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Stores begin to reopen on Sunday In less than a week’s time, the government reveresed its stance on the Sunday closings law, Parliament approved the change and retailers began to announce that they were waiting for customers. 7

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Stores open Sundays: Let´s go shopping! The government is to be congratulated on revoking the year-old law requiring most retailers to close on Sundays – a measure frequently lambasted in this column. It is true the decision was apparently made with the same kind of cold political calculus that drove officials to create the legislation in the first place. But motives are not important: An anti-business measure has been dismantled, and we are planning to celebrate by going shopping this weekend. We can only hope that political calculus, common sense, or any combination of motives, will drive further improvement in Hungary’s business environment. More foreign investors are showing a willingness to enter our market, but the flow of foreign direct investment is still slowed by worries over the transparency and predictability of the Hungarian government. A survey of current and potential investors in this country, published on April 12 by the German-Hungarian Chamber of Commerce, found that roughly 60% of the respondents are concerned about the lack of predictability in this government. Major credit ratings agencies – Fitch, Moody’s and S&P – all mention a lack of transparency in governance when they explain why Hungary’s credit rating has thus far kept its junk status. Clearly there is need for improvement. When the law requiring Sunday closings was passed in late 2014, officials claimed the move would allow workers to enjoy a day of rest with their families. It was also obviously a gift to the CBA supermarket chain’s owner, who happens to be a major contributor to the ruling Fidesz party. Due to special loopholes in the law, many CBA branches could stay open on Sundays while their competitors had to close.

Polls consistently showed the unpopularity of the Sunday closings law, but the government made the political calculation of ignoring those polls. Then, early in April, the opposition Socialists overcame legal challenges and a group of intimidating thugs at the election office to force a referendum on the issue. Facing a loss in the voting booth, Fidesz leadership quickly revoked the law. The change of heart on Sunday closings was obviously made for political reasons: Fidesz wisely denied their opponents an opportunity to embarrass them with a long public campaign against the law, a campaign the Socialists seemed likely to win. But regardless of the reasons, the defeat of the law was a victory for business. More concessions for political reasons seem to be in the offing. An unnamed Fidesz source reportedly said in early April that the party plans to go into full campaign mode by September, in preparation for the general election in early 2018. Shortly after, the government announced a budget proposal that cuts the VAT on food and internet services – and promised more cuts to the banking tax are in the offing. In the past, the government has shown a willingness to ignore the business community’s calls for a more transparent, commerce-friendly environment. Apparently, they are now feeling enough pressure to make some politically calculated concessions, and that is how democracy should work. There is a lot more that needs to be changed to make Hungary a better place to do business, and to live, but we are grateful for this one victory. See you at the mall!

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Above, Budapest’s Ecseri flea market in 1964 and, at left, in 2013. The banner on the picture at left reads: ‘Open on Sundays too’. The Hungarian government has just revoked legislation that restricted retailers from opening on Sundays. (See story Page 7.)

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Tax cuts planned for 2017 The last full year before the 2018 election will apparently see a looser budget under proposals revealed by the Economy Ministry. ZSÓFIA CZIFRA

Next year’s budget will be about tax reduction and home building, Economy Minister Mihály Varga announced on April 13. The minister added that the deficit target for next year is lifted to 2.4% from the previously communicated 1.7%, thus creating elbow room to cover higher expenditure and the costs of tax reduction. The higher deficit ratio will result in a slower debt reduction, Varga admitted in an interview published in business daily Világgazdaság, adding that the government still expects the debt rate to decline further, nonetheless. Previously, the government was counting on a more dynamic, 2.5 percentage point (pp) debt rate reduction. While the National Bank of Hungary projected 1.4 pp, and the IMF a 1.1 pp reduction, with the modified deficit target it could now fall below 1 pp and be somewhere between 0.5 and 1 pp, the paper calculated. Besides the revised deficit target, faster economic growth would also balance the loss derived from tax reductions and the costs of home building, according to the economy minister. The ministry projects 3.1% GDP growth for 2017, up from this year’s planned 2.5%, and this, paired with additional revenues created by economic whitening is also expected to cover the loss of revenues on tax cuts and rising expenditures related to larger home building subsidies. As for whitening the economy, it is difficult to translate that into numbers – the Economy Ministry earlier estimated a few tens of billions of forints might come from this, economic site portfolio.hu has recalled. Varga also talked about lowering the value added tax (VAT) rate on certain food products such as milk, eggs and poultry next year from the current 27% to 5% (this follows a similar previous reduction in VAT on pork). This would cost some HUF 70-75 billion, the economy minister revealed. The cabinet also plans to reduce VAT on restaurant services from 27% to 18%, and further to 5% in 2018, Varga said. Following the announcement, the vegetable and fruit sectors, mills, bakeries and fisheries are also lobbying for their own VAT reductions.

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Deutsch: ISPs will have to pass on savings Internet service providers will be required to pass on the planned VAT rate reduction for internet services, which would be cut from 27% to 18% in the new budget, Tamás Deutsch, the prime minister’s commissioner for the Digital Welfare Program, said on April 18, according to reports. During an interview with state-owned all news channel M1, Deutsch, who was in charge of conducting an online national consultation on internet usage in Hungary, said that under the legislation that will come into effect next year, ISPs will be legally bound to pass on the VAT reduction. ISPs will also be required to offer even cheaper base packages from next year, he added. According to the official, subscribers will save approximately HUF 13-15 billion as a result, however, the increase in the number of subscribers could offset the resulting drop in budget revenue, Hungarian news agency MTI reported. (Photo: kormany.hu)

The bank tax will also be further lowered next year, although negotiations with the European Commission are still under way, Varga said. He also talked about planned wage hikes in 2017, emphasizing that the necessary funding

will be included in next year’s budget. There was also a mention of lowering the VAT on internet services. The budget for home building subsidies will also be raised by HUF 100 bln next year, as the ministry says there will be an increase

Numbers to watch in the coming weeks February retail trade data (a second estimate) will be published on April 25 by the Central Statistical Office. Employment and unemployment figures for the January-March period will come out on April 28. The following day will see the March industrial producer prices. May will start with external trade in goods figures and March retail trade data (first reading). On the monetary side, a further cut in the base rate is almost certain; only the extent of it might be a surprise on April 26. National Bank of Hungary Deputy Governor Márton Nagy recently talked about a 15 basis point cut that would bring the key rate down to 1.05%. Still, the previous move from the Monetary Policy Council came as a surprise too, so one can never be sure until the decision is announced.

in the volume of construction, due to the recently introduced state subsidies. Varga again confirmed that the 2017 budget is planned with zero operational cost – which is not to be mistaken for the break even budget mentioned by Prime Minister Viktor Orbán in February, as, according to plans, next year’s budget will have a new structure and will contain three sections. The first will be about the state’s operational expenditures and revenues, the other two will contain local and EU funds. The first section, the one with the state’s operational costs, is expected to have a zero balance. So, all in all, while the government communicates that it maintains strict budget discipline, now it looks like there is actually a major fiscal loosening on the way in 2017. Perhaps it is no coincidence that this looser budget will be place in the lead up to the election in early 2018.

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NEWS IN BRIEF KSH: Hungaryʼs average gross earnings up 5.9% Average gross earnings in Hungary increased by 5.9% in the period of JanuaryFebruary as compared to the same period a year earlier, Hungary’s Central Statistical Office (KSH) reported on April 20. KSH said that the 5.7% rise of the minimum wage and the guaranteed minimum wage, as well as the salary increase of armed forces and the payment of an additional allowance for those working in the social field had an impact on earnings growth. According to data by KSH, with the 1 percentage point reduction in the rate of personal income tax, the rise of average net earnings was 7.5% higher than that of average gross earnings. KSH added that along with the 0.6 percentage point rise in consumer prices, real earnings increased

by 6.9%. Wages and salaries, according to the SNA concept, rose by 5.8%, KSH added.

Hungarian government plans cuts to fostered workers As part of the Hungarian government’s attempts to reduce bureaucracy, the number of fostered workers is expected to be reduced as of this fall, state secretary Nándor Csepreghy said at a business forum on April 20, according to reports. According to the state secretary, it would be “inappropriate” for people whose jobs are being cut in the public sector to “crop up” among fostered workers, Hungarian news agency MTI reported. He stressed that former public sector staff should find work on the labor market, rather than entering the social welfare system,

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MTI reported. Citing recent data by the Hungarian Central Statistical Office, MTI reported that approximately 194,000 Hungarians are currently participating in fostered work schemes.

Association: Bank levy reduction could boost lending The reduction of the bank levy, proposed by the Hungarian government, could support the placement of new loans worth approximately HUF 200 billion, vice-president of the Hungarian Banking Association András Becsei said on April 18, according to Hungarian news agency MTI. During an interview with Hungarian state-owned all-news channel M1, Becsei said the cut to the bank levy is expected to lead to increased lending and a cut to bank sector costs which would allow banks to provide more competitive services, MTI reported. Varga announced on April 15 that the Hungarian government is planning to cut the bank levy by HUF 20 bln in 2017 for the banking sector as a whole. The minister also said that the government is considering incentives to boost the number of bank card payment systems in Hungary in order to cut the amount of cash in circulation.

HVG: Gov’t official’s company got good price on state firm The state asset manager allegedly sold shares in real estate management firm BIF Nyrt. for less than their actual value in a tender involving only one bidder: a firm owned by a government commissioner, HVG reported on April 19. HVG reported in November that government commissioner Mária Schmidt and her family company purchased a 5% stake in BIF (Budapesti Ingatlan Hasznosítási és Fejlesztési) from the state. The shares are part of a package that the government nationalized from private pension fund holdings, according to HVG. Schmidt’s company, PIÓ-21 Kft., bought 1,339,488 BIF shares for HUF 380 apiece, according to HVG. The National Asset Manager, which oversaw the sale, reportedly said the share price was above the market, but just a few months before the transaction BIF said it wished to buy its own shares for HUF 500 a piece, according to HVG.

MNB weighs future of interest-rate swaps

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The National Bank of Hungary (MNB) will weigh whether the interest rates swaps it offers lenders who buy government securities are “still necessary” or have outlived their purpose, central bank deputy governor Márton Nagy said in an analysis published on April 15, Hungarian news agency MTI reported. The MNB will consider the matter as part of a review of a program it launched two years ago giving banks incentives to buy government securities, rather than keep their liquidity in central bank deposits. By boosting lendersʼ holdings of forint-denominated FX debt, the MNB has supported a reduction in the level of FX state debt thereby the necessity of refinancing this debt in forints. The MNBʼs Self-financing program has “achieved the goals announced at its start”, Nagy said, citing a “significant reduction” in the external vulnerability of Hungaryʼs economy over the past couple years and a fall in longterm government security yields. He

added that the phasing out this month of the MNBʼs two-week deposit, earlier its main sterilization instrument, marks the close of the restructuring of its toolkit. Conditions of existing instruments may change, though, he added. Demand for the central bankʼs IRSs, which it uses to share some of the interest rate risk taken by banks who buy long-term government securities, has been “intensive” over the past two years, with stock exceeding HUF 1.5 trillion in April, Nagy noted. However, demand dropped off this spring, evidence of banks adapting to the restructuring of the MNBʼs policy tools during the run of the program, he added. “The reduction in need for banks to adapt, as well as the healthier debt structure, creates a new situation with a view to the central bankʼs IRS tool. ... A review of the expected changes to the value added of the IRS tool is worth reviewing, as well as the necessity and justification of its use in the future,” Nagy said.

