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Relocating to Cyprus: The Human Factor

Relocating to Cyprus: The Human Factor

Two years ago, Parimatch, an international holding company with offices in seven countries, decided to transfer its Head office to Limassol.

Relocate your employee wisely. HR team in the expansion process.

Deciding to expand a business to international markets is both exciting and intimidating. This process requires extensive resources, and sometimes it is hard to accomplish great results in short terms.

Parimatch is an international Holding with land-based offices in seven countries around the world. Two years ago we relocated our Head office and some of the key employees to Limassol, Cyprus within three months.

The brightest ideas and the best business plans can fail if a company doesn`t have people or the employees aren`t motivated and satisfied. That is why Parimatch has a deep conviction that the HR Manager is the second most important person after a domestic executive partner or general manager in the process of launching a new foreign office. Moreover, the HR Manager should be native to the country where the office opens in and should have vast experience. It is essential to find one while forming a local team.

Of course, recruiting can be done remotely using agencies. The purpose is not only to recruit but also to retain the company's most important asset – people. Indeed, that is a job for a professional and reputable HR Manager.

The HR Manager creates an HR team, which plays a role of the fair judge between the employee and the organization so both could benefit. When native to the region, the HR team becomes essential during the relocation of employees from another country. All organizational questions (taxes, place to live, medicine, etc.) can only be answered by a person who is native to the region. Local HR team helps to solve these issues for the employees, so they can freely engage into the working process as soon as possible.

Parimatch is a reliable employer who invests in their people and creates comfortable conditions for them. We have already established our own "world" in one of the business centers in Limassol, where the relocated employees and the local specialists work comfortably side-by-side. We have created a unique culture where it is easy to develop, share experiences and create new assets. Now we can state that if we had not formed the local HR team first, we would have been ten steps back from where we are now.

While relocating employees, you should take into account that changing a place of residence even because of a highly paid work, is always a risk and a doubt for a person. Therefore, if an employee is of high importance for the company you should provide more care, show your concern, give something that is worth changing life and foundations. Money is not always the best motivation.

The other important mission of the HR team is to adopt cultures, manage them and create a comfortable environment for everyone. It is a great challenge to unite people from different cultures with different mentalities into a productive and successful team! It is the primary challenge for the HR team in conditions of global mobility.

Having decided to move our Head office to Cyprus, we`ve managed our policies according to the legal environment of the region, obtained a license and stick to our responsibilities before the government and society.

Parimatch contributes to the local communities through our CSR activities. We have already held activities helping local schools and charity funds (Sophia Foundation, "Let's Hippo" project, visited Iacovou Swimming Centre). We contribute to sports. Parimatch is the main partner of the local FC APOEL and the sponsor of the new training center Parimatch - Archangelos.

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