Partnership

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Lithuania is an attractive and still not overloaded location for near-shoring services and outsourcing business development. We would like to offer to co – operate legal, accounting offices from all over the World, who would like to transfer certain responsibilities and functions through still low- price countries.

Over the last couple of years, Lithuania has seen a growing presence of shared service and BPO activities. Today, Lithuania is the leading country among the Baltic States in the number of shared service and BPO projects attracted over the last ten years. With an impressive roster of multinational companies providing services for the European market in the English, German, Russian, Polish and Scandinavian languages, Lithuania is an attractive location for near-shoring services and business process outsourcing. Multinationals such as Barclays Bank (UK), Western Union (US) and Computer Sciences Corporation (US), Mirror Accounting (Norway), Danske bank (Denmark), and etc. have chosen Lithuania, because of its:

Educated and Competitive Talent Pool


Lithuania’s recent history of forwardthinking governance places particular emphasis on intelligent investment in our people. Comparative research has highlighted that Lithuania has one of the best-educated talent pools in the European Union. Lithuanian society, with its creative and responsible citizens, is ready to embrace global challenges.

Here are the key competencies of the Lithuanian labour pool as described by foreign investors:
  • High number of graduates
  • Western culture
  • Consistently high quality of spoken English
  • Availability of other languages
  • Quick learners and very loyal employees
  • Among most multilingual in the EU
Lithuanians are good at languages, and it is no wonder that Lithuania finds itself among the top five EU countries boasting the greatest number of people proficient in at least one foreign language. As many as 92% of Lithuanians can converse in foreign languages (usually English, Russian and German), and this is far beyond the EU average of 54%. About half of the Lithuanian population speaks two foreign languages.

Among most educated nations in the EU

Lithuanians are among the most educated people in the European Union. 92% of population has secondary or higher education (compared with an average of 74% in the EU). Around 49% of Lithuanians hold a higher education qualification (age group 25-34 years), which is the 4th largest percentage in the EU.

At the beginning of the academic year 2012-2013, there were over 113,000 students enrolled in Lithuania’s 23 universities, and more than 45,000 students in 24 colleges. In 2012, almost 42,000 Lithuanians graduated from colleges and universities, of which more than 29,000 obtained their degrees in universities and 13,000 in colleges. Lithuania has one of the EU's most educated populations and continues to serve as a pool of well educated professionals for local and international businesses.

As a matter of fact, Lithuanians enjoy the privilege of being familiar with both the Eastern, as well as Western European mentalities.

Cost-effectiveness and flexibility

It is crucial to mention that the large pool of well-qualified talent is known for highly competitive prices and flexibility

EU-wide:

Labor costs are 4 times lower than the EU average. The minimum monthly wage in Lithuania is currently 290 EUR, and the minimum hourly wage is 1.76 EUR.
One of the most flexible employment markets in Central and Eastern Europe: 3rd lowest in hiring difficulty and 2nd most flexible wage rate regime.
The two largest Lithuanian cities - Vilnius and Kaunas - are among the top 10 most cost-effective cities in Europe. In addition, population of Vilnius (~540k) provides the 2nd largest labor pool in the Baltics; Kaunas (~310k) is the 4th largest city in the Baltics.

Source:

Eurostat, Statistics Lithuania,Doing Business 2013, www.fDiIntelligence.com