EconomyFacts & Statistics

Headcount expansion expected at domestic companies

In the next quarter, 12 percent of domestic employers plan to expand their current workforce, while only 4 percent plan to cut it.

There hasn’t been such optimism since Q1 2019, according to the Labor Market Forecast of ManpowerGroup, which conducted a quarterly survey of 45,000 employers in 43 countries. In Hungary, 607 employers were asked about their Q3 recruitment intentions.

Recent data show that companies are already clearly preparing to meet the needs of the expected economic boom. 

The overall 8 percent expected growth in headcount is an average; however, there are significant differences between sectors. The biggest upswing of 17 percent is expected in the restaurant and catering sector. In wholesale, retail, and financial and business services, the expectation is as high as 11 percent. In the manufacturing sector, the planned growth is around the average, while in the construction industry, only a 3 percent expansion is forecast.

The largest expansion is expected in Central Hungary and Budapest, but the growth prospects are also high in Northern Hungary. The lowest rates of expansion are forecast in the Southern Great Plain and Western Hungary.

In an international comparison, the outlook for Hungary is in the middle — 25th place out of 43 countries.

The coronavirus has forced companies to be far more flexible in the way they work. However, 82 percent of domestic companies surveyed plan to have employees return to work full-time in the next 6-12 months. Eight percent of employers indicated that they currently allow home-office work 1 or 2 days a week, with only 10 percent finding more frequent out-of-office work feasible.

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