Hungarian PM proposes ten-point action plan Hungary’s Prime Minister Viktor Orbán put forward a ten-point action plan that he says will protect the European Union’s external borders, during a meeting organized by the Centrist Democrat International (CDI), a coalition of centerright parties, in Lisbon on April 15, according to the official website of the Hungarian government kormany.hu. During the meeting, Orbán presented his “Schengen 2.0” plan, which he later told public media was an improvement on the European Commission’s management of the “migration crisis” that he said was flawed because it focused on reforms to the asylum system rather than on the protection of EU borders, kormany.hu cited the prime minister. The proposal has been shared among Visegrád countries and leaders of EU member states and will be presented by Orbán in Germany and other European countries in the coming weeks, kormany.hu reported. Orbán, who is one of the vice-presidents of the CDI, reiterated his objection to Brusselsʼ migrant quota, which forces EU member states to address demographic and economic problems through immigration, according to the web portal. The prime minister said that Hungary’s demographic and economic concerns can be remedied “through prudent family and economic policy” and not through rules imposed by Brussels, kormany.hu reported. He added that the planned referendum regarding Brussel’s resettlement quota will be put forward to the Hungarian people soon, kormany.hu added.

Lázár on U.S. human rights report: Hungarians donʼt want nonHungarians living here

Hungary’s Cabinet Chief János Lázár on April 14 dismissed a United States Department of State report on ailing human rights in Hungary, saying it mostly focuses on the migrant issue and that Hungarians clearly do not want nonHungarians living in their country. In the part of the 2015 Country Reports on Human Rights Practices dealing with Hungary, the U.S. State Department said the “most significant human rights problem during the year was the government’s handling of large numbers of migrants

2016. 04. 20. 22:10

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Szijjártó, American companies discuss competitiveness in Budapest Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó and leaders of the American Chamber of Commerce (AmCham) on April 19 pose after a meeting to discuss how to improve competitiveness in Hungary and provide a stable environment for investments, according to reports. The ministry said in an announcement that the meeting was attended by 15 business leaders. The foreign minister said at the meeting that the Foreign Affairs and Trade Ministry and the National Economy Ministry are drafting a proposal to improve workforce mobility and research and development activities in the country, according to the announcement. Approximately 1,600 U.S.-owned companies operate in Hungary, employing a total of 100,000 people, Hungarian news agency MTI noted. (Photo: MTI/Szigetváry Zsolt) and asylum seekers seeking to transit the country, which was marked by xenophobic rhetoric and a lack of humanitarian aid”. Commenting on this remark, Lázár said a majority of Hungarians will agree that only Hungarians should live in their country, hvg.hu reports. This remark comes as the Hungarian government collects signatures for a referendum asking citizens to decide on the refugee quota system of Brussels. Hungary’s Prime Minister Viktor Orbán said in connection with the referendum last week that Hungarians will make a decision whether to allow Brussels to decide on who should live in Hungary and who should not. As for the section of the report listing antiSemitism as a problem in Hungary, the cabinet chief said anti-Semitism was the lowest in Hungary among all European countries and that immigration increases the risk of anti-Semitic sentiments. “Try going to the synagogue in France on a Friday evening,” Lázár said, according to reports.

Szijjártó: Freedom House criticism of Hungary is ‘nonsense’ A Freedom House report saying that democracy in Hungary is deteriorating is “nonsense”, Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement on April 14. “The contents of the report are nonsense, as well as the fact that people sitting in offices thousands of kilometers away from Budapest are talking about conditions in Hungary,”

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the minister said in the statement. He added that these and other comments in the report aim to shed negative light on the country due to the stance it has taken in the “migrant crisis” which Europe is currently facing. “We have been elected by Hungarians; our tasks and responsibilities make us act in a way that maintains the interests and the security of Hungarians,” Szijjártó added.

difficult to analyze. The journalist was able to acquire the files of studies carried out by Századvég and commissioned by the Hungarian government between 20122014 under a suit she won in November, according to reports.

source reportedly said Fidesz would seek to keep the refugee crisis in the news if it could, but the agreement between the EU and Turkey to reduce the migrant flow probably means the issue will not stay topical until 2018.

Report: Századvég delivered ‘nonsense’ for HUF 4 bln state contract

Unnamed source reportedly says Fidesz will go into campaign mode in September

Hungary’s governing Fidesz party will seek to address concerns about education, public administration and energy services by September, and then focus on campaigning for the 2018 elections, an unnamed party source reportedly told Hungarian daily vs.hu on April 7. The source reportedly said there is no time to address health care reform by September. Apparently, this means the government will not address major health care reform until after voting in 2018, vs.hu reported. The online daily noted that, back in 2014, Hungary’s Prime Minister Viktor Orbán reportedly set September as a deadline for his fellow party politicians to execute the plans of the party. The plans reportedly included the creation of more Fidesz-friendly media, through several steps, such as: establishment of Magyar Idők and online tabloid 888.hu; efforts to ensure that the ownership of TV2 is Fidesz-friendly; and transformation of the Hungarian state-owned media, with moves such as the establishment of state all-news TV station M1, vs.hu reported, citing its source. The daily’s unnamed

Hungarian government submits bill to fine-tune financial system regulations

An investigation by vs.hu revealed that information delivered by governmentfriendly consultant firm Századvég as part of a HUF 4 billion contract with the government contains thousands of pages of data that is “professionally nonsense, completely irrelevant, and in many cases could be produced with the help of data analysis software in seconds”, the online news portal reported on April 11. Századvég responded in a statement sent to state-owned news agency MTI, saying that several of vs.huʼs claims are false and that it would start a libel suit against the portal. In February, after a three year legal dispute, vs.hu journalist Hajnalka Joó obtained 77,000 pages of documents provided by Századvég under the government contract, vs.hu reported. According to news portal 444.hu, the files supplied by the government on seven pen drives are in an unsearchable, unprintable format, which made them

Hungaryʼs economy minister submitted a bill to lawmakers on April 19 that would help fine-tune regulations governing the countryʼs financial intermediary system and transpose European Union directives into national law, Hungarian news agency MTI reported. “The goal of the bill is a revision of some elements of regulations concerning the system of financial intermediation as well as the implementation of some European Union legal measures in national law,” according to the justification of the proposed legislation. The bill contains changes to rules affecting the areas of lending, capital markets, insurance and pension funds, and these changes require that amendments also be made to the law on the National Bank of Hungary (MNB) which is in charge of oversight of the financial sector. The bill would establish two categories for securities in the capital markets act based on risk to make evaluation criteria “more precise and easier to track”. It would also allow the bourse to operate “sub-markets tailored to the needs of SMEs” such as crowdfunding platforms.

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Panama Papers in Hungary: Two officials so far The journalist heading the local aspects of the worldwide probe says that more names are likely to come to light as investigations continue. ANIKO FENYVESI

Following the explosive “Panama Papers” leak in early April, investigations were launched by Hungary’s National Tax and Customs Authority (NAV) of two Hungarian politicians and a number of other individuals and firms that are located in Hungary or have Hungarian affiliations. But NAV was not the first to get a hold of the information that triggered the investigation. Independent Hungarian investigative journalism organization Direkt36 was in fact the first in Hungary to expose the leak, thanks to its membership in the original group of investigative journalists looking into the “Panama Papers”. Local journalist András Pethő, who handled the probe for Direkt36, described his work on the Panama Papers during an April 13 press briefing in Budapest. The 11.5 million files that comprise the “Panama Papers” originated from the database of offshore investment consultant firm Mossack Fonseca based in Panama and were leaked to two staffers from the Süddeutsche Zeitung in early 2015 under mysterious circumstances. Overwhelmed by its find, the German newspaper called on the help of the International Consortium of Investigative Journalists (ICIJ), to help comb through the documents. The ICIJ’s contact in Hungary was Pethő, a seasoned investigator who met with his German colleagues and 100 other journalists in September to find out more about the leaks. Through the efforts of the ICIJ, more than 370 journalists from 76 countries have been working diligently to decode information contained in the documents. What began as a casual involvement for Pethő nine months ago has evolved into an all-encompassing project that he said has demanded much of his attention. “There are about 100-plus companies or persons connected to Hungary in the database,” Pethő said, adding that there is still a great deal of work needed to correlate the data. “In this investigation, the longest time was spent on the research because we had to find the potential stories. I started to focus on this about two months ago. That was when I identified the first two stories.”

Two officials identified Pethő said he was most interested in politicians at the start and soon enough he identified a couple of names. “Zsolt Horváth kept a pretty low profile. He was an MP in Parliament for 16 years, but I had no idea who he was,” Pethő explained. Horváth was named as the director of a company based

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in the Seychelles Islands in 2013, while he was still a Fidesz MP, but this was never mentioned in his declaration of assets, according to Pethő. Just four months after retiring from politics, Horváth acquired ownership in another company based in the Seychelles, Direkt36 claims. “The second individual is László Bodvai, although he was not directly implicated in this. Actually his name doesn’t even appear in the documents,” Pethő said. He said he discovered Boldvai – who has since resigned as an MP for the opposition Socialist party – inadvertently in the course of his research. “As I was going through the list, this name Csilla Konti came up, but it didn’t ring any bells. On my second search I found an obscure website and among the comments was one that László Boldvai’s wife was Csilla Konti,” Pethő explained. As a rural secondary school teacher, Konti had acquired an offshore company registered in Samoa, and on the day of the acquisition, measures were taken to facilitate the transfer of €255,000 to that company from a Swiss bank account, according to an earlier report from Direkt36. “Boldvai became relatively wellknown in connection with the greatest corruption scandal of the ’90s, the so called Tocsik-case. He was even charged with blackmailing, but he was acquitted and his political career continued seamlessly,” the report from the portal said. In the case of Konti, Pethő was able to follow some of the money flowing through her companies. “Actually that wasn’t coming from the leak but from the Hungarian company registry because Konti’s Samoan company had a firm in Hungary,” he said. While he is investigating only those Hungarian names that have surfaced in connection with the “Panama

“If you are a politician and you have offshore interests or your wife is a math teacher at a rural high school and she drives a BMW and has a secret Swiss bank account with lots of assets, then that raises questions.” Papers” investigation, Pethő said there are probably many other high profile Hungarians who bank offshore but were not caught up by this leak, and may never be exposed. “It is a matter of perspective,” said Pethő. Mossack Fonseca is only one of the many offshore providers, they also don’t have an office in Budapest, he adds. “We know that there are certain law firms and companies that brought clients to Mossack Fonseca but I know of other offshore providers present in Budapest, so some Hungarian politicians would more likely go to these directly,” Pethő says.

Offshore companies: a legal quagmire “Owning and using offshore companies in itself is not illegal; actually it makes sense in some regards, but if you are a politician and you have offshore interests or your wife is a math teacher at a rural high school and she drives a BMW and has a secret Swiss bank account with lots of assets, then that raises questions,” explained Pethő. “But we need to be really careful about how we present this information.”

