Most Attractive Workplace of the Year by PwC Hungary

In addition to a basic salary, it is privacy and a supportive, friendly atmosphere that count when choosing a job, according to the eighth edition of PwC's Labor Market Preference Survey, which this year attracted more than 90,000 experienced employees, university students and students in public education or vocational training. The Most Attractive Workplace of the Year Award was given to Mercedes-Benz.

The pressure of constant economic and social change is pushing workers to look for opportunities elsewhere. According to PwC's Global Hopes & Fears 2024 survey, more than a quarter (28%) of respondents plan to change jobs in the next 12 months, a much higher proportion than the 2022 wave of job cuts (19%). So, knowing the factors that can help alleviate the pressure on them and make them more effective in retention is crucial. Money remains the main motivator, but other factors are also playing a key role this year, alongside financial rewards, when looking at employee preferences.

Good company with good pay
"In recent years, employee preferences have undergone a significant shift as people have sought to adapt to an ever-changing and unpredictable economic and social environment. Two years ago, job stability was dominated by the energy crisis, while last year, due to soaring inflation, money and benefits dominated - almost eclipsing all other considerations," Márta Reguly, head of PwC Hungary's HR Advisory team pointed out. "This year, it is clear to see how much employees value the social environment and workplace framework, as well as flexibility," she added.
The strengthening of the human factors started last year but has become even more pronounced this year. The importance of a supportive, collaborative team (ranked 3rd) and the role of a prepared, supportive manager (ranked 4th) indicate that employees increasingly value a positive workplace atmosphere where they are supported by the community and management, both professionally and personally.
Respect for privacy is also high on the list of preferences (ranked 2nd). For employees, it is key that their employer respects their personal boundaries and allows them to create and maintain a healthy work-life balance. The need for flexibility has also increased, with the amount of work that can be done during working hours ranking 5th (7th in 2023) and working from home ranking 12th (21st in 2023) on the preference list.

Students who want progress and predictability
The values brought by the younger generation are extremely important for organisations. Their digital skills, fresh worldview and innovative problem-solving are essential for companies to grow and survive.
Career development (Career opportunities: 6th) and training opportunities (12th) are of paramount importance for students compared to older generations. They are looking for a job where they not only have challenging tasks, but also support for their professional development, whether in the form of a coach or mentor. They place more emphasis on predictability than on flexibility (Predictable hours: 7th place, Workload within working hours: 8th place), which they expect to be protected by adequate compensation for overtime (Overtime pay: 2nd place).

Diversity and transparency as a competitive advantage
Although they are not in the top 10 of employee preferences, the biggest positive shifts compared to 2023 are in employer vision and strategy (14th; up 11 places from last year), diversity and equality (22nd; up 10 places) and transparency in decision-making (18th; up 9 places). The need for diversity is even stronger for younger age groups: 17th for university students (15 places up) and 12th for high school students (6 places up), indicating that these factors are becoming increasingly important for the new generations of the labour market.
"Transparency, diversity efforts and conscious planning for the future are not just ethical or social responsibility issues, but also a concrete competitive advantage for companies. Companies that lead the way and focus on these areas are more attractive to talented employees and more likely to retain them in the long term. Transparent decision-making builds employee trust and engagement, while a diverse and inclusive workplace culture fosters innovation and creative problem solving. An organisational culture that provides stability, respects employees' values and creates an inclusive environment can also contribute to market success," the expert concluded.