The Guide to Human Resources in Serbia 2022

CONTENTS

04 LET HUMANS CONCENTRATE ON WHAT HUMANS DO BEST

08 HR REVOLUTION OR REIMAGINING REQUIRED

& INCLUSION AS A VEHICLE TOWARDS 07 DIVERSITY EXCELLENCE

09 WE OWE OUR SUCCESS TO OUR STAFF

EVEN BOLSTAD, PRESIDENT OF THE EAPM, MANAGING DIRECTOR OF HR NORGE AND BOARD MEMBER OF THE WFPMA

TATJANA JOVANOVIĆ, HR DIRECTOR AT HEMOFARM

MARIJA KOSANOVIĆ, HR MANAGER, GEBRÜDER WEISS D.O.O.

IVANA TODOROVIĆ, HEAD OF HRO AT BANCA INTESA

IMPRESSUM EDITOR IN CHIEF: Neda Lukić n.lukic@aim.rs

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ART DIRECTOR: Branislav Ninković b.ninkovic@aim.rs

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CONTRIBUTORS: Rob Dugdale, Maja Vukadinović, Mirjana Jovanović, Miša Brkić, Ljubica Gojgić

Radmila Stanković, Steve MacKenzie, Zorica Todorović Mirković, Sonja Ćirić, Miloš Belčević PHOTOS: Zoran Petrović COPY EDITOR: Mark Pullen TRANSLATION & EDITING: PULLEN EDITORIAL HALIFAX

SALES MANAGERS: Biljana Dević, b.devic@aim.rs Vesna Vukajlović, v.vukajlovic@aim.rs Mihailo Čučković m.cuckovic@aim.rs OFFICE MANAGER: Svetlana Petrović s.petrovic@aim.rs

FINANCE: Dragana Skrobonja finance@aim.rs EXECUTIVE DIRECTOR: Maja Vidaković m.vidakovic@aim.rs PUBLISHER: Ivan Novčić i.novcic@aim.rs

DIRECTOR: Ana Novčić a.novcic@aim.rs a.novcic@cordmagazine.com HUMAN RESOURCES 2022 PRINTING: Rotografika d.o.o.

Segedinski put 72, Subotica CorD is published by: alliance international media

Prote Mateje 52, 11111 Belgrade 17, PAK 126909, Serbia Phone: +(381 11) 2450 508 Fax: +(381 11) 2450 122 E-mail: office@aim.rs office@cordmagazine.com www.cordmagazine.com www.aim.rs ISSN no: 1451-7833 All rights reserved alliance international media 2022

IMPORTANCE OF LIFELONG LEARNING AND 10 THE DEVELOPMENT IN TODAY’S BUSINESS ENVIRONMENT

IVA TERZIĆ, TEAM LEADER FOR LEARNING AND DEVELOPMENT, HR BUSINESS PARTNERSHIP DEPARTMENT, OTP BANKA SRBIJA

12 EDUCATION IS A MATTER OF PRESTIGE

MARIJA TEŠIĆ, EXECUTIVE DIRECTOR, COTRUGLI BUSINESS SCHOOL

14 PEOPLE FORM THE FOUNDATION OF EVERY SUCCESS HR, CURRENT NEWS & INTERESTING DEVELOPMENTS

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HUMAN RESOURCES 2022 3

INTERVIEW

EVEN BOLSTAD, PRESIDENT OF THE EAPM, MANAGING DIRECTOR OF HR NORGE AND BOARD MEMBER OF THE WFPMA

Let Humans Concentrate On

WHAT HUMANS DO BEST I see technological development as an important part of the solution for everything from demographical shifts to environmental sustainability. That also includes HR, where AI will replace a lot of manual work processes and incorporate better quality into others. Yet the work cannot be done without the active presence of mature, ethical and knowledgeable HR and leadership professionals

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s an economist and technology optimist, Even Bolstad, president of the EAPM, managing director of HR Norge and board member of the WFPMA, has a lot to say about current trends in skilling and reskilling, telework, the use of artificial intelligence and experiments with work time. Many of his thoughts are provocative and contrary to current flows, yet they

are well supported. That’s why this interview represents an intriguing journey into the present and future of work.

How have rapid technological changes and the adoption of AI changed the supply and demand of skills & competencies? What skills & competencies do employers want the most and what can and can’t they receive?

There are skills gaps all over the place. If we don’t invest in and prioritise basic education, higher education, reskilling and upskilling, we will all suffer from that - individuals, society and companies.

