Q: What are the greatest challenges facing the temp/ recruitment/executive search markets?
A: For all leaders and companies in Hungary, it is the extreme labor shortage. This is also true for the executive search market. Even among top-level executives, there are more opportunities and job offers to choose from than ever before. Speeding up and making the search and selection process more flexible regarding executive search assignments is the most difficult, as a wise and unhurried decision is essential at the managerial level. Educating the hiring managers about the latest tendencies of the labor market and building close strategic partnerships between the management of the hiring companies and the headhunting agencies are the keys to success, even during these tough and challenging times.
Q: What trends do you see developing in the near future?
A: With more international companies opening regional executive positions (and also nonexecutive roles) in Hungary, the labor shortage will surely not ease in the short term, maybe not even in the case of a not too severe economic depression.
Q: Do you expect consolidation in the market, or is there room enough for all players to survive and thrive?
A: HR consultancy work, and especially headhunting, is a growing market as it is becoming almost impossible to fill a position rapidly and at the same time successfully without external professional help. In my opinion, Hungarian-owned HR companies tend to react more quickly and flexibly than international firms, especially in extreme circumstances. This is why we see the Hungarian temp/recruitment/executive search agencies shooting ahead and occupying market-leading positions.