Intellectual Capital
With a unique combination of high-quality and low-cost skill-set, Serbian workforce is widely regarded as a strong business performance driver.
Serbia has fostered extensive relationships with western economies for decades. A list of blue-chip companies maintaining strong ties with local partners is topped by Siemens, Alcatel, Fiat, IKEA, and many others. Throughout years of cooperation Serbian workers have received specific know-how and adopted advanced technology applications and rigorous quality control standards. Having vast experience both in manufacturing and management, local staff requires minimum training to adopt cutting-edge technologies and assembly processes.
Labor Supply
Essentially, highly qualified staff in Serbia is widely available. The number of engineers, managers, and other specialists is sufficient to meet the growing demand of international companies. Yearly, the labor supply increases by app. 35,000 university and 2-year college graduates and 75,000 high school graduates. In addition, there is also a significant number of Serbian experts, returning to the country after gaining top-quality expertise in international companies around the globe.
The labor market in Serbia has become truly vibrant as a rising number of international investors have opened their businesses in the country. International as well as local head-hunting agencies operate in major Serbian cities, offering a full range of consulting services, including executive search, staff training, and salary surveys.
Education System
Since 2003, universities and colleges in Serbia have produced about 35,000 graduates, 1,000 Masters of Science, and 400 PhDs annually. Of the total number of graduates, technical universities account for approximately 30%. Leading institutions in this field, e.g., School of Electrical Engineering or School of Mechanical Engineering in Belgrade, are recognized internationally for their expertise. High-quality technical education is largely based on elementary and high schools, offering an advanced curriculum in technical sciences.
Management education in Serbia is provided through joint graduate and post-graduate courses organized by local universities and renowned western business schools such as the French HEC, British Sheffield University and Heriot-Watt University.
In addition, international elementary and high schools are widely available in Serbia. They offer curricula in English, German, and French, including internationally recognized examinations.