From the employment perspective, last year was a good one for the Romanian economy, proof being the increase in the number of employees nationwide.
According to Smartree Workforce Index, an analysis conducted by Smartree Romania, last year registered 12 percent more employees in private companies and average bonuses increased by 11 percent, compared to the previous year, as a press release informs.
Also, Smartree Workforce Index revealed that total employee welfare increased by 7 percent, compared to 2016, and the economy improved by a similar percentage of 7 percent over the same time frame.
According to Adrian Stanciu, Smartree CEO, the increase in hiring was a result of openings for offices, logistics centers, factories and new production units of foreign investors in our country, and also the expansion of the operations of the companies already present in Romania.
”Besides the difficulties encountered in the recruitment process, employers still faced the challenge of maintaining good employee retention, therefore many companies had to raise wages or improve the bonus system,” Adrian Stanciu points out.
Developments in the four quarters were relatively uniform, with growth rates slightly above 13 percent in the first and second quarters, respectively 10 percent and 11 percent in the last two quarters, compared with similar periods in 2016.
According to the company’s data, employments have been recorded in all areas of activity, mainly in the fields of telecommunications, financial services, audit and consulting, pharma, auto parts production, BPO services, development software, digital services and IT consultancy. The growth trend of the number of employees was mainly based on the favorable macroeconomic climate and on the economic growth registered during the last year. This increase had reflected also in the unemployment rate, an indicator that has reached the minimum historical value of recent years.
In terms of additional wage benefits, the highest increase, of 24 percent in the second quarter of 2017, was followed by an increase of 10 percent on average, over the next six months.
”In addition to traditional benefits such as meal tickets, medical subscriptions or premiums offered at special events, employers are moving towards an ever-growing range of methods, including shaping a stronger employer brand by exploiting the perks of their own organization,” Smartree CEO adds.
The index is also influenced by the situation of vacation and medical leaves. The number of days off went up by 4 percent, while the number of days of sick leave taken by employees increased by 5 percent.