According to experts, the labor market is transforming with unprecedented speed
The labor market is transforming with unprecedented speed, the processes are forcing both company managers and employees to constantly adapt – said the experts of the Magyar Nemzeti Bank (MNB) and PwC Hungary’s economic consultant at the labor market conference on Wednesday in Budapest.
Csaba Kandrács, the vice-president of the MNB, believed that knowledge and experience are no longer the primary thing when it comes to labor supply, but the skills necessary for the job, that is, employers are looking for employees who can be further trained in accordance with their expectations. According to his experience, job seekers value more than salary the compensation for extraordinary work, the subsidies that can be requested for individual life situations, and the fact that the employer ensures a balance between work and private life.
Csaba Kandrács added that the labor market must also prepare for the rise of digitization, automation, artificial intelligence, and robotics, as these will create new professions, while others will be transformed or even eliminated. However, despite all the changes, it is certain that human work will continue to be needed, which is why human relationships and skills, empathy, and problem-solving skills will never lose their importance. Regardless of the circumstances, employers must pay attention to ensuring that their employees have the opportunity to learn, the conditions for employee well-being, and the preservation of physical and mental health, he emphasized.
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