Is the global wave of mass resignations really affecting the Hungarian labor market? What impact does the transformation of the workplace and the nature of work have on people's propensity to stay in their positions? Deloitte's Big Quit survey sought to find out how much Hungarian workers are currently willing to quit voluntarily, which groups of workers are most affected, what are the main reasons for thinking about quitting, and how this relates to hybrid working.
“The term "Big Quit" has probably been used by all HR professionals and business leaders: it refers to the phenomenon of a significant proportion of employees leaving voluntarily, which has been observed in many countries around the world in recent times. It has an impact on the efficiency and business performance of companies, the labor market and the economy, and it is important that employers do all they can to reduce it,” Martin Csépai, Director of HR Consulting at Deloitte Hungary, explains.
The aggregate results show a similar picture to international trends in Hungary, with 57% of respondents saying they are currently thinking of changing jobs, one in five of them in the next three months and nearly one in two within a year.
The intention to quit is clearly stronger among those who have been in their current job for less than 2 years, with 2 out of 3 of them thinking of leaving, but the level of intention is not negligible among workers with 3-5, 5-10 and 11-20 years of service, with the proportion of those who want to leave also exceeding 50% in these groups.
It's important to note that it's not just younger, entry-level workers but also middle-aged employees who are considering leaving their jobs. An important takeaway from the survey is that, in addition to employees,
47% of those in managerial positions are also considering resigning,
so their retention also requires special attention from employers.
Despite the inflationary situation and economic difficulties of the past year, Lower-than-anticipated pay is connected to a variety of other factors that motivate people to leave,
including inefficient work processes and poor opportunities for development.
A third of respondents complain about the lack of attention paid to employee well-being, which has been a key issue for HR professionals since COVID-19.
The survey looked at which benefits are most important to employees and how these relate to their willingness to quit.
“It became clear that offering flexible working is a crucial element:
40% of respondents would accept a salary cut in exchange for being able to choose where to work from,
and an increase in the number of mandatory office days would prompt nearly half of employees to change jobs," says Anna Somogyi, senior consultant in Deloitte Hungary's HR consulting department.
Although a quarter of respondents currently have no opportunity to work hybrid at all, 94% would like at least 1 remote working day, and 60% would like 2-3 remote working days per week.
Although most employers have started to offer hybrid working, there is still room for improvement. 70% have already set clear frameworks and the reception from employees is positive, with more than half of respondents agreeing with the rules.
In contrast, there is a wide gap between the tools that employees expect and the tools that employers provide to support hybrid working: for example, the monthly expense support, which is the top priority for employees, is only provided by 11% of the employers surveyed.
The survey also showed that the possibility of flexible working has a positive impact on work efficiency: a third of respondents self-assessed that they get better or much better results when working from home, and 43% felt that they got the same results in the office as when working remotely.
Source: Deloitte Hungary