Evaluating the Overall Performance of Romanian Listed Companies

The labour market has redefined in recent years and has changed the way employers report to employees. Work flexibility is important in the context in which those who work at the desired hours tend to be more motivated and spend a longer period of time without changing their job, increasing the overall performance of organizations. Flexibility is already beginning to be an omnipresent requirement among new employees and a selection criterion even more important than remuneration. It is not yet a standard, but it is included in the objective of increasing the level of satisfaction of the employees of many companies with strong implications on organizational performance. With such tendencies in the labour market, the paper aims to evaluate the overall organization performance of Romanian companies from both perspectives—financial and non-financial—using a sample of 50 Romanian listed companies at the level of 2018 by building a synthetic measure and to reveal the main groups of companies according to their performance. Thus, the paper aims to identify the main determinants of overall performance of Romanian companies using a mix of financial and non-financial factors using the PCA mix data technique, to evaluate the organizational performance by building a composite index and to highlight the main classes of companies according to their performance using the cluster analysis technique. The empirical results revealed that return on assets, the share of intangible assets in total turnover, added market value, overall solvency or current liquidity are the main financial determinants of Romanian organizational performance, while work flexibility and job satisfaction are the main non-financial determinants. In conclusion, in order to increase organizational performance, the focus should be on implementing elements of work flexibility and also on increasing the level of job satisfaction among employees.