Some 43% of Hungarian IT experts would be willing to leave the country if they were offered a better job, a rate well above the 35% average rate among other professions, according to research by Boston Consulting Group (BCG), HR specialist The Network, and job portal Profession.hu.
“The retention of digital experts both on country and corporate level is becoming increasingly difficult, as they move abroad more easily, they work in one place for a short time, and they find a new job quickly,” says Ádám Kotsis, leading expert at BCGʼs Budapest office.
“On average in Hungary, a digital expert finds a new job after two weeks and four applications,” he continues. “Competition is fierce, and recruitment has not been enough for a long time. Companies must proactively train their employees if they want to ensure strategically important skills.”
While the 43% rate of IT specialists willing to emigrate for a better job is high compared to other professions in Hungary, the global rate is still higher, standing at 67%.
The most popular destinations for Hungarian IT experts are Austria, the United States, and Germany, with startup hubs Berlin and Munich both among the top five named cities.
The research says that both attracting and retaining IT experts requires a unique approach, as they tend to choose employers based on different aspects compared to other professions. In Hungary, the most important aspects are good workplace relations, a good salary, and an optimal private life/work balance.
While salary is considered the second most important aspect in Hungary, it is only the fourth most important globally. This means that on the global level, offering a high salary is no longer enough for retaining talent, as in-work training and professional development are also becoming more important.
“Good professionals have a choice of numerous offers, hence they have an expectation regarding salary transparency in ads,” says Imre Tüzes, Profession.huʼs head of business development and product management. “In the engineering categories, 80% more applications arrive for job postings where the expected salary is visible.”
Even so, Tüzes confirms, a competitive salary is not enough in itself.
“At job interviews, nine out of ten candidates bring up the importance of the team and workplace environment, and in the case of IT professionals, the possibility of professional devlopment also has an accentuated role,” he says.
According to The Network head Pierre Antebi, the studyʼs co-author, “HRʼs role is critical in the fight for digital experts. Recruitment is often not limited to only one country, but occurs on the international labor market.”