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Human Capital Trends

Global HR Trends for 2016 with a Romanian twist


Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Contents
The new organization Change, Disruption and staying on the winning side 04

The 10 Global human capital trends that shape the year 2016 05

The 10 Romanian human capital trends for 2016 11

1. Understanding Engagement 11

2. Organizational Design 14

3. Understanding Changing skills in HR 17

4. Culture 20

5. Design thinking
21

6. Leadership 23

7. People analytics 27

8. Learning 29

9. Digital HR 32

10. The Gig Economy 34

Methodology 36

Understanding Business and Talent 36

Respondents Demographics for Romania 38

Final remarks 39

Reference page 40

List of figures 41

Contributions and acknowledgements 42

02
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Foreword

Global forces are reshaping the workplace, the workforce and the work. In the midst of these
changes, HR is taking a new role as the agent to carry the necessary steps in order to design new
people processes that will push the HR leader from chief talent executive to chief employee
experience officer. HR is asked to redesign almost everything it does.

This year we are proudly introducing Global HR Trends for 2016 with a Romanian twist, which
surveyed business and HR leaders, whereby we have analyzed the ten Global trends that
are sweeping the organizations and analyzed them in Romanian organizations. The research
described in this report involved surveys with more than 7,096 business and HR leaders globally,
322 in Central and Eastern Europe and 47 business and HR leaders in Romania. We also looked
at how these organizations stand compared to the Global region and Central Eastern Europe
subregion and have discovered interesting and powerful insights. Those will help your organization
to understand both the global context of these trends and the changes they command in order to
take the necessary steps to stay on top.

We believe you will find the study insightful and we hope it will support your business in achieving
its goals.

Oana Petrescu

Partner-in-Charge
Consulting
Deloitte Romania

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

The new organization


Change, Disruption and
staying on the winning side
Global changes such as the widening generational gap, technological
advancement and a new employer-employee social contract are disrupting
traditional business models and the nature of work at a rapid speed. Deloittes
Romanian Human Capital Trends 2016 report, which surveyed business and
HR leaders, reveals that HR organizations are beginning to get ahead of the
curve by creating an entirely new blueprint for success. In the year ahead,
global organizations are undertaking organizational redesign, catering to
the employee experience and inverting traditional leadership hierarchies.
These are their top priorities so they can compete, innovate, and thrive in an
increasingly complex business ecosystem.

The 2016 Romanian Human Capital organizations and serve as a map for the research described in this report involved
Trends look in a meaningful way at the conscious organizations and HR leaders, surveys with more than 7,096 business and
changes and challenges of the Romanian as the pace of change accelerates. The HR leaders globally (see at the end of the
report for details on survey demographics).

04
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

The 10 Global Human Capital


trends that shape the year
2016 1

1. Organizational design: The rise of values, beliefs, behaviors, artifacts, and Employee engagement and retention today
teams reward systems that influence peoples means understanding an empowered
Hierarchical organizational models are not behavior on a day-to-day basis. It is driven workforces desire for flexibility, creativity
just being turned upside down they are by top leadership and becomes deeply and purpose. Under the evolving social
being deconstructed from the inside out. embedded in the company through a contract between employer and employee,
Businesses are reinventing themselves to myriad of processes, reward systems workers become volunteers to be re-
operate as networks of teams to keep pace and behaviors. Culture includes all the engaged and re-recruited each day.
with the challenges of a fluid, unpredictable behaviors that may or may not improve
world. The larger, more important and business performance. Today, culture is a 5. Learning: Employees take charge
more urgent part is to change how CEO-level issue and something that can be Corporate learning departments are
an organization actually works. Now, measured and improved to drive strategy. changing from education providers
more than ever, is the time to challenge to content curators and experience
traditional organizational structures, The impact of culture on business is hard facilitators, developing innovative
empower teams, hold people accountable, to overstate: 82 percent of respondents platforms that turn employee learning and
and focus on building a culture of shared to the 2016 Global Human Capital Trends development into a self-driven pursuit.
information, shared vision and shared survey believe that culture is a potential Shifting from an internally focused,
direction. competitive advantage. Today, new tools corporate-centric learning universe to a
can help leaders measure and manage learner-centric one upends many long-held
2. Leadership awakened: Generations, culture towards alignment with business beliefs in the HR community.
teams, science goals.
The profile for top leaders is complex and Employees will likely find it easier to
evolving. Organizations need to develop 4. Engagement: Always on make this pivot than HR departments
fundamental leadership capabilities among Engagement describes how people feel because this new world is already part
critical individuals and team capabilities about the way things work around here. It of their mobile, social, and online lives.
that include the ability to collaborate across is a way of describing employees level of For their part, business, learning, and HR
boundaries, conceptualize new solutions, commitment to the company and to their leaders must embrace a new mind-set
motivate diverse teams and develop the work. According to our model, engagement that puts learners in the drivers seat,
next generation of diverse and global encompasses five broad areas: meaningful redesigning programs to harness the
leaders. work and jobs, management practices power of technology and the amazingly
and behaviors, the work environment, diverse wealth of instantly available
Leaders of all ages, genders and cultures opportunities for development and external content, and offering great user
are now poised to take the reins at growth, and trust in leadership. When experiences to learners.
organizations around the world. How ready engagement is poor, employees feel
will these future business leaders be to uneasy or uncommitted, resulting in high 6. Design thinking: Crafting the
take charge in an increasingly complex turnover, low performance, and low levels employee experience
global marketplace? of innovation and customer service. New Design thinking takes aim at the heart
tools are enabling companies to monitor of unnecessary workplace complexity,
3. Culture: Shape culture and drive engagement on a detailed, real-time basis, by putting the employee experience
strategy delivering specific, actionable information first helping to improve productivity
Culture describes the way things work to continuously improve the work by designing solutions that are at once
around here. Specifically, it includes the environment. compelling, enjoyable and simple. Done
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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

well, design thinking promotes a virtuous 8. People analytics: Gaining speed and mobile-first. For many organizations,
cycle, generating higher levels of employee The use of analytics in HR is growing, with both in HR and across the enterprise, this is
satisfaction, greater engagement, and organizations aggressively building people a revolutionary opportunity. The digital HR
higher productivity for the company. In analytics teams, buying analytics offerings, journey focusing on the employee and HR
their new role as designers, talent leaders and developing analytics solutions. HR experience is one part of the larger digital
should ask: How can HR take the lead now has the chance to demonstrate HR challenge: to answer the question, How
in crafting and shaping the employee return on investment (ROI) on its analytics can HR play a role in developing the overall
experience? How can HR design overall efforts, helping to make the case for digital enterprise strategy, organization
experiences that engage employees at all further investment. People analytics trend and culture?
stages, from candidates through alumni? today brings together HR and business
Equally important, how can HR help data from different parts of the business 10. The gig economy: Distraction or
build and reinforce design capabilities and is now addressing a wide range of disruption?
throughout the organization? challenges: analyzing flight risk, selecting How can a business manage talent
high-performing job applicants, identifying effectively when many, or even most, of
7. HR: Growing momentum toward a characteristics of high-performing sales its people are not actually its employees?
new mandate and service teams, predicting compliance Networks of people who work without any
Good news: this years Global Human risks, analyzing engagement and culture, formal employment agreement as well
Capital Trends survey shows an and identifying high-value career paths and as the growing use of machines as talent
improvement in the HR organizations leadership candidates. are reshaping the talent management
skills, business alignment, and ability to equation. The design of the 21st-century
innovate. But as companies change the 9. Digital HR: Revolution, not evolution workforce will present new challenges to
way they are organized, they must embrace A new world for HR technology and design HR, technology, and business leaders that
the changing role of HR as well. HRs role teams is on the horizon. Mobile and other require deeper levels of collaboration to
is expanding beyond its traditional focus technologies could allow HR leaders to develop solutions. Leading companies
on talent management, process, and revolutionize the employee experience are tackling the questions that need to
transactions. HR is becoming an innovative through new digital platforms, apps, and be answered to compete successfully for
consultant with a broader responsibility innovative ways of delivering HR services. talent in this new environment, such as: (i)
to design, simplify and improve the entire How can its productivity be measured? (ii)
employee and candidate experience. HRs digital transformation begins with How can the organization optimize the new
a change of mind-set within the HR mix of workers from different sources? (iii)
organization, prioritizing connectivity, real- What are the appropriate ways to engage
time operations, platforms, automation, all of those segments? And who will lead
these efforts?

06
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Data collected is the main driver for the


Global and Romanian Human Capital
Trends
Organizations, Retailers, Travel and Leisure
Our Survey includes a large sample of 7,096 HR Leaders and by leaders coming from
Companies), 26% from Financial Services,
business and HR leaders globally. For CEE other departments within the respondent
15% from Energy and Resources Sector,
survey the total number of respondents organization. Even if in Romania 66% of the
and 15% from Technology, Media and
was 322 and for Romania was 47. The answers were from HR leaders, a significant
Telecommunications and 14% from others
results include perspectives coming from part of 34% that were from business
(including Public Sectors, Life Sciences &
numerous organizations that have different also sustain the need for change and for
Healthcare and Manufacturing).
sizes. improvement of Human Capital function
within their organizations - meaning that
Respondents rated each of the trends on
For Romania 45% of total respondents HR leaders can find support within the
a four point scale, from not important,
were from medium size companies company for implementing different types
to somewhat important, important
(between 1,000 and 10,000 employees), of projects for Human Capital.
and very important. By counting only
36% of total respondents were from large
the percentage of important and very
companies (more than 10,000 employees) The need for change is also visible
important responses, a relative ranking
and the rest were from small companies throughout industries - the study has
was produced.
(less than 1,000 employees). Moreover, the 30% of respondents from Consumer
results of the study are sustained both by Businesses (Consumer Goods

The survey asked business and HR respondents to


assess the importance of specific challenges regarding
talent that their organizations currently face.

