Payroll market to exceed €10 million in 2008

The Romanian human resource market is presently unspecialized, and companies offer a wide range of services, from recruiting and headhunting to personal leasing and payroll. According to experts, the payroll service market makes up some 15 percent of HR services. In 2008 the total value of the HR market will exceed €100 mln.

“The Western European payroll market makes up some 60 percent of human resource services. Romanian companies are not yet convinced about the efficiency of externalized payroll services, meaning that very few make use of this solution,” said Madalina Borsos, Country Manager for Elanor Solutions, one of the few payroll companies.

Payroll is a new and unknown product for Romanian companies, who fear costs.
“The truth is that costs are greatly reduced by working with a specialized payroll company, with the quality of service much higher, and responsibility assumed at 100 percent”, Borsos added.

The main advantages of externalized services are low costs, confidentiality and assuming risks.

Cristina Savuica, Managing Partner of Lugera&Makler, one of the top three companies on the market, estimates an important increase for the coming 3-5 years.