Smartree launches index to take the pulse of the economy in real time

Last year, salaries in the private sector increased by 4.41% while the number of employment surged by 11%, says the newest Smartree Workforce Index - a summary of the evolution of recruitment, wage growth and well-being of employees.

The value of bonuses awarded by companies was higher by almost 19%, says the study.
The new index will be used by both market analysts to predict and employees to be aware of trends in the economy.

The index developed by Smartree takes into account the actual data obtained from the private sector. These data are anonymous and serve as an indicator of economic health in the context of real-time recording and measurement of changes in the labor market. Thus, Smartree Workforce Index is able to provide an insight to anticipate economic change.

"The purpose of development of the Smartree Index was to have a real-time picture of the economy. In this regard, we would like to be an element of analysis for professionals, because each of the indicators taken into account can be linked directly or indirectly with Romania's macroeconomic developments. We expect that will come to be used by analysts around the market so as to become a reference tool," said Adrian Stanciu, CEO, Smartree.

To achieve the Index, Smartree considers more than 200 companies working in all private industries and businesses with average revenues of over 2.5 billion Euro.

The number of private sector employment, higher by 11% in 2015

According Smartree Workforce Index, wages in the private sector increased by 4.41% last year compared to 2014 and the value of bonuses offered by employers was higher by almost 19%, while the number of personnel was rising approximately 11% over the previous year.
Since economic growth is tied directly proportional hiring pace, it can be concluded from these data that the entire market trend is positive.

And vacations are a key indicator to analyze the state of economy and particularly the welfare of employees. Last year, the number has increased by 11.56% compared to 2014, which may mean, for example, that companies have employed more people.

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Shibu Nambiar has over 18 years of experience in the services industry, covering roles in operations, project management, service delivery, product development, domain management and training.

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