07
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Engagement and Organizational design


took the top spot on the agenda of senior
In addition, leadership and People analytics
are an important concern for C-suite who
More than 93% of
executives and HR leader worldwide. recognize the need for a sound strategy to executives and HR leaders
Nearly 94% of respondents ranked
organizational design and engagement as
improve leadership and analytical skills in
their organization. When looking separately
ranked engagement and
top priority. at the 10 trends, there are a number of organizational design at
Next in line follows HR skills, Culture and
different observations. Figure 1 shows the
Romania HR Trends 2016 ranked in the
the top of their agenda in
Design Thinking that rank high this year order of importance and urgency the data 2016.
but it is important to acknowledge that this year, compared with the Global Central
adapting the organizational design is Europe and Eastern Europe.
of greater importance in the agenda of
executive leadership.

Figure 1 - Top Global and Romanian trends by importance and urgency


"How high up on the agenda of HR leaders and executives are the 10 trends in 2016 in Romania in comparison with Global?"

a. Importance (ranked as very important and important)


How important is the trend in your organization? (Very important, Important, Somewhat important, Not important)

81
94
Engagement 86
84
81
93
Organizational Design 92
88
81
90
78
HR skills 81
81
89
Culture 87
86
81
87
Design Thinking 79
78
81
85
Leadership awakened 89
89
81
85
People analytics 77
78
81
83
Learning 84
83
81
81
Digital HR 73
75
81
73
The gig economy 70
74
%
0 10 20 30 40 50 60 70 80 90 100

Romania Global CEE

b. Readiness (ranked as very ready and ready) c. Capabilities Gap


How ready is your organization to tackle the challenges posed by What is the gap in terms of capabilities in your
the trend? (Very ready, Ready, Somewhat ready, Not at all ready) organization to tackle the challenges posed by the trend?

62 -53
Culture 55 HR skills -38
62 -35
59 -45
Organizational Design 57 Digital HR -40
60 -39
59 -45
The gig economy 54 Design Thinking -39
-33
57
55 -45
Engagement 46 Learning -38
-34
52
53 -39
Leadership awakened 44 Engagement -40
49 -32
49 -36
People analytics 32 People analytics -45
37 -41
42 -34
Design Thinking 40 Organizational Design -35
45 -28
38 -32
Learning 46 Leadership awakened -45
49 -40
37 -27
HR skills 40 Culture -32
46 -24
36 -14
-16
Digital HR 33 The gig economy -17
36
%
0 10 20 30 40 50 60 70 80 90 100 -60 -40 -20 0 20

08 Romania Global CEE Romania Global CEE


Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Importance
Nearly 90% of large At the bottom of importance spectrum, (1) Romanias large organizations
the Gig Economy and Digital HR are on the respondents found 2nd Engagement in
organizations in Romania lowest two positions with 81% and 73% importance ranking and 3rd Organizational
consider Culture highly respectively. Design and Leadership. The survey
revealed a clear similarity between
important. When looking at the importance of trends Romania and CEE with both considering
broken down by business segments Engagement more important than on a
namely large, medium and small global level.
The Global and CEE Europe outlook
there are several key patterns that can be (2) Medium size organizations mirror the
show similarities as a group for the first
observed, i.e.: trend in the larger organizations, as 6 out
three positions in the ranking, namely
of 10 respondents consider Leadership as
Organizational Design, Leadership and
Larger organizations across the Globe important and very important.
Culture. Organizational design primes
better understand the importance of
in importance in the view of 92% of the
sound leadership in comparison with (3) Looking at the small segment
global respondents while 89% of CEE view
smaller ones. business leaders unanimous answers in
Leadership as the most important.
the survey across all regions, the most
important trend is Organizational Design
In contrast, 94% of Romanian leaders
followed by Culture2.
consider Engagement as the highest in
importance followed suit by Organizational
Design and HR skills.

Readiness
Just 37% of Romanian In Romania, the results revealed that
organizations are most ready for the
When it comes to HR skills, from results
it emerged that just 37% of Romanian
organizations are ready to Culture trend as reported by a share organizations are ready and very ready

tackle the challenges of HR of 62% of respondents, followed by


Organizational Design and The Gig
for the challenges while globally, close to
40% of organizations are very ready. The
skills trend and 36% are economy with 59% of respondents. By survey revealed a significant difference

ready to experience the comparison, globally, these trends are also


the top three trends in terms of Readiness
when it comes to People Analytics; just
32% of Global organizations are very ready
new trend of digital HR. but Organizational Design is the first one, to tackle the challenges in contrast to
followed by Culture and The Gig Economy. Romanian organizations where the share is
approximatively 50%.
Part of Romania HR Trends 2016 analysis By comparison, only 38% of Romanian
was to assess how ready are companies to organizations are very ready for the
tackle the challenges posed by the trends challenges posed by the Learning trend
analyzed. The analysis revealed some while Global respondents share of
interesting differences and similarities organizations that reported are very ready
between Romania, CEE and Global regions. is close to 50%. For Engagement trend,
ranked No.1 in the Romanian HR Trends
2016 ranking, only 55% of organizations are
very ready while Global organizations the
share is lower, 46%.

09
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Capabilities Gap
In terms of Capabilities Gap3 in Romania, of the top positions in terms of Importance Romanian companies have significant lower
we can state that the organizations face in Romanian companies. While looking capabilities gap for tackling the People
challenges with the Changing HR skills at the first most important trends for Analytics and Leadership trends. On the
trend, followed by Digital HR, Design Romania, Engagement and Organizational other hand, all the region experience
Thinking and Learning trends. However, Design, the capabilities gap is still high. almost the same value of capabilities gap
only Changing HR skills trend occupies one Compared with the Global and CEE results, in terms of Culture and The Gig Economy
trends (Figure 1c).

Chapter note
1
Global Human Caital Trends 2016 - The new organization: Different by design
2
An economy where temporary positions are common and the workers are contracted rather than employed
3
Capabilities Gap represent the difference between the percentages of respondents who consider a trend as important or very important and the percentages of respondents who considers that they are ready
and very ready to tackle that specific trend

10
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

The 10 Romanian
Human Capital
trends for 2016
1. Understanding Engagement
Always on
a companys employee and lastly, (5) the
We may look at an organization as a hive. seems to be changing at once: employee
status of the organizations programs to the
The bees in a hive are all working for a demands, structure of companies,
listed employee cohorts.
common goal in gathering honey for the nature of careers and the speed at which
winter and they share both the success in employees change jobs. Nearly half of the respondents across
having enough food to survive the winter all three regions ranked the companys
Engagement needs to keep up with
and both the failure to do so. It is how we current management and retention
the change and stay tuned to these
can look at an organization and understand program as Good, we are in line with our
changes by adopting an always on
how important is for employees to engage competitors with the highest percentage
approach. Engagement can be seen as
with their company and work together of respondents, 61% in Romania.
a temperature gauge of the companys
for a common goal. Especially in todays Interestingly, none of the respondents
ability to answer and address actively
hypercompetitive business environment. in Romania view their organization as
and proactively issues as they arise on
excellent and ahead of the pack while
The diverse environment and the multi- behalf of workforce. The survey measured
across the other three regions the average
generational and mobile workforce require engagement by analyzing the views of the
is 11%.
an employee-centric work environment. executives and HR leaders across five key
Companies often manage as many as issues: (1) what is the companys current With regards to Measurement frequency
five generations of workers, dispersed management and retention program, (2) of a companys employee engagement,
global teams and a heterogeneous mix what is the frequency measurement of nearly nine companies out of ten in
of genders, races, cultures and sexual companys employee engagement, (3) Romania conduct employee engagement
orientation. As a consequence, Employee the extent of companys reevaluation of frequency only once a year while just six in
Engagement, like Culture has become a the engagement programs to account for ten companies in the other regions, namely
CEO-level issue and it continues to be a changing workforce demographics and Global and CEE.
challenge for businesses as everything preferences,(4) the means of measuring

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Looking further at the results of the survey method across regions and sub regions
50% ranked to a great
regarding the extent of a companys according to the executives and HR
reevaluation of the engagement programs leaders is an annual survey as reported extent leadership culture
on average 45% of the respondents from by an average of 41% Global and CEE
as a potential competitive
Global and CEE ranked just to some respondents while in Romania the share
extent. In contrast to Global and CEE, was higher, nearly 59% reported the use advantage as opposed to
similarly but in a higher share nearly 72% of of an annual survey in their organizations.
Romania where close to
respondents in Romania characterized the Furthermore, 13% of respondents in
reevaluation of the engagement programs Romania report using recurring surveys 47% ranked the leadership
as to to some extent. as means of measuring the companys
views just to some extent.
employee engagement, second highest
As for means of measuring companys
rated tool after an annual survey.
employee engagement, the preferred

Figure 2 Understanding Engagement in Romania in comparison with CEE and Global statistics
"How is Engagement trend understood in Romania compared to CEE subregion and Global region?"

a. Companys current management and retention program characterization


How does the current management and retention program stand in relation to competitors?

