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Hungary: strategies for growth will ensure success for leaders and jobseekers
The pandemic and war in Ukraine have led to cost pressures that have triggered demand for high wages, in turn contributing to a very competitive candidate market. Companies are trying to outdo each other to attract the limited number of jobseekers with significantly higher salaries, better benefits packages, and flexible working. Professionals have higher expectations for their working lives now. No longer satisfied with just a competitive salary, those prepared to leave a secure role and take the leap into the unknown demand proper compensation in the form of benefits, bonuses, opportunities to work from home, career progression and job security. Culture reset To ensure continued prosperity, employers should embrace requirements from jobseekers, where possible – essentially putting people before profit. There are several ways business leaders can make their company more attractive. Improving employer branding is a must – consider whether your company’s image truly reflects its ethos – is it modern, inclusive, welcoming, forward-thinking, and does it have a great employee value proposition? Examine what people are saying about the company online – are negative reviews being investigated or ignored? Is there high turnover in some departments – why is this? Are regular staff satisfaction surveys being carried out and acted upon?Think benefitsReed carried out a survey of 298 workers in Hungary at the end of 2022, which revealed some surprising disparities between what employees are receiving as benefits, and what they actually want. For example, an annual salary increase (58%) was unsurprisingly top of the list of desires as the cost of living soars, followed by an SZÉP fringe benefits card (55%) and flexible hours (54%). Yet, what respondents currently receive differs significantly: an SZÉP card (37%), computer usage (32%), and performance bonus (20%) ranked highest – while flexi hours (18%) and annual salary increase (14%) fell in fourth and fifth place.Bosses in Hungary should also be more open to remote working options for professionals based outside cities, by offering more home office options. Our survey highlighted 69% of respondents would prefer a hybrid working style, while 24% would like fully remote work.Recruitment strategiesHigh demand for professionals is pushing employers to rethink their expectations, with many more open to hiring inexperienced people with specific soft skills, then training them to fit the company’s needs. Refined and reduced recruitment and selection processes have been key to acquiring new talent, along with an awareness of changing market trends – this will continue in 2023. Experienced recruitment consultants can help employers with this, advising business leaders about the changing labour market, and able to contact key professionals who may not be actively looking for new opportunities, but open to suggestions.Another option to consider is temporary recruitment, which is becoming more popular as it gives employees flexibility and allows companies to test professionals before committing to a permanent offer.Above all, employees want to feel appreciated and valued for their work, and properly rewarded in these challenging times.Get the Hungary salary guide 2023Reed’s salary guide for Hungary explores the changes, key trends and predictions across the most popular and emerging roles in the country – download our free 2023 Hungary salary guide now. It can be used to inform policies, practices, and decisions about career next-steps, and as a tool to calculate salaries for the coming year and beyond across a range of sectors.
Reed’s Hungary salary guide 2023
Use our salary guides to compare the average salary in Hungary by sector - a resource for both employers and employees.Our 2023 salary guide looks at average salaries in Hungary and benefits across six sectors. The guide uses data from jobs posted in Hungary to outline key trends and insights, enabling you to benchmark average pay for your employees, find out what to aim for in a new role, or what your current one should be offering. Download our free guide now to compare average salaries and benefits across Hungary. This year the landscape looks uncertain as many EU countries battle rising inflation. As well as this, Hungary is experiencing high demand for workers, while trying to re-establish more normality after the Covid-19 pandemic. It’s more important than ever in this candidate-driven market to check your salaries and benchmark against your competition to ensure you can attract and retain the right professionals. Using data from jobs posted by Reed, our 2023 Hungary salary guide is the ultimate salary checker. By using our guide to inform your average salary, you’ll understand what jobs are worth across the country, helping your organisation stand out from the crowd when hiring, or when looking for a new position. Who is this salary guide for? Whether you’re looking for guidance on what your current salary should be, what you could earn if you moved into a new role, or whether you are paying your workforce a competitive rate, our salary guide allow you to compare salaries across Hungary – from accountancy and finance jobs through to the latest technology roles. Employers: looking for