A skilled employee can still choose

Although labor market processes are somewhat changing, as downsizing and reorganizations are taking place, with the aim of greater efficiency, a good employee is still a value, who can choose from the opportunities on the market, says Costin Tudor, founder of Munkahelyeink.hu. He sees the trends as similar throughout the region. Salary is still the primary motivation, but learning and development are increasingly coming into the view of companies. We talked about these trends.

How do you see the labor market situation in the region? In which areas is there still a labor shortage?

The layoffs, which have already taken place in the United States and Western Europe, affect the entire region, including Hungary, but at the same time they show a shift of a few months. This can be traced mostly in the IT sector. Through this industry, we can see into the future, in a certain sense, what happens there will sooner or later also happen in other sectors. It can be observed that companies are striving for greater efficiency: lower costs, greater productivity on the part of employees. If I had to generalize, I would say that we can still talk about a market driven by employees, but rather by skilled employees who can be more efficient and productive in a shorter period of time.

What differences do you see in the region?

The trends are the same, I mostly see differences in the speed of events and in specific industries. In Hungary, for example, manufacturing, trade and IT are the leading areas. While elsewhere, where we are present, for example in Greece, tourism and hospitality.

How do the preferences of both employers and employees change in light of these processes?

As I mentioned, companies are looking for efficiency. A new trend that can be seen is the provision of opportunities for development and learning as benefits. Because greater efficiency also requires knowledge, which a company either buys (in the form of an already "ready" employee) or invests in its existing workforce. This is not a country-specific trend, but a generally observable trend. By providing the opportunity for development, companies can also compensate for additional salary increases and other motivational factors. Salary is still the clear flag-bearer among employees' perspectives, well-being and benefits also play a role, but the first is the salary, as our data proves. This is primarily why people change jobs in the region. Of course, preferences depend on the industry, the employee's experience, and in which touchpoint of their professional development they are.

Do you think that this new focus may also have an impact on the fact that, while previously, in the event of an economic slowdown, companies immediately cut training and development costs, now technological development and the speed of change do not allow this?

The answer is yes and no at the same time. Companies are increasingly looking for immediate results, for the fastest possible return on investment, while development and AI implementation are more of a medium- or long-term investment. Mature companies can actually invest in this in the long term, these are usually large multinational companies. While this is less typical of smaller, local companies, they prefer to continue using classic recruitment and motivation tools, where the mindset is still more focused on quick returns.

What can be seen from the data, do employees prefer to stick to their jobs? What is the willingness to change?

Good employees can still easily change jobs or roles because they have the competitive advantage of having the right knowledge. From this point of view, the market still works dynamically, and this is supported by our data. People are looking for opportunities. At the same time, when it comes to a less qualified workforce or just starting their career, they prefer a stable work environment, which is also typical in trade, for example.

How do you see the contrast between employer branding messages and reality? Maybe some messages are actually less relevant in such a market situation?

The needs of employees are different, so different topics are important to them. It is important for a beginner to have a job at all, if the management is good, that is a plus. At the next level, career prospects, salary, work-life balance are more important if you already have a family. In other words, preferences differ depending on seniority. On our platforms, we find that those who are looking for a job look up the employer. He inquires about the opinions of employees who have already been there, whether there are projects that have potential, whether there is fair pay, etc. They inform themselves about the opinions of employees who have already been there, whether there are projects that have potential, whether there is fair pay, etc.

From the point of view of employers, maturity and knowledge decide the directions. Despite cost reductions and freezes, mature companies invest in their employer brand, in order to be attractive to potential employees, even if they don't currently have an open position.

FRAME

- 72% of hiring managers agree that employer branding has a significant impact on hiring.

- 88% of job seekers consider a company's employer brand when applying for a job.

- 76% of candidates want to learn about the team's culture and values ​​before accepting a job offer.

- Increases participation in interviews by 50%

- The hiring time is reduced by 20%

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How does transparency develop in relation to payments?

Change in this area is not happening at the pace we hoped for, despite the existence of the EU recommendation on transparency. Of course, progress has been made compared to five years ago, but transparency should not only refer to the salary appearing in the job advertisement, but also to what the contract employee's prospects are after being hired: in 6 months, in a year or two. There is still a lot of potential and tasks in the area of ​​transparency, which can be an important key to retaining employees.

Both the manager and HR have an important role in creating a transparent corporate culture.