100%
12% 11%
90%

80%
61% 47% 47%
70%

60%

50%

40%

30%
Excellent - we are ahead of the pack
20% 33% 27% 32%
Good - we are in line with our competitors
10% Fair - we are behind in this area
6% 14% 10%
0% Poor - we are seriously behind in this area
Romania Central& Global
Eastern
Europe

b. Measurement frequency of companys employee engagement c. Means of measuring company s employee


How frequently your organization measures the engagement of employees? What are the means currently used to measure the
engagement of employees in your organization?"

100% 4% 3%

90% 100%

90%
80%
80%
70%
63% 64% 42% 41%
70%
60%
59%
89%
60%
50%
50% 10% 13%
40%
Annual survey
More than once a month 40% 15% 14%
30% 8% 13% Recurring surveys
11%
Once a year 30%
5%
20% 4% 8% As needed pulse check surveys
Once a quarter 20% 16% 17%

10% 6% 8% Interviews and focus groups


Once a month 8%
4%
10% 8% Social media monitoring
5% 20% 18%
0% Never 9% 12%
4%
Romania Central& Global 0% Other
Eastern Romania Central& Global
Europe Eastern
Europe
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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

The highest percentage In Romania 44% of the respondents view


More than half of the Romanian HR leaders
the status of the programs for Generation
of respondents, 61% X as good, in contrast to Central, Eastern and executives in 2016 view Understanding

in Romania ranked Europe and Global where the percentage is Engagement in their organization as very
important and similarly reported by the
on average 23%.
the management and Global respondents.

retention program as There is an intense competition for


45% of Romanian executives see
talented Millennials and so it is important
Good. for companies to gauge the level of Engagement as important compared to a
engagement in their organization with lower share of 38% of respondents globally.
this particular cohort. At a Global level Only 6% of Romanian organizations
Analyzing the answers from the survey consider that they are very ready to tackle
20% view the status of engagement
about the status of the programs to the challenges posed by this trend while
good, similarly reported in CEE with
the employee cohorts (Baby Boomers globally, two times more organizations view
21%. In contrast in Romania nearly 33%
generation, Diverse Employees, Generation themselves as being very ready.
of Generation X employees view the
Z, Generation X Employees and Millennials)
engagements merely Good.
prompts the following observations: Moreover, regarding the Engagement
trend, a significant share of respondents in
Romania and globally, close to 40% in both
regions have a very high capabilities gap.

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

2. Organizational Design
The rise of teams

If you wish to build a tall building that can As such, the world is moving fast and Design, the trend was broken down
withstand the winds, earthquakes and this movement brings change that forces in four sub-issues namely: (a) how a
other environmental hazards but also want companies to become more innovative, company understands best practices
the building to answer well functionally to stay closer to their customers and adapt in the organizational structure, (b) what
your needs, you need a strong structure their product and services to these is the structure of the company, (c)
and a very good design. Much alike is an changes. As consequence, it brought back how the efficiency looks like in terms
organization which with a good design the focus of executives and leaders on the of accomplishing business goals and
it can adapt to change and withstand business organization. last but not least (d) how recently the
challenges. organization was restructured. The
To better grasp the views of the
answers paint a more comprehensive
organizations in terms of Organizational
picture of how executives and HR leaders
see their organizations in the context of
organizational design.

Leaders of small businesses across all four regions rank


Organizational Design as the most important trend
followed by Culture.

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Figure 3 - Understanding Organizational Design in Romania in comparison with CEE and Global data
"How is Organizational Design trend understood in Romania compared to CEE subregion and Global region?"

a. Company understanding of best practices in organization structure


How well does your organization understand the best practices in organizational structure?

38
Romania 48
14

12
45
Very good understanding
CEE 32
10
1
Good understanding

Fair understanding
11 Poor understanding
36
Global 39 Not sure
13
1

%
0 5 10 15 20 25 30 35 40 45 50

b. Structure of the Company


What is currently the structure of your organization?
Cross-functional project/
program based
14
41 Primarily organized
0 by function
7
Romania 10
17
0
Primarily organized
10 by product

13 Primarily organized
38 by geography
8
3
CEE 9
Hybrid of function and
12
6 product
13

Hybrid of function and


10
38 geography
7
3
Global 11 Hybrid of product and
13
3 geography
13
Complex hybrid
%
0 5 10 15 20 25 30 35 40 45

c. Efficiency in accomplishing its business goals


How would you asses your organizations efficiency in accomplishing its business goals?"
Current organization
is highly eective in
achieving business
goals
Current organization
7 is eective in
52 achieving business
Romania 38 goals
3
Current organization
is partly eective in
achieving business
16 goals and requires
36 improvements
CEE 37
9 Current organization
3
is not eective in
achieving business
goals and requires
14
36
signicant
Global 40 improvements
7
2 Not applicable
%
0 5 10 15 20 25 30 35 40 45 50 55
15
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

a. Understanding of best practices in b. What is the Structure of the 3% who view their organizations as not
Organization Structure Company effective.
Finally, the study revealed that when it
On a Global level the results are staggering When it comes to structure, the highest comes to how recently the organization
with nearly 92% of the companies who share, close to 38% of Global and CEE was restructured, half of the Romanian
believe that Organizational Design is very Europe organizations participating in companies stated that their company is
important or important, placing it as the survey stated that they are primarily currently restructuring.
the number one in importance ranking. organized by function. In comparison,
In terms of understanding best practices nearly 41% of the organizations in Romania In conclusion, more than half of the
in organizational structure, five in ten are organized by function and with the next Romanian respondents (55%) rated
companies consider that they have a highest percentage of organizations as Organizational Design trend as Very
good or a very good understanding of hybrid of function and geography. important and similarly rated by Global
best practices in Organization structure. respondents (56%). When it comes to the
Out of all Central Europe organizations, respondents who rated the trend as just
only three in 10 companies ranked fair the c. Efficiency in accomplishing its somewhat important, the total share is
company understanding of best practices business goals only 6% in Romania and 7% globally which
in organizational structure. In contrast, places Organizational Design as second in
48% of Romanian executives and HR Respondents answers have revealed that Romania in terms of top most important
leaders ranked fair the understanding globally and in CEE four in ten companies trends in 2016 and No. 1 Global. However,
of best practices with no respondents (40%) view their organizations as partially just 6% of Romanian organizations are
viewing their organizations as having a very accomplishing their business goals very ready to tackle the challenges of this
good understanding of best practices in compared to 38% of organizations in trend while globally the share is more than
Organization Structure. Romania. double (14%). According to the survey, 34%
of Romanian organizations view a gap in
In Romania nearly 52% (the highest capabilities to tackle the challenges posed
percentage across regions) view that by this trend with a similar share globally,
the current organization is effective at 35% according to the 2016 findings.
achieving their goals and just under

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

3. Understanding Changing skills in HR


Growing momentum toward a new mandate

In evolution, humans had to continuously HR skills were weak, companies were global level, only 25% of the respondents
learn new skills in order to adapt to the not spending enough on developing consider changing their HR skills. Moreover,
ever changing and difficult environment HR professionals, and HR itself was too while asked about the skill level of HR
and it is this, among other traits that focused on service delivery and not enough organization in addressing global HR and
allowed it to survive and even thrive. Much on building consulting skills. In Romania the talent issues, 80% of the respondents
the same way, organizations need to results were similar with the global ones. said that they have somewhat (50%)
learn new skills and it is HR who ensures While some of these complaints remain to moderately (30%) skilled HR talents.
that organizations hire people with the valid, this year we take a contrary view. In Only 10% of the respondents said they
necessary skills that allows the organization fact, we believe HR is turning the corner. have highly skilled HR talents in their
to adapt and succeed. In Romania, the results show that the main companies. In the same time, at the global
The Global Human Capital Trends 2015 trend within companies is to consider level the answers are from moderately
report concluded that HR needed an some change in the HR skills. This is in (40%) to somewhat (33%) but there are
extreme makeover. We noted that contradiction with the global trend. At the 14% who responded that their HR talents
are very skilled.

17
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Figure 4 Understanding changing skills in HR in Romania, CEE and Global


"How is Changing Skills in HR trend understood in Romania compared to CEE subregion and Global region?"

a. HR Organizations understanding about their company


products, services, and profit models;
How well does your organization understand the products, services,
and profit models?

100%
10%
17%
90% 22%

80%

70%
40% 40% 38%
60%

50%

40%
Very good understanding
30% 40% 28%
33%
Good understanding
20%
Fair understanding
10% 11%
Poor understanding
10% 9%
0% 2% Not sure
Romania CEE Global

b. State of talent and sourcing capabilities


What is the current state of the talent and sourcing capabilities in your organization?