Investigative journalist András Pethő of Direkt36. What turns it into a criminal offense is when those companies are used for tax evasion or money laundering, he said. It’s the job of one’s lawyer to ensure that all the cracks are sealed and everything is essentially business as usual. The ruling Fidesz party has criticized the former Socialist government for its “offshore knights” and Hungary’s Prime Minister Viktor Orbán said in 2010 that during his governance the era of “offshore knights” would come to an end. Nonetheless, Pethő said, his investigation, and those of the ICIJ are continuing, and more Hungarian names are likely to turn up.

2016. 04. 20. 22:10

News 07

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Budapest Business Journal | April 22 – May 5, 2016

Sunday closings law killed; stores rush to open CBRE: Change good for business Real Estate company CBRE Hungary said the repeal of the Sunday closings law was highly beneficial for the retail and real estate industries. The company has recorded strong retail sales growth and robust turnover improvement over the last 12 months in key Budapest schemes. However, major shopping centers did start running beyond their full capacity on Fridays and Saturdays as clear proof of the fact that Budapest’s retail infrastructure cannot cope with such a shift of demand from Sunday to other days of the week, according to CBRE. “Schemes with entertainment functions were affected most, as Sunday was traditionally the second strongest day in the week. This recent cancellation will help boost both turnover and footfall for the the rest of 2016 and will solve the operational difficulties caused by the Sunday closing,” said Zsolt Kákosy, head of asset services at CBRE Hungary. Parliament discussing repeal of the Sunday closings law on April 12. (Photo: MTI/Attila Kovács)

The government reversed its position on the law after it became clear a referendum against it would be held. BBJ STAFF

After Parliament voted April 12 to scrap the Sunday closings law, the majority of retailers in Hungary announced that they would open from May 8, although some had already opened for business on April 17.

Sports equipment retailer Hervis’ opened a handful of stores on April 17, and the chain’s remaining stores were The Hungarian government proposed opening hours eight days prior to their to open the following Sunday. Sports legislation putting an end to a year- shifts, according to reports. Tesco and equipment retailer Decathlon wrote on old law that required retailers to close Penny Market paid 200% of the regular its website that it would open on May on Sundays on April 11, and Parliament wage to employees working on Sunday, 8 for the first time since the legislation approved the legislation the following day, April 17, according to online daily origo. was put in place, and asked customers to hu. Tesco told the daily that customers vote on preferred opening hours through in an expedited procedure. The government’s reversal on Sunday were happy to have the extra shopping day. its website. closings followed an April 6 court decision German chain Aldi also opened its Electronics equipment retailer Media to allow the opposition Socialist party to stores on April 17 and offered coupons Markt said it would negotiate terms seek signatures for a referendum that to customers who spent more than HUF with employees so that it could provide would have revoked the law. Polls showed 5,000, according to reports. German optimal service during Sunday openings, wide support for the potential referendum, retailer Lidl only opened two of its stores and once negotiations are complete all its and government officials said they would on April 17, according to the company’s store could be opened as early as April 24. prefer to eliminate the law rather than go website, but announced that all would D.I.Y. retailer Praktiker announced that it would open on May 8 for the first through the distraction of a referendum. open the following Sunday. Food retailers such as Penny Market and Retailer Spar announced that it would time this year, while furniture retailer Tesco opened most of their stores on April gradually open all its stores, and had IKEA announced that it would open 17, operating with staff who volunteered for already opened some outlets on April 17, all its stores from May 22 to enable its the shift, as employers are legally bound while French chain Auchan opened the employees time to prepare for the revised to inform employees about changes in majority of its Hungarian stores. hours of operation.

Tens of thousands said to join teacherʼs strike BBJ STAFF

A day-long strike held by Hungarian teachers on April 20 was joined by approximately 25,000 people and 1,185 educational institutions around the country, said the head of the Teachers’ Union (PSZ), Mrs. István Galló, at a press conference that afternoon. Galló called the strike a success, with a large proportion of participation, given that altogether 140,000 people work in the Hungarian education sector. She

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added that there were institutions from which all teachers participated in the strike, while at others only some of the teachers chose not to work. The strike was called after teachers failed to reach an agreement with government following seven-hour negotiations on April 5. At the time, Galló said that, though there were advances during the negotiations, the parties had been unable to reach agreement on several important questions, and therefore a strike was needed. She said outstanding issues that have

not been resolved include teachers’ funding for schools, where basic supplies demands to decrease the number of are said to be missing. centrally required classes and to have The Hungarian government is more freedom in textbook selection. She considering raising spending for higher said there was also no agreement on the education to approximately HUF 240 details of the administrative system that billion in the 2017 budget from this the government promised to replace the year’s HUF 197 bln, state secretary for current centralized administration of education László Palkovics said on April the Klebelsberg Institution Maintenance 15, following a continuation of talks with teachers. Center (KLIK). Teachers have complained that the The full-day strike on April 20 came central education administration is too after an informal educators group, called obtrusive in the classroom. They have Tanítanék, organized a two-hour-long also called for pay raises, as well as better strike on April 15.

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2Business BBJ

COMPANY NEWS

E.ON to spend over HUF 4.5 bln on maintenance, investments German-owned electricity and gas provider E.ON said on April 18 it will spend more than HUF 4.5 billion on infrastructure maintenance and investments in North Transdanubia and South Transdanubia this year, according to Hungarian news agency MTI. Lajos Gelencsér, CEO of the company’s regional unit in South Transdanubia said it will spend nearly HUF 700 million reconstructing and developing its electricity network and a further HUF 360 mln on similar projects for the gas network in the area in 2016. Ferenc Csulak, CEO of the regional unit in North Transdanubia announced that the company would spend HUF 3.5 bln to expand the electricity network, establish new substations and perform maintenance work in northwestern Hungary.

Hungarian Tesco promises wage raise

The management of Tesco Hungary and the associated workers’ unions are approaching an agreement on raising the wages of Tesco workers, following an earlier promise by Tesco to raise the wages of all its employees by 17%22%, Hungarian online daily origo.hu reported. The wage increase, which is scheduled for June or July, would apply to all Tesco employees, Csaba Bubenkó, head of the Retail Workers’ Independent ADVERTISEMENT

Union (KDFSZ), said, according to origo. hu. The union is hoping that by the end of negotiations Tesco will agree to raise wages gradually, and provide the same wages for those employees who work in Budapest as those who work in the regional stores, origo.hu reported. Bubenkó added that the supplemental wage for Sundays was not discussed at this time. Earlier, the union asked Tesco to raise wages by 20% from April 1 and by a further 15% from September 1, however, Tesco was not willing to fulfil these requests, and workers were planning a strike as a result, according to reports.

Italian Datalogic opens €9 mln plant in Hungary Italian-owned electronics producer Datalogic opened its €9 million plant on April 15 in Balatonboglár, Hungary, near Lake Balaton, according to reports. Approximately 200 people are expected to work at the 7,000 sqm factory, Hungarian news agency MTI reported. The company reportedly purchased land from the local council to expand the plant. Datalogic Group chairman-CEO Romano Volta said at the inauguration that the investment in Hungary is part of the company’s growth strategy to make its supply chain more efficient, MTI reported. The plant is expected to turn out more than 1.2 million units annually, which will be exported to more than 70 countries, said Volta.

A-Híd completes HUF 1 bln investment in Hungary Hungarian construction company A-Híd on April 15 completed a HUF 1 billion investment, through which the company purchased machinery to reduce costs and enhance the efficiency of railway construction and maintenance projects, according to reports. The project was supported with a European Union grant, which covered 40% of the investment costs, CEO László Sal said, according to Hungarian news agency MTI. The consortium of which the company is a member has received approximately 150 contracts with a total value of HUF 354 bln since 2008, MTI noted. A-Híd received HUF 187 bln of the consortium’s commissions.

Schaeffler to invest HUF 25 bln in Hungary The Hungarian subsidiary of German automotive manufacturer Schaeffler is planning to invest HUF 25 billion at its Hungarian plant in Debrecen, Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó announced on April 14, according to reports. The Hungarian government is supporting the investment with a HUF 4.5 billion grant, and the expansion is expected to create 510 new jobs in Hungary, the minister said, according to Hungarian news agency MTI. With the investment the Hungarian plant will be expanded and new technology will be installed, Péter Szabó, the CEO of Fag Magyarország Kft. said. The project is scheduled to wind up by 2017, Rainer Lindner, the CEE regional CEO of Schaeffler said.

Linardics opens HUF 280 mln production hall in Hungary Hungarian family-owned metal parts manufacturer Linardics on April 16 inaugurated a production hall at its base in Székesfehérvár, through an investment of HUF 280 million, according to reports. The investment created six new jobs at the base. The company invested HUF 102 mln to construct a 500 sqm hall and an additional HUF 178 mln to purchase a metal coating machine, Hungarian news agency MTI reported. Grant money covered half the cost of the coating machine, MTI added. Last year the company had a profit of HUF 28 mln on ADVERTISEMENT FLAT TO RENT. Spacious, bright and calm maisonette apartment next to Castle District, with a view to Parliament and Castle Hill, in a street with little traffic, but close to public transport, in a decent, neat house with 10 flats, lift and garden to be rented directly from the owner. The apartment consists of 105 sqm, 3 rooms, air conditioning, marble floors, built-in kitchen, spacious closets, two bathrooms and a separate toilet and is in an excellent shape. Monthly rent is 850 EUR plus utilities and caution fee. English speaking contact to the owner, no real estate agent. Please call: +36 20 33 45 199

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revenues of HUF 850 mln, Iván Linardics, the founder and owner of the company that employs 49 people, said.

Nestlé to invest HUF 20 bln in Hungarian plant The Hungarian subsidiary of foodproducer giant Nestlé is investing more than HUF 20 billion at its pet food production plant in Bük, officials announced at a press conference in the Hungarian Parliament on April 14, according to reports. The Hungarian plant is expected to become the biggest pet food production center in Europe. The investment is expected to create 70 new jobs, raising the current headcount to almost 1,000, Hungarian news agency MTI reported. Hungary’s National Economy Minister Mihály Varga said at the press conference that both the Hungarian and the Swiss governments are committed to strengthening economic ties between the two countries. The minister added that Switzerland is among the ten biggest investors in Hungary. Currently 300 Swiss companies employ approximately 40,000 people in Hungary while foreign trade between the two countries rose by 10% last year.

Hungary’s winery renamed Grand Tokaj

Hungarian state-owned winery Tokaj Kereskedőház has been renamed Grand Tokaj, according to a press release issued on April 19. The brand redesign of the firm – which will be the wine sponsor for the continental selection of the next Bocuse dʼOr taking place in Budapest on May 10-11 – is being assisted by Austrian wine expert Lenz Moser. The Hungarian winemaker added that the bottling plant, currently being built with a HUF 4.4 billion investment, could be completed by fall. The plant is expected to turn out ten million bottles annually. The grapes used to produce wine at Grand Tokaj are purchased from smallholders in the renowned Hungarian wine-growing region of Tokaj across an area of approximately 1,150 hectares, the statement added.