Certain kinds of engineering and ICTskills are the most obvious answers when it comes to the question of where demand is most urgent. The demand side is massive, and for some skills the

WAGES

ETHICS

If we don’t invest in and prioritise basic education, higher education, reskilling and upskilling, individuals, society and companies will all suffer

If the market has sufficient labour resources, the free movement of services creates a “race to the bottom”. As such, I personally strongly support the underlying idea of the EU minimum wage

Not making use of AI could easily be unethical.

Not only because AI will make better judgements than humans in many cases, but also from the perspective of the humanisation of working life and value creation

What challenges does Europe’s shrinking and ageing population create for employers and HR managers?

Demographic changes come in tandem with increased demand for personnel with STEM competencies (Science, Technology, Engineering and Maths). There is nothing new in this; we have known it was coming for decades.

But companies have been short-sighted and governments, universities and others have not been able to build capacities in the education system. Many also consider STEM education more challenging than other studies, and students choose studies that are less challenging.

Given that at least some STEM education is also more expensive to deliver, one might say that customers and producers have found each other in short-termism.

An ageing population, with the medical ability to prevent and cure more and more, and the increased life expectancy of inhabitants, also creates pressure on health services. Some of this pressure might be alleviated through the increased use of technology. But you also need

a higher share of the total working population employed in professional and public healthcare services. As a society, it is pivotal to retain the participation rate – i.e., the percentage of the potential workforce that is actually working – at a high and increasing level. If this is not achieved, we are unable to finance healthcare, education and other elements in modern welfare systems.

How have the massive shift to work from home and telework impacted the world of HR? Is it your view that employees will return to offices like before or not?

The toothpaste is out of the tube, and you will never put it back. The home office period has been tough and many have struggled, but it has also been a blessing for many. We don’t like a

As a society, it is pivotal to retain the participation rate – i.e., the percentage of the potential workforce that is actually working – at a high and increasing level, otherwise we won’t be able to retain our welfare systems home office if it is imposed upon us; we want to choose it for ourselves. And most of us want a combination, often not more than two or three days per week. Moreover, preferences vary with age, position, size of home, the distance travelled to work, family situation, job type, job seniority, personality and a lot of other factors.

In general, increased flexibility is a blessing.

But, again, a warning: it might also be a trap for equal opportunities. If flexibility means that mum is staying and working at home, while dad is forging a career, a lot of what has been achieved over the last decades will be lost.

Bad for mum, bad for companies and bad for society. Equal rights and equal opportunities often start with inherited expectations on how to divide responsibilities at home. If we are not

able to cope with that, it is difficult for work life to compensate.

Telework also created opportunities for companies to hire workers from abroad. How massive is this trend?

Telework, at its core, has to do with the price differences between markets opening up to each other. Translated to HR, it’s about labour being cheaper and more available in one country than another.

As an economist, I would say that, if labour was in short supply, these price differences would be settled primarily through increases in wages where demand is concentrated, as we have seen happen when it comes to skilled ICT in the Baltics and elsewhere.

This, again, creates several new challenges.

Firstly, as employers cynically might state, salaries are conterminous. If wages within one group increase, that has a knock-on effect on other groups that might not be able to produce enough value to defend the pay-out through their individual productivity.

Secondly, international competition in wages might drain the whole community for the essential competencies that are necessary to raise the community in general. As an example, if municipalities are unable to hire engineers or teachers, free labour competition might be regarded as sub-optimalisation put into the system. As one Norwegian politician once put it: “It is like peeing your pants to keep warm”.

Rather short sighted – not very sustainable.

And, of course, if the market has sufficient labour resources, the free movement of services opens up a “race to the bottom”. As such, I personally strongly support the underlying idea of the EU minimum wage.

We have seen a surge in new apps for worker surveillance during the Covid-19 pandemic.

Some of these apps proved to be invasive and detrimental to the psychology of workers.

What are your standards with respect to surveillance apps, either in the workplace or in telework?

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salaries are just going through the roof. In this area, the skills gap is global, and companies are conducting global talent searches. Some stay and continue living in their home countries, while others might very well work for international employers and also migrate. Many of those who are mostly sought after are quite young and willing to move. This might create a brain drain, especially from countries where the salary level is generally low.

Searching for talent globally also creates the global convergence of salary levels. Cheap engineers from country X get a salary increase, but at the same time they put a cap on salaries for similar engineers in country Y. This again stimulates automation and digitalisation in country X, which again often means higher overall productivity. On the other hand, migration, the brain drain and limited access to competencies might be devastating for a home industry and services in the development of their countries.