100%
10%
90% 21%

33%
80%

70%

60% 38%
25%
70%
50%

40%
Currently revamping
30% 24%
25%
Considering changes
20%
10% Updated in past 18 months
10% 15% 14%
No plans to review
10%
0% 2% 3% Not applicable
Romania CEE Global

In CEE there are with 12 percentage services and profit models. The differences
Furthermore, only 10% of the respondents
points more respondents that think between regions in terms of the HR
said that the organizations HR has a very
that the organization has a very good understanding is showed in figure 4a.
good understanding about their company
understanding of company products,
products, services and profit models.

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Figure 5 - Career path for HR professionals in the company


"What are the career paths for HR professionals in your organization?"

100%
9%
14%
90% 8%
30%
80% 11%

70%

60%
61%
50% 50% Rotational assignments,
50% then promoted based on tenure
40%
Rotational assignments,
30% then promoted based on peer feedback

20% Somehow ad-hoc - we have no real


career model for HR sta
10% 25% 22%
20%
Structural career path with specialist,
0% generalist, and director roles over time
Romania CEE Global

while globally the share is 17%. However,


Taking into consideration the career path based in peer feedback, while in CEE a
just 3% of Romanian organizations are
for HR professionals in the company, in percentage of 11% said that apply this
very ready to address the challenges of
Romania is registered the highest share of career path for HR professionals.
Changing Skills in HR trend compared to
respondents (30%) saying that there are
nearly 10% globally. When it comes to the
rotational assignments, then promoted In conclusion, nearly half of Romanian
gap in capabilities required to address
based on tenure, with 16 percentage points respondents consider the Changing Skills
these challenges, more than half of the
greater than CEE and with 21 percentage in HR trend as very important compared
Romanian organizations (53%) have a
points greater than the Global statistics. to a lower 36% globally. In contrast, 11% of
very high gap, compared to a just 38% of
On the other hand, in Romania there is no Romanian HR leaders and executives view
organizations globally.
rotation assignment and then promotion the trend as just somewhat important

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

4. Culture
Drive Strategy Figure 6 - Companys understanding
and focus on Culture as a strategy for
Culture refers to how different values, performance and talent management
Nearly half of the executives and HR
beliefs, behavior etc. influence peoples "What is the understanding and focus on
leaders at Global and CEE level ranked
actions. For example, if a person values culture of your organization as a strategy for
to a great extent the level at which their
their personal and other peoples time, performance and talent management?"
companys leadership views culture as a
it is more likely for them to put a greater potential competitive advantage. Romania
Romania
effort in not being late every time they have goes against the Global trend as 47%
Excellent - culture stro
any type of appointment (either personal of Romanian respondents ranked their documented, commun
5%
or professional). Similar, in a company, if leadership views on culture as a potential 11% throught the company
assessment
a companys culture is oriented towards competitive advantage just to some
Good - well understoo
client satisfaction, all the actions of the extent. documented artifacts
misalignment which w
employees would reflect this culture, 21%
As for the updates required to corporate
including the way of talking to customers, Fair - culture not clear
culture to reflect changing business some places presents
keeping promises etc. engagement, performa
demographics nearly half of respondents
CEOs and HR leaders recognize now that (Globally, including Romania) view 63% Poor - culture generall
needed on dening an
culture drives people behavior, innovation that changing competition and talent leadership and manag
and customer service and as a result of this CEE
markets are driving change to their We have no focus in th
recognition, the Culture trend has taken Excell
culture. By comparison on average 31% docum
the spotlight and has become one of the 10%
of respondents believe that the current 21% throu
asses
most important topics in 2016. Few factors culture is a strong competitive advantage.
Good
contribute more to business success than docum
Finally, the results of the survey showed 2%
culture that describes the way things are misali
that when it comes to the companys
done around here which includes values, Fair -
understanding and focus on culture as 40% some
beliefs, behaviors and reward systems. engag
a strategy for performance and talent 27%
Interestingly, the value and the importance management, half the executives and HR Poor
neede
of culture is visible in difficult times or when leaders have ranked consistently across leade
the organization undergoes some major regions good well understood culture Global
We ha
transformations as it is often the case in prevalent with documents artifacts but Excellent - culture stro
documented, commun
todays hypercompetitive, uncertain and there are areas of misalignment which 9% throught the company
16%
assessment
challenging business environment which we would like to improve. Interestingly,
is yet another reason for which companies Good - well understoo
Romania has the highest share of 2%
documented artifacts b
recognize the importance of Culture. The respondents (63%) compared to Global and misalignment which w

executives and leaders have been asked CEE respondents who ranked Culture as Fair - culture not clear
some places presents
to rank Culture in the survey around three good, well understood". Moreover, only 5% 45% 29% engagement, performa
key dimensions such as the extent to which of the executives in Romania, the lowest
Poor - culture generall
a companys leadership views culture as across regions, view their organization needed on dening an
a potential competitive advantage, the as poor with culture misaligned and a leadership and manag

updates required to corporate culture to focus needed on defining leadership


Global and We have no focus in th

reflect changing business demographics management culture as opposed to CEE Excellent - culture strongly dened, well
and last but not least, the companys where the share is double, 9% nearly one in ten documented, communicated and measured
throught the company as well as for candidate
16%
understanding and focus on culture as companies (10%) view their organizations assessment
a strategy for performance and talent as doing poor. 2% Good - well understood culture prevalent with
documented artifacts but there are areas of
management. misalignment which we would like to improve

Fair - culture not clear and consistent and in


some places presents problems in
45% 29% engagement, performance, and retention

Poor - culture generally misaligned and focus


needed on dening and improving our
leadership and management culture

We have no focus in this area


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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

5. Design thinking
Employee productivity & experience

What is Design Thinking? Clothes, cars, overwhelms employees and fragments experience with a positive impact on both
phones and many other everyday their attention. Moreover, most of the the employee experience and productivity.
items have evolved from existing only HR programs were built around forms or
Around three key issues were asked from
as functional items to objects that can process steps and these programs only
respondents in the survey to assess in their
integrate the functional aspect with add to the increasing flood of information
current organization, namely; functional
elements that make the use of these from e-mails, text messages meetings
areas which practice design thinking,
objects more meaningful. They may even and other distractions. This increases the
understanding of best in class thinking and
become a personality statement, they attention fragmentation and does not
prevalence of design thinking in HR and
may provide solutions that are more have a positive impact on productivity
talent programs. These issues were ranked
compelling or make the use more simple as Deloitte Research shows, people
and later analyzed in order to get a deeper
and enjoyable. This is done by applying collectively check their phones more than
understanding on how much Design
design concepts of user focus, innovation 8 billion times each day1, yet productivity is
Thinking trend impacts their organization
and teamwork to problem solving. barely rising2. Design thinking casts HR in a
and how. The following results emerged,
new role6. It transforms HR from a process
Any successful organization needs which underline importance that the
developer to an experience architect.
productive employees but today, although organization came to acknowledge of the
Like an artist, HR is placed to reimagine all
technology brings a wealth of benefits, role design plays in overcoming complexity.
aspects of work around the person or the
the constant flood of information often

In Romania, the functional areas that


Figure 7 - Functional areas that practice design thinking in Romania
practice design Thinking the most are
"What are the functional areas in your organization that practice design thinking?'
Product Development and Customer
Service as reported by 17% of the
Product development
5%
2% respondents for both categories. The
Brand / Marketing
3% 17%
respondents in CEE region reported in a
Customer Service
7% similar share (16%) Product Development
HR / Talent
as the functional area that practices the
Operations (including manufacturing) most design thinking" while in contrast
14%
12% Sales to Romania, 16% of CEE respondents
IT reported Brand or Marketing the second
10% 17% R&D highest. Similarly to CEE, and Romania,
12% Finance 16% of the respondents from the Global
Other region reported Product Development as
the functional area that practices design
thinking, followed by Brand or marketing
functional area as reported by 15% of
respondents.

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

When it comes to HR functional area, 12% In conclusion, when asked how


of HR leaders and executives in Romania important Design Thinking trend is in
view this particular functional area as their organizations, 87% of Romanian
practicing design thinking while in the CEE respondents ranked the trend as
region, the share is 13% while in contrast important and very important.
in the Global region the share is just 11%, When it comes to how ready are
the lowest among the regions reported in companies to respond to challenges that
the survey. However, the functional areas Design Thinking trend poses to their
which practice Design Thinking that see organizations, 42% of HR leaders and
the lowest share of respondents that executives consider they are Ready and
consider them as practicing design thinking very ready, similar with the share of global
are IT, R&D and Finance. respondents. However, there is a very high
capability gap of 45 percentage points
The second issue that respondents of
regarding Design Thinking compared to
the study have answered about 2016
approx. 33 p.p. in CEE.
design thinking trend was how well their
organizations understand best in class
design thinking. The following results
emerged. No respondent in Romania has a Figure 8 a. Understanding of the best in class thinking
very good understanding of best in class How well does your organization understand the best in class design thinking?
design thinking. In contrast, in CEE region
the share of respondents is nearly 16% who
report that their organization has a very
good understanding of best in class design Romania 42% 32% 26%

thinking, while globally the share is 10%.


