Anxiety about Cost of Living Crisis among Hungarian Workforce

Uncertain global economic and political conditions are affecting people’s daily lives. According to an international survey, a third of workers say that the biggest source of stress outside the workplace is the cost of living crisis, Világgazdaság, a Hungarian economic site reports.

According to the article, companies that have a timeless business strategy, a strong organizational culture, and the ability to retain key employees will emerge as winners in what is likely to be a difficult period ahead. For this reason, WHC Group, one of Hungary’s leading recruitment consultancy firms, has entered into a strategic partnership with 3rdGEN, another Hungarian consultancy group, joining forces to support Hungarian companies.

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

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

In the Hungarian context, it is of paramount importance that companies have a strong organizational culture, and where necessary, seek external expertise, Világgazdaság writes.

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

Another aspect of the services is business mentoring, which provides both management and professional development, and the programs help managers to become more motivated and employees more committed.

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