Anxiety over cost of living crisis among Hungarian workforce

Uncertain global economic and political conditions affect people’s daily lives. According to an international survey, a third of workers say the biggest source of stress outside of work is the cost of living crisis, Vilaggazdasagreports a Hungarian business site.

According to the article, companies that have a timeless business strategy, a strong organizational culture and the ability to retain key employees will come out on top in what will likely be a tough time ahead. For this reason, WHC Group, one of Hungary’s leading recruitment consultancies, has entered into a strategic partnership with 3rdGEN, another Hungarian consultancy group, joining forces to support Hungarian businesses.

In the current economic context, which is changing very rapidly and deteriorating, well-being at work and employee satisfaction are particularly valued.

For this reason, it is particularly important for companies to ensure that their employees feel safe and valued, while maintaining their motivation.

In the Hungarian context, it is essential that companies have a strong organizational culture and, if necessary, seek external expertise, Vilaggazdasag writing.

“We can contribute to labor retention, which is becoming increasingly important in today’s economic and labor market environment. Leadership and organizational development contribute to the stability and development of a company, facilitating both resource management and employee retention,” said Péter Berta, CEO of WHC Group.

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The field of study and the type of institution awarding the degree also have an important impact on the wage demand of young Hungarian graduates.continue reading

Another aspect of the services is business mentoring, which offers both managerial and professional development, and the programs help managers become more motivated and employees more engaged.

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Laura T. Thrasher