The labour market has had a busy year. No wonder that employers are entering 2024 somewhat exhausted. The unfavourable economic environment has added to the existing workforce challenges. Retention has gained an even greater emphasis, and a lot of companies have responded to the obstacles of the past year with organisational restructuring, alongside wage increases.
Hays Salary Guide 2024 | Recruiting Trends
RECRUITMENT TRENDSThe labour market in Hungary in 2024
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If anything could stand in the way of the 2024 plans, employers say that apart from financial constraints, retaining valuable staff and the shortage of qualified candidates in the market will be the major obstacles.
However, employers remain confident about staffing levels, with the vast majority believing that their companies have the right skills to meet their business objectives this year. Employers have given varying degrees of salary increases despite dwindling business opportunities.
However, while one in three employers gave extra increases in 2023, only just under a fifth of companies were able to do so now. In 2024, more modest wage increase plans will be implemented.
FLEXIBILITY AND PROFESSIONAL DEVELOPMENT IN FOCUS
Among benefits, flexible working is deemed crucial by employees. 57% of workers would not take a job that did not offer any remote or flexible working at all. In terms of job choice, the order of the main deciding factors - beyond salary - has not changed significantly in a year.
The top three are still benefits packages, work-life balance and professional development opportunities. Companies typically develop their employees' skills through various online and offline training and mentoring programmes.
The sole significant difference between employer and employee responses on this topic is that employees are more likely to report that their employer does not invest in their skill development.
GET TO KNOW WHAT SHAPES THE WORLD OF WORK TODAY
The Hays Salary Guide is the most comprehensive analysis of the Hungarian labour market. The guide includes insights of 14 different industries, based on the analysis of our specialised recruitment consultants and survey results of over 2600 employers and professionals across the country.
This publication presents you the latest trends of 14 industries and salary ranges of more than 500 positions.
