Invest in Georgia — Doing Business – 10 Reasons to Invest in Georgia – World’s Leader in Labor Freedom and Literacy

World’s Leader in Labor Freedom and Literacy

Georgia simultaneously offers the world’s best Labor Code, the world’s most literate workforce, and very competitive prevailing wage rates.

 

Georgia leads the world on the Adult Literacy Rate indicator of the 2006 Human Development Index produced by UNDP . The country’s  new Labor Code has been hailed as one of the world’s best. The Heritage Foundation ranks Georgia first in the world in the Labor Freedom category of the Index of Economic Freedom, and the World Bank ranks Georgia sixth in the world on the Employing Workers indicator of its Doing Business Survey.

 

Key features of the new Labor Code, which took effect in May 2006, include:

 

  • Only 1 month of severance pay is required when an employer terminates a labor contract.
  • No severance pay is required if the employee is terminated during a probation period (up to 6 months) or for cause.
  • An employee must give 30 calendar days notice to an employer upon termination of a labor contract.
  • Salary is subject to agreement between the parties.
  • Employees may be held liable for financial harm caused to an employer.
  • Employees are entitled to 24 working days of paid annual vacation only after 11 months of employment with their current employer.

 

Georgia Leads the World in Labor Freedom

Source: Economic Freedom Index 2007, Heritage Foundation

 

If the statutory holidays stipulated by the Georgian Labor Code occur on weekends, they are not transferred to the next working day.

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