However, 42% of respondents in Romania
reported as having a good understanding, CEE 16% 36% 27% 18% 3%

while the share in CEE and global is lower,


36% and 30% respectively.
Global 10% 30% 37% 20% 3%
The third issue that HR leaders and
executives were asked in the survey was %
0 10 20 30 40 50 60 70 80 90 100
the prevalence of design thinking in HR
& talent programs. Nearly 47% of the Very good understanding Poor understanding

Romanian HR leaders and executives Good understanding Not sure

reported somewhat prevalent of design Fair understanding

thinking in HR and talent programs. By


comparison, the share in CEE was lower by
4 percentage points (43%) while globally
the share was just 36%. Among the regions b. Prevalence of design thinking in HR & talent programs
the highest share of respondents that How prevalent is design thinking in your organizations HR and Talent Programs?
reported not at all prevalent is Romania
with 21% followed by the Global region
where the share was 16% and finally CEE
Romania 47% 26% 21% 5%
with 15%.

CEE 18% 43% 25% 15%

Global 12% 36% 31% 16% 5%

%
0 10 20 30 40 50 60 70 80 90 100

Very prevalent Not at all prevalent


Somewhat prevalent Not sure
Not very prevalent

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

6. Leadership
Generations and Leadership

Leadership refers in very general terms to adapt their actions in a timely matter across several areas. When it comes to
to the ability of motivate and coordinate in order to fructify the opportunities and understanding Leadership, Globally, 36%
people in order for them to work towards mitigate the threads. of the respondents agree that leadership
a common goal. It is important in any competencies are understood. In CEE
What makes a good leader? This question almost the same share of respondents
situation for people to have a direction and
has been both asked and tried to be agree that in their organization the
coordinating their efforts in the same route
answered by many generations of leaders competencies are well understood,
in order to bring the organization where
and business leaders who aspire to while, in Romania, more than half of
it is desired. This is similar to the situation
become even better at leading in their the respondents agree that leadership
of a basketball team where individuals
organization. The question is still pervasive competencies are well understood in their
have different capabilities, strengths,
among HR leaders and executives as organization. On the other hand, 29%
weaknesses and they need a coach in
globally it ranked higher in importance than of the respondents reported that they
order to lead them towards coordination of
last year, ranking as high as second place disagree that leadership competencies
the team or adapting their game depending
globally but only eighth place in Romania. are understood by leaders and no HR
on the opponents weaknesses. As each
player has its own role in the team, it Organizations need to refocus on leaders or executives reported to strongly
would be difficult, if not impossible, for the leadership as a whole, build flexible and disagree while in the Global and CEE
players to concentrate on the opponents, easily adaptable leaders and leadership regions the average was 7%.
themselves and other team members teams that are able to mix different Looking at the views of HR leaders
at the same time, therefore the role of a generations and varieties of leaders in the and executives regarding how well the
coach is crucial in the team. This is also organizations and all in a structured way leadership development is integrated with
the case of a company, where leaderships on a foundation for investments, programs all aspects of talent management, the
role is to coordinate and motivate people and leadership priorities 4. survey revealed that 32% globally agree
to work together in order to achieve a with a similar result in CEE.
Data gathered from respondents, Globally,
common goal, but also to keep an eye on
CEE and Romania shows differences
the life outside de organization in order

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

organizational strategic goals and ten respondents view their organization as


In Romania, half of the respondents
objectives. In Romania, 34% answered having a strong bench.
agree that leadership development is well
understood, the highest among the regions agreed compared to a higher share of The primary drivers for leadership
and with 10% reporting that they strongly respondents, 43% Global respondents. investments this year in Romania are the
agree that in their organization, leadership According to the survey, 45% of the CEO and his/her direct subordinates as
is well integrated with all aspects relating Romanian respondents view the leadership reported by 34% of respondents followed
to talent management strategy. Just 7%, strategy as addressing all level of leaders by senior business leaders as reported
the lowest among the regions reported in in the pipeline while globally the share was by 28% of respondents. On the other side
Romania that they strongly disagree. 34%. of the spectrum, 7% of the respondents
The survey revealed a surprising aspect, in Romania view as primary drivers for
The respondents were asked to rate
that nearly four in ten organizations in leadership the HR leaders.
the engagement level of executives in
leadership development programs, Romania are updating their leadership Regarding any future plans for expanding
ensuring business alignment to these strategy while in contrast three in ten and investing in leadership programs, 45%
programs and approving leadership companies in CEE and Global regions. of Romanian respondents reported a
competencies and delivering programs. Moreover, close to 25% of the organizations moderate growth and expansion ( between
The results revealed that four in ten in Romania have not updated the strategy 5-10%) reported by a similar share (43%)
respondents (40%) across all regions and with 7% reporting not having a clear of respondents in CEE while Globally
agree that their leadership is engaged. In leadership strategy. the share was lower, just 35% and 32%
contrast, in Romania, nearly 62% of the respectively. An interesting aspect is that
respondents reported that executive are According to the survey, substantial among all four regions the highest share
engaged, the highest among all regions. investment in leadership development of respondents (21%) reported significant
When looking at the respondents who is received by high potential managers growth and expansion this year (10% and
strongly agree, in Romania, 14% reported as reported by 34% of respondents, in above).
that they are engaged while in CEE the contrast to Global respondents who
reported top corporate executives as The focus of the current leadership in
number was 20%, and Globally it was with
receiving substantial investment. Romania is identifying emerging leaders
2 p.p. higher.
and senior leaders, as reported by 27%
Another topic asked in the survey was if Looking at the leadership bench strength, of the respondents, similarly in the other
the leadership development programs close to four in ten Romanian respondents regions as reported by 31% in CEE with a
have been designed to support the reported a strong leadership bench by similar share globally, 30%.
comparison to Global where only two in

The survey revealed a surprising aspect, that four in ten


organizations in Romania are updating their leadership
strategy while in contrast just three in ten companies in
CEE and Global regions.

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Figure 9 Understanding Leadership


"How is Leadership trend understood in Romania compared to CEE subregion and Global region?"

a. Understanding Leadership competencies b. Leadership development is well-integrated with all


Are Leadership competencies understood in your organization? aspects of our talent management strategy;
Is Leadership integrated with all aspects of your organizations
100% 1% 1% talent management strategy?
13%
90%

80% 36%
100%
10% 10%
14%
70% 53%
34% 90%

60% 80% 32%

50% 70% 53%


34%
25%
Strongly agree 60%
40% 31%
17%
Agree 50% 24%
30%
Strongly agree
26% Neither agree nor Disagree 40% 24%
20% Agree
16%
Disagree 30%
29%
10% 24% 24% Neither agree nor Disagree
Strongly disagree
10% 20%
5% 18% Disagree
0% 1% 1% Not sure 7%
10% Strongly disagree
Romania CEE Global 9%
7% 8%
0% 1% 2% Not sure
Romania CEE Global

c. Our executives are highly engaged in our leadership d. Our leadership development programs have been
development programs (e.g., ensuring business alignment, specifically designed to support our organization's
approving leadership competencies, delivering programs); strategic goals and objectives
Are your organizations executives engaged with the leadership Have your organizations leadership development programs been
development programs (e.g., ensuring business alignment, specifically designed to support your organization's strategic goals
approving leadership competencies, delivering programs)? and objectives?"

100% 100%
14% 16% 18%
90% 21%
90% 27%
25%

80% 80%

70% 70%
40% 43%
60% 60% 34%
44% 51%
62%
50% 50%
Strongly agree Strongly agree
40% 40%
20% Agree 19%
Agree
30% 30% 25%
22% Neither agree nor Disagree Neither agree nor Disagree
20% 20%
17% 17% Disagree 14% 12%
Disagree
10% 13% Strongly disagree 10% Strongly disagree
15% 6%
7% 5% 7%
0% 1% 1% Not sure 0% 1% 2% Not sure
Romania CEE Global Romania CEE Global

25
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

e. Our leadership strategy addresses all levels of leaders in the pipeline


Does your organizations leadership strategy addresses all levels of leaders in the pipeline?

100%
10% 13%
90% 19%

80%

70%
27% 34%

60% 45%

50%
21% Strongly agree
40% 27%

Agree
30% 28%
Neither agree nor Disagree
20% 23%
20% Disagree
10% Strongly disagree
17%
5% 7%
0% 1% 2% Not sure
Romania CEE Global

In conclusion, Leadership is very somewhat important compared to trend while globally the share is 11%.
important for 53% of Romanian a lower 9% globally. However, 19% of By comparison, 32% of Romanian
organizations in comparison to 57% Romanian of respondents view their organizations find they have a very high
globally. In contrast, 15% of Romanian organizations as very ready to address gap in capabilities while globally the share
respondents rated Leaderships as the challenges posed by the Leadership is 44%.