Magyar Posta seeks solutions for smaller post offices Hungarian state-owned postal company Magyar Posta is planning to modernize high-traffic post offices and find “costeffective solutions” for the operation of smaller outlets, chairman-CEO Zsolt Szarka told journalists on April 15, according to Hungarian news agency MTI. The infrastructure at many of Magyar Posta’s low-traffic post offices costs a great deal to run, and renovating the several hundred offices would amount to HUF 4-5 billion, Szarka said. Such post offices stand empty for about five hours a day, and at more than 400 of these, the number of letters mailed averages just one

2016. 04. 20. 22:10

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2 Business

Budapest Business Journal | April 22 – May 5, 2016

a week, he added. Magyar Posta’s capital expenditures came to HUF 25.2 bln in 2010-2012 and to HUF 33.6 bln in 20132015; still, 600 post offices operate entirely offline, he said. The number of staff that will be affected by reorganization will be under 1,000 of the 30,000 employed by Magyar Posta, said state secretary Zsusza Németh. The staff at some 300 post offices are already outsourced, she added. Magyar Posta has about 2,200 post offices across the country. Németh said postal services could be made available at certain financial institutions by the fourth quarter of this year. Magyar Posta earlier formed a partnership with the integrator of Hungary’s savings cooperatives with the aim of boosting lending activity and developing financial infrastructure and know-how in small towns and rural areas.

Hungarian government, NNG ink ‘strategic cooperation’ The Hungarian government and Hungarian-founded navigation software developer NNG on April 20 signed a “strategic cooperation agreement”, under which the company will remain committed to continuing development in the country, according to a press statement issued by the Hungarian Promotion Investment Agency (HIPA). The agreement is the 66th of its kind that the Hungarian government has signed, according to the statement from HIPA.

Ground breaking for new ThyssenKrupp plant in Jászfényszaru ThyssenKrupp CEO Dr. Heinrich Hiesinger speaks during an April 20 ceremony to mark the beginning of construction on the German automotive firm’s new factory in Jászfényszaru. As a result of the project, worth about HUF 30 billion, nearly 500 jobs will be created, the company said, adding that, after the completion of the greenfield investment, steering systems and cylinder head-integrated camshafts will be manufactured in Jászfényszaru.

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Prohuman names new head of operations

ELMŰ-ÉMÁSZ Customer Services appoints new head of customer services

Avon Budapest IT Center names new talent management advisor

Csaba Hegedűs was recently appointed head of operations at the Hungarian market leader HR services company, Prohuman. He is responsible for Prohuman Diákmunka which is the student agency of Prohuman, the youngest and fastest growing member of the group. Hegedűs has previously worked for Adecco and Trenkwalder, and has more than 13 years experience in HR services, escpecially in the temporary staffing sector. “It is a pleasure for me to work for Prohuman, a company with a full portfolio of HR services,” Hegedűs said. “As the head of operations of Prohuman Diákmunka my main task is to implement and consolidate the high standards of service within the student agency. There is a lots of work ahead of us, but I am sure together with my team we can reach our common goals, to build a strong, innovative and profitable firm that plays an important role in the labor market.”

Peter Rosta was recently named head of customer service at ELMŰ-ÉMÁSZ Customer Services Ltd. after holding several management positions in this area. Rosta began his career in the telecommunications industry at Pannon GSM (now Telenor). He also headed the Unisys SSC in Budapest and worked for Vodafone Hungary as well. In his current position, he is responsible for all customer service activities in the consumer segment, from the contact center to the customer offices in the region. “It is a pleasure for me to work for this company and use my experience in another industry than the one I was working in for these many years,” Rosta said. “Although customer service exists in every segment of different companies, my aim is to develop new processes, let the leading ideas be implemented and support colleagues to reach our common targets. I believe in teamwork and I always encourage my team to apply a new way of thinking in their everyday routine.”

Sára Papp-Váry joined Avon’s Budapest IT Center of Excellence HR team as Talent Management Advisor on February. The Budapest SSC, which provides IT solutions to serve AVON Business EMEA-wide is an exciting place to be these days, Papp-Váry said. In her new position, she supports planning, driving and delivering appropriate recruitment initiatives and activities that bring top talent into the organization. Papp-Váry pursued a career in IT executive search & selection/recruitment and gained insight into Avon Hungary’s Gödöllő HR operation, as an interim HR manager, prior joining the IT SSC.

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Mercedes-Benz Hungary welcomes new CEO Jörg Schmidt was appointed CEO of Mercedes-Benz Hungária Kft. and EvoBus Hungária Kft., as of the beginning of the year, according to a press release issued on April 6. Schmidt began working at Daimler

in 1988, and has held several positions related to sales and finance in Italy, South Africa, Singapore, Egypt and Germany. As of 2014 he was responsible for sales activities in Italy, Turkey, Romania, Slovakia, Argentina, Canada, Mexico, a number of Latin countries where Daimler is present, and Hungary. The new leader will continue on the path of the companyʼs sustainable growth in terms of sales, while maintaining a strong connection with the network of Mercedes-Benz branches, and offering the highest customer experience possible. “I see great opportunities for the Mercedes-Benz brand in the Hungarian market,” Schmidt said.

UTA Hungary welcomes new leader Kinga Réthy was appointed the regional director of UTA Magyarország Kft. by parent company UNION TANK Eckstein GmbH & Co. KG (UTA), according to a press release issued on April 13. Réthy, replaces István Nagy who is leaving the firm for retirement. Her chief tasks include the operations of the Hungarian sales of service cards that can be used at gas stations, and she will be supervised by the Central Eastern European Regional Director Gabriel Moulènes, according to the press release. Before joining the company, Réthy worked for Normbenz Magyarország Kft., the operator of Lukoil gas stations, where she held various jobs.

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2 Business

REAL ESTATE NEWS

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Budapest Business Journal | April 22 – May 5, 2016

Ritz-Carlton opens five-star Budapest hotel

Situated on the site of the former Le Meridien, this is the first property by the luxury chain to open in Hungary. BBJ STAFF

The five-star Ritz-Cartlon Budapest, the luxury chain’s first hotel in Hungary, was officially opened on the morning of April 12 by hotel Director Marcus Loevenforst, in a ceremony at the new facility on Erzsébet tér. The newly renovated property, on the site of the former Le Meridien Hotel, offers 170 rooms and 30 suites for its guests, with the Ritz-Carlton Spa and Fitness Center located on the top floor, according to a statement provided by the hotel. The hotel’s new restaurants and bar will offer Hungarian cuisine, including Hungarian beers and wines, the statement said. Loevenforst said he spent the months before the opening overseeing the renovation of the landmark historical building. Following the opening, he said, his chief task is to provide the highquality services Ritz-Carlton considers a trademark of its operations, as well as to manage the staff of the hotel. Herve Humler, president and CEO of Ritz Carlton, said that he considers it an honor to open the first Hungarian hotel of his luxury chain, which already operates more than 90 hotels in the United States, Europe, Asia, the Middle East, Africa and the Caribbean. “We are extremely happy to introduce our high-quality services, which have become the trademark of Ritz-Carlton, to a new market,” he said.

Shown are images of the new Ritz-Carlton Budapest.

Speculative logistics development is first since 2008

Prologis’ new 21,000 sqm facility at its existing logistics park marks a change in a market where developers only launched projects based on customers’ orders. GARY J. MORRELL

Prologis has undertaken the development of a 21,000 sqm speculative facility at Prologis Park Sziget-Budapest. This will be the first speculative logistics building in the Hungarian market since 2008, and the facility is scheduled for completion in the third-quarter of this year. “In addition to the increasing rents at Prologis Park Budapest-Sziget, the 98% occupancy of our Hungarian portfolio and high customer retention rate give us the confidence to carry out this development,” said László Kemenes, country manager at Prologis Hungary. The Prologis Park Budapest-Sziget currently comprises a total of six

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The existing facility at Prologis Park Budapest-Sziget. buildings with a combined 128,000 sqm of industrial and logistics space with the capacity for 15,000 sqm of additional development. The park is located in an industrial zone at Szigetszentmiklós, close to Budapest, which provides direct access to the M0 Budapest ring road. “The new facility, Building 7, will include a pioneering docking system with 46 docks and three drive–in gates. It will reflect the commitment of Prologis to environmental stewardship by guaranteeing energy efficiency and costeffective operations,” said Prologis. With regard to vacancy there has been a remarkable market recovery in the

Hungarian industrial market over the past two years, with a fall in vacancy to 10.6%, driven by a combination of the active occupational market and limited development activity. Vacancy for Central Europe (Poland, Czech Republic, Slovakia, Hungary and Romania) stood at 5.7% at the turn of the year according to Cushman & Wakefield. In general, developers in the region have taken a cautious approach by developing on a built-to-suit rather than a speculative basis. However, a limited number of speculative developments are now underway as developers diverse their development strategies. That said, take-up is still outperforming development, with the resulting fall in vacancy rates, as developers are land banking as they strive to keep up with demand. Prologis undertook the development of 200,000 sqm of space in ten developments in 2015: 46% of this was built-to-suit and 54% speculative. Most of the delivery was in existing logistics parks. “We expect that demand in 2016 will be stable and result in further steady development of the industrial real estate sector in the whole region. The investment level should also remain

“We expect that demand in 2016 will be stable and result in further steady development of the industrial real estate sector in the whole region.” constant with speculative development; at least 30% of a speculative project should be preleased before construction starts,” said Martin Polak, head of CEE at Prologis. Tamás Beck, head of industrial at Colliers International Hungary, sees more speculative development in Hungary in well located parks with high or full occupancy as a further drop in vacancy can be expected. Rising demand is mainly driven by the industrial/automotive sector. However, fast moving consumer goods and so-called 3PLs (companies that work with shippers to manage their logistics operations) are also playing a more important role as retail consumption continues to grow.

2016. 04. 20. 22:10

3Special Report BBJ

Dual education offers hope for future

ď€´ 12

Turning players into workers

ď€´ 15

Hungary is hiring

With multinationals locating factories and SSCs in this country, labor is in tight supply. We look at the current job market and creative approaches for finding top talent.

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2016. 04. 20. 22:13

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Budapest Business Journal | April 22 – May 5, 2016

Dual training: Grab them before t A handful of multinationals with subsidiaries in Hungary have been making big investments in dual education here. The Budapest Business Journal spoke to industry players to learn how this kind of training can help in a market where the right job candidates are sometimes scarce. ANIKO FENYVESI & LEVENTE HÖRÖMPÖLI-TÓTH

As they grapple with a shortage of labor, many Hungarian firms find that dual education, in which companies provide technical training to secondary and post secondary school students before they graduate, shows promise as a way to ensure a good supply of workers. The greatest advantage of dual education is that companies can attract talented technicians well before they hit the job market, while also providing them with insight into the company culture that will help them seamlessly integrate once they are hired. Although dual education is most commonly used among the original equipment manufacturers present in Hungary, such as Audi, Mercedes and Opel, and tier-one auto suppliers such as Siemens and Bosch, it also exists across the IT sector, where the lack of qualified technical staff is a growing concern. Dual education also resolves the age-old problem of mismatched skills, whereby employees with specific skill sets are not in demand and positions exist for skill sets that are in high demand yet cannot be filled. Based on the German apprenticeship model, dual education entails a theoretical component combined with on-the-job training where students can develop soft skills they are not prone to picking up in a traditional classroom. Dual education programs can also be tailored to the specific needs of a company to prevent a labor shortage well before it occurs. But it’s usually the larger multinationals that have the money to invest in the technology for such training systems.