benchmarking advice? You can use our salary guides to compare pay and benefits, allowing you to ensure your remuneration packages are up to date and competitive. It’s vital to stay ahead of the game as failure to do so could leave job application numbers low and your competition thriving. Professionals: wondering what you should be earning? Use our 2023 Hungarian salary guide to understand your worth, help you decide on a new job you have been offered, or plan for your next step on the career ladder. Could you earn more by switching sectors? Cost of living: Hungary salaries vs inflation “As we enter 2023 the outlook looks uncertain with the exponential rise in inflation and increasing cost of living. However, we should remain optimistic, think ahead, and prepare for what’s next. The workforce across Europe has significantly shrunk – the reasons for this are quite complex, but factors include the ongoing impact of the pandemic, the rise in inflation and cost of living, and skills gaps across a number of sectors. The cost of living continues to rise at pace, partly due to the war in Ukraine, causing energy and food prices to continue to climb, leaving many people struggling. Because of this, wages have never been more in the spotlight than they are right now" - James Reed, Chairman and CEO, Reed. Which sectors are covered by the salary guide? The Reed 2023 Hungary salary guide assess salaries and benefits across the following seven sectors: Accountancy & finance Business support Human resources Marketing & sales Technology Engineering Temporary staffing So, whether you’re looking to hire a head of accounting, service delivery manager, payroll specialist, SEO specialist, or system analyst, or if you’re trying to find out what you should be earning as a project engineer or office manager, you can use Reed’s guide for reassurance. Why download the Reed Hungary salary guide? This is the most reliable salary guide in Hungary, based on jobs that come to our specialist recruitment team. On top of this, our guide features insights from our specialism experts who give an overview of the recruitment on a national level and what to expect from the jobs market in 2023. With data at your fingertips, you can ensure you are best informed to make the right choices. Benchmarking: how can Reed’s salary guide help evaluate benefits/rewards? We surveyed 298 Hungarian workers about both their current and ideal working situation to help further inform you. You can read the full highlights in our ‘Our survey says’ section of the guide. Key findings from our research include: 41% of workers surveyed are still happy with what they receive, but more than a third of professionals (37%) are unhappy with their current salary. Of those who believed their pay was adequate, 73% said it was right for the work they do; 31% said they earn at least as much or more than others in their profession; and 27% believe it gives them enough to live comfortably. Almost as many respondents (37%) are unhappy with their current wage, with 53% of those pointing to the belief they could get paid more elsewhere. 60% indicate they do much more than their job role states, and 87% are unhappy due to their salary not rising alongside the cost of living. With professionals caring about their work-life balance in the aftermath of the pandemic, it is unsurprising flexibility is so desired – 69% of respondents would prefer a hybrid working style, while 24% would like fully remote work. Where health insurance might have been at the forefront of workers’ minds in recent years, only 27% now say they would find it an attractive benefit. The pressure of financial difficulties is changing ideas about what constitutes a worthwhile benefit, with annual salary increase (58%) top of the list. To help you make an informed choice about salary and benefits, download our salary guide using the button above.
Getting the best from your interview
Interviews give your potential employer the chance to see you – in the flesh, or remotely over a video call – to learn about your likes and dislikes, capabilities, and get an overall feel for whether you will fit in with the organisation.However, getting the best from the interview doesn't just mean showing your best self to get the job - it also means using the opportunity to assess the environment you will be working in, those you will be working with and for, and making it clear in your mind whether the job and organisation are right for you.First interview, second interview, face-to-face interview, telephone interview, video interview: whatever the type of interview they all have one thing in common – you have the opportunity to shine."To be a great champion, you must believe you are the best. If you’re not, pretend you are."Muhammad AliWhat's inside the guide?You may be the most knowledgeable professional for the job, but without performing well at an interview you won’t stand a chance of securing your next role.The guide takes you through the following:Getting to grips with the organisation you could be working forDress codeDifferent types of interviewTackling common first interview questionsThe big daySecond interviewsPreparing for a presentation taskOn-the-day tasksBy downloading this guide, you will learn the tips and tricks on the interview process which will help you to make the most of the short time you have to sell yourself.