LABOR COSTS ANALYSIS IN THE TRADE MARKET OF SERBIA

Dragana Vojteski, Kljenak Lukic Radojko () and Dragica Jovancevic
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Dragana Vojteski: Faculty of Business Economics and Entrepreneurship, University of Belgrade, Serbia
Kljenak Lukic Radojko: Faculty of Economics, University of Belgrade, Serbia
Dragica Jovancevic: Faculty of Business Economics and Entrepreneurship, University of Belgrade, Serbia

Management Research and Practice, 2015, vol. 7, issue 3, 59-79

Abstract: Considering the nature of business, labor costs belong to the group of critical factors of trade company business success or, on the other hand, they significantly influence their business and financial performances. In order to optimize the effects of labor costs, more attention needs to be dedicated to the improvement of human resources management effectiveness, especially in the retail chains of countries with a developed trade economy, by applying training programs for employees and modern technology. An increased appliance of modern technology significantly influences the improvement of the efficiency of human resources management in trade companies, as the managing instrument of their performances. The comparative research used in this paper determines that, due to the influence of various factors, the participation of labor costs in the total revenues from trade company sales, or retail chains, is different in different countries. For example, labor costs are lower in Serbia related to the EU member countries and Croatia, as a comparable country within the region. Similar differences exist in the area of the total labor costs observed in certain countries. Knowing of these reasons is an important assumption for an efficient management of labor costs in trade companies, especially in the case of Serbia as the subject of a special analysis in this paper.

Keywords: labor costs per hour; unit labor costs; work productivity adjusted for earnings; human resources management. (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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