Hungarian companies raising salaries in masses

Two companies out of three have already experienced difficulties related to the lack of labour force, as Forbes.hu reported. The only solution they can usually come up with is raising salaries. 

Small and medium-sized enterprises in Hungary lack skilled workers rather than capital, as K&H’s new survey shows. Two-thirds of the Hungarian companies have already faced difficulties related to the shortage of employees. This tendency leads to the fact that twice as many companies are searching for new employees as in the last year. Moreover, a wave of increasing salaries are inbound.

KSH’s most recent data show that a record number of vacancies were registered in the third quarter of the year.

There were almost 53,600 unmanned positions in the enterprise sector, which is a 30% increase compared to the same period in the last year.

The total national economy lacked more than 70,000 employees between July and September. This was the period when K&H did its survey among the Hungarian company managers.

K&H’s manager of marketing department Viktor Zoltán Kovács stated that 67% of the enterprises faced challenges related to the lack of labour force this year. He also added that labour market’s role is becoming more and more significant.