The German Economy Award, presented annually by the German-Slovenian Chamber of Commerce and Industry in cooperation with the German Embassy and the IEDC Bled School of Management, will this year honour companies that set new standards in development of modern jobs.

The award has been presented since 2014 to recognise best business results. After last year's focus on green transformation, this time the judging panel will focus on good employers.

The idea is to recognise companies that contribute to the development of modern jobs and set new standards in the field, the chamber told the Slovenian Press Agency.

The candidates will be assessed in terms of employee well-being initiatives, diversity, equality and inclusion in the workplace, corporate social responsibility and employee experience.

"Integrating best HR practices into the workplace is a central pillar of the strategic direction of modern companies. Employer excellence is defined by the ability to address organisational needs while developing an environment that prioritises employee wellbeing, growth and satisfaction," the chamber said.

The efforts include implementing innovative practices that promote equity, diversity, inclusion, continuous learning, professional development and work-life balance.

"The outstanding employer award, initiated by the German-Slovenian Chamber of Commerce and Industry, thus underlines the key role of employer excellence in promoting positive change in business and society," it pointed out.

By integrating the mentioned principles into their strategies, companies can have a positive impact on employees and society, strengthen their reputation as a good employer and create long-term opportunities for sustainable organisational growth, the chamber added.

The award will be presented at a ceremony at Ljubljana Castle on 12 February. Last year it went to Hidria, a car industry supplier, with rotational moulding group Roto and MAN Truck & Bus Slovenija making the list of finalists.