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Wages expected to grow fast

January 25th, 2018

An independent HR expert summarizes a new survey according to which wages will continue to surge in 2018, and suggests that this may slow down emigration.

Sándor Baja, CEO of Ranstad Hungary outlines the conclusions of a recent survey by his company on portfolio.hu. He believes that higher wages may slow down emigration, and could even attract back some of the workforce which has left Hungary. According to the international HR company’s report, 75 per cent of Hungarian small and medium size firms are planning wage hikes in 2018. Interestingly enough, only 43 per cent of employees expect higher salaries, just 3 per cent up from last year. The PR expert welcomes the government’s decision to raise the minimum wage but warns that some businesses will try to avoid paying higher wages by laying off staff, and those companies that are unable to make a profit as a result of the higher wages they will have to pay, may shut down. All in all, however, Baja is confident that laid off workers will easily find new, more productive jobs, thanks to the overall labour shortage.

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