Macro-economics
and its impact on HR

What impacts are macro-economic forces having on employment law? How will high inflation affect wage negotiations, what affect will energy and other supply shortages have on business operations? Crucially, will this result in restructurings and company closure?

Series

There was a time around the 1990s, when markets were liberalising, global reach was expanding and there was a sense that the world was the oyster of ambitious and innovative businesses around the world. Businesses seemed to operate in a world at one remove from politics and world events. But whatever barriers protected them in the past are now starting to break down.

It’s possible to pinpoint what started to cause this shift: the financial crisis of 2008, the rise of ISIS , climate change, the pandemic and now war in Ukraine. Businesses have a natural resilience, but that may only take them so far. Many are feeling battered and bruised under the strain.

 

WEBINAR: War in Ukraine: the economic effects of inflation and supply chain issues worldwide

Macro-economic responses

We take a look at the way different countries within the EU and beyond are experiencing the instabilities we are living through.

EU countries

Austria
10.04.2022
2
Macro-economics and how it impacts on HR – Austria
Inflation and gas shortages are high on the agenda in Austria, as are wage negotiations.
Denmark
10.04.2022
2
Macro-economics and how it impacts on HR – Denmark
Instability is the watchword for Denmark, but employment remains buoyant for now, with main companies interested in employment Ukrainian refugees if they can.
Germany
10.04.2022
1
Macro-economics and how it impacts on HR – Germany
Germany feels like it’s at the sharp end, with its dependency on Russian gas supplies and political pressures from all angles.
Hungary
10.04.2022
2
Macro-economics and how it impacts on HR – Hungary
Soaring inflation and slowing economic growth in a country that has recently had parliamentary elections.
Netherlands
10.04.2022
2
Macro-economics and how it impacts on HR – Netherlands
Many businesses want to employ refugees arriving from Ukraine and the law has been relaxed to enable this. Meanwhile, Dutch companies are rapidly withdrawing from Russia.
Poland
10.04.2022
2
Macro-economics and how it impacts on HR – Poland
Poland is experiencing a massive influx of refugees and is doing its very best to assimilate them, including by offering them work.

Countries beyond the EU

Argentina
10.04.2022
1
Macro-economics and how it impacts on HR – Argentina
Import and export will suffer in some ways in Argentina and gain in some others, as a result of the war in Ukraine.
Kazakhstan
19.04.2022
1
Macro-economics and how it impacts on HR – Kazakhstan
With an economy closely linked to Russia and a currency connected to the ruble, Kazakhstan has already taken a big hit since the war began.
Turkey
10.04.2022
1
Macro-economics and how it impacts on HR – Turkey
Businesses are under pressure in Turkey and there’s a bit shift to remote work and avoiding giving overtime, as they try to save costs.
United Kingdom
10.04.2022
1
Macro-economics and how it impacts on HR – UK
There’s a cost-of-living crisis in the UK and vocal public debate about workers’ conditions.
PDF GUIDE

Comparing state Covid responses in 20 countries

Our report, comparing the outcome of Government responses to Covid-19, covering 20 major economies, is an economic analysis of what has worked best and worst over the last two years. Compiled and written in collaboration with human resources provider, Adecco, it offers an in-depth analysis of our collective insights into these issues.

Note: if you provide your email address, we will send you updates periodically.

Podcast: Macro-economics

How can businesses build back after Covid in a way that enables them to deal with the large-scale challenges ahead? Burkard Göpfert from our German law firm gives us some insights. We ask him what environment sustainability means for the practice of HR and find out about rules in some countries that require businesses to check the ethics of their supply chains.

team

Contact us

Burkard Göpfert is a partner at Kliemt.HR Lawyers and Chair of the Ius Laboris Expert Group for Restructuring. Sam Everatt is CEO of Ius Laboris.
Burkard Göpfert
Germany
Sam Everatt
Executive Director