Students at Audi Hungaria’s dual training program.

“Theoretical knowledge is acquired in our partner institutions in charge of vocational training, whereas practical knowledge can be gained in the workshop of Mercedes-Benz Manufacturing Hungary, under conditions that simulate production.”

Kecskemét College’s Dual Training and Methodological Center, which is part of its Faculty of Mechanical Engineering and Automation, was set up in cooperation with Mercedes-Benz Manufacturing Hungary Kft. and KnorrBremse Fékrendszerek Kft., and was the first dual education program in Hungary. The three-and-a-half-year course was launched just as Mercedes was entering the manufacturing sector in Hungary. “Theoretical knowledge is acquired in our partner institutions in charge of vocational training, whereas practical knowledge can be gained in the workshop of Mercedes-Benz Manufacturing Hungary (MBMH), under conditions that simulate production,” says Mercedes-Benz. First out of the gate Although the first dual training With the first wave of dual education graduates have only been working as students graduating from the Mercedes- official Mercedes-Benz employees for a Benz program at Kecskemét College this couple of months, the huge advantage winter, it remains to be seen what the of students learning the basics of the true impact of dual education programs company’s operation and focusing on will be on the dramatic labor shortages in their area of specialization is already specialized technical fields in Hungary. apparent, Mercedes-Benz says. So far, the firm has hired four of this Audi’s Hungarian subsidiary also has year’s graduates. a dual training program at the Széchenyi

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István University in Győr, which as of last year was augmented with its own faculty. The course provides hands-on training in an industrial environment where students can put their theoretical knowledge into practice. Audi Hungaria has offered vocational training with a substantial practical component for the past 13 years at a number of Hungarian schools, but the model was not officially recognized as a “dual education” until 2011, according to the company’s website.

Competitive edge

Few companies fear that students will look elsewhere, as most believe they provide the best work environment and the most competitive packages that would make it unnecessary for students in which they have invested a great deal of time and resources to seek employment at a competing firm. Mercedes-Benz is proud of its training programs. Although the officially recognized dual education program was launched a little over three years ago, vocational training programs have been Filling the labor gap running for longer and the interest is Dual education has a key role to play immense, the company says. “The dual in filling the dwindling labor pool with training model is a success, demonstrated qualified technicians, but this will take by the fact that there is huge interest time. More pressing is the need to among applicants for both dual vocational assess where shortages lie and to fill and dual college training,” says Mercedesthese holes as efficiently as possible. Benz. There may be strong competition “The aim of dual training, which stems for a limited talent pool in Hungary and from an international model, is to elsewhere in the region, but Mercedes enable Hungarian students to complete sees this as more of an opportunity than secondary and post-secondary studies a challenge. “In 2016 we received the title that meet real market demand so that at of one of the ‘Most Attractive Workplaces’, the end of their training they can get a so we anticipate with good reason that if someone is looking for a job in the area of job at our plant,” says Mercedes-Benz. Dr. Anikó Gmoser, head of Siemens production or logistics, they will consider Professional Education in charge of coming to us,” the company says. the company’s vocational training In addition to the great environment program stresses the importance of created by vocational training, more acquiring so-called soft skills such as a straightforward incentives such as market-oriented and customer-focused competitive salaries could boost these approach to work, as well as discipline programs. Those who start their career and familiarizing oneself with the in the metal industry by practicing a expectations of multinationals. Since it profession in high demand, and perform is in the best interest of both the younger well, will get above-average wages right generation and the labor market in the away, says Gmoser. According to her long run, the concept should remedy experience, the freshly trained gladly labor shortages. “To cite a German stay at Siemens, and it’s not typical for example, youth unemployment is among them to go abroad. “We aspire to provide the lowest in Germany according to such knowledge that enables pupils Eurostat statistics. This can be attributed, to do well anywhere they go, and we among other things, to vocational expose them to working conditions even training, which has been functioning during their training so that they get the in the country for more than 120 years,” impression that they can have a decent life here at home as well,” Gmoser added. Gmoser says.

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Dual education’s impact on recruitment firms With the first dual training graduates entering the job market, it is not yet clear what impact this will have on the recruitment segment. As Emőke Fülesi (pictured), commercial director at Hays Hungary explains, HR firms do not usually get requests to fill fresh-grad positions since in-house HR departments of the relevant companies tend to deal with them. This implies that recruitment specialists such as Hays are not likely to feel the effects of dual training. “It is also important, however, that recent and future graduates are part of generation ‘Z’ who, to a greater extent than gen ‘Y’, are open to new things and to discovering the world around them,” Fülesi says. “These generations change workplaces far more frequently than any of the previous generations. Taking these trends into account, we can predict that dual education will not slow down the recruitment market.” As far as financial rewards are concerned, completing a dual training program may not be the equivalent of hitting the jackpot, but there are other advantages on the horizon. “Perhaps the starting salary of graduates who took part in dual education will not be higher than anyone else’s; however, it is likely that they will not be waiting for their first job-proposal for long. Their skills will be in very high demand,” the Hays expert says.

German software developer SAP’s Hungarian subsidiary appeals to students by providing several “tailormade opportunities to meet the specific needs of their current situation”, explains Krisztina Horváth, HR director at SAP. “There is a huge fight for talent already at the university level, so all programs that offer specific training and work experience provide an advantage for companies and for students as well.” SAP’s vocational training program, which is in many ways similar to the dual education system, runs from oneand-a-half to two years, in conjunction with an undergrad or masters degree, and was launched in August.

Curriculum tells all To ensure that dual training students remain with the companies that train them, firms have the added advantage of monitoring the behavior of the market and filling the needs of the industry before they arise. Since technology moves fast and training courses take time, anticipating what curriculum models to follow requires an ability to predict the future needs of the industry by covering all the bases. “Those students that take part in dual education are exposed to high-caliber, practiceoriented training that complements their theoretical knowledge, while they can personalize their up-todate professional know-how in an international setting. They get a complex overview into all areas of the automotive industry (production, manufacturing,

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research and development),” explains Dr. Erzsébet Knáb, managing director of human resources at Audi in Hungary. The appeal of Siemens’ dual education program is strengthened by its modern curriculum, access to equipment run by cutting-edge technology, and workshops that reproduce real-life manufacturing conditions. Additionally, teaching language skills opens students up to opportunities available primarily to those working at multinationals. “We need to be able to motivate the young. Here at Siemens we strive to achieve this by providing free language education and apprenticeships abroad. Scholarships are also up for grabs and the best are offered jobs,” Gmoser said.

Getting them early Bosch, which is one of the key tier one auto suppliers and electronics manufacturers in Hungary, launched its dual education programs last year with the cooperation of the University of Miskolc, the Budapest Business School, the Szent István University of Gödöllő and the Budapest University of Technology and Economics, the Bosch Hungary Group says. But prior to that it had already offered dual training at secondary schools in the country in an attempt to reduce overtraining and graduate unemployment by outlining to students exactly where the shortages in technology sectors existed and where they anticipated the most need. Bosch’s secondary school program has already produced a number of graduates.

EXPERT OPINION

EMPLOYMENT OF EXECUTIVES – ENDLESS POSSIBILITIES? termination non-compete clause. Both the former and the current Labor Code included that such a clause is only valid and enforceable if appropriate compensation is provided by the employer. Now the question is whether the parties can stipulate such a clause without providing appropriate compensation with reference to the general Kinga Dániel rule allowing deviation. Hetényi Gera Executive employment contracts Managing Partner Attorney at Law sometimes stipulate that the salary received during the employment includes the SCHOENHERR HETÉNYI ATTORNEYS AT LAW extra compensation for the non-compete undertaking. The validity of such a clause In the current – slightly more may raise questions, as in such case the optimistic – economic climate it compensation is paid in advance and it does is essential for businesses to find not appear as a separate payment from the the right person to be employed normal salary. From a strict legal perspective both in executive positions. Good, solutions seem feasible upon the parties’ experienced leaders and wellagreement, as a deviation from the relevant organized management teams rule of the Labor Code (i.e. the rule stating can help businesses grow and that the employer must pay proportionate increase shareholder value. compensation) is allowed under said rule. There are good arguments to support both An important element of keeping executives positions, i.e. (i) one can argue that it is unfair on board is to create a working environment to restrict someone’s fundamental right which allows them to strive and focus to exercise his or her profession without completely on their tasks. Applying tailor- compensation; (ii) on the other the clause made conditions in their employment allowing deviation from the standards may contracts and offering competitive extend to agreeing on unusual contractual compensation packages are important tools terms. to achieve that. To decide which argument prevails, it On the other hand, the high level of seems that we will have to wait for a case in executives’ responsibility and the gravity of which a court could decide about the validity their decisions require solutions to protect of such deviations. employers’ interests by applying stricter liability rules, etc. Since the characteristics GARDENING LEAVE of regular employment relationships cannot For certain executives, employers (especially appropriately reflect several aspects of with foreign background) prefer applying a executives’ employment, the need for more so-called gardening leave upon termination flexible rules has been addressed by the of employment. A gardening leave is a relevant regulations for a long time now. practice where an employee leaving the job Still, a significant change introduced by the is requested to stay away from work (stay new Labor Code went somewhat unnoticed. at home to do gardening) during a definite Namely, the “old” Labor Code of 1992 period, while still remaining on payroll. regulated the employment of executives in a Such a measure aims to prevent way that it listed certain areas where different employees from using up-to-date knowledge rules applied (e.g. collective agreement or information gained at the employer. does not apply to executives, they work in a Though it is somewhat unusual, a gardening flexible work schedule, and are not entitled to leave can be applied under Hungarian law extra compensation for overtime work, etc.). through existing legal concepts (exemption The current Labor Code kept the same rules from work for a notice period). The rule in force but introduced a clause that allows allowing deviation from the rules of the Labor parties of an executive employment contract Code could help parties set out the exact to deviate from practically any regular rules of such leave in their employment (statutory) employment terms. contracts. This means that – with certain exceptions As shown by the above examples, parties – the statutory rules governing individual have yet to fully explore and exploit the employment (creation, termination, working possibility of deviating from the general rules time, etc.) only apply to the employment of and legal counsel could take advantage executives if the parties do not apply different of that freedom and fully tailor executive contractual conditions. Below, we will take contracts to their clients’ needs. a look at two examples that demonstrate possible deviations from general rules. NON-COMPETE CLAUSE WITHOUT EXTRA COMPENSATION? The employment contract of executive employees usually includes a post-

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e they graduate

Budapest Business Journal | April 22 – May 5, 2016

2016. 04. 20. 22:13

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Budapest Business Journal | April 22 – May 5, 2016

New talent is not only young talent The value of mature workers was brought home at AmChamʼs third HR Dream Day, a day-long conference on employment matters. CHRISTIAN KESZTHELYI

Aging is an unavoidable, natural process, but being old is a social construct, according to participants and presenters of the third HR Dream Day, organized by the American Chamber of Commerce on April 14. The concept of age in employment was put into focus at the event, organized for the third time by AmCham to discuss trends in the field of human resources in Hungary. This year, much of the discussion was about the shortage of labor in a country where the population is shrinking and many young The audience of HR Dream day. people are leaving. One potential solution is to hire older people, but not everyone is ready to do that, participants noted. “Age is the third biggest characteristic for discrimination, in Europe,” Bence Ságvári, a sociologist at the Hungarian Academy of Sciences’ Center for Social Sciences, said at the event. But he maintained that people are only old if they feel so. Feeling old can be depressing, which can easily lead to being unproductive; however, there are certain techniques for avoiding this feeling, experts said. During her keynote speech at the event, Chérie Carter-Scott, best-selling author and life coach, said that when she met the issue thing that also matters is finances, or of aging she became interested in how more precisely “not being preoccupied people age gracefully without falling apart. with your income”. After conducting research into people She stressed the importance of above the age of 50, Carter-Scott said relationships and having spouses or she found that those people who were significant others. the happiest, most satisfied and fulfilled “Having a relationship with younger shared certain characteristics. “The most people is also crucial, as if you hang important aspect is being healthy and out with younger people you will act also coming to terms with the fact that and think like them, just like if you you are not who you used to be,” Carter- hang out with older people it ages you,” Scott said during her speech. Another Carter-Scott noted. Furthermore, she

“The most important aspect is being healthy and also coming to terms with the fact that you are not who you used to be.”