INTERVIEW

SKILLS

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INTERVIEW HR 2022

Here I am obviously influenced by the fact that I am a Scandinavian, where workers rights go hand in hand with trust and mainly constructive dialogue with unions and workers’ representatives.

Although we struggle from time to time, most of us feel a strong commitment to go from parties to partners. By that, and through transparency, we uphold, gain and strengthen trust.

Data protection laws and the GDPR are integrated parts of balancing the need of individuals with the effective distribution of labour.

Let’s be honest, ethics is not always a beacon of behaviour. There will always be bandits out there. Although most leaders are trustworthy and understand the concept of psychological safety and trust-based leadership, we have to impose barriers on those who aren’t.

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HR companies intensively test AI in their search for the right candidates. What are your concerns and principles regarding the ethical use of AI? At my core, I am a technology optimist. That means that I see technological development as an important part of the solution for everything from demographical shifts to environmental sustainability. That also includes HR. AI will replace a lot of manual work processes and build quality into others.

At the same time, we know that no technology is better than the people that develop the systems and the data you enter into that system. AI might, as an example, accelerate discrimination, let’s call it cumulative, negative stereotyping on steroids. Although AI

With demographic shifts – an increasing elderly population with more need for care – I struggle to see how the idea of “less need for work, we need to share” is valid for the decades to come and its use have been here for decades, it is still immature. But let us embrace it and stay positive, without letting the use develop into a “technological home-alone party”, without mature, ethical and knowledgeable HR and leadership professionals present and active.

When it comes to ethics, my perspective is that not making use of AI could easily be unethical. Not only because AI will make better judgements than humans in many cases, but also from the perspective of the humanisation of working life and value creation. Let humans concentrate on what humans do best. In general, that will create more interesting work and better workplaces for each and every one of us, increased value creation with more to share at the company level - and with that also better communities and societies securing welfare and prosperity. It’s a win-win-win. Remember the Luddites from the first industrial revolution.

Let’s not follow in their footprints.

We have seen many people in the U.S. resigning from their jobs citing dissatisfaction with the way they were treated by employers.

Meanwhile, some employers in Europe are testing a four-day workweek and the EU is pushing for the right to disconnect to protect workers from overly pushy employers. Are we on the cusp of changing the work environment in favour of workers’ wellbeing?

As far as I see it, there are two main reasons to impose a four-day week. One has to do with the work-life balance, health, wellbeing and workers protection; the other is based on the idea that work is a limited resource and has to be shared among employees. From there on, and secondly, there are two alternatives: a four-day week with full wage compensation, or – as in Belgium – a four-day week without reducing the total number of weekly hours and thereby more a matter of flexibility.

The four-day week might be seen as an alternative to the “six-hour day” and other discussions on societal reforms. There have been experiments ongoing for decades, but I don’t see proof that one can balance increased productivity with a better work-life balance.

That leads to the unpleasant question: are you willing to have reduced wages and welfare in order to get shorter working hours? Most people will answer “no” to that question.

With demographic shifts – an increasing elderly population with more need for care – I also struggle to see how the idea of “less need for work, we need to share” is valid in the decades to come.

Sorry… Some of us are privileged and could – if we wanted – reduce the number of hours we work and thereby also live a comfortable life with lower salaries. Countries with high GDP per capita seem to lead the way, while those with lower value creation are stuck with longer days. Another paradox, at the individual level, is, of course, that those of us who have the opportunity to have more free time often feel strongly fulfilled by working – and often a lot. As an example, I seldom work less than 50 hours per week – often more. Not because I have to, but because I enjoy it. With kids having flown the nest and good health, meaningful work with a high level of flexibility is a totally different situation than the alternatives. Those who are really in need of more time are those who struggle to handle expenses that exceed their income. If society wants to do something about this imbalance, the tax system would be an appropriate tool, in combination with the opportunity to work fewer hours, but to do so with a salary that’s proportionately lower.

Diversity & Inclusion As A Vehicle

INTERVIEW

IVANA TODOROVIĆ, HEAD OF HRO AT BANCA INTESA

TOWARDS EXCELLENCE

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eing a proud member of Intesa Sanpaolo, one of the soundest and most profitable banks in Europe, serving approximately 20 million customers in 12 countries, we have experienced and proved that this kind of forward thinking can truly be ignited if people are heard and empowered to express their opinions that would lead to impactful solutions. Furthermore, generally speaking, this type of culture brings an increased level of resilience to organisations, sparks innovation and builds the kind of transformational capacity that is essential in the context of the ever-changing environment we all face today. Why do we find the Diversity & Inclusion approach so important? Our industry has been playing an important role in supporting the economy by enabling the financial inclusion of a growing number of clients and diversifying products and services along the way. In order to keep pace as an organisation, we need to be able to bring people together and respond to different views and perspectives, while always challenging our decisions effectively in the process.

