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Labor shortage among biggest problems for 38% of businesses

About 38% of Hungarian SMEs believe the labor shortage is among the biggest challenges they face at present, according to a survey by the Institute for Economic and Enterprise Research (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK).   

The ratio was up two percentage points from a survey conducted six months earlier, noted state news agency MTI.

Some 86% of 400 managers who responded to the survey said their companies struggle to find experienced labor, while 71% said hiring career-starters is difficult. About 60% said staff turnover is a problem.

The survey shows that 34% of respondents  have tried to attract and keep workers by offering higher remuneration than competitors, while 29% have invested in automation to reduce headcount and 20% have turned to student labor.   

About 70% of managers said their companies have raised wages, 49% offered training opportunities, while 47% are sweetening compensation with vouchers.