Kedves Ügyfeleink, Munkatársaink, Partnereink

KÖSZÖNJÜK! PARTNER A SIKERHEZ

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KÖNYVELÉS • BÉRSZÁMFEJTÉS • HR SZOLGÁLTATÁSOK

Chérie Carter-Scott addressing HR Dream day. said, enthusiasm or a sense of passion dangers of aging and feeling old. are equally important, as that is what “Health needs to be made a priority, “gets you out of your bed every morning and longevity the target,” Carter-Scott and makes you feel important”, the told the Budapest Business Journal. “Encourage employees to exercise in professional concluded. some way, every day for at least 30 minutes. Have healthy food accessible, Being old in a corporation not just convenience or junk food. Modify As an individual’s environment and the expectations so that a physical presence perceptions of people around them play in the office is not the number one goal, a crucial role in how old employees feel, but rather a balanced lifestyle that businesses need to weigh in if they want ensures longevity rather than burn-out,” added the professional, who has been to stay competitive. “Based on my experience, the working as a coach since 1974. environment a corporation establishes Companies may be hesitant to hire greatly influences how employees work older people, but they have a great deal and think,” Krisztina Varga, Regional to contribute, if employers know how to Business Operation Manager at Hewlett- use them. Packard Hungary, said at the event. “Mentoring is a great way to transfer She said that a company can and information and technology from elders should support an individual with their to juniors,” Carter-Scott said. “Another professional and also private lives, but way is for older members to teach classes “the most important fact is that you should or tutor new hires. The critical factor know what you want and how you want it”. is that you don’t want to lose all of the Yet, one can only help and support experience, knowledge, and expertise people who are open to it, Tamás Vahl, that the older leaders possess, and you distribution sector industry leader at IBM want to ensure the successful transfer to Central and Eastern Europe said at the those who are building the future of the event. Based on a project he launched firm,” she stressed. for people above the age of 45, he Training can be a great way to keep found: “There are a lot of people above existing staff happy and motivated, 45 who used to have a bright career but especially in times when all the major it is gone and as they are getting older sectors are facing skill shortages, and they fall apart.” He believes that these employees leave one company for people need to reinvent themselves to another that offers better opportunities, keep living their life in a healthy mental Carter-Scott said. state, therefore in his project people are “Coaching is a great way to ensure that brought together to figure out what to employees are focused, productive, and do, how to change and how to live their motivated,” she said. “Quarterly check-in life on”. One very important factor Vahl meetings in a real and safe way can mentioned is that from a “very early age, ensure that employees have not dropped you have to teach the mentality to keep through the corporate cracks.” learning and doing new things every day”, This can be ensured with the help of in order to be prepared for the time when an internal coach, an external coach an individual reaches an age of having to or even a manager trained as a coach. “Most important is ensuring the safety reinvent themselves. and confidentiality of communication so that the truth can be shared – Businesses own tools against aging whatever that may be,” Carter-Scott Corporations seem to possess all the added, emphasizing that, to be effective, means necessary in order to support coaching needs to happen in a private their employees, helping them avoid the and confidential environment.

2016. 04. 20. 22:13

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Budapest Business Journal | April 22 – May 5, 2016

Turning recruitment into a game Using a technique called gamification, Hungarian companies help engage potential job candidates and build their employer brand. ANIKO FENYVESI

In their quest for new talent, some Hungarian companies have found that it helps to blur the line between work and play. Big corporations are using gamification, a concept of creating a game that simulates real-life situations that employees would encounter at a company. By playing at working at a firm, young people starting their careers can become more interested and involved in the company, while employers can learn more about potential job candidates. Gamification is designed to increase employer brand awareness among a target audience of inquisitive young minds. Gamification puts a fresh and playful spin on the recruitment process and companies can increase engagement further by introducing cash prizes. In the case of international advisory group PwC, their Multipoly game, produced in conjunction with local firm Games for Business, offers an interface that requests players to perform on-the-job tasks in a simulated work environment. “What we would like to achieve with the game is to provide some sort of insight for potential hires of PwC,” explains Noémi Bíró, senior manager and CEE recruitment leader at PwC. She says that people are more interested in joining a company when they have a better understanding of what their role is within that organization. According to Péter Filák, business development director at Games for Business, gamification can be used as a tool that, if applied well, provides meaningful motivation for target audiences to follow the desired behaviors of an organization in such fields as assessment, recruitment and development. “We have built several virtual assessment center modules into our simulation games that have helped collect valuable information about potential applicants besides their player behavior.” The strong potential of this tool and its many uses is what makes it so appealing to companies in Hungary and elsewhere. “We have experienced a clear shift from the state where gamification was a mystic, interesting phenomenon to an accepted tool to be applied to ever more areas,” says Filák, whose company has invested heavily in educating the HR sector in Hungary on the practicalities of gamification. Millennials learn in a very different way than their predecessors, according to HR Vice President of MOL Group, Zdravka Demeter Bubalo. “They do not appreciate

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Images from PwC’s Multipoly recruitment game.

“What we would like to achieve with the game is to provide some sort of insight for potential hires of PwC.” being given information for information’s sake; learning must be relevant and ready for application. They also spend more time using electronic media and put greater emphasis on collaboration with others than their predecessors.” MOL’s popular online game Freshhh is a gamified competition where students, in teams of three, battle it out as they are faced with challenges based on reallife case studies from MOL Group’s oilfields, explains Demeter Bubalo. The game uses masses of multimedia content, webinars, and team tasks in a simulated environment with challenges that combine teaching with real-life situations that are more likely to engage Millennials. The top five teams from the game’s first round are invited to compete against each other at the finals in Prague, where management can meet participating students face-to-face. This is also the arena where participants can get a crack at MOL’s career kick-start program Growww, not to mention the €25,000 prize awarded to the best three teams, Demeter Bubalo says.

Building the brand MOL’s Freshhh has developed a strong brand in Hungary through its longstanding presence. “The Freshhh program has been running for nine years already and students from our core markets are aware of it and await it every spring,” explains Demeter Bubalo. This year, 2,307 teams from 53 countries

The future of the game

are competing online, with the finalists to be announced this month; clearly, With technology evolving at incredible brand building through gamification is speed, it won’t be long before gamification working at MOL. in an online and offline setting will be able “Multipoly is essentially a very to collect relevant data on the behavior and sophisticated element of strategic tendencies of potential hires, which can employer branding,” Bíró notes, adding then be used to filter through applicants that the game is intended to engage all to find the best candidates. “It would be a kinds of players who may never have huge step to integrate Multipoly to PwC’s considered working at PwC before. “Any applicant tracking system, which is a engineer, mathematician or English massive, globally integrated system, and literature major, or anyone regardless of have the two systems communicate with their educational background can play each other,” says Bíró. Multipoly and learn about PwC.” Beyond recruitment, gamification According to a survey conducted – already present in a number of other by Games for Business, of 3,815 new fields – will undoubtedly develop to more business school graduates, PwC’s accurately read the evolving tendencies of Multipoly attracted more players than a generations to come. “Our experience and Big 4 competitor’s game that had been on the opinions of expert analysts show that the market for years, while applications gamification methodology will be applied to work at PwC were up 90% within two to ever more business/corporate situations years. Of the survey respondents, 100% in the future, given that new generations said they had acquired new information entering the job market not only appreciate, about PwC and more than 80% agreed but rather expect the kind of experience that the game had changed their opinion in the various aspects of their career that about PwC in positive ways. gamification can provide,” Filák says.

2016. 04. 20. 22:13

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Budapest Business Journal | April 22 – May 5, 2016

Hungary’s shortage of workers g As the economy heats up, and foreign placements lure workers away, SSCs struggle to find people who speak more than one language and factories are looking for a variety of skills, according to local recruitment experts. BBJ STAFF

IT specialists and engineers are still the most sought-after types of employees in Hungary, but as the economy heats up and the pull of the West reduces the labor pool, other types of jobs are going wanting, according to local HR experts. Professionals working in recruitment, for both temporary and permanent employment, said the labor market in Hungary is tight, and getting tighter, making certain positions more challenging to fill. These experts told the Budapest Business Journal what types of workers are the most sought after. But despite the tight market, the local recruiters said they still have the ability to find the job candidates employers need. “As in previous years, engineers and IT people are within a candidate driven market, so basically they can choose from many different offers,” said Tammy Nagy-Stellini, managing director of Hays Hungary, one of the country’s largest recruitment agencies. Gabriella Ruff, a co-founder of Karrier Hungária, another major local recruiter, maintained that these kinds of workers are even harder to find in Hungary if they can work in an international context. “Generally speaking, it is very difficult to recruit experienced engineers who speak foreign languages,” she said. But both Nagy-Stellini and Ruff noted that the shortage of workers is not limited to the engineers and IT specialists. Other recruitment specialists agreed that many open positions are more difficult to fill. Noting the “long-lasting shortage of certain professions in the labor market, like engineers, IT professionals and skilled workers,” Attila Molnár, managing director of Pannonjob Humán Szolgáltató és Tanácsadó Kft. added: “Since last year, those positions that were easy to fill before – like simple machine operators, storekeepers or manual laborers – are more difficult to recruit today, and we receive many requests for these positions as well.” According to Csaba Greguss, permanent placement director at the Hungarian recruitment agency Adecco Kft., growth in the Hungarian economy means his firm is needed more often to help in hiring for all positions. “There is a boom in the labor market in 2016. Our number of vacancies in permanent placement has increased by 18%. Our main focus is IT and engineering positions, but blue collar workers are also challenging to find these days,” he said. And Zsuzsa Gárdus, managing director of JOBSgarden-ITjobs Kft. said that, while “the most painful shortage” involves IT workers, shared service centers (SSCs) are also having a hard

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time finding people who speak several languages, especially those with finance or accounting expertise. As for engineers, the most difficult kind to find are electrical and chemical engineers, or anyone who speaks more than one language, she said.