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

7. People analytics
Gaining speed

To analyze is to ask what something means. When asked on the level of understanding as having a very good understanding of
It is to ask how it does what it does or why of the best in class HR analytics, most of the HR analytics issue, a total of 45% of
it is as it is. For example if you are losing a the Romanian respondents (36%) assessed them consider they have at least a good
game of chess or you left a job interview, they have a good understanding of it, a understanding of the (including good and
you would ask yourself how can I increase share identical to the one from CEE and very good understanding responses),
my odds in winning or how likely am I to higher than the one at global level (only surpassing the share of global respondents
get the job? Similarly, businesses have 27%). However, compared to the regional with similar answers by 10%.
recognized they need data and also analyze or global results, Romania exceeded in the
Overall, the results show that there is still
it in order to figure out what makes people share of respondents that considered they
some place of improvement left in Romania
join, perform well in and stay with an have a poor understanding of this issue
in terms of understanding the best in class
organization, who will likely be successful, (27% of them), although the differences are
HR analytics in order to reach the CEE
who will make the best leaders and what not significant (25% at the global level and
levels, even if the level of understanding is
is required to deliver the highest quality 23% for the CEE). Furthermore, even if only
overall greater than at the global level.
customer service and innovation. 9% of the Romanian respondents assessed

Figure 10 - Understanding people analytics in Romania, CEE and Global


"How is People Analytics trend understood in Romania compared to CEE subregion and Global region?"

a. Understanding of the best in class HR analytics b. Quality of data available to support HR analytics
How well does your organization understand the best in class HR How do you asses the quality of data available to support HR
analytics? analytics in your organization?

100% 1% 3% 100%
9% 11% 17%
90% 90%
27% 23%
25%
80% 80%
36%
70% 70% 38%
25% 41%
60% 60%
27%
36%
50% 50%

40% 40%
36% Very good understanding
30% 30% 38%
36% 55%
Good understanding Very good
27% 35%
20% 20%
Fair understanding Good
10% Poor understanding 10%
14% 12% Fair
9% 8% 7%
0% Not sure 0% Poor
Romania CEE Global Romania CEE Global

27
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Another topic that was evaluated during The field where HR analytics is most used global trends. Also, as there was a higher
the survey was the quality of the data is represented by compensation, with percentage of Romanian respondents
available to support HR analytics. The 18% of the cases in Romania and globally assessing an at least good quality of data
results from Romania indicate that most and 19% in CEE. On second place where supporting HR analytics superior to the
of the respondents assessed the data people analytics is currently most used in respondents in other regions (or even
available to support this area as being Romania is recruiting, sourcing, retention at global level) indicate a considerable
of at least good quality, exceeding the and attrition prediction, each with 16% of development potential of the HR analytics
results of any other region (a total of 55% the responses. area in Romania.
in Romania, compared to 50% in CEE and
In the CEE region and globally the retention To conclude, 30% of Romanian
42% Globally), despite the fact that none
and attrition prediction is not considered respondents rated People Analytics
of the respondents considered the data as
in top three areas as it is in Romania, trend as very important compared to
being of very good quality. In addition, the
on the third place being considered the Global respondents where the share
lowest percentage of the respondents in
performance management instead. was higher, 36%. In contrast, 11% of
Romania considered the data available of
Romanian executives and HR leaders
poor quality (only 9%), as compared to 11% On the other side, the domain where
rated the trend as just somewhat
in CEE and 17% globally. This shows a great analytics are the least used in Romania,
important while globally the share
potential for development for the analytics but also at global and regional level
was higher, 17%. However, just 49% of
supporting the HR functions in Romanian is considered to be career path and
Romanian organizations are ready and
companies. succession management, with only 8% of
very ready to respond to challenges that
the global respondents and 9% from the
Lastly, the survey also aimed to discover People Analytics trend poses compared
Romanian respondents assessing the HR
the areas where the HR analytics is used, to a lower share of 32% of organizations
analytics as used.
where respondents had eight options to globally. Moreover, in contrast, as high as
choose from, representing seven explicit The overall results shows that the level 45% of global organizations have a gap
areas5 and one open option (Other). The of understanding of HR analytics and in capabilities regarding People Analytics
results indicate similar results for Romania the fields where is the most often used trend, compared to a lower share of 36% of
and the other regions, with only small in Romania are mostly in line with the Romanian organizations.
differences.

Figure 11 - Areas where HR analytics is used


"What are the areas in your organization where HR analytics is used?"

100%
16% 16% 17%
90%

80%
14% 13%
16%
70%
14% 14%
60% 14% Recruiting and sourcing

50% Retention and attrition prediction


18% 19% 18%
Workforce planning
40%
Compensation
30% 12% 11%
14%
Benets
20% 16%
11% 16% Performance management
10%
9% 8% 8% Career pathing and succession management
0% 2% 2% 3% Other
Romania CEE Global

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

8. Learning
Employees take charge

Throughout our lives we collect a significant The pressure on organizations intensifies for organizations to constantly upgrade
amount of information and knowledge as the demographics change and rapid skills and rapidly build leaders.
through what we experience and as we advancement of technology push
In order to understand what organizations
grow we seek to apply what we have companies to develop new approaches
do about the topic of learning, the survey
learned. Learning may be also an important to place employees in charge of learning
collected data about the effectiveness
building block for an organization, similarly and nurture a learning culture throughout
of current learning and development
to football team or a rugby team who uses the organization. In the complex and fast
programs, the nontraditional means
information about the other team, statistics moving business environment, skills can
to support employee development
and observations in the next game with the become rapidly obsolete and so learning
and also the relevance of corporate
purpose to obtain a better result. and development of employees is critical
learning function in supporting employee
development.

Table 1. Learning, today and tomorrow

Today Tomorrow
Learning is a series of corporate programs built around Learning is an environment and an experience,
L&D-designed content and L&D-approved experts. leveraging experts, content, and materials sourced and
recommended by external communities as well as by other
employees and internal experts (not just L&D).

The learning environment is managed by a Corporate The learning environment feels like a consumer website that
Learning Management Systemessentially a large catalog provides videos, courses, content, and access to experts as
lled with courses. well as recommendation engines that help people nd
precisely what they need.

L&D, business, and compliance experts push out training, Employees pull learning, navigating and accessing
identifying required courses to be completed by employees opportunities from inside and outside of the company.
based on roles.

The focus is on internal training sanctioned by the company. External training is available from any digital content source.

Learning professionals are generalists who do everything Learning professionals are specialists who are excellent at
from design to development, logistics, and measurement. the component they own

Training follows a lecture-based model guided by an expert. Training is experiential, relying on simulations, case studies
and ipped classrooms.

Employees learn specic skills through expert-guided Employees learn how to learn through facilitation and
instruction. coaching.

Organizations create detailed, exhaustive, skills-based Organizations create high-level frameworks that outline
competencies that drive the learning agenda. broad capabilities

The learning organization plays a lead role in what a person The learning organization plays a supporting role in what
learns and focuses on delivering work experiences, a person learns, expanding the 10 to include inside and
interactions with others, and formal training in the outside learning; shifting the 20 to include internal and
traditional 70-20-10 ratio. external networks; and redening the 70 to include corporate,
community, and social experiences.

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Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

When looking at the nontraditional means


The results show that on a global level the In Romania, close to 46% consider the
to support employee development, the
highest number of respondents, 36% find programs as adequate while only 23%
most used nontraditional means as
the learning and development programs effective, the lowest among the regions
reported by an average of 28% of the
currently in place merely adequate, with and by a difference of 19 percentage points
executives across regions are the External
only 8% rating them as very effective. from the CEE region. At the same time,
Certification programs. In contrast, 34%
no respondent view the programs in their
In CEE the situation looks different. Nearly of executives in Romania report External
organization as very effective compared
42% consider the current programs educational institutions as the preferred
to an average 7% in the other two regions.
effective and a lower 6% very effective. means while, the highest number of
respondents who use Massive Open
Online Courses (MOOC) are from Romania.

Figure 12 - Understanding Learning in Romania in comparison with CEE and Globe


How is Learning trend understood in Romania compared to CEE subregion and Global region?

a. Effectiveness of current learning and development programs


How effective are the current learning and development programs in your organization?

100%
7% 7%

90%
17%
31% 19%
80%

70%

60% 29%
36%
50% 46%

40%
Very eective
30% 42%
Eective
29%
20%
Adequate
23%
10% Somewhat adequate
6% 8%
0% Very innefective
Romania CEE Global

b. Non-traditional means to support employee development


What are the non-traditional means in your organization to support employee development?

100%

90% 22%
30%
32%
80%

70%
34%
60% 20%
26%

50% External certication programs

40% 22%
Programs sponsored by external
18%
30% 27% educational institutions
MOOCs (Massive Open Online Courses)
20% 18%
14%
11% Esternal self-directed learning powered by
10%
social media
6% 9% 9%
0% Other
Romania CEE Global
30
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

c. Relevance of corporate learning function in supporting employee development


How would you asses the relevance of corporate learning function in supporting employee development in your organization?

100%

90%
24%
31% 30%
80%

70%

60%

50% 54%
51%
40% 54%
Primary means of employee development
30%
Relevant, but being augmented by other
20% means
13%
12% Decreasingly relevant, being replaced
10%
15% by other means
9% 7%
0% Not applicable
Romania CEE Global

Close to 46% consider the In terms of relevance of corporate In contrast, 13% of Global HR leaders
learning function in supporting employee and executives view Engagement as just
programs as Adequate in development, more than half of somewhat important while in Romania
Romania, highest among respondents across all four regions the share is 15%. When it comes to how
reported corporate learning as relevant ready are companies to respond to the
the regions. but being augmented by other means. challenges of this trend, just 38% of
Nearly 15% of respondents in Romania, the Romanian executives and HR leaders
highest among all regions reported that consider their organizations as ready
the relevance is decreasing and replaced by and very ready while globally there are
other means. approx. 50%. However, a very significant
share of respondents 45% in Romania see
In conclusion, understanding Learning
that there is a very high gap in capabilities
is very important to approx. 43% of
while globally the share 38%.
Romanian respondents according to the
findings, similarly globally with nearly 44%.

