Investors: Make labour code more flexible to boost employment

German investors want the Slovak Labour Code to be more flexible, Slovak-German Chamber of Commerce and Industry (SNOPK) spokesman Markus Halt has told TASR. To this end, SNOPK plans to submit six proposals to the Government that it would like to see incorporated into the upcoming Labour Code amendment.

German investors want the Slovak Labour Code to be more flexible, Slovak-German Chamber of Commerce and Industry (SNOPK) spokesman Markus Halt has told TASR. To this end, SNOPK plans to submit six proposals to the Government that it would like to see incorporated into the upcoming Labour Code amendment.

According to the German investors, more flexibility in the Labour Code will prompt companies to hire more people. The chamber’s main focus is the introduction of individual time accounts that would register all employees' planned working time, including overtime. Employers would then have to pay salaries based only on real worktime, leading to lower labour costs, more job security and greater financial room for investment, TASR wrote.

In addition, the extension of collective agreements in the electronics and engineering industry doesn't sit well with foreign investors, who view the related act as restrictive.

"The collective agreements negotiated by large companies are forced in this way on small and medium-sized companies, for which this is nothing but an additional burden. SNOPK emphatically wants to see the law in question repealed," said Halt.

Slovak-German Chamber of Commerce and Industry represents 300 companies that employ 72,000 people in Slovakia.

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