Long-term trend The current labor shortage has been a long time coming, according to Molnár of Pannonjob. He noted that Hungary’s own “baby boom” came between 195056, when Anna Ratkó, Hungary’s welfare minister, sought to reverse Hungary’s wartime population decline by outlawing abortion and taking other steps to encourage births. The so-called “Ratkó” children born then are now reaching retirement age, while those now reaching working age were born in the early-tomid 1990s, at a time when Hungarians were having fewer children. “As a result, each year there is a negative gap of around 100,000 workers between those entering and those retiring from the labor market.” Meanwhile, Molnár added, many of those who are of working age are being tempted out of the country. “Over the past decades, ageing Western European societies have filled their workforce shortages with workers emigrating from Central and Eastern European countries,” Molnár said. He noted that, with European Union membership making it easy for Hungarians to move to higher paying markets, this exodus of workers has increased. Imre Papp, the managing director of recruiters HSA Kft. said that Western employers are more often coming into Hungary, to poach workers away. “I feel that the presence of Austrian and German recruitment companies has become stronger in Hungary recently,” he said. “These are very active in recruitment, offer good conditions, and help workers to travel abroad, find accommodation, manage their problems and also represent their interests. That is why so many skilled workers move and work in Western Europe and are missing from the Hungarian labor market.” Sándor Baja of Randstad Hungary Kft., currently the biggest recruiting firm in this country, said that demographic trends are not completely stacked against employers. “The demographic situation of Hungary is complex,” he said. While he acknowledged that the overall population of the country is dwindling, Baja noted that certain population centers are going against the grain: “Budapest (and some other big cities like Győr and Debrecen) attract more and more people,” he said. “Budapest and Pest County grew to almost three million in the last decade.”

GE’s SSC in Budapest: The sector needs language and finance skills.

“Each year there is a negative gap of around 100,000 workers between those entering and those retiring from the labour market.” Booming demand in factories

in Hungary and there are more than 240,000 unemployed,” Csákvári said, adding that geography is part of the problem. “There are a lot of workers who look for new opportunities, and a lot of companies who need skilled and semiskilled workers. However, exact demand and exact location of supply and demand do not necessarily meet.” In addition to engineers, Csákvári, whose firm handles temporary placements, said that the industrial sector needs many other types of workers. “Our firm is busy looking for new factory workers to fulfill the needs of our customers located in Hungary, especially around this time of the year,” he said. “The largest demand is for semi-skilled laborers, usually production operators, CNC (computer numerically controlled) operators, locksmiths, foundry workers, carman drivers, welders, electricians and metal-working machine operators.” Papp of HSA said that factory hiring is no longer something that builds as school closes. “Demand for trained workers has grown at large factories all year long,” Papp said. “There is permanent, insatiable demand for CNC workers, millers, locksmiths, welders and chippers.”

Along with long-term demographic changes and the pull of jobs abroad, Hungary’s labor market is also impacted by internal economic growth, especially in the area of automotive manufacturing and other types of industrial production. Experts interviewed said it is harder to fill jobs in manufacturing, including, of course, engineers. According to Gárdus of JOBSgarden-ITjobs, her company sees a shortage of a variety of engineers, including: “Hardware developers in electronic development, reliability engineers, test engineers, technology development engineers, quality/safety engineers, energetics engineers and lean engineers.” Róbert Csákvári of Work Force Kft. said that the shortage of engineers and IT developers is due to a mismatch in SSCs in need available talents and open positions. “University degrees in science and arts As with manufacturing, Hungary’s ability are more popular among students then to provide a trained workforce that is more engineering,” he explained. affordable than that of Western Europe “Half of the Hungarian companies has made this country a magnet for complain about the lack of experts SSCs and business process outsourcing

2016. 04. 20. 22:13

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Budapest Business Journal | April 22 – May 5, 2016

s goes beyond IT and engineers

All types of factory workers needed: A new Vitara gets finishing touches at the Suzuki plant in Esztergom. (BPO) offices. Workers in these hubs can handle all the back-office administrative needs of major corporations, but those workers must be able to speak more than one language, so they can communicate with their head office or customers. If potential SSC workers have special training in back-office functions, like IT or accounting, it can increase their value, and make them that much more precious on the labor market. “As for SSC workers, multi-lingual candidates are able to choose between several opportunities,” said NagyStellini. “Nowadays, most candidates speak well in English, though this is no longer a plus but rather a must – along with another one or two languages. There is currently a high demand for German speakers, though this comes in waves – the next wave may be French speakers. And, funnily enough, it seems that SSCs pick the same time to look for the same language speakers.” Along with the right language abilities, Nagy-Stellini said, having finance qualifications makes an SSC candidate very valuable. Ruff of Karrier Hungária also noted the demand among SSCs for candidates with two or three languages who can handle finance: “It is very difficult to find, for example, an accountant with Dutch knowledge, although it is still possible.” She added that it is important for SSCs to make themselves attractive to these candidates, so they can hire them and keep them. “In SSCs, the average rate of fluctuation is 10-15%,” Ruff said.

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The advice I give is you need to be fast. ... If you identify talent, snatch them. You may have to challenge internal policies, but if you don’t act quickly, someone else will. ... It is no longer the situation where you post an advert and wait. ” In the experience of Gárdus from “In order to mitigate against this JOBSgarden-ITjobs, the range of destructive competitive cycle, SSCs financial professionals, including and BPOs operating in Hungary should accountants and controllers, are all in look to hire talent from abroad,” she demand at SSCs, as are experienced said. “Focusing mainly on neighboring procurement experts, handling “all levels: countries, employers should entice candidates to move to Hungary through operational, tactical, strategic sourcing”. Emese Nagy, branch manager of CPL the offer of relocation packages that practical assistance and Jobs Kft., said that, after IT workers, provide SSC workers were the most common encourage worker mobility.” kind of employee that her customers Ruff mentioned the importance are hoping to recruit. She said language of building a reputation for being a combinations, especially Scandinavian good employer. “Companies should languages, could make an SSC candidate understand that finding talent requires a more desirable. “SSC employers are different approach from a few years ago, typically looking for candidates with and all companies should differentiate rare languages or with scarce language themselves from their competition,” combinations,” Nagy said. “Salaries Ruff said. “They should also be able to offered for these roles are usually around communicate this difference through 10% higher than salaries for similar roles, their employer branding strategy and without difficult language requirements, they should work out long-term programs as incumbents compete to attract much for serving employees.” needed talent from rival firms.” Nagy-Stellini of Hays emphasizes the importance of being agile enough to hire in a hurry. “The advice I give is you need Handling the tough competition to be fast,” she said. “If you identify talent, So what can a company do in a market snatch them. You may have to challenge where many firms are after a small pool of internal policies, but if you don’t act talent? Nagy suggests looking around the quickly, someone else will.” greater region. Of course, one solution offered by all

these experts is that companies should get in touch with them. As professionals in recruitment, they said they can give employers an edge in a tight market. “At Hays we have alternative ways of finding candidates – especially using social media channels,” said NagyStellini. “It is no longer the situation where you post an advert and wait. Long gone are the days!” Baja of Randstad said his firm is busy, but they can handle the rush. “We have more assignments than at any time before, from hundreds of companies – from the biggest ones to SMEs. We take the jobs in only when we think we can deliver,” Baja said. “If a client proposes impossible criteria, let it be salary, language and other skills, experience, or location, then we try to consult them to fine-tune the expectations, to see if these criteria are really needed.” Csákvári, of temporary specialist Work Force, maintains that there are inventive ways to bring together workers and employers. He cited the example of the town of Oroszlány, where American car parts maker Borg Warner in December completed an expansion that required construction and is expected to create 600 jobs. “Work Force was the first that established and financed mobile homes in Oroszlány for workers from other regions,” Csákvári said. “The situation is not hopeless, there are still people who want to work within our reach. We have to be creative, if we want to move the market.”

2016. 04. 20. 22:13

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Budapest Business Journal | April 22 – May 5, 2016

Audi considered best place to work in Hungary Randstad’s annual survey determines the ‘employer branding’ of various firms in Hungary. CHRISTIAN KESZTHELYI

Audi is considered the best place to work in the country, Randstad Hungary announced April 6, as it released the results of its annual award and study, Randstad Hungary MD Sándor Baja. which surveys 4,000 workers in Hungary and 200,000 worldwide. Although Hungarian employees are The survey plumbs the perceptions keen on working for big multinationals, and desires of workers, revealing the companies are expected to face places they would most want to work challenges this year when recruiting new and the considerations that they weigh staff, or keeping existing workers. when choosing a preferred workplace. In “Based on year-end data of Randstad short, it is a measure of the “employer Workmonitor 2015, 70% of Hungarian employees believe that employers will branding” of various firms. The survey found that salary was face serious staff shortages in 2016 in all a primary factor determining the the areas of the private sector,” Sándor Hungarian market’s preference for a Baja, managing director at Randstad particular firm. This was followed by Hungary, said at the presentation of the long-term job opportunities and good prize. work-life balance, facets that have Finding the best professionals has gained importance this year as compared never been so difficult in Hungary, to the previous year’s findings. Randstad according to Baja. “The competition is said career opportunities and financial fiercer than any time before,” he told health have also become more important, the Budapest Business Journal. “The while the importance of interesting job economy is recovering, which means content and a convenient location of the companies need more people and this is difficult to handle due to the workplace have dropped.

demographic situation of our country MOST ATTRACTIVE EMPLOYERS and the brain drain to the West.” It is still possible to keep and recruit RANK FIRM % CHOSING staff, if a company considers the points Audi 63.67% respondents noted in Randstad’s survey, 1 Baja said. 2 Mercedes-Benz 61.03% “The best companies offer a balance Szerencsejáték Zrt. 56.21% among different benefits,” he said. 3 “They keep in mind that the salary is 4 Lego 56.07% by far the most important benefit, but they make more efforts in improving 5 IBM 55.59% the working atmosphere, the work/life 6 Samsung Electronics 52.21% balance, training and career progression possibilities and, last but not least, they 7 Bosch 48.58% provide job security.” Furthermore, Baja said understanding 8 IT Services 47.42% the nature of employees can help a lot in 9 GE General Electric 47.37% companies offering opportunities they might find attractive. 10 Siemens 46.94% “Employees would like to develop, learn, try themselves in different fields, 11 Nokia 46.37% earn more and live in different countries,” 12 Richter Gedeon 45.82% Baja said explaining the tendencies of employees in the country. He also 13 NESTLÉ 45.34% stressed that employers should bear 14 ExxonMobil 44.32% in mind that attrition is normal and companies must be prepared for that. 15 MOL 42.24% “However, we have to maximize the time span to benefit from employees the most, 16 Continental Automotive 37.57% as to replace and train them productively 17 EGIS 37.09% costs more and more,” he said. “To keep them motivated and satisfied, therefore, 18 Magyar Telekom 36.96% is key and we have lots of tools and ways to do so. I do not believe that having 19 Chinoin 36.62% a ping-pong table in the company or 20 Ericsson 35.69% a private cook is the best way to keep them.” SOURCE: Randstad

TOP 3 MOST ATTRACTIVE COMPANIES BY ATTRIBUTE 1st position

2nd position

3rd position

financially healthy

Mercedes-Benz

AUDI

IBM

good training

AUDI

Mercedes-Benz

IBM

long-term job security

AUDI

Mercedes-Benz

IBM

career progression opportunities

Mercedes-Benz

AUDI

IBM

strong management

Mercedes-Benz

AUDI

IBM

interesting job content

IBM

Mercedes-Benz

Lego

pleasant working atmosphere

Lego

Mercedes-Benz

AUDI

salary & employee benefits

AUDI

Mercedes-Benz

IBM

good work-life balance

Mercedes-Benz

AUDI

Lego

environmentally & socially aware (CSR)

Lego

Mercedes-Benz

AUDI

SOURCE: Randstad ADVERTISEMENT

Jobsgarden-ITJobs launched its new division at the end of 2014 to complete its specialist areas with manufacturing profiles. Since 2014 our team has been successfully covering several positions for our prestigious clients from production and R&D parts till the full scale of supply chain profiles. Our service portfolio includes permanent recruitment, recruitment process outsourcing, executive search, direct search, market research, temporary help and outsourcing.

