GKI: labor shortage is the most acute at small companies

Mostly, firms employing fewer than 20 people are looking for manpower, they could employ about a quarter more than the existing staff number – the GKI Economic Research Co. announced on Wednesday, on the basis of the November business survey.

These companies have typically domestic shareholder base and are mainly working for the Hungarian market and therefore they are highly cost-sensitive. According to GKI, they are only able to give lower wage increases and therefore it is hard for them to retain the employees. These companies (staff betweeen 5 and 20) employ almost 600 thousand people in Hungary. (MTI)