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COUNTRY SEARCH:
Czechia
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Czechia
Czechia, with a GDP of $330.9 billion, ranks 46th globally. Its main industries are motor vehicles, metallurgy, and machinery. With a working population near the world average, Czechia's low 2.6% unemployment rate signifies a robust labor market. The country has a medium number of recruitment agencies, indicating moderate specialization.
Czechia'S
AGENCY LANDSCAPE
600
Agencies operating in Czechia
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
14-20%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Czechia'S
FEATURED AGENCIES
CPL (CZ)
Randstad
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Czechia'S
GROSS DOMESTIC PRODUCT (GDP) RATING
46
WORLD RANKED
Czechia ranks 46th in the world by current economic output
$331B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
25
EMEA RANKED
Czechia is the 25th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Czechia's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Czechia'S
CURRENCY AND CODE
Kč
Country currency
CZE
Country ISO code
Czechia'S
INFLATION RATE
2.1%
CURRENT RATE
▼8.6% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Czechia'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Czechia'S
LABOUR STATISTICS
11M
POPULATION
With a population of 10,524,167, Czechia is a medium sized country by global standards. Czechia's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Czechia is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Czechia's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Czechia'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Czechia'S
UNEMPLOYMENT RATE
2.6%
CURRENT PERCENTAGE
▲0.37% INCREASE
Czechia's unemployment rate is low, suggesting either a booming economy or reliance on foreign labour. Between 2022 and 2023, there was a small increase in unemployment, suggesting continued economic stability, with a slight dip in job availability
Czechia'S
TOP PERFORMING INDUSTRIES
Top industries
Motor vehicles
Metallurgy
Machinery and equipment
Czechia'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
69
/
52
Male | Female
In Czechia there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Czechia'S
WORKING LIFE
$21K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$1.8K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Czechia'S
WORKING LIFE
13DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard work hours are 8 per day and 40 per week, typically Monday to Friday. Employees are eligible for overtime pay beyond these hours.
Czechia'S
TOP BENEFITS
28WEEKS
Maternity leave
Czech Republic: Maternity leave offers 28-36 weeks with 70% pay, starting 6 weeks pre-delivery. Paternity leave grants 14 days with 70% pay within 6 weeks of birth.
74DAYS
Sick leave
Employees get up to 74 days paid sick leave: the employer covers the first 14 days at 60% salary, then Social Security pays 66% for days 15-44 and 72% for days 45-74.
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