Romania: the outsourcing valley of Europe17 Sep 2019
People say that Romania is like its wine.
You don’t realize how wonderful it is until you’ve tasted it.
That has definitely been the case for key global business players over the last few years as they discovered, tested and invested in the country’s unique, task-oriented and deeply skilled talent pool, which has a refreshing Latin flair for creativity and the courage to embrace new technologies, cultures and pioneering employers.
Now, that description of the talent base sounds very nice. But, of course, the pool’s qualities would be completely neutralized if it weren’t for equally courageous investment in real estate and diverse education that has provided a constant flow of high-end talent into state-of-the-art office buildings throughout Bucharest and Romania’s other major cities, including Cluj Napoca, Timisoara and Iasi. As result, Romania is becoming known as the outsourcing valley of Europe.
Each majestic scene of cranes across a skyline is a testament to Romania’s aforementioned qualities – but also a constant reminder of the need to continue to healthily and sustainably raise the proverbial bar in unison with new investors’ rising expectations.
As people discovered a few years ago about its wine, Romania is no longer a nice, quirky surprise. It’s the very calculated and value-added choice for companies seeking serious business performance in global outsourcing, business process outsourcing (BPO) and automotive manufacturing.
Like many things in life, the Romanian corporate landscape and its people have inherited certain traits and cultures, particularly in relation to the country’s incredible diversity, which has culminated with a business community heavily composed of key Austrian, German, Turkish, French, Greek and British companies – and, more recently, household-name American firms, including Microsoft, IBM, Kellogg’s and Oracle, etc.
The Romanian people’s natural curiosity and welcome approach to tourists and investors alike provide a solid platform for integration and healthy, speedy starts for organisations big and small arriving here. Romania’s goodwill extends to meeting the needs of ex-pats, particularly executives’ spouses and children who require support along with quality housing and education.
Speaking of starts, startup firms are generating big buzz across Romania. Startups are inspired by young Romanians’ incredible technical abilities. Many organisations frequently tap into the country’s large millennial talent pool in their ongoing push to innovate and stay one step ahead of the competition. Young experts can quite often be found in the many co-working spaces scattered around the city.
Getting back to our wine analogy, Romania’s business community is definitely maturing nicely. Its continental flavours are distinct and diverse. Meanwhile, more organisations are hearing about it – and definitely want a taste for themselves.
(Colin Lovering is a senior vice-president of enterprise solutions and advisory services in Avison Young’s Bucharest office.)