31
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

9. Digital HR
Revolution, not evolution

The current trend of digitalization had 9% of respondents only have a good


The digital world changes how people
and continues to have an effect in both understanding. Yet, 36% of HR and
live, work and also how companies are
our professional and personal life. If some business leaders believe in Romania
conducted or formed. Today there are
years ago we used to keep in touch with they have a fair understanding but there
around 7 billion devices in the world.
our friends through traditional means such is a difference of 20 percentage points
More than 40% of the traffic is driven
as sending letters, this has been replaced between Romania and CEE when it comes
by these devices but despite this, fewer
to modern techniques, such as a use of to a good understanding of best in class
than 20% of the companies develop and
a mobile phone through the calls, SMS in digital HR.
deploy HR solutions on mobile apps. The
functions or via internet channels. This
barriers between work and personal life Interestingly, when asked what the state
digital era has an impact not only on the
are dissolving because of mobile devices of the organizations digital HR capability
way we communicate with people, but to
as they become the channel of preference is, Global respondents in a relatively equal
most of the aspects of our life, the way we
for workers. Organizations now have the share, 34% reported currently revamping
spend our money, the way we spend our
opportunity to drive adoption of mobile HR and 33% considering changes. One in ten
time, the way we entertain ourselves, the
technologies. organizations have updated in the past
way we gather out information being just
a few examples. The shift from offline to In Romania, 27% of respondents eighteen months their digital HR capability
online has made us digital consumers and reported a very good understanding of across the regions, namely Global, CEE and
it is gaining a greater importance each year. Digital HR. In contrast to other regions, Romania.

Figure 13 - Understanding Digital HR and State of Digital HR capability in Romania, CEE and Global

a. Understanding Digital HR b. State of Digital HR capability


How is Digital HR trend understood in Romania compared to CEE What is the current state of the organizations Digital HR
subregion and Global region? capability?

100% 2% 3% 100%
9% 14% 13%
90% 90%
27% 23%
26%
80% 80% 27%

70% 70% 36%


34%

60% 31% 60%


33%
50% 36%
50%

40% 40%
Very good understanding 55% 33% Updated in the past 18 months
30% 9% 29% 30% 39%
Good understanding Currently revamping
20% 29% 20%
Fair understanding Considering changes
27% 14%
10% 10% No plans to review
15%
Poor understanding 6%
9%
9% 6%
0% 4% Not applicable
0% Not sure
Romania CEE Global
Romania CEE Global

32
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

More than half of Romanian organizations while globally the share is nearly 14%. as very important. In contrast, 20% of
are considering changes in the Just 9% from all organizations in Romania respondents globally view Digital HR as
organizations digital HR capability which updated in past 18 months the digital HR merely somewhat important, compared
is the highest share from all the regions. capability. to 11% of Romanian respondents. In
But in contrast only 27% are currently Romania, only 36% of organizations
revamping the organizations digital In conclusion, Digital HR is rated
consider they are ready to tackle the
capability whereby in CEE, the share is very important by 30% of Romanian
challenges of Digital HR trend. However
up to 36%. No respondent in Romania respondents. Globally, a similar share
nearly 45% of Romanian organizations
reported that there are no plans to review of respondents (32%) view Digital HR
have a very high gap in capabilities while
globally the share of organizations is lower,
close to 40%.

Table 2- Differences between current HR service delivery models and digital HR

Current HR delivery Digital HR


Transaction and processes Integrated HR platform (policy, process, systems, operations)

System with web browsers Mobile-rst apps

Paper-based forms moved to web forms Digital design

Process-based design Human-centered, experience-driven design

SLAs (service level agreements) Real-time (once and done)

HR (and shared) service centers Operations centers

Periodic reports Real-time interactive dashboards

Analytics add-ons Integrated analytics platform and dashboards

33
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

10. The Gig Economy


Distraction or disruption?

Gig Economy is becoming a new world Three years ago, Deloitte introduced the contracted and part time employees in
of work, but what does is actually concept of the open talent economy, the coming year as compared to past year.
represents? It reflects a shift from more predicting new labor models-on and off the Interestingly, nearly 17% of Romanian
stable, long term jobs to short-term jobs, balance sheet- would become increasingly respondents reported that they increased
entrepreneurship. If you ask the average important sources of talent . Today they significantly, the highest share among the
25 years old people what is their ideal job, are. regions, with the lowest share represented
most of them probably will respond that by Global, just 8%. More than half of
The Gig Economy can be explained as
they want to have their own company, the respondents in Romania reported
the increased use of contingent freelance
rather than working the same employer that there is an increase in the plans
workers to the growing role of robotics
until they retire. People have started to for the use of contingent, outsourced,
and smart machines . There is no simple
be self-employed rather than working for contracted and part time employees while
formula to help companies understand
an organization. Lets take as an example no respondents reported a decrease or
and figure out an optimal mix of talent,
the expansion of Uber around the world. significant decrease, in contrast to Global
skills and type of worker but it is the
It created more flexibility to the drivers respondents where 11% have reported a
responsibility of the organizations to
who preferred working during their free decrease and 4% a significant decrease.
understand and take control of this trend.
time, or starting / ending at the hour they When asked to assess their organization
prefer, rather than being restricted to In the survey, the executives and HR in terms of its ability to leverage part-time
fixed working hours if working for a taxi leaders were asked about plans in their and contingent workers, more than half
company. organization to use contingent, outsourced, of Romanian respondents reported
somewhat able and just 8% not at all able.

Figure 14 Plans for the use of contingent, outsourced, contracted and part time employees in the coming year as compared
to past year
What are the plans of your organization for the use of contingent, outsourced, contracted and part time employees in the coming year as
compared to past year?

Romania 25% 58% 17%

CEE 8% 9% 28% 42% 13%

Global 8% 4% 11% 37% 32% 8%

%
0 10 20 30 40 50 60 70 80 90 100

Increase signicantly Decrease


Increase Decrease signicantly
No change Not applicable

34
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

In conclusion, 28% of Romanian and Global


The respondents were also asked how the automation efforts while as high as 22% of
respondents consider Gig Economy as
automation will impact the staffing levels respondents in CEE plan significant growth.
very important while 45% consider the
in the next 1-3 years and in Romania 58% In Romania, 8% of the respondents plan
trend as important compared to 42%
of the executives and HR leaders reported no growth compared to 15% of Global
of respondents globally. However, just
that it will result in a decrease in overall respondents.
4% of Romanian organizations are very
staffing levels. By comparison globally,
ready to respond to challenges posed
only 37% percent answered that it will The survey also asked the executives
by this trend while globally the share is
result in a decrease in overall staffing level and HR leaders about barriers to using
significantly higher, 13%. Thus, 13% of
while in CEE 35%. But when asked about part-time and contingent talent. The
organizations in Romania consider they
plans relative to automation, including results revealed that the highest share of
have a very high gap in capabilities to
robotics and cognitive technologies, in respondents reported as a barrier the
address the implications of Gig Economy
Romania, most of the respondents (42%) perceived legal and regulatory uncertainty
on their organization compared to 17% of
have reported only moderate plans in and just 10% reported the lack of
the Global organizations.
automation efforts in the next 1-3 years leadership understanding. The situation is
while globally just 25% . Moreover, just 8% similar in CEE with 22%.
of Romanian respondents plan significant

Chapter note
4
Global Human Capital Trends 2016
5
The seven areas from which the respondents had to choose from are: recruiting and sourcing, retention and attrition prediction, workforce planning, compensation, benefits, performance management, career
pathing and succession management.

