2017 Cyprus Human Capital Trends
Rewriting the rules for the digital age
The 2017 Deloitte Cyprus Human Capital Trends report reflects major changes in the world of local business.
We title this year’s report «Rewriting the rules for the digital age» because a principal characteristic of the new era is not merely change, but change at an accelerating rate, which creates new rules for business and for HR.
This year, we propose a “new set of rules” to make sense of the changing landscape that fundamentally transforms business, the broader economy, and society. These rules reflect the shifts in mind-set and behavior that we believe are required to lead, organize, motivate, manage, and engage the 21st-century workforce. While it is hard to predict which emerging business practices will endure, it is impossible to ignore the need for change. This report is a call to action for HR and business leaders, who must understand the impact of change and develop new rules for people, work, and organizations.
This year’s report confirms this view: both Global and Cyprus respondents rated (88%) the “Organization of the Future” as the most important trend which means that as organizations become more digital, they are shifting from designing (the most important trend in 2016) to actively building the new organization. Furthermore, the participants in local level rated “Employee experience” and “Performance management” in the second and third place respectively, which indicates that more focus is needed on implementing a new approach for managing the performance of human capital and to provide a holistic and positive employee experience, aligned to modern needs.
We hope this report will provide your organization with insights into the key challenges and opportunities for HR in Cyprus.