That exact approach has been stimulating the constant evolution of the diversity agenda of Banca Intesa. When we think of our company, which numbers over 3,000 employees working in branches and offices across the country, we take into account their different backgrounds, ages, genders, heritages, individual peculiarities, orientations, strong personalities, but that they are tightly connected by the same values and common goals: to provide our customers with the best solutions. The unique expertise

The unique expertise of our people, derived from their rich individualities, is what makes our brand so solid, with unprecedented success on the local market of our people, derived from their rich individualities, is what makes our brand so solid, with unprecedented success on the local market.

As an illustration, the average age of employees at Banca Intesa is 41, while the work experience of our employees ranges from those with 30 years in business to university graduates. When it comes to gender equality, for example, 75% of our employees are female, with 50% of women holding managerial positions.

Starting from the aforementioned demographics, we have been maintaining and fortifying our D&I based competitiveness broadly throughout our organisation by constantly improving our policies, internal processes, initiatives and the programmes we promote, to agile concepts of working.

Our recently adopted D&I Policy explicitly highlights respect, meritocracy and equal opportunities as its basic values. It defines our commitment to gender equality, aimed at ensuring fair opportunities in the processes of hiring, elevating talents and promoting personnel. Furthermore, the dissemination of the culture of inclusion is translated into training courses, communication and numerous initiatives, such as international talent programmes for our employees, workplace flexibility supported with initiatives like quiet hour, wellbeing programmes and support programmes for parenting.

All of these efforts have yielded astonishingly fair results, as reflected in the employee satisfaction score, which is why we will persist in building relationships based on appreciation for human rights and diversity, cultural and other differences, and constantly improving them. In a nutshell, for Banca Intesa, diversity is about a never-ending quest for excellence.

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It has been commonly acknowledged that the echoes of different voices and opinions in diverse ecosystems that appreciate multiple approaches to problem solving contribute to us constantly advancing ourselves and the environment in which we work and, consequently, pushes our market towards sustainable growth and prosperity

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BUSINESS

TATJANA JOVANOVIĆ, HR DIRECTOR AT HEMOFARM

HR Revolution Or

REIMAGINING REQUIRED In the context of the future of work, HR will need to focus on creating an agile workforce. In the new world of labour, we will have to develop a methodology for planning the skills or abilities that are needed for both today and tomorrow

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n order to more easily comprehend the consideration of how the HR world will look in the future, one should start from the aspect of context. The Fourth Industrial Revolution and the new technologies it has brought favour digital companies.

They are appearing out of nowhere at an accelerated rate, and as a form of competition that didn’t exist until yesterday; they penetrate the market incredibly quickly and bring revolutionary changes. Let’s just take the example of how Airbnb and Booking. com completely transformed the travel and tourism industry. The same goes for iPhone, LinkedIn, Twitter or Kindle. The list is huge and is growing with every new day, with each industry affected.

The Covid-19 pandemic, and the new reality that has appeared with it, has additionally accelerated the need for new technologies and demonstrated the direction in which the world of tomorrow will move. It demanded an overnight shift to models of working from home (very often in segments where we’d thought that would be absolutely impossible), while also requiring the use of digital skills and platforms that most people didn’t even know existed. It also demanded the removal of boundaries between private life and business, and between home and working environments, thus prompting angst over how to fit everything in and reconcile the irreconcilable.

We have seen from this ‘in vivo’ demonstration that the world of tomorrow will be so different and that today’s concepts will not be appropriate in the future. They were designed for some other time and that’s where they should remain. It is clear now that if we

We will probably have to discover new models of work and organisation, including horizontal management, project organisations, flexible workforce (e.g., through the outsourcing of work via platforms like Upwork or Gigwalk) continue to build the HR profession through enhancement and ‘evolution’, it will not remain relevant. The world that’s preparing for tomorrow will need a revolution or reimagining of the HR profession.

In the context of the future of work, HR will need to focus on creating an agile workforce.

In the new world of labour, we will have to develop a methodology for planning the skills or abilities needed for both today and tomorrow.

