Why global financial hubs have become a Polish success story

Poland has become a major location for the outsourcing of financial functions from corporations around the world. What is the impact of these investments on the Polish skills market? Does the training and recruitment of financial specialists match the demand for their skills? For AstraZeneca the answer is clear.

AstraZeneca (AZ) is a global, science-led, patient-focused pharmaceutical company, dedicated to transforming the future of healthcare by unlocking the power of what science can do for people, society and the planet. By 2030 AZ aims to double its revenues by launching 20 new medicines.

An excellent operating model is a key element in achieving this bold ambition; and centralising and outsourcing different services is one of its critical elements. AZ recognised the potential of the Polish labour market a long time ago and decided to select Poland as one of the strategic location for outsourcing services, including financial functions. Since 2018 we have in Warsaw our EMEA Middle Office for Global Finance Services (GFS), where we employ more than 300 employees who perform advanced finance activities (such as closing the books, managerial and statutory reporting, planning, tax returns) that require high levels of expertise.

To attract young talents, we are partnering with several Polish universities in three diverse ways. First, we have an established dedicated Employer Branding Team. We work closely with selected universities in Poland, representing AZ in recruitment events across the country. We also offer several opportunities specifically tailored to our young generation.

These include three-month Summer Internships, during which candidates have the opportunity to join one of our teams while completing their studies and gain the first working experience of their career. On these short-term assignments, students support one of our functions and work on a number of pre-agreed projects and initiatives that will support the individual’s personal development while adding value to the organisation. We also offer our career starters opportunities dedicated to students finalising their master’s degree or newly graduates. These are one-year contracts, and at the end, the candidates have the chance to join one of our teams as business analysts and continue their professional journey with AZ.

Polish universities are an excellent source of talent for AZ.  In addition, Poland has a powerful presence of globally recognized financial associations like CGMA or ACCA, which provides us with an additional pool of talent. Therefore, recruiting financial experts is relatively easy for AZ in Poland. However, our employees must possess a very broad set of skills to successfully perform the advanced tasks of the Middle Office. Apart from core financial technical skills, our employees in GFS EMEA Middle Office need to understand our business. They should also be able to demonstrate leadership skills. Digital skills are also becoming critical.

AZ has been investing a lot in learning and development (L&D) to ensure that our employees can develop all the skills they need to be successful in their roles.

Our L&D strategy is built on three pillars: 3E. The first ‘e’ is exposure, which is about being part of different communities/working groups (e.g., well-being, D&I, projects, etc…). Here, we also have coaching and mentoring. The second ‘e’ is experience; by this, we simply mean learning by doing.

The last ‘e’ is education, which is about providing relevant training. Every month, we organise voluntary training for all employees on soft skills, such as presentation skills or assertiveness, based on the current demand collected via surveys. The sessions focus on soft skills, such as presentation skills, coaching skills between peers, effective cross-cultural communication, influencing stakeholders, or assertiveness in challenging situations.

We also have some training sessions dedicated to specific groups of employees. Among them, Professional Skills Pathway is dedicated to non-manager employees, supporting their impact through excellent interpersonal and relationship-building skills. Apart from that, we do have training dedicated to all line managers, like our emerging leaders’ pathway, where we have a module about feedforward and coaching skills in this pathway. Also, other modules cover the topic of soft skills (modules such as managing challenging conversations, performance development & total reward, etc.).  

At AZ, we also embrace digital transformation. We are investing in Digital Upskilling training for our GFS employees to equip them with the skills and capabilities required for the future.

Finally, AZ is providing financial support to all employees who complete one year in the organisation to acquire the ACCA/CIMA qualification.

One of our employees’ tools for developing their skills is the Finance Capabilities Framework, where they can clearly see what competencies they need and how to acquire them. Using this tool, they can assess their current capabilities against a set of 21 vital capabilities identified by finance. In addition, the tool provides complete visibility of the skills (both technical and soft) required for all critical roles in finance. It links them with available training/development opportunities or job vacancies, supporting employees in further development. Therefore, AZ is not only helping its employees perform their current jobs but also ensuring that they have continuing career development opportunities.

For a couple of years in Poland, we have been experiencing the fight for talent. Therefore, it is critical to recruit employees with the required skills or provide them with relevant training to perform the job and have a strategy in place to retain talents.

AstraZenenca has been recognised as a great place to work with multiple awards, like receiving the Top Employer Award for four years in a row, being ranked no.1 in 2023 for LinkedIn Top Companies Polska, or being ranked no.1 in 2022 Forbes Poland’s Best Employers in the pharma category.

Multiple factors are considered during the evaluation process, including very attractive reward packages or development opportunities, an empowering culture, attractive office facilities, and a well-being agenda. Empowerment is deeply embedded in AZ’s culture. Our employees have a lot of freedom to develop proposals and drive things.

The well-being of our employees has always been very high on AZ’s priorities list. We have been providing our employees with training, organizing various workshops for them, inviting external speakers to inspire them, and financing sports activities. In addition, the Well-being Council was established last year with the sponsorship of our Global CFO to create a work environment where people can thrive, feel supported by managers and colleagues, and bring their whole selves to work.

 In addition to these resources, our office has various facilities, like an on-site fitness studio, dedicated spaces for relaxation, and playrooms with video games, tennis, and football tables.

Other initiatives that we offer to our employees include access to free, confidential counseling to guide employees on how to cope with a number of life events, including mental well-being, stress, and burnout.

To sum up, Poland has done an excellent job of training financial experts. However, further investments by the hiring companies are required  to ensure that polish financial experts have a broad enough and evolving set of skills to make them future-proof.