PwC survey reveals employment preferences of Gens Y and Z
In Hungary, members of Generations Y and Z consider flexible work options, stability and base salary as the most important job characteristics, according to Big Four advisory firm PwCʼs Employee Preference Survey 2019.
PwCʼs Róbert Bencze presenting the findings
The survey was conducted by questioning some 37,000 high schoolers, college students and recent graduates. Some 51% of the respondents were in higher education, 21% were high school students, and 27% were already employed.
Respondents said that a fixed, predictable base salary is more attractive than performance-based compensation, while the management style of immediate superiors is decisive.
“This year, we’ve expanded the survey to help Hungarian companies better understand the job expectations of prospective hires,” says Róbert Bencze, director of people and organizations consulting at PwC Hungary. “This is important because, according to PwC’s CEO Survey, the overwhelming majority of Hungarian CEOs identified skills shortages as the greatest barrier to their company’s success.”
The results of the survey show that nearly everyone (96%) researches a potential employer before submitting a job application. Some 63% of respondents said they would prefer working at a multinational firm, while 28% were interested in joining a startup. Approximately 21% said they believe the public sector also offers attractive job opportunities.
The vast majority of those surveyed (94%) under 25 years of age would consider moving within the country. Csongrád County (SE Hungary) has the highest proportion (78%) of those who would like to stay in their current place of residence. On the other hand, slightly more than half (54%) of respondents in Heves County (NE Hungary) would even be willing to move as far as Győr, in the northwest of the country, for an attractive job.
Regional differences are present not only in terms of mobility, but also in preferred job characteristics. Professional training provided by the employer is the fifth most important characteristic in Hajdú-Bihar County (E Hungary), while in Budapest it ranks only 10th.
PwC says there are differences in job preferences by industry: telecommuting and management style of immediate superiors are considered important in the IT sector, while challenging work and rapport with co-workers are the most decisive attractive factors in the pharmaceutical industry. Companies in the automotive sector, a driver of growth in Hungary, can successfully attract Generation Y and Z career starters by offering professional training, and career advancement based on actual job performance.
“The survey results show what job characteristics are important for prospective job seekers, who are still in secondary or higher education or are just starting their career,” says Zoltán Örkényi, manager at people and organizations consulting at PwC Hungary. “With these factors in mind, companies can prepare themselves to successfully attract future generations of employees.”
Most attractive employers
The advisory company also announced the winners of its “Most Attractive Employer 2019” awards. Audi Hungaria triumphed in the automotive manufacturers category, with MOL winning in the energy and public utilities category.
First place in the FMCG category was clinched by Coca-Cola HBC Magyarország, while Robert Bosch came out on top in manufacturing, and Gedeon Richter achieved top spot in the pharma category. OTP Bank won in the financial services category.
Other winners included Aldi Magyarország Élelmiszer in retail, Morgan Stanley Magyarország Elemző in the SSC category, Prezi.com in technology, and Magyar Telekom in telecommunications.
PwC’s overall “Most Attractive Employer 2019” award went to Audi Hungaria, based on overall ranking.
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