Wages should be at least 30% above minimum wage

Habib said the model is being discussed in around 30 countries where ISS operates, adding that a living wage should be at least 25-30% above the minimum wage.

Highlighting labor supply challenges in Türkiye, Habib said some companies have begun bringing in workers from countries such as India, Bangladesh and Vietnam. He also noted that high financing costs are putting pressure on corporate cash flows. While mergers are accelerating in Europe, Habib said companies in Türkiye are waiting for interest rates to decline before a similar consolidation process can gain momentum.