35
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Methodology
Understanding Business and Talent
Figure 15 - Understanding business and talent in Romania in comparison with CEE and Global statistics
How is business and talent understood in Romania compared to CEE subregion and Global region?

a. General outlook for business b. Business Cycle


What is the general outlook for business? What is the current state of Business Cycle?
% %

55 55
54
51
50
50 50 47

46
45 45

40 39 40

35 35
31
30 30 29
28

25 25
23 23
21 21 20 Turnaround
20 20
15
Updated in the past 18 months Steady but slowing growth
15 15
13 12
Currently revamping Start up
10 10 9 9
8
Considering changes Restructuring
5 6
8 No plans to review 5 6 6 7 Rapid growth
3 4 3 4 4
2
0 Not applicable 0 Decline
Romania CEE Global Romania CEE Global

Our respondents are coming from a large number of


c. Plans to invest in HR in the next 12-18 months
companies. We highlighted the main characteristics of
Is your organization planning to invest in HR in the next 12-18 months?
the companies in our sample in Figure 15. Most of the
%
organizations interviewed experienced a growth of the
business between 1% to 10% compared to 2014. For
55 Romania:
50 - 51% of the answers are from businesses with a positive
45
growth under 10% compared to 2014
42 - 23% of the answers are from businesses with similar
40 54 growth as in 2014
3635
35 34 - 23% are coming from companies with greater that 10%
growth compared to 2014.
30

25 Most of the companies of this survey faced a steady but


Signicantly increase (more than 5%)
20
20 slowing growth in terms of Business Cycle and only one
Increase (1-5%) fourth experienced a rapid growth. Moreover, in Romania,
15
14 13 13 Remain the same (0%) 54% of total respondents are coming from companies with
10 1% to 5% increase in their investment in HR in the next 12-
Decrease (1-5%)
5 Signicantly decrease (more than 5%)
18 months while in CEE only 42% are planning to raise the
6 6 6 6
4
33 23 budget for HR in this period.
0 Not applicable
Romania CEE Global
36
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Figure 16 - Understanding business and talent in Romania by industry A full picture of companies in Romania,
How is business and talent understood in Romania compared to the different industries? which responded to our survey is
presented in Figure 15. It highlights the
a. General outlook for business differences between industries and shows
What is the general outlook for business? that the highest percentage of companies
with the overall business growth with 1%
to 10% higher than in 2014 were coming
Consumer Business 17% 37% 16%
mainly from Consumer Business and
Financial Services. While looking at the plan
Energy & Resources 20% 40% 20% 20%
to invest in HR in the next 12 to 18 months
in Romanian companies participating to
Financial Services 25% 63% 12%
our survey, responded that the investment
in HR will increase with more than 5% in the
Technology, Media and 25% 25% 50%
Telecomunications next year is in the Financial Services Sector
Others
(25%).
17% 50% 33%

%
0 10 20 30 40 50 60 70 80 90 100

Greater than 10% growth Between -1% to -10% growth


compared to 2014 compared to 2014
Between 1% to 10% growth Less than -10% growth
compared to 2014 compared to 2014

Similar growth compared to 2014

b. Business Cycle
What is the current state of Business Cycle?

Consumer Business 25% 8% 58% 9%

Energy & Resources 20% 80%

Financial Services 25% 12% 63%

Technology, Media and 50% 50%


Telecomunications

Others 17% 50% 17% 16%

%
0 10 20 30 40 50 60 70 80 90 100

c. Plans to invest in HR in the next 12-18 months Turnaround Restructuring


Is your organization planning to invest in HR in the next 12-18 months? Steady but slowing growth Rapid growth
Start up Decline

Consumer Business 17% 50% 17% 8% 8%

Energy & Resources 80% 20%

Financial Services 25% 50% 25%

Technology, Media and 50% 25% 25%


Telecomunications

Others 17% 50% 33%

%
0 10 20 30 40 50 60 70 80 90 100

Signicantly increase Decrease (1-5%)


(more than 5%)
Increase (1-5%) Signicantly decrease
(more than 5%)
Remain the same (0%) Not applicable
37
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Respondents Demographics for


Romania
Our Global Survey includes data from 7,096 business and HR leaders
Our CEE Survey includes data from 322 business and HR leaders
Our Romania Survey includes data from 47 business and HR leaders

Figure 17 - Industry Figure 18 - Organization size

15%
Consumer Business 29%
30%
36%
Financial Services Large (10001+)
14%
Energy & Resources Medium (1001 to 10000)

Tehnology, Media and Telecommunications Small (1 to 1000)

15% Others
26%
45%

Figure 19 - Respondent level Figure 20- Respondent job function

20%

34%

C-suite
17%
HR
Individual, Contributor
66% Non-HR
Mid-level
63%

38
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Final remarks
Engagement took the top spot on the agenda of HR and business leaders in Romania,
followed by Organizational Design and HR skills improvement.
None of the Romanian organizations view their organizations as having a very good
understanding of best practices in organizational structure.
Changing competition and talent markets are driving change to the current culture of
the Romanian organizations.
Romanian organizations understand better Culture than other regions (CEE and
Global).
Romania seems to be more prepared in terms of People Analytics trend than the CEE.
The highest gap in capabilities in Romanian companies is in the HR skills, Digital HR,
Design Thinking and Learning.
Romania has a low gap in capabilities in terms of Leadership Awakened among the
regions analyzed.
Romania has a very high capability gap regarding the Engagement of different
generations.
The organizations in Romania have highly engaged executives.
Organizations now have the opportunity to drive adoption of mobile HR technologies.
More than half of the executives in Romania believe that automation will result in a
decrease in overall staffing level.
39
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

References
1. PR Newswire, Deloitte survey: Americans look at their smartphones in the aggregate more than 8 billion times daily, December 9, 2015, www.prnewswire.com/
news-releases/deloittesurvey- Americans-look-at-their-smartphones in- the-aggregate-more-than-8-billion-timesdaily- 300190192.html

2. Deloitte, Global mobile consumer survey: Rise of the always-connected consumer, 2015, www2. deloitte.com/us/en/pages/technology-mediaand-
telecommunications/articles/global-mobileconsumer- survey-us-edition.html.

3. Design thinking has been one of the most discussed topics in business over the past year. For example, see Jon Kolko, Design thinking comes of age, Harvard
Business Review, September 2015, https://hbr.org/2015/09/design-thinkingcomes- of-age.

4. Jason Dorrier, There are 7 billion mobile devices on earth, almost one for each person, Singularity

Hub, Singularity University, February 18, 2014, http://singularityhub.com/2014/02/18/ there-are-7-billion-mobile-devices-on-earthalmost- one-for-each-person.

5. Mary Meeker, Internet trends 2015, Kleiner Perkins Caufield Byers, 2015, http://www.kpcb. com/internet trends.

6. Katherine Jones and Sally-Ann Cooke, Smartphone support in talent and HR applications 2015, Bersin by Deloitte, 2015, http://bersinone.bersin.com/resources/
research/?docid=18536.

40
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

List of figures
Figure 1 - Top Global and Romanian trends by importance and urgency 08

Figure 2 Understanding Engagement in Romania in comparison with CEE and Global statistics 12

Figure 3 - Understanding Organizational Design in Romania in comparison with CEE and Global data 15

Figure 4 Understanding Changing skills in HR in Romania, CEE and Global 18

Figure 5 - Career path for HR professionals in the company 19

Figure 6 - Companys understanding and focus on Culture as a strategy for performance and talent management 20

Figure 7 - Functional areas that practice design thinking in Romania 21

Figure 8 - Understanding the best in class thinking 22

Figure 9 Understanding Leadership


25

Figure 10 - Understanding people analytics in Romania, CEE and Global 27

Figure 11 - Areas where HR analytics is used


28

Figure 12 - Understanding Learning in Romania in comparison with CEE and Globe 30

Figure 13 - Understanding Digital HR in Romania, CEE and Global 32

Figure 14 Plans for the use of contingent, outsourced, contracted and part time employees in the coming year as compared to past year 34

Figure 15 - Understanding business and talent in Romania in comparison with CEE and Global statistics 36

Figure 16 - Understanding business and talent in Romania by industry 37

Figure 17 - Industry
38

Figure 18 -
Organization size
38

Figure 19 - Respondent level


38

Figure 20 - Respondent job function


38

41
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Contributions and
acknowledgements
Global Human Capital Trends 2016 is the We take this opportunity to acknowledge
result of the efforts of Bersin by Deloitte the help and contribution of Bersin by
research team, a global team working Deloitte research team. Based on this
over the past 12 months and Julie May Global Report, Romanian Companies
who guided and directed Global Human have the chance to adapt their strategies
Capital Trends throughout the year, and goals for Human Capital in 2016 in
including hundreds of contributors from accordance with the Global and CEE best
across the global Deloitte network as well practices.
as the input of our clients. The country report was prepared under
Human Capital Trends 2016 for Romania the direct oversight of Oana Petrescu
was developed based on the data - Partner-in-Charge of the Consulting
collected and presented in the Global Practice and Doina Patrubani Director
Human Capital Trends 2016. The aim of the Consulting Practice. Andreea
of this country report is to highlight the Gherghina led the core team as Lead
main trends for Romania compared to Manager, supported by Hanaan Yaseen,
Global and CEE ones and to evaluate the Anemari Bentu and Radu Dolghi as
alignment between Romanian, CEE and Consultants in our data-driven research
Global Trends for Human Capital. group.

42
Human Capital Trends | Global HR Trends for 2016 with a Romanian twist

Meet the team

Doina Patrubani-Voicu
Director Consulting
dopatrubani@deloittece.com
+40212221661

Florentina Munteanu
Attorney-at-Law
fmunteanu@reff-associates.ro
+40730077934

Raluca Bontas
Director Tax
rbontas@deloittece.com
+40730077921

43
This publication contains general information only, and none of Deloitte Touche
Tohmatsu Limited, its member firms, or their related entities (collectively, the
Deloitte Network) is, by means of this publication, rendering professional advice
or services. Before making any decision or taking any action that may affect your
finances or your business, you should consult a qualified professional adviser.
No entity in the Deloitte Network shall be responsible for any loss whatsoever
sustained by any person who relies on this publication.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private


company limited by guarantee, and its network of member firms, each of which is
a legally separate and independent entity. Please see www.deloitte.com/ro/about
for a detailed description of the legal structure of Deloitte Touche Tohmatsu
Limited and its member firms.

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matters.

2016 Deloitte Romania

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