The mission of Munkahelyeink.hu is to bring transparency to the Hungarian labor market. That’s why today we are starting a series of articles highlighting Hungarian companies that foster healthy relationships with their employees, both through an organizational culture based on empathy and through attractive benefits.

Erste Bank Hungary is one of the largest commercial banks in Hungary, offering a wide range of financial services, including savings accounts, loans, and investment solutions, for both individuals and businesses.

Dr. Krisztina Mihók, HR leader at Erste Bank Hungary, will give us a glimpse behind the scenes of the company in the interview she gave us. Today, alongside Dr. Krisztina Mihók, we will explore the most important benefits you could enjoy as an employee at this company, as well as the special ingredient that makes Erste Bank Hungary such a sought-after employer in our country.

1. What is your current position at Erste Bank Hungary Zrt.?

I work as an HR leader.

2. Tell us about your professional background! What qualifications do you have, what areas have you worked in, and what passions have shaped your career?

I started at Erste as an intern, and after obtaining my degree, I continued here. I graduated as a lawyer, but I became captivated by the HR field; I realized I was interested in related matters. This is my first job, and over the past 17 years, I have encountered many new challenges and tasks that have made my daily work exciting. I became the head of HR six years ago, and I believe I have successfully implemented changes that make Erste stand out among Hungarian employers. At our company, #believeinyourself is not just a slogan; it's part of our corporate culture: it means that we trust our colleagues and care for them, taking their needs into account and providing opportunities for development and advancement. We would like our employees to plan for the long term with Erste since we also count on them in the long term. Our average employment duration is 9.4 years, with 25 percent of my colleagues having worked at the bank for over ten years, and 10 percent having been with us for more than twenty years.

3. How do you remember your first day at Erste Bank Hungary, and how would you describe your career so far?

I came to Erste because I believed that in such a large multinational company, I could learn a lot. This has proven true, although the bank's operations no longer seem as complicated as they did in the beginning. Since I joined Erste, I've never been bored; there have always been new tasks, projects, or opportunities that have helped me grow, learn, and develop. Over the past nearly two decades, the world has changed significantly, along with the bank and the HR field. We have improved our systems and digitized our processes, built a strong corporate culture, rethought and transformed our benefits multiple times, and managed to stabilize our colleagues' engagement at a high level. However, we have also learned that we cannot stand still: we must continuously renew ourselves and adapt to new challenges, expectations, requirements, and the new generations.

4. What attracts you most about the organizational culture represented by your company?

What attracts me is that we truly believe in people. The corporate culture is not a set of goals written on paper; it is a reality that can be lived every day. We do not see our colleagues as working robots, but as flesh-and-blood individuals who perform their jobs with passion and enthusiasm. And when they work this way and are satisfied and happy, our clients will also feel that Erste is different—it's a bank that cares for them and believes in them. It is very important to me that every colleague, whether they have been here for over twenty years or just joined us yesterday, can experience this in their daily work. We want to create an inspiring and supportive workplace environment based on trust and collaboration, where everyone has the opportunity to develop and try themselves out.

At Erste, in all central areas where it is possible regarding the content of the job and workflows, colleagues can now work from home for 60 percent of their working hours. In addition to home office options, the bank also offers remote work opportunities, which nearly ten percent of colleagues take advantage of. Leaders trust their subordinates to manage their working hours effectively even when working from home. Colleagues, in turn, take responsibility for their work, ensuring they perform their tasks just as well as they would in the office.

At the same time, there are communities and clubs within the bank that help the organization become even better. Colleagues participating in Erste Green continuously bombard management with suggestions on how to make operations greener—many of their proposals have become part of our daily practice. There is an initiative aimed at eliminating banking jargon from our communications. Some help fine-tune the values of our corporate culture. We also have our own leaders: executive directors share their personal stories in internal forums, reinforcing specific values articulated in our corporate culture.

