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Application of the Altman Z-Score Model in Assessing Financial Stability: Evidence from a Case Study
(Institute of Knowledge & Management, 2026)
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Trpeski, Predrag
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Ristovska, Andrijana
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Brain Drain in North Macedonia: Key Factors and Effective Measures for Human Capital Retention among Employees
(2024-12)
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Ristovska, Andrijana
This paper aims to examine the push factors influencing the intention of employees in North Macedonia to emigrate and identify potential measures to reduce the "brain drain" or “human capital flight” phenomenon. The subject of the study focuses on the attitudes of employees regarding their intention to leave the country, considering variables such as salary growth, promotion opportunities, trust in state institutions, the availability of alternative employment within the country, and employment practices in the country. The research employs a survey methodology, involving 120 respondents from various demographic backgrounds to capture diverse perspectives on the push factors driving emigration. A methodical statistical procedure was applied using simple linear regression to determine the impact of each economic factor on employees' intentions to leave. Additionally, multiple linear regression was utilized to see how various push factors together influence the employees' intention to leave the country. The results reveal that 62% of respondents are inclined to leave the country, particularly younger employees aged 31-40 with higher education levels. The primary factor influencing this intention is the lack of alternative employment opportunities in North Macedonia. These findings underscore the need for targeted policies and measures to retain human capital and prevent further economic and demographic decline.
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ORGANIZATIONAL CHANGE AND EMPLOYEE STRESS: EMPIRICAL ANALYSIS OF EMPLOYEES IN THE REPUBLIC OF NORTH MACEDONIA
(Ss Cyril and Methodius University, Faculty of Economics-Skopje, 2021-11-13)
Ristovska, Andrijana
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<jats:p>This paper addresses the issue of the importance and necessity of introducing constant organizational changes and their impact on employee stress as one of the primary pull factors of the employee turnover intention. In this regard, human resource managers in organizations are becoming increasingly aware that hiring and retaining talents are the most important determinants of success in the complex global world and that they must work more intensively on modernizing the process of change management to help employees, not only for acceptance, but also for their involvement in the change implementation process. The number of respondents from the processed data so far is 439 employees (differing according to their demographic characteristics). The purpose of this paper is to determine whether there is a statistically significant difference between the four different types of organizational change according to the Cummings and Worley (2014) organizational change classification (Human process changes; Techno-structural changes; Human resource management changes and Strategic changes), regarding their impact on the employee emotional state, as well as which type of organizational change has the most significant impact on employee stress in the Republic of North Macedonia. The survey findings contributed to the conclusion that Macedonian employees in terms of their feelings of fear, anxiety, nervousness, etc., equally perceive the impact of the different types of organizational change. More specifically, there are no statistically significant differences between the impacts of the different types of organizational change over the stress they face because of these changes.</jats:p>
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Оrganizational Change as “Push Factor” of Employees’ Turnover Intention: Statistical Analysis of the Employees in the Republic of North Macedonia
(Ss. Cyril and Methodius University in Skopje, Faculty of Economics-Skopje, 2021-11-30)
Ristovska, Andrijana
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<jats:p>The process of globalization and intensive technological development imposes the need to constantly introduce different types of organizational changes. Human resource managers in organizations are becoming increasingly aware that hiring and retaining talents are the most important determinants of success in the complex global world and that they must work more intensively on modernizing the process of change management to help employees, not only for acceptance, but also for their involvement in the change implementation process. This paper analyzes the impact of four different types of organizational change on employee turnover intention, according to the Cummings and Worley (2014) organizational change classification. The statistical method of simple linear regression was applied to predict and evaluate the turnover intention of the employees in the Republic of North Macedonia (as a dependent variable “Y”) based on the value of each of the types of organizational changes (as independent variables “X”). A multiple regression method was also applied in order to analyze the associations between the independent variables and the dependent variable and identify the type of organizational changes that most significantly affects the employee turnover intention. The analysis was conducted based on the findings obtained from the respondents who completely answered the survey questionnaire (282 employees in the Republic of North Macedonia, different according to their demographic characteristics). The correlation analysis shows there are positive correlation as well as causal relationship between all four types of organizational changes and the employee turnover intention, where techno-structural interventions have the most significant impact.</jats:p>

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