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Slovakia
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Slovakia
Slovakia, with a GDP of $132.8 billion, ranks 61st globally. Its top industries are automobiles, chemicals, and machinery. The nation has a stable working population with a 5.8% unemployment rate, indicating a balanced labor market. Slovakia hosts a medium agency number, reflecting a growing talent sourcing industry.
Slovakia'S
AGENCY LANDSCAPE
500
Agencies operating in Slovakia
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
14-18%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Slovakia'S
FEATURED AGENCIES
Barclay Simpson
Brabers
Brilliantin Recruitment
Cooper Lomaz
CPL UK
Fractal
Galaxy Technology Services
IKONS Global
Intecselect
MRA Search
Opus Resourcing Ltd
Tara Recruiting LLC
Torche Global
Utilise Recruitment
Ventula Consulting
WinMatch
Canopus-GBS
Connect Group
IFIT Solutions
K&K Social resources and development GmbH
Simba Talent
SystemBender Private Limited
Talent Avenue
The Glove
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Slovakia'S
GROSS DOMESTIC PRODUCT (GDP) RATING
61
WORLD RANKED
Slovakia ranks 61st in the world by current economic output
$133B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
37
EMEA RANKED
Slovakia is the 37th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Slovakia'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.
Slovakia'S
CURRENCY AND CODE
€
Country currency
SVK
Country ISO code
Slovakia'S
INFLATION RATE
3.9%
CURRENT RATE
▲0.3% INCREASE
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.
Slovakia'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.
Slovakia'S
LABOUR STATISTICS
5.4M
POPULATION
With a population of 5,434,712, Slovakia is a small sized country by global standards. Slovakia's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Slovakia is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Slovakia's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Slovakia'S
RELIGION AND ETHNICITY
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.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Slovakia'S
UNEMPLOYMENT RATE
5.8%
CURRENT PERCENTAGE
▼0.3% REDUCTION
Slovakia has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
Slovakia'S
TOP PERFORMING INDUSTRIES
Top industries
Automobiles
Metal and metal products
Machinery
Slovakia'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
67
/
56
Male | Female
In Slovakia there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Slovakia'S
WORKING LIFE
$18K
Average gross annual wage (US$)
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.
$1.5K
Average gross monthly wage (US$)
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.
Slovakia'S
WORKING LIFE
15DAYS
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/day and 40/week, Monday-Friday. Overtime isn't required to be paid, can be part of salary or compensated with leave. Hours beyond standard are overtime.
Slovakia'S
TOP BENEFITS
34WEEKS
Maternity leave
Maternity Leave: 34 weeks at 75% pay; max 55.87/day. No extension. Paternity Leave: 2 weeks at 75% pay; optional extra 26 weeks. Parental Leave: 3 years, 275.90/month. No extension.
52WEEKS
Sick leave
Employees can take up to 52 weeks of paid sick leave. For 1-3 days, they receive 25% of their salary from the employer. From 4 days, pay increases to 55% from the employer up to 10 days, then from social security after 11 days.
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