5. If You Could Change Anything in the Company with a Snap of Your Fingers, What Would It Be and Why?

I would like to connect the digital and human elements in our daily work as soon as possible. Digitalization has already permeated every area of banking operations, and there are fewer and fewer activities that do not take place in the digital space. You no longer need to go to a branch to open an account; you can easily handle this over the phone or through the George App, just as you can take out a loan or buy shares or government bonds via phone or computer. Because of this, there are very few non-digitized jobs; for example, we are working to offload part of the call center tasks onto our virtual colleague, Mira, who answers the most common questions via chat. Additionally, some administrative tasks of HR staff are already being performed by robots. In this area, machines have mainly replaced human resources in monotonous tasks that involve many repetitions, allowing us to focus more on engaging with clients or addressing the needs of colleagues rather than on administration. However, it is still a while before AI can completely replace tasks that rely more on synthesizing existing knowledge, such as analyzing databases or preparing case studies. This would likely free up more time for what machines—at least for now—cannot do: creativity and problem-solving. If we could fully harness the potential of collaboration between people and technology, we could create the best, most productive, and most inspiring work environment for our colleagues. This would not only increase our efficiency but also enhance our employees' well-being and satisfaction.

6. How do you think an HR professional contributes to the employee experience, helping to retain talent?

We must continuously renew ourselves; innovation is needed in the HR field as well. Employee experience is significantly influenced by the organizational culture, along with the digitalization and automation of HR processes. It is now standard that employees can easily, quickly, and efficiently apply for leave and submit necessary paperwork for tax benefits or sick leave. However, this also brings changes to the back-office tasks of HR. While previously a significant portion of the tasks for those working in HR operations focused on managing employee data, technological advancements have now made it possible to automate these activities, reducing the role of administration. As a result, educating colleagues about financial matters and providing advisory services are gaining more prominence in the work of HR professionals.

The work of human resources (HR) has meant much more for years than just helping to select new employees or managing leave requests and payroll. Today, HR not only needs to enhance employee engagement and satisfaction but also contribute to helping employees navigate important questions that affect them. Just as a parent helps a child, or a bank assists a client, an employer must help its employees develop their financial awareness. Thus, HR takes on an educational role, helping employees understand benefits packages and showing them where opportunities for growth lie. It is essential for us that everyone sees long-term career opportunities with us.

7. More and more candidates are prioritizing well-being benefits. What initiatives has the company undertaken in 2023 for the personal development of employees?

Our ErsteVeled benefits program offers employees the opportunity to find benefits that suit their individual life situations. One of the most popular elements is our Erste Care loyalty program. In this flexible program, which can be customized in several aspects, the range of selectable benefits increases in four stages after two years of employment. Along with health insurance, employees can choose from family health insurance, pension fund contributions, a study allowance for personal development, and support for mortgage repayments. Additionally, they receive extra vacation days and, over time, a creative leave of one, two, or four weeks for their recharge.

Alongside physical and mental health, financial well-being is also important, which is supported by our WeShare employee stock program launched in 2022. In this program, every eligible employee receives 350 euros worth of Erste Group shares. They can also purchase additional shares using their savings, with the bank even doubling the investment for them. In 2023, we paid our first dividend, which amounted to nearly 300 million HUF this year. The value of the investments made by employees participating in the program has increased by nearly 40% compared to last year due to the rise in the bank’s share price. For those who participated in the program in 2022, the value of their share package has doubled.

8. How do you handle it when a colleague faces some difficulty or dilemma during their workday?

This is one of the most important aspects of our corporate culture. We strive to create an environment that supports our colleagues' growth while establishing a safe and trusting atmosphere where they can confidently turn to their leaders or us for help. There is no flawless work — we don’t want to convey to our employees that mistakes are unacceptable. On the contrary, innovation and the exploration of new methods often mean that things may not succeed right away. It may also happen that someone is having a tough day for personal reasons or hasn’t had time for something, leading to a mistake. That’s okay. We want our colleagues to openly acknowledge when something isn’t going as planned: the problem isn’t the mistake itself, but the attempt to cover it up, which only delays the solution. When designing our benefits system, it was also essential for us to support our colleagues, and we strive to offer help in their individual situations as well.

