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Greece
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Greece
Greece, with a GDP of $238 billion, is the 54th largest economy globally. The country's main industries are tourism, food and tobacco processing, and textiles. With a medium-sized working population, the unemployment rate of 11% indicates challenges in the labor market. Greece has a moderate number of recruitment agencies, suggesting industry growth potential.
Greece'S
AGENCY LANDSCAPE
500
Agencies operating in Greece
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
15-18%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Greece'S
FEATURED AGENCIES
Manpower Group
Hays
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Greece'S
GROSS DOMESTIC PRODUCT (GDP) RATING
54
WORLD RANKED
Greece ranks 54th in the world by current economic output
$238B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
30
EMEA RANKED
Greece is the 30th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Greece'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.
Greece'S
CURRENCY AND CODE
€
Country currency
GRC
Country ISO code
Greece'S
INFLATION RATE
2.7%
CURRENT RATE
▼1.5% 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.
Greece'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.
Greece'S
LABOUR STATISTICS
10M
POPULATION
With a population of 10,432,481, Greece is a medium sized country by global standards. Greece's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Greece is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Greece's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Greece'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.
Greece'S
UNEMPLOYMENT RATE
11.0%
CURRENT PERCENTAGE
▼1.43% REDUCTION
Greece has a severly unhealthy unemployment rate, signalling there is significant economic problems. Between 2022 and 2023, there was a large decrease, suggesting a positive shift toward better economic stability with significant improvement in job availability
Greece'S
TOP PERFORMING INDUSTRIES
Top industries
Tourism
Food and tobacco processing
Petroleum
Greece'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
59
/
45
Male | Female
In Greece there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Greece'S
WORKING LIFE
$17K
Average gross annual wage (US$)
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.
$1.4K
Average gross monthly wage (US$)
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.
Greece'S
WORKING LIFE
12DAYS
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
In Greece, standard work is 40 hours per week, with optional agreement on 6,4 hours per day, Monday to Saturday. Overtime is mandatory paid as "iperergasia" (up to 20% extra) or "iperoria" (up to 60% extra with authority notification and limits). Maximum 48-hour week over 4 months.
Greece'S
TOP BENEFITS
17WEEKS
Maternity leave
Maternity: 17 weeks paid at 50%, surrogacy covered, min salary. Paternity: 14 days at 100% pay. Parental: Up to 30 months' leave until child turns 8.
13DAYS
Sick leave
Employees get paid sick leave: 13 days in the first year, 25 days after. Day 0-3 paid at 50% by the employer. Day 4-13, differently for newcomers versus those employed over a year, is split between Social Security and the employer. After calculations, Social Security determines the exact payment.
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