Here are the key competencies of the Lithuanian labour pool as described by foreign investors:
High number of graduates
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 six 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 Polish), 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
Lithuanian society, with its creative and responsible citizens, is ready to embrace global challenges.
Lithuanians are among the most educated people in the European Union. 93% of population has secondary or higher education (compared with an average of 73% in the EU). Around 34% of Lithuanians hold a higher education qualification, which is above the EU average.
At the beginning of the academic year 2011-2012, there were over 122,000 students enrolled in Lithuania’s 23 universities, and more than 49,000 students in 24 colleges. In 2011, more than 43,000 Lithuanians graduated from colleges and universities, of which more than 30,000 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 more 4 four times lower than the EU average. The minimum monthly wage in Lithuania is currently 289 EUR, and the minimum hourly wage is 1.76 EUR.
- One of the most flexible employment markets in Central and Eastern Europe: 4th 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 (~550k) provides the 2nd largest labor pool in the Baltics;Kaunas (~350k) is the 4th largest city in the Baltics.
Eurostat, Lithuanian Department of Statistics,Doing Business 2013 www.stat.gov.lt