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Human Capital: regional challengesa Central European perspective
Edwin De Boeck
Chief Economist KBC Group
KBC in Central Europewell-defined core markets to access ‘new growth’ in Europe
BE¹ CZ SK HU BG
Loans and deposits
Investment funds
Life insurance
Non-life insurance
1. Excluding Centea and Fidea2. Including 55% of the joint venture with CMSS
MARKET SHARE, AS OF END 2012
BELGIUM
CZECH REPSLOVAKIA
HUNGARY
KBC Group’s core marketsBelgium and CEE-4
220% 20%10% 8% 2%
BULGARIA
20%8%30%35%
8%17%
13%3%5%
11%
4%3%6%
9%
Consumer confidence
producer confidence OECD- leading indicators
Central Europegrowth supported by global economic recovery
real GDP (2000 = 100)
Source: Eurostat Source: Eurostat
GDP per capita (PPS, in % of EU1-average)
regional challenges but macro-economic ‘convergence’ has been stalling
employment rate (employed in % of 20-64 years old)
employment rate by age category (employed in % of age group)
Source: Eurostat Source: Eurostat
regional challenges How to increase labour market participation ?
population at active age(20-64 years old, 2000 = 100)
Source: Eurostat Source: Eurostat
old-age dependency ratio (65+ years old as a % of 20-64)
regional challenges ageing will reduce the labour force
keep human capital (longer) at work… effective retirement age (in years)
…and keep it productive (‘employable’) participation to life-long learning
(in % of 20-64 years old)
Source: Eurostat Source: Eurostat
regional challenges keeping human capital at work …and productive
school expectancyexpected years of education over a lifetime
Source: Eurostat Source: Eurostat
regional challengeseducation, education, education…
tertiary education: graduates in maths, science and technology
(in % of all fields)
tax wedge: labour taxes in % of average wage (single individuals)
Source: OECD
regional challengeswatch out for excessive taxes on labour income
OECD (2010):«Cutting the ’tax wedge’ to the OECD-average could raise Hungary’s employment rate by about 4 %-point over a 10-year horizon»
expenditures on R &D(in % of GDP)
net foreign direct investments (in % of GDP)
Source: World Bank Source: Eurostat
regional challenges(re-)activate knowledge transfer through FDI’s
WEF global competitiveness index(ranking on 148 countries)
IMD global competitiveness index(ranking on 60 countries)
regional challengesinternational competitiveness rankings
regional challengesconclusion
Best way to ‘preserve human capital in CE’ is to restore macro-economic convergence of the region by growth supportive economic policies
increase labour participation
watch out for excessive labour taxation (tax wedge)
invest in education and life-long learning
stimulate knowledge transfer and investments in R&D, a.o.through FDI’s
13
awards:Best Bank in Hungary in 2013 Euromoney Awards for Excellence
Bank of the Year in 2008 and 2011
Best Foreign Bank in 2009 and 2010
Best Trade Finance Bankin 2010 and 2011
K&H Bank – overview
KBC is an active professional 100% shareholder of K&H Bank providing stability, liquidity and strong capital base
K&H is one of the market leaders on the Hungarian corporate banking market
universal banking services
country-wide retail and corporate branch network
pioneer in Treasury, Cash management, Trade finance and agricultural solutions, providing tailor-made products
attracting young talentnearly 700 participants in 4 K&H Student Cups
160+ student internships
300+ applicants for the K&H Young Graduate Program
K&H is attractive to talent
external recruitmentavg. 20+ applicants per vacancy
Most attractive employerfor graduates Figyelő Hewitt TOP302010
Most attractive employerfor graduates Figyelő Hewitt TOP302010
fostering internal career moves
about 10% (400) rotates per year
50% vertical
70+% of people management vacancies filled internally
K&H participates in the KBC Top Talent Program
avg. 9 days of training per employee each year, above 95% satisfaction
K&H fosters and develops talents
Best Talent Mentoring System in Hungary2012
Best Talent Mentoring System in Hungary2012
Diversity and family friendlyemployer2013
Diversity and family friendlyemployer2013