Spanish e-coffee with… Talentor Hungary
In Servitalent/ Talentor Spain we created this initiative called “Spanish e-coffee with…” that arises first, so that we can share a dissenting space with our partners from the Talentor International network and second, to talk about executive search in each country.
On this occasion we shared a very pleasant time and had the opportunity to talk about possible collaborative experiences with our partners from Arsis Global Consulting – part of Talentor network: representing Hungary, Bulgaria and Greece.
We asked Katalin Panayotopoulos Antal (Managing Director) some questions about the important factors to consider when looking for talent in Hungary, Bulgaria and Greece. Here’s what she shared with us:
- Hello Katalin, can you tell us a little bit about Arsis Global Consulting!
- Arsis Global Consulting is a boutique Executive Research Consultancy established in 2006 with the aim of offering a customized approach to hiring mid and C level executive sales, operations, leadership, marketing talent. Member of Talentor International since 2016 representing Hungary, Bulgaria and Greece.
- Our Clients: 90% international companies with presence in CEE
- Our Locations: Budapest/Hungary, Sofia/Bulgaria, Athens/Greece.
- Our main industries: FMCG, Retail, Construction, Life Science, Manufacturing, IT/Telecom, Energy.
- Our Services: Executive Search, Recruitment, Talent Mapping, Career & Executive Coaching/Personal Branding
- Our Team: diversity and inclusion is the main “pillars’ of our small and unique team of passionate recruiters and researchers.
- Our vision: To be a solution provider to our Client via partnership & entrepreneurial approach.
- What would you say are the most important factors to consider for a foreign company when looking for talent in Hungary, Bulgaria or Greece? What important aspects should you consider before starting the search (culture, legislation, salary policies, mobility, social benefits, etc)?
The history of Hungary and the Hungarians need to be known in order to understand the pessimism & uncertainty avoidance of the Hungarians. Pride needs to be considered. Hungarians do not work to survive; they like to get acknowledgement. Hungarians are quite individualistic, which could be tough at the workplaces. There is Budapest and the countryside, which are quite different in salary level and also family values. Nowadays politics are everywhere in Hungary, and can be a “dealbreaker”.
Salaries are not really following the inflation, which was 13.8% in June 2022. Unemployment is low – 3.4% in May 2022 -, its hard to attract a skilled workforce, Mobility willingness is not common for Hungarians.
The usual benefits are private health insurance, cafeteria, car allowance, home office options. The main second language is English, then German.
The economy is driven by exports.
Bulgaria is one of the lowest salaries countries in the EU together with the total cost of the salary. Inflation is high, 16.9% in June 2022. Literacy of English is very high. Unemployment rate is 4.6%. Bulgarians are more open for mobility.
In Greece, the main centre is Athens, 30% of the population lives in the city. High unemployment rate of on average 13.2% in 2022. English is the second language. The inefficient public sector, the bureaucracy & high taxes are holding back foregin investors. The market is dominated by local family companies. The best paid industries are shipping, service, telekom and banking. Greeks are mobile and very international. While the normal trial period is 3 months in Hungary and Bulgaria, in Greece it is 12 months. Greece has the highest total cost of the salaries in the region.
- What are the most demanded positions by foreign companies in your markets?
The main industries in Hungary are automotive, manufacturing/ building materials, and construction candidates are in high demand for blue-collar workers, which is in low supply in the country. We have received most assignments from the construction and manufacturing sectors. Positions in these areas range from finance, sales, business operation IT. Overall, companies are still finding it hardest to recruit for programming and electrical/civil engineering jobs.
In Bulgaria the main sectors are SSC, energy, mining, machine building, agriculture and the primary industrial exports are clothing, iron & steel, machinery. Our main assignments are in manufacturing, production, life science managerial positions.
The main industry in Greece is the service industry (80%), The most demanding positions for us in Greece are new international companies entering the market and supporting them in their entry to the local market and also sales & finance positions mainly.
- And finally, which sectors are you specialised in?
Our practices bring sector specific approach, knowledge, experience and relationships to every client we work with. The focus industries are:
-Life Science & Medical Devices
-Industrial Sector: Construction/Production
Thanks to the Arsis Global Consulting team for joining our initiative! We can't wait for the next e-coffee and future collaborations between the two teams!
More information about this initiative here.