9. Name three things you are proud of being part of the team! Choose one and elaborate on it in detail.

There are many more things we can be proud of – as evidenced by the awards and recognition we’ve received over the past few years, such as Erste being the only bank to be listed among the top ten employer brands in Hungary last year. I take pride in my outstanding colleagues, whose enthusiasm has been crucial in achieving such results. I’m not only thinking about my immediate coworkers but also about the leaders who are champions of creating a direct, trust-based workplace atmosphere. This is evident in that, despite over three thousand people working at Erste, the atmosphere feels familial. The leaders don’t isolate themselves from their subordinates; rather, everyone is easily accessible, even the CEO, Jelasity Radován, is someone anyone can talk to.

Then there are the innovative HR programs and initiatives that continuously challenge us. Innovation in HR has accompanied me throughout my career; I’ve always been brimming with ideas for improvements, and I’ve always had "accomplices" who helped with these projects. To mention just a few, we operate almost entirely paperless, have our own robot, and we are already preparing AI-based solutions.

However, if I must highlight something, it’s that the caring, people-focused corporate culture truly permeates the organization and the entire functioning of HR. Recently, a colleague thanked us in a letter for how much my colleagues helped her and her family during a difficult life situation, and how much it meant to her. She particularly emphasized my colleagues' attitude, their care, and attention, showing that we truly value our colleagues as people. Beyond being immensely proud of my colleagues for doing everything they can to help and support our employees, this feedback reinforces the importance of our corporate culture and our ability to realize it in our daily lives.

10. Do you think salary is still the most important factor when choosing a job? What is your company's strategy for salary increases in 2025?

“Cash is king” – salary remains the most important factor, as evidenced by the PWC survey. Erste continuously conducts internal satisfaction surveys, which also reveal that salary is a top priority for our colleagues. In the current inflationary environment, this has become even more prominent, so it is essential to focus on salary increases. Our goal is to help our colleagues achieve financial health, so we pay special attention to stronger salary development for those with lower incomes. In 2025, we plan to continue raising salaries in line with inflation.

However, surveys also show that "soft" factors play an important role in how an employer is perceived. Flexible working arrangements are now at the top of the list, but the company culture, values, and how well employees can identify with them, as well as a supportive community, also matter greatly. Additionally, the leadership style, accessibility, and approachability of the leaders are significant factors.

11. Many people seek meaning and purpose in their work. How does your company help meet this need?

Erste offers a diverse range of career opportunities, allowing everyone to explore new areas—just like I transitioned from being a lawyer to an HR professional. We have numerous individual examples of horizontal career paths. Last year, 10 percent of our colleagues, more than 350 individuals, changed roles within the company.

We don’t see our colleagues as just a workforce; we see them as people. It’s important to us that they can thrive both at work and in their personal lives, as this benefits everyone. When we say we live a full life, we mean that we can realize our ideas at work while also having a well-organized family life, allowing us to spend enough time with loved ones and recharge. Our benefits program contributes to this.

A key foundation of our culture is our community. We provide our colleagues the opportunity to find a community of coworkers who share their hobbies or leisure activities, or, if such a community doesn’t exist, to start a club themselves where they can connect with colleagues who share similar interests. Erste also financially supports these club activities, and we raise awareness of the clubs and their events among our colleagues. Our social banking team organizes programs that offer numerous volunteer opportunities for those who want to participate in our social responsibility initiatives.

12. How important is mentoring for a newcomer? Does your company offer internship programs?

My career path is a good example of this. I started as an intern at Erste and now hold the position of HR leader. This is why I consider internship programs to be so important.

Our ErStep internship program is a year-and-a-half rotational program where young interns spend three six-month periods in different organizational units within a division. With the help of a designated leader and mentor, they can learn about the workings of the Bank and the specific area, complete independent tasks, and at the end of the internship, we may even offer them a full-time position. However, even outside the program, numerous interns support the work of the departments.

Not only newcomers but also all new colleagues are supported in their integration by a mentor appointed by their leader after joining.

13. Finally, what advice would you give to candidates considering applying to your company?

We believe in what we say. I would advise applicants to believe in themselves. If someone believes in themselves, is open, and wants to make an impact on a company's operations, it is worth applying to us. From the very first moment, we trust our colleagues, providing them with the support and confidence needed for their development and fulfillment.

Are you looking for a job at a top company in the banking industry?

Join Erste Bank Hungary! Visit the employer page on Munkahelyeink.hu for the company that continuously invests in the development of its employees, and take a step toward your professional future.