Moreover, we will probably have to discover new models of work and organisation, including horizontal management, project organisations, flexible workforce (e.g., through the outsourcing of work via platforms like Upwork or Gigwalk). This will require us to simultaneously juggle the combination of a workforce that’s on and off the payroll, and to design a string of interventions focused on their experience (we today call it employees’ experience). This actually requires HR to understand what should be done at the individual level, in order to quickly integrate each individual into the company and have an accelerated learning curve, with the aim of instant productivity.

Here, it will be necessary to understand the style, preferences, capabilities and limitations of each individual, and to design individualised, consumerised and personalised involvement.

By so doing, HR will create a competitive advantage, generate value and use technologies to facilitate the return of the ‘human’ factor to ‘human resources’.

HR can thus remain relevant in the years to come. The experience of other industries and professions teaches us that everyone will inevitably be affected, while the speed and scope of this impact will be dictated to a great extent by our ‘appetite for change’.

That appetite will determine where we end up on the S-curve of transformation: at the front, as someone who wishes to be a change leader; in the middle, going with the flow, or…

The choice is ours.

We Owe Our Success

TO OUR STAFF

BUSINESS

MARIJA KOSANOVIĆ, HR MANAGER, GEBRÜDER WEISS D.O.O

Despite the challenges, Gebrüder Weiss Serbia has completed the past two business years successfully.

They have managed to expand their business and increase the number of employees, giving a big accent on staff development and education

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The pandemic has given special importance to the logistics and transport industry, but it has also put you in front of a lot of temptations and challenges. In that sense, how do you assess the last two years?

In the last two years the whole world has found itself in unusual circumstances and there is not an industry that has not faced smaller or bigger challenges. Finding solutions, adjustment of the processes and in the end the survival of the business mainly depended on previous experiences, work methods, availability, and advancement of existing technologies.

I can certify that it is possible to quickly adjust to different circumstances, to find functional solutions, grow and develop no matter of the challenges in front of us. In our case, the numbers speak for themselves, and despite of the challenges, we have successfully finished both business years, we expanded our business, and on the other hand we increase the number of employees, emphasized the importance of development and education, improved the working environment, took care of our employees and their health, satisfaction, and overall engagement.

Satisfied staff, a positive working environment, good working conditions, the opportunity for growth and development, these are the basics in the fight for talent on the market Staff demand in your industry is constantly growing worldwide, giving candidates the opportunity to choose an employer. How do you reconcile the expectations of both sides? What do you offer and what do you expect?

The labor market is changing constantly. Not only due and during the

pandemic but it has been the last ten years. Generation change is happening, new opportunities and markets are arising as well as new jobs. Transport and logistics in that sense follows the trends and changes, but despite all the technological improvements and digitalization in business processes,

You are constantly introducing new services. Does that mean that your staffing structure is changing, that there is more need for experts who will be focused on finding solutions that can fully meet client’s expectations?

One of the company values is service excellence and for us that means that the client is in the center of all our business processes. We owe our success to our educated and professional colleagues, who have a vision, are innovative and focused on finding solutions. We will continue to go in that way, and in our company their opportunity can find young, innovative, educated, unexperienced but with great ideas people, as well as experienced people, from the same or similar industries. I would like to emphasize that our company is included in the dual education program in which we cooperate with the Traffic and Technical School in Zemun. Every year 5 pupils have practical classes in our company, and after graduation a job opportunity at Gebrüder Weiss awaits them.

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there are still some positions that are in some way still traditional and the man is still the center of events. Having that in mind, we are very people orientated and we strive to respond and fulfill their needs, how we could achieve company goals. Happy employees, positive work environment, good working conditions and the possibility to grow and develop represent the basis for our fight for talents if the market. We recognize that and act with that.

ebrüder Weiss Serbia is included in the dual education program. Every year, five best pupils from the Traffic and Technical School in Zemun, have practical classes in the company and after graduation a job opportunity waits for them.

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INTERVIEW

IVA TERZIĆ, TEAM LEADER FOR LEARNING AND DEVELOPMENT, HR BUSINESS PARTNERSHIP DEPARTMENT, OTP BANKA SRBIJA

The Importance Of Lifelong Learning And Development In

TODAY’S BUSINESS ENVIRONMENT

Learning is a process that continues from the very moment of a person’s birth. It is for this reason that many view this process as a given. Children are naturally curious beings that learn through the process of exploring the world around them.

From the instant of their birth, people are directed towards new things. When our curiosity regarding some new phenomenon is satisfied, we seek to investigate it, and that process leads to us reaching new revelations and making new discoveries. Does that feeling also stay with us later, when we grow up; do we continue to learn, with that same zeal, through the process of exploring the world around us?

