on active employment (0.5% of (1) for every year of employment)|
|3.||- Employee’s social security contributions (22.1% on items (1)+(2))|
|4.||- Personal income tax (on items (1)+(2)+(6)-(3))|
|5.||STARTING LEVEL NET WAGE (1)+(2)-(3)+(4)|
|6.||+ Annual holiday bonus (amount range set by law: from minimum gross wage up to 70% of the average gross wage)|
|7.||+ Meal expenses reimbursement (amount range set by law: 4.12-6.12 € per working day)|
|8.||+ Reimbursement of traveling expenses to and from work (depends on the price of public transport: minimum 70%; otherwise 0.18 €/km)|
|9.||TOTAL MONTHLY EARNINGS (5)+(6)+(7)+(8)|
|10.||EMPLOYER’S SOCIAL SECURITY CONTRIBUTIONS (16.1% on items (1)+(2))|
|11.||MONTHLY LABOUR COST (1) +(2) +(6) +(7) + (8) + (10)|
Source: Institute of the Republic of Slovenia for macroeconomic analysis and development, 2016