Reaping the Benefits of Cultural Diversity in Cyprus

As the sun-soaked shores of Cyprus become the preferred base for a growing number of multinational companies, the island is turning into a magnet for foreign employees.

Here, two HR Heads and a Talent Acquisition Manager talk about the challenges involved in relocating to Cyprus and the benefits of having a multicultural workforce.

Xenia Panteli, Head of HR, Exness

“One of the biggest and most obvious challenges is finding suitable yet affordable accommodation, especially in Limassol,” says Xenia Panteli, Head of HR at online trading platform Exness. On top of that, incoming professionals often face tedious red tape and a sudden drop in the availability of services. “I think this definitely requires some adaptation, especially for those coming from big European cities,” she says. On the benefits of having a multicultural workforce, Panteli points to the fact that it allows a company to onboard and support clients from different parts of the world, while creating a truly global company that does not have a singular cultural identity. “With a multicultural staff, a company can tap into different mindsets and the unique potential that each brings, enabling out-of-the-box thinking in solving problems and breaking the mould,” she notes. It also leads to acceptance and openness of those from a different culture. “As a result, employees and companies alike learn from one another, broaden their horizons and become better and even happier professionals,” she adds.

Marianna Hadjiandoniou, Group HR Director, GR8 Tech

“The main challenges that foreign employees face when they relocate to Cyprus concern work permits and accommodation,” says Marianna Hadjiandoniou, Group HR Director at gaming solutions platform GR8 Tech. To this end, the ‘Strategy for the Employment of Foreign Labour’ adopted by the Government offers a comprehensive framework for managing foreign labour flows and aims to serve the development needs of the economy, while reducing problems and side effects. GR8 Tech, she mentions, helps not only with work permits but also with things like accommodation, obtaining a driving licence or even buying new furniture. According to Hadjiandoniou, the overall benefit of a culturally heterogeneous enterprise is closely related to how effective human resource management is. So, the advantage that it confers is an ongoing process, which demonstrates the talents and abilities that a diverse population brings to a business to create a healthy, inclusive environment. “Moreover, by integrating diversity as an asset, we can better prepare as our customers become more diverse,” she notes.

Nicoletta Tyllirou, EMEA Talent Acquisition Manager, Amdocs

“People relocating to Cyprus face increased living costs, while there is a lack of accommodation, particularly in Limassol, so they end up looking to rent in the suburbs or even other cities,” says Nicoletta Tyllirou, EMEA Talent Acquisition Manager at software and services provider Amdocs. The lack of schooling options and high tuition fees for private schools compound the issue. Moreover, on top of the time-consuming registration process, spouses of third-country employees struggle to find employment, which leaves only one income per household. To offset these issues, Amdocs has developed an in-house team to support employees before and after their arrival with a full relocation package and allowances. It also celebrates big events and traditions, which have been found to have a hugely positive impact on its employees, and provides in-house Greek language lessons and transport. “As a people-centric company with more than 30 nationalities, cultural diversity sits very high on our agenda,” she stresses. In her experience, bringing together talent from different backgrounds provides business advantages, since varied skillsets, innovative solutions and disruptive ideas can positively influence productivity levels. She also finds it important to be a ‘role model’ company in the market by promoting equality and welcoming applications from all backgrounds. “Empathy is improved and, ultimately, overall employee satisfaction is increased, which puts any multicultural company a step ahead of its competitors,” she says.

This article first appeared in the March issue of GOLD magazine. Click here to view it.