The Eastern European economy is evolving at a rapid pace. The diverse region presents both opportunities and challenges for commerce. A common challenge for many organisations is finding and retaining local talent.
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Local Economy
While countries like Romania, Bulgaria and Latvia have experienced significant economic development, Poland continues to emerge as one of the more dominant forces from an HR talent and development perspective. Many businesses view the region as a strong contender for key business opportunities due to both the value and cost benefits gained from leveraging talent in the local market.
Local Talent
While Poland has a more mature talent pool, HR talent across other Eastern European countries is also developing at a rapid rate. The continued development of HR specialists has led to the emergence of increasingly sophisticated COEs across the Learning, Talent and Rewards functions. There are an increasing number of leaders in ChapmanCG’s HR network that are in both global leadership and global expertise roles across the region.
Building a Leadership Pipeline
The increase of international organisations into Eastern Europe has given local talent a unique set of experiences that make them a highly sought-after talent pool with non-HR exposure to the international elements of the business. The increase in strong leadership with non-HR backgrounds moving into HR operational roles has further added to this pollination of talent into HR.
Organisations are also considering shifting hub locations to the region and will use a blend of local and non-local talent in leadership roles. In the long term, more Eastern Europeans are expected to hold critical leadership roles within both HR and the business. Additionally, migration to and from the region is likely to increase, which means this trend is likely to evolve and expand.
The Future
The future is certainly bright in Eastern Europe. The region is developing a strong global reputation with an increasingly sophisticated, motivated and innovative workforce offering an excellent competitive advantage supported by a competitive time-zone.
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