According to a recent joint research by insurance company BNP Paribas Cardif and pollster Medián, Hungarian employees feel more secure in their job positions compared to the same period last year, despite the protracted inflation. The survey found that employees are more optimistic about their position within their workplace, and that and their confidence in the future sustainability of their employing company remains unchanged. However, there is a decrease in overall trust regarding the finding new positions matching their qualifications in case of job loss.
The BNP Paribas Cardif Labour Market Stability Index for this year’s second quarter remained unchanged at 75 points compared to the previous quarter and the same period last year. The CEO of BNP Paribas Cardif, Márk István Kiss, noted in the press release presenting the results of the survey that the rising prices and the challenging economic situation have not significantly impacted labour market processes, and the mood of Hungarian employees seems to be stabilising overall.
The survey revealed that some one-fifth of respondents’ households (18 per cent) could only survive for less than a month in the event of the primary breadwinner’s job loss; the good news is that this is a 4-percentage-point decrease from the previous year. Additionally, the percentage of those who
could manage to stay afloat for up to three months should the primary breadwinner become jobless increased to 31 per cent from 27 per cent,
while those who could last up to six months decreased to 17 per cent.
Concerning job security, 35 per cent of respondents expressed worries about the possibility of losing their jobs within a year, showing no significant change from the previous year (36 per cent) and the previous quarter (32 per cent).
Regarding the likelihood of taking out insurance to as a safety net in case of unemployment, there was a 5-percentage-point decrease from the beginning of the year, with only a third of respondents expressing definite willingness to opt for such insurance.
Despite the overall positive outlook on their current positions within the company, there was a slight decrease in employees’ perception of job stability at their current workplace from the previous quarter, but it remained unchanged compared to the previous year. The index showing how confident employees are in finding new positions matching their qualifications in case of job loss also showed a 3-point decrease compared to the same period of the previous year. 71 per cent of the interviewees said they believe their company will continue to exist for more than five years, regardless of their current positions, a 2-percentage-point decrease from the previous quarter and the same period last year.
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