Czech Companies Consider Well-Being, Data and Experience the Main Human Capital Trends
Prague, 4 April 2018 – Czech firms find employee well-being to be of the greatest importance (92%). Nevertheless, only 57% of respondents believe that their firm is ready for it. These are the conclusions of Deloitte’s latest Global Human Capital Trends report. The survey included over 11,000 respondents across 124 countries worldwide, including the Czech Republic.
“In recent years, more and more focus has been placed on well-being. This is, among others, owing to the current low unemployment rate and the generation of millennials entering the workforce. Employees as well as job applicants not only show greater interest in how the employer approaches all components of employee well-being but they also actively seek such treatment. Flexible working hours enabling a better work-life balance have become almost a matter of fact,” says Barbora Černíková, a Deloitte learning specialist and organiser of the Happiness at Work conference.
As the survey shows, well-being (which places fourth in global terms) is followed by the issue of people data and the perception of related risks (85%). In this regard, Czech results correspondent with the global ones. The third trend, both in the Czech Republic and worldwide, is a shift from building a career towards gaining experience (84%). Nevertheless, half of respondents said their organisations were not very effective and efficient in enabling people to manage their careers. Additionally, the top 5 trends in the Czech Republic included personalised and agile rewards (80%) and artificial intelligence, automation and robotics (78%), the latter, in fact, ranking eighth in global terms.
Czech respondents primarily included representatives of small firms of up to 1,000 employees (45%). Medium-sized companies of up to 10,000 employees accounted for 36% and large companies of over 10,000 employees for 19%. Almost two thirds of answers were given by middle management (61%), with top management accounting for 19% of Czech respondents.
The survey’s findings show that trends shift towards focus on an individual, placing emphasis on the quality of internal and external relations within the firm. The key topic for companies is a shift from the company’s internal focus to the external ecosystem. Firms are evaluated based on the quality of their relations with employees, customers, communities and regulators. If the firm is to preserve its reputation, which is vital for recruitment, and retain its key employees as well as loyal customers, it must cultivate these relations.
“Companies must talk to the outside world, actively manage their involvement and how they communicate about themselves, and invest in the ecosystem by treating all their employees fairly, creating a working environment that not only promotes career-building but also employee well-being,” says Pavel Šimák, leader of Deloitte’s Human Capital Advisory Services and Global Shared Business Services.
The survey also shows that 96% of Czech firms are planning growth in 2018, 58% of which to a greater degree than in 2017. In the next 12-18 months, 36% of Czech firms are planning on increasing their investments in HR.
To download the 2018 Global Human Capital Trends report follow this link.