iGlobal Law

Core Facts

• Population:  5.3M
• GDP:  USD 387 billion
• GDP per head:  USD 89,590
• Workforce:  2.6M
• Unemployment (2017):  4.3%
• Average monthly wages (2017):  USD 5,168

Regulatory

• Government debt:  31.7% of GDP
• Personal income tax:  38.5%
• Corporation tax:  24%
• World corruption ranking 2016:  6th Transparency International
• Ease of doing business ranking:  6th Business Freedom Index
• Labour law:  ILO Conventions ratified
• Data protection:  Member of the EEA and so recognised as having adequate protection

Norway applies its own version of the Nordic labour model which emphasises a high level of co-operation between employer and employee both at national and company level.  In this model labour culture and regulation derive from a mixture of law and collective agreement.

Global companies, particularly those from jurisdictions with relatively low levels of regulation, must become familiar with Basic Agreements, a hierarchy of collective agreements, collective wage bargaining, works councils, employee board representation and corporate assemblies all depending on the business sector and the number of employees.

In return they can benefit from a strong commitment to co-operation between employer and employee which recognises that productivity is best served by achieving a balance between the interests of each group.