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2016. 04. 20. 22:13

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Budapest Business Journal | April 22 – May 5, 2016

Recruitment agencies yeaR establisHed no. of offiCes WoRldWide

oWneRsHip (%) HungaRian non-HungaRian

top loCal exeCutive Cfo maRketing diReCtoR

✓

2004 4,473

– Randstad Holding N.V. (100)

sándor baja Lívia Tóth Ágnes Szokody

1024 Budapest, Lövőház utca 39. (1) 411-2090 (1) 411-2091 info@randstad.hu

✓

2007 239

– Hays Plc. (100)

tammy nagy-stellini Aleksandra Keller Zsuzsa Krizbai-Orbán

1054 Budapest, Szabadság tér 7. (1) 501-2400 (1) 501-2402 hungary@hays.hu

tamás fehér Attila Győry Nóra Medve

1132 Budapest, Váci út 22–24. (1) 354-0933 (1) 302-7589 infohungary@ trenkwalder.com

teleCom and media

pHaRmaCeutiCals

sales and maRketing

fmCg

manufaCtuRing

banking and finanCe

guaRantee peRiod ReCRuitment time

industRy speCialization

otHeR

middle management

peRCentage of Candidates plaCed in 2015 (%)

top management

no. of Candidates plaCed in 2015 no. of employees in seaRCH and Consulting on maRCH 1, 2016

otHeR

plaCement fRom database

adveRtising

bReakdoWn by seaRCH metHods in 2015 (%)

diReCt seaRCH

total net Revenue in 2015 (Huf mln)

Company Website

net Revenue fRom ReCRuitment in 2015 (Huf mln)

Rank

Ranked by net revenue from recruitment in 2015 (HUF mln)

Randstad HungaRy kft. 1

www.randstad.hu

1,934

3,776

618

769

1,207 68

–

Ÿ Ÿ

3-6 months 1-6 weeks

3–6 months 1–6 weeks

✓

Hays HungaRy kft. www.hays.hu 2

(1)

tRenkWaldeR személyzeti szolgáltató kft. 3

www.trenkwalder.hu

393

20,552

384

546

1,297 34

✓

addRess pHone fax email

3 months 1-8 weeks

✓

1995 300

Tamás Lajos Szabó (10) Trenkwalder Personaldienste GmbH (90)

3-6 months 1 day-6 weeks

✓

2001 3

– (100)

zsuzsanna gárdus, éva paulovics – –

1037 Budapest, Montevideo utca 16/B (1) 439-2940 (1) 439-2963 office@jgit.hu

3–6 months 2-4 weeks

✓

2007 1

Beáta Fürjész (50), Gabriella Ruff Berzéthyné (50) –

gabriella Ruff berzéthyné, beáta fürjész – –

1075 Budapest, Madách Imre út 13-14. (1) 354-2060 (1) 354-2061 info@karrierhungaria.hu

Jobsgarden-itjobs

személyzeti tanáCsadó kft. www.jgit.hu 4

317

kaRRieR HungáRia kft. www.karrierhungaria.hu 5

BBJ_2408_spec_report_OK.indd 19

342

344

–

304 36

✓

–

2016. 04. 20. 22:13

www.bbj.hu

yeaR establisHed no. of offiCes WoRldWide

oWneRsHip (%) HungaRian non-HungaRian

top loCal exeCutive Cfo maRketing diReCtoR

✓

2009 36

– Individuals (100)

emese Jakobi-nagy Pavol Nagy Iwo Paliszewski

1139 Budapest, Teve utca 1/A-C (1) 501-5460 (1) 501-5466 budapest@cpljobs.hu

✓

1991 5,100

– Adecco SA (100)

ottó vég Róbert Szeitl Renáta Szabó

1134 Budapest, Váci út 45. G/7. (1) 323-3500 (1) 323-3529 adecco@adecco.hu

✓

2008 425

– emese Rencsár, Reed nigel marsh Specialist – Recruitment – (Global) Ltd. (100)

–

2012 1

teleCom and media

pHaRmaCeutiCals

sales and maRketing

fmCg

manufaCtuRing

banking and finanCe

guaRantee peRiod ReCRuitment time

industRy speCialization

otHeR

middle management

peRCentage of Candidates plaCed in 2015 (%)

top management

no. of Candidates plaCed in 2015 no. of employees in seaRCH and Consulting on maRCH 1, 2016

otHeR

plaCement fRom database

adveRtising

bReakdoWn by seaRCH metHods in 2015 (%)

diReCt seaRCH

Company Website

total net Revenue in 2015 (Huf mln)

Budapest Business Journal | April 22 – May 5, 2016

net Revenue fRom ReCRuitment in 2015 (Huf mln)

Rank

20 3

addRess pHone fax email

Cpl Jobs kft. www.cpljobs.hu 6

331

5,382

282

13,781

379 24

3 months 1-4 weeks

✓

–

✓

–

3-6 months 1-6 weeks

✓

adeCCo kft. www.adecco.hu 7

Reed magyaRoRszág kft. www.reedglobal.hu

239(1)

358(1)

287 21

145 11

3-6 months 1-6 weeks

3 months 0–5 weeks

✓

iseeQ kft.

www.iseeq.co 213

217

–

✓

–

✓

Corporate (100) –

balázs bondici, péter kovács, tamás németh, balázs komár – Zsófi Szabó

1051 Budapest, Bajcsy-Zsilinszky út 12. (1) 883-3500 (1) 883-3599 info.hungary@ reedglobal.com

1075 Budapest, Madách I. út 13-14. – – hello@iseeq.hu

ADECCO – THE WORLD’S NO.1 HR PROVIDER Our Services • Candidate sourcing, screening and assessment • Full-scale recruitment and selection services (On-Site and RPO solution) • Market Analysis • Staffing management solutions • Contingent workforce management

The secrets of our efﬁciency • Global and nation-wide branch coverage • Adaptation of latest west European and overseas know-how (e.g. on-site management) • Executive Consultant Team Contact us to learn more about how our Team can help you:

1134 Budapest, Váci út 45. G/7., Phone: (1) 323-3500, e-mail: adecco@adecco.hu w w w.a d e cco.h u

ade_bbj_2016.indd 1

BBJ_2408_spec_report_OK.indd 20

2016. 04. 13. 12:14:08

2016. 04. 20. 22:13

www.bbj.hu

✓

oWneRsHip (%) HungaRian non-HungaRian

3 months 3-5 weeks

yeaR establisHed no. of offiCes WoRldWide

teleCom and media

pHaRmaCeutiCals

267 25

sales and maRketing

fmCg

manufaCtuRing

banking and finanCe

industRy speCialization guaRantee peRiod ReCRuitment time

otHeR

653(2)

otHeR

plaCement fRom database

www.grafton.hu

middle management

adveRtising

peRCentage of Candidates plaCed in 2015 (%)

top management

diReCt seaRCH

208(2)

gRafton ReCRuitment kft.

no. of Candidates plaCed in 2015 no. of employees in seaRCH and Consulting on maRCH 1, 2016

total net Revenue in 2015 (Huf mln)

bReakdoWn by seaRCH metHods in 2015 (%)

net Revenue fRom ReCRuitment in 2015 (Huf mln)

Rank

Company Website

top loCal exeCutive Cfo maRketing diReCtoR

1996 50+

– Grafton Group (100)

Klára Pethő, orsolya dózsa Norbert Fekete –

1053 Budapest, Károlyi utca 12. (1) 235-2600 (1) 235-2601 info@grafton.hu

2015 93

Prohumán 2004 Kft. (100) –

béla ignácz, Csongor Juhász, artur piotr skiba, Wojciech mora – –

1054 Budapest, Szabadság tér 7. (1) 783-0000 (1) 783-0000 enloyd@enloyd.hu

enloyd kft. www.enloyd.hu

204

24,426

Budapest Business Journal | April 22 – May 5, 2016

286 10

3-9 months 2-6 weeks

✓

addRess pHone fax email

With the best experts

– also in Hungary

kaRRieR Rent kft. www.karrierrent.hu

188

exaCt solutions személyzeti tanáCsadó 13 kft.

199

184

223

182

2,756

148

8,034

331 5

265 4

Ÿ Ÿ Ÿ Ÿ

369 18

1,036 19

www.exactsolutions.hu

MAnPoWEr MunKAErő szeRvezési kft. www.manpower.hu

pannonJob Humán szolgáltató és tanáCsadó kft.

www.pannonjob.hu

kelly seRviCes HungaRy 16 kft. www.kellyservices.hu

133

1,990

214 17

130

400

400 17

–

2012 1

Gabriella Ruff Berzéthyné (50), Beáta Fürjész (50) –

gabriella Ruff berzéthyné – –

1075 Budapest, Madách Imre út 13–14. (1) 354-2060 (1) 354-2061 info@karrierrent.hu

–

2007 2

Gábor Béres (100) –

gábor béres – Annamária Miklós

8000 Székesfehérvár, Géza utca 7. (1) 200-2823 – hr@exactsolutions.hu

Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ

1990 2,900

– Manpower France Holding SAS (100)

lászló dalányi Gábor Rajkai Miklós Horváth

1133 Budapest, Váci út 76. (1) 411-1590 (1) 266-0536 manpower@manpower.hu

✓

1993 7

Videoton Holding Zrt. (100) –

fatime touré, attila molnár Anikó Bánhidi Édua Hajdu

8000 Székesfehérvár, Berényi út 72–100. (22) 554-193 (22) 554-191 info@pannonjob.hu

– Kelly Services Inc. (96.70), Kelly Properties LLC (3.30)

anikó Jónás Zsolt Szabó Szilvia Varga

1085 Budapest, Kálvin tér 12. (1) 301-7859 (1) 301-7880 info@kellyservices.hu

Péter Tokár (97), Tamás Tokár (3) –

péter tokár Renáta Horváth Ferenc Keresztúri

1132 Budapest, Váci út 18. (1) 279-0707 (1) 466-0549 info@tesk.hu

3