Managers' Breakfast: Forecasts for the Lubusz labor market and the importance of non-wage benefits

We organized a meeting for managers to discuss labor market forecasts and the importance of non-wage benefits.

On March 1, 2018, we held another meeting in our Managers' Breakfast series, this time at the Interior Technology Park in Nowa Sól. The theme was: "The Lubusz labor market – forecasts for entrepreneurs. Optimistic?".

Market analysis indicated historically low unemployment and growing wage pressure.

Violetta Panasiuk-Strzyżewska, President of the Management Board of AUDIT HR, presented a detailed analysis of the labor market and economic prospects:

Economy: GDP growth in 2017 reached 4.6%, driven by increased domestic consumption (private consumption increased by 4.8% – the highest in 10 years), increased exports, and increased investment. The GDP forecast for 2018 projected a level above 4%.

Unemployment: The unemployment rate reached historic lows: in March 2018, it reached 6.6% in Poland, 6.9% in the Lubusz Voivodeship, and just 3.6% in Zielona Góra. This meant that the labor market had reached a pattern in which demand exceeded supply.

Fulltime and reasons for layoffs: The average turnover rate increased between 2013 and 2017, reaching 21.13% in 2017. The main reasons for employee departures were receiving a higher salary offer (89.3% of employers indicated in 2017) and moving abroad for work (73.2% indicated).

Robert Korzeniowski was the special guest, who discussed the importance of benefits.

During the meeting, we discussed non-wage benefits for employees.

Our special guest was Robert Korzeniowski, a four-time Olympic champion. Mr. Korzeniowski, head of the Medicine for Sports and Active People project at the LUX MED Group, discussed the importance of healthcare and MultiSport cards in the incentive system, combining the perspective of competitive sports with the focus on employee productivity and health in the business environment.

The meeting provided managers with the tools necessary to compete for employees.

The event provided participants with comprehensive knowledge about the scale of wage pressures in the region and strategies for employee retention. Participants had the opportunity to deepen their understanding of base salary changes between 2006 and 2017, using selected positions, including Financial Director and Production Worker, as examples. This knowledge was essential for effectively competing for employees in a market with historically low unemployment.