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Published: 3 week

Employee satisfaction is not just about money: recent research

Finding talent, not financial constraints, is the biggest challenge in recruiting for companies. Salary is not the number one factor in retention either, but rather a flexible working environment and well-being measures, according to research by HR services provider Miell HoRizon, which looked at the labour market situation in the Western and Central Transdanubian region.

Miell kutatás 2024 munkaerőpiac-

In a survey on the labour market situation in Western and Central Transdanubia, HR service provider Miell HoRizon interviewed 59 selected decision-makers from the counties of Zala, Vas, Veszprém, Győr-Moson, Komárom-Esztergom and Fejér. The companies are typically prominent local players in the economy, mostly involved in manufacturing.



Companies' hiring plans for this year are cautious, with 54 percent of firms planning to hire more than 5 people. They are mainly limited to skilled workers, machine operators and production workers, who remain in short supply in almost all areas.



The biggest difficulty in hiring is a lack of skills (50 percent cited this), 41 percent struggle to find candidates, with only 30 percent citing financial constraints. Money (salary requirements) is not the real difficulty in attracting young people, but the work-life balance (46.7 per cent).



The shortage of skilled workers affects almost everyone, and surprisingly few people are using temporary employment services to solve this problem, even though it is an optimal solution for most companies in these changing times," confirmed Márton Tomanóczy, Area Manager of Miell HoRrizon, who personally participated in the survey.



The research confirmed that several factors are considered to be of high importance by employers in Hungary in terms of staff retention: flexibility and well-being at the workplace, the provision of training opportunities, the implementation of development measures, as well as the quality and extent of remuneration policies and fringe benefits.



Salary is no longer at the top of the list compared to recent years. According to respondents, workplace flexibility and well-being have become much more important in employees' lives.



In terms of flexibility and well-being, the increasing acceptance of home office and flexible working hours, which are options that nearly 50% of respondents offer their employees, could be a significant factor.



\"Márton

Márton Tomanóczy: So far, few people are using temporary work, but it can be an optimal solution to alleviate the shortage of skilled workers



While more than 60% consider the composition and size of the current benefit packages to be popular, they still feel that further incentive programmes should be designed and introduced.



In addition, employers also focus on the existence of CSR activities, which can also have a significant positive impression on future employees, especially members of generation Z.



More than 65% of the respondents also consider it important to participate in events and training courses organised for the HR sector from time to time, to gain more knowledge and up-to-date information on current labour market issues and new trends.



With the lack of appropriate skills for new employees being a major problem for companies, most are happy to provide work placements and help the development of apprentices in dual training, hoping that this can solve the labour shortage in the medium term.



Few consider it necessary to estimate future labour demand, but their HR strategic preparedness and recruitment processes are considered ideal.



The respondents are divided on the areas of workforce management that need to be improved. Some respondents consider their HR strategy to be up-to-date and prepared, while others plan to optimise retention measures and operational processes, training, reducing generational differences and developing a performance appraisal system.



The full results of the research can be found here


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