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he only constant in life is change - said Heraclitus. Change that can occur anywhere, in our careers, change in our personal life, change in our community and organisations. Lifelong learning is one of the most effective ways of facing changes.

Learning is essential to our existence. Just as food nurtures our bodies, so information and constant learning nurture our minds.

Today’s employees can choose the tools they want to learn something new every day. Thus, for example, they can build a habit of reading, hold discussions with experts they know and ask them questions, join certain organisations, learn while teaching others, i.e., learn for themselves while transferring knowledge to others, conducting their own research, observing the world around us, applying what they’ve learned, utilising MOOC platforms like Udemy and Coursera, listening to TED videos and podcasts etc.

Similarly, company leaders should set an example through their own behaviour by encouraging lifelong learning and enabling employees to access learning opportunities through motivation and acknowledging efforts to learn and adopt new skills.

Companies can also go a step further by allocating time to learn during working hours, such as setting aside an hour to read business books, listen to webinars or practice new skills.

With consideration for all of the aforementioned, in order for lifelong learning to function, companies must have teams, programmes and systems that enable the creation of such an environment, which includes expert content and instruction, coupled with the utilising of internal experience and knowhow. Every employee should receive access to constant flows of information and understanding. Employees can not only learn from one another and collaborate mutually, but rather they also need to be able to do so while performing their everyday roles and responsibilities. This results in learning becoming an essential part of the job, and not a special activity on a special platform. When lifelong learning exists, that helps employees adapt with new skillsets. Companies want their employees to remain engaged in their work and to be skilled in what they do. When a culture of

lifelong learning exists in a company, it results in engagement and productivity.

A question that will also arise is whether supporting an environment of lifelong learning to develop employees will lead them to leaving the organisation. However, the reality is actually the opposite, with employees who lack opportunities to develop themselves or participate in joint activities more likely to seek work elsewhere.

Even when companies establish tools that facilitate lifelong learning, they still require individual members to bring new ideas, considerations and resources that can benefit everyone else. As such, supporting lifelong learning is just as important as a company deciding that it really wants this form of learning.

Lifelong learning is essential for us to prepare for the future in the best possible way.

However, it isn’t possible for lifelong learning to become part of a company’s corporate culture in just one day, rather time is required for everyone in the company to grow accustomed to it. Building a culture of lifelong learning helps organisations to more effectively engage their employees and empower them with skills that benefit both parties. The learning process also gradually becomes a habit that helps employees to research and acquire knowledge about all the things that are changing constantly. Lifelong learning helps an individual to utilise everyday business situations in the best possible way and take control of their career. That’s why I think it’s crucial – when we recognise that feeling of curiosity to learn something – that we research, solve problems and continue, as adults, to learn through the process of exploring the world around us with the same zeal and as naturally as children. Lifelong learning is becoming the lifestyle of each of us.

OTP banka Srbija is the largest creditor both to the corporate and retail sectors, as well as the market leader in factoring, leasing and e-commerce services. OTP banka is focused on innovation and the digitalisation of its operations, which enables customers to gain new benefits with a focus on advancing digital banking and improving the customer experience. One of the key strategic directions is the green transition, i.e., a commitment to sustainable operations and ecological projects.

Thanks to OTP banka’s presence, with 184 branches in 91 towns and cities, clients across Serbia have at their disposal a wide range of products and services, as well as an efficient service and offers that are tailored to their specific needs, while its network of almost 300 ATMs is the largest in our country.

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Continuous learning is our self-motivating persistence in acquiring knowhow and competencies in order to expand our skillset and develop future possibilities. It is part of our personal and professional development in endeavouring to avoid stagnation and realise our full potential, enabling us to practise the skill of constant adjustment.

Continuous learning, better known as lifelong learning, is a concept that encourages the endless expanding of knowledge and skills. The more knowledge of various fields that we acquire, the better we will understand the changes that happen. Lifelong learning is an irreplaceable resource for every career and company.

Lifelong learning and constant development are today essential parts of acquiring the skill of critical thinking and uncovering new ways of relating to people from different cultures. Living life without learning constantly is simply unthinkable. And if we find ourselves in the role of an employee, learning becomes our power to advance.

Lifelong learning also provides the possibility for us to develop new ideas and innovative solutions to modern problems and the conflicts that we face in the workplace. In a society led by technology, continuous learning is no longer optional. Companies and workers who fail to grasp the importance of continuous workplace learning will inevitably struggle to keep their operations afloat.

