The Aon Hewitt Best Employers Study has been carried out for the last seven years in Bulgaria and is part of a regional initiative involving another nine countries in Central and Eastern Europe. The main purpose of the survey is to measure employee engagement and motivation, along with satisfaction from different drivers of the working environment. Results from the 2012 study show that the average employee engagement rate in Bulgaria increased to 67% from 64% in 2010. The biggest increase was seen in the area of satisfaction with benefits and their correlation with actual employee needs, and in the area measuring sense of accomplishment and recognition in general. Some 52% of all respondents fully agree with the statement: “Overall, my benefit plan (eg commuting, meal, clothes, healthcare, telecommunications) meets my needs well, which is 7 percentage points higher than last year’s results.
Employees praise development opportunities. Not only do they gain useful experience and knowledge doing their job, but also training and opportunities for further education and development that their companies offer. Overall, employee satisfaction with the means being used by companies to attract and retain the right people needed to achieve goals is getting stronger. Employees in Bulgaria are also more satisfied with the balance between their work and personal life. However, compared to the last year’s results, the evaluation by employees of their top management has decreased by 4 percentage points. They don’t consider top management more accessible, visible, open-minded and sincere. They feel that they are not being considered the company’s most valued asset and don`t think that senior leadership uniformly represent the management team’s decisions and lead the company in an effective way. New and big multinationals are investing in Bulgaria. They’re bringing their policies and practices with respect to human resources, which the Bulgarian market is starting to implement very successfully. This is visible when we speak about measuring employee motivations. Ten years ago, this was absolutely unfamiliar for the companies. They would ask what it meant, why they needed to measure it. Now the situation is completely different, and such measurements are done not only by the multinationals but by Bulgarian companies as well. And the good news is that they are ranked among the “Best Employers” as well, which is welcome feedback for the Bulgarian employer in general.Employers in Bulgaria look after their employees. It’s important for them to offer good working conditions so that they feel motivated to exert extra effort for better company results. Lastly, the favourable tax conditions in Bulgaria make it an interesting country for foreign investors. No change in this 10% corporate tax is expected for now. However we’re in a difficult times. There are strikes and negative feelings among Bulgarians towards the new parliament. In general, Bulgaria has a well-trained and educated workforce with language expertise. There are 51 universities in 6 different locations in Bulgaria: Sofia, Plovdiv, Bourgas, Varna, Blagoevgrad, Veliko Tarnovo. More than 40% of the country’s population is university-educated, with an average of about 285,000 university graduates every year. More than 10,000 scientists employed in the country hold Ph.D. degrees. Bulgarian IT professionals are well-educated and recognized globally. That’s why employees working in these companies are very well-motivated, and employers offer many incentives to retain them and develop them within the company. Elsewhere, there is a trend for young people from other isectors (automotive engineers, doctors, lawyers, and teachers) to leave the country.
Best Employers Bulgaria 2012
- Glaxo SmothKline EOOD
- AstraZeneca Bulgaria
- AE S Galabovo
- Schneider Electric Bulgaria, Plovdiv FDM Plant
- SAP Labs Bulgaria
Published in the hard-copy of Work Style Magazine, Fall 2013