Global Headhunting & Recruitment Solutions in Bulgaria
Why create a global recruitment strategy?
Creating a global recruitment strategy is essential for businesses that operate in multiple countries or regions. Such a strategy can help a business find the best talent from around the world, while also ensuring that they are following applicable laws and regulations.
- 1. Helps to standardize the recruitment process across different locations and ensure that all candidates are subject to the same criteria and standards. This helps to ensure a level playing field, reduce bias, and ensure that the best talent is identified. It also helps to ensure that a business is compliant with applicable laws, such as anti-discrimination laws, and can demonstrate due diligence in their hiring practices.
- 2. It enables businesses to attract talent from different cultures and backgrounds, which can help to create a diverse and inclusive workplace. This can lead to a range of benefits, such as improved engagement, higher productivity, and better customer service.
- 3. It can help ensure that a business is able to identify the right skills and qualifications for the roles they are seeking to fill. By having a standardized recruitment process, businesses can ensure that they are selecting the right candidates for the right roles.
Why hire talents in Bulgaria?
There are several reasons why companies might choose to hire talents in Bulgaria:
- Skilled and educated workforce: Bulgaria has a well-educated workforce, with a high percentage of the population holding a university degree or equivalent qualification. Additionally, there are many technical universities and colleges that produce graduates in the fields of engineering, IT, and other technical fields.
- Lower labor costs: Compared to other EU countries, Bulgaria has lower labor costs, making it an attractive destination for companies looking to lower their costs and improve their profit margins.
- Business-friendly environment: Bulgaria has made significant efforts to improve its business environment in recent years, with a focus on reducing bureaucracy and increasing transparency. This has made it easier for foreign companies to establish themselves in the country and operate successfully.
- Strategic location: Bulgaria is strategically located in Southeast Europe, making it an ideal hub for companies looking to do business in the Balkans, Eastern Europe, and the Middle East. The country has well-developed transportation infrastructure, including ports, airports, and highways, which facilitate the movement of goods and people.
- Multilingual workforce: Bulgarian workers are generally fluent in multiple languages, including English, which makes them well-suited for roles that require communication with international customers or partners.
How much does it cost to hire talent in Bulgaria?
The cost of hiring talent in Bulgaria can vary depending on several factors such as the level of experience and skills of the talent, the industry and type of job, and the location of the company.
According to data from Payscale, the average salary in Bulgaria ranges from around 22,000 BGN to 70,000 BGN per year, depending on the job title and level of experience. However, highly skilled professionals in industries such as IT, finance, and engineering can command salaries well above this range.
Employee labor laws in Bulgaria
Working Hours in Bulgaria
In Bulgaria, the standard working week is 40 hours, typically spread over five days. The legal working hours per day are eight hours, with a maximum of 48 hours per week. Overtime work is allowed but is subject to limitations and must be compensated with additional pay or time off.
Employees in Bulgaria are entitled to at least 20 days of paid annual leave per year, which can increase depending on their length of service with the employer. In addition, there are 13 public holidays in Bulgaria. Certain industries such as healthcare, transport, and emergency services may have different working hour regulations, and collective bargaining agreements may also impact working hours and overtime compensation.
Minimum wage
As of January 2023, the minimum wage in Bulgaria is 770 BGN (approximately 386 EUR) per month. This applies to all employees, regardless of their occupation or industry. However, there are certain exceptions for specific groups of employees, such as apprentices or trainees, who may be paid a lower wage during their training period.
General taxation
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Type of Tax
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Rate
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Description
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Personal Income Tax
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10%
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Applies to all individuals earning income in Bulgaria.
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Corporate Income Tax
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10%
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Applies to all legal entities earning income in Bulgaria.
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Social Security Contributions
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19.8% (employee), 17.8% (employer)
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Paid by both the employer and the employee, with the total rate being 37.6%. These contributions provide social security coverage for healthcare, pensions, and other benefits.
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Hire the best talent in Bulgaria with EER Global
EER Global offers a thorough, personalized, and expert approach to sourcing top talent for your organization. By carefully evaluating and pinpointing the ideal candidate for your specific role, they can spare you the time and resources that would otherwise be wasted on hiring the wrong person.
Leveraging their industry expertise and extensive network, they are adept at identifying the most outstanding candidates in the job market, enabling you to promptly and effectively fill your positions. Moreover, they can provide valuable insights and guidance on the recruitment process, empowering you to make informed decisions that align with your business objectives. If you are seeking to recruit in Bulgaria, do not hesitate to reach out to EER Global’s dedicated team of professionals for further details.