On the other side, the main reason that every company should support the concept of lifelong learning and constant development is that, without such an agile and adaptable culture, they will stagnate or fail to progress in the business environment. The speed at which things are changing, such as industrial trends and technological progress, means that we must always be one step ahead. Constant technological progress continues to change the very nature of jobs, and it is thus necessary for companies to move extremely quickly towards reliance on their own ability to learn and adjust swiftly.

Lifelong learning in a business environment implies the observing of experiences to date as opportunities for new learning and the re-examining of assumptions, values, methods, policies and practices. Employees are expected to be their own researchers, who will come up with ways to access relevant information, resolve specific situations and handle challenges.

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MARIJA TEŠIĆ, EXECUTIVE DIRECTOR, COTRUGLI BUSINESS SCHOOL

Education Is A

MATTER OF PRESTIGE COTRUGLI is one of the most highly rated business education programmes in Southeast Europe, which, among other things, is recognised around the world and accredited by the Association of MBAs

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and simultaneously consultants of global companies, and they are actually the ones who bring and transfer their rich experiences and real-world situations and challenges from business environments to our alumni, which they also upgrade with their own important theoretical models and knowledge.

This fusion that COTRUGLI nurtures – with modern theoretical foundations on the one hand, and applied experiences and expertise on tangible and relevant examples from the most successful companies on the other – is that which makes the programme itself so prestigious.

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ith unconcealed pride over the successes achieved by the members of its alumni, COTRUGLI Business School Executive Director Marija Tešić highlights that they view education as a matter of prestige, which makes a difference not only in the life and career of the individual, but rather also in entire systems and, ultimately, on the market.

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The demands of the modern market impose the need to learn and advance continuously. Is that what actually brings so many businesspeople to your school and MBA programme?

Today’s labour market is very dynamic and traditional education models are moving ever further away from concepts that ultimately lead to the building of a successful career in business. There are numerous reasons for that: digitalisation and the advancement of technology, the expansive growth of new professions, education that’s in a constant redefining process, the development of creative industries that demand the complex management of people and processes. There are many reasons, but only one conclusion: it is essential to continuously invest in specialist business learning. However, in that process itself, one should choose whom to give one’s time and money wisely, because this market segment is very competitive, with various seminars and ad hoc courses.

Selecting the right business advancement programme should nonetheless be viewed strategically and chosen on the basis of what a particular investment will bring one in the long run, and not only in terms of knowhow and expertise, but rather also in terms of

One chooses whom to give one’s time and money wisely, because this market segment is very competitive, with various seminars and ad hoc courses business networks and new contacts, as well as potential future career advancement opportunities.

Is that which is taught at your school applicable to real-world situations? Is that the greatest value of the MBA programme?

Professors of the COTRUGLI MBA programmes are world-renowned lecturers from the world’s leading business schools,

The title of MBA means that one’s knowhow, abilities and status are recognised worldwide. Does this title also equate to an advantage in terms of securing employment for the candidate who holds it?

We carried out an important survey among the members of our alumni during this year, through which we gleaned excellent data. As many as 74% of participants in the COTRUGLI Business School MBA programme have achieved advancement in their careers after completing their studies, while 64% of them have received raises and achieved long-term financial progress since enrolling in their studies. All this serves to confirm to us that we have a programme that has significant applications in practice, that takes our alumni “a step further”, but even that isn’t all that this programme provides for them.

It’s extremely important to consider that our students are part of the top management teams of the region’s largest companies in various industries, which is great networking that they receive through our programmes.

HR 2022

INTERVIEW

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HR, CURRENT NEWS & INTERESTING DEVELOPMENTS

People Form The Foundation

OF EVERY SUCCESS

HR SECTOR BECOMING EVER-MORE IMPORTANT The value of any company, be it small or large, has long since been expressed not only in terms of annual profits, turnover, number of company cars, salary levels and other financial indicators, because the quality of employees testifies to that value a lot more. It’s for this reason that the high-quality and professional management of human resources is one of the most important jobs, which is why the HR sector is becoming ever-more important

FIVE HR TRENDS IN 2022

reflected in the labour market, but also the HR sector, which has entered a new period in which trends like work flexibility, intangible benefits, wellbeing, digitalisation, the development of a growth mindset among employee and the embracing of diversity and inclusion are becoming an integral part of new corporate cultures.

HR 2022

EVER MORE EMPLOYEES FEEL WORK BURNOUT

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The coronavirus pandemic, which has hit the entire world, has led to many changes to business processes and the way employees work. The majority of companies have faced numerous challenges that have implied changing plans and priorities, adapting to new circumstances and adopting new models of communication, working from home and increasing care for employees and their needs. All this has been

According to the latest research, a work burnout trend is on the rise and affecting employees who work from home in particular, which is why it turns out that they need additional support.

That’s the reason why this whole year will be dedicated to empowering employees through the creation of psychological resilience.

This need has arose because not all employees have optimal working conditions at home, which makes it difficult to establish a balance between private and professional life, or a strict boundary between working hours and free time. Due to a desire and need to protect employees from stress and other unwanted consequences of work burnout, many companies have introduced strict working hours and, for those who work from home, introduced the practise of openly discussing these problems with colleagues and immediate company superiors.

17% of managers gave this answer. Nearly half (47%) of managers say that their companies intend to focus on multiple scenarios, which is a significant increase from the 23% in pre-pandemic period.

DEVELOPED COUNTRIES HIT

BY WAVE OF RESIGNATIONS

Despite the fact that Tim Cook has increased the yields of shareholder dividends by 1,000 per cent over course of the past decade, since taking over the helm at Apple in 2011, those same shareholders are today irrirated by the fact that the CEO’s salary package last year totalled 99 million dollars, according to the BBC. Institutional Shareholder Services called on shareholders to vote against approving his salary package, expressing resentment over the fact that Cook’s package consists of shares, money and coverage of expenses, while they were particularly irked that he spent $630,600 on his personal security and $712,500 for his personal use of a private plane.

COMPANIES SHIFT FOCUS TO PEOPLE

Due to the disruption caused by the Covid-19 pandemic, companies are introducing radical new ways of working and doing business, which places the focus on issues related to the field of human resources. Companies are no longer developing plans for known scenarios, but are rather preparing strategies focused on people that enable companies to better adapt to immediate circumstances.

Deloitte’s survey of global trends in the field of human resources, which included the participation of more than 3,600 managers in 96 countries, showed that human resources are at the centre of attention. Prior to the pandemic, 6% of managers said that their companies would focus in future on preparing plans for uncertain events with major consequences, while now, in the midst of a pandemic,

The last year has seen the term “The Great Resignation”, or “The Big Quit”, appear in Western media and spread fear among many employers.

Though it remains difficult to assess how many workers voluntarily resigned in developed countries during the pandemic, the research that’s available shows alarming figures. Over the course of just one month in 2021, as many as four million employees resigned in the U.S., while a global survey conducted by Microsoft shows that more than 41% of workers are considering resigning or changing their careers.

A similar situation has emerged in the UK and Ireland: more than 38% of workers are considering resigning and changing jobs over the next six months. Most of the resignations are in the retail and hospitality sectors, while those tendering their resignations are increasingly millennials and members of so-called Generation Z (born after 1997).

At a time when Serbia has more than 115,000 unemployed workers aged under 30, it is difficult to talk about voluntary resignations. Young people in Serbia often lack opportunities to even gain employment, and youth unemployment is up 10.34% compared to 2020, but these youngsters nonetheless have significantly higher expectations compared to previous generations when it comes to the earnings that they consider normal and acceptable.

Around 20% of respondents believe that a monthly salary of 50,000 to 80,000 dinars is sufficient for a decent life, while as many as 48% of respondents cite a range of 80,000 to 100,000.

HR SECTOR SALARIES ABOVE AVERAGE According to portal InfoPlate.rs, salaries for employees in Serbia’s HR sector range from a minimum of 40,034 dinars to the “highest average” of 122,060 dinars, though in reality the maximum salary is higher. Depending on the job, position and company in question, salaries vary as in any other sector, but it is certain that the three highest paid positions are department heads, with salaries ranging from 61,913 to 178,583 dinars, HR Business Partner, with salaries between 67,941 and 170,658 dinars, and specialists in charge of the staff selection process, i.e. recruiters, with salaries ranging from 55,056 to 122,786 dinars

ENGINEERS EARN WELL EVERYWHERE Some professions have always been much better paid than others, primarily because they are in higher demand. Even if a certain field has many experts and strong competition, it seems that you won’t do badly in terms of earnings if you choose “wisely”. In the U.S., the top ten spots for salaries are occupied by accountants, aviation engineers, architects, lawyers, business analysts, chemical engineers, civil engineers, electrical engineers, financial analysts and graphic designersv . No relevant research has been conducted in our country that would provide us with comparative data, though it is known that IT experts and engineers don’t have problems either with finding work or with salary level.

HR 2022

APPLE SHAREHOLDERS SABOTAGE COMPANY’S CEO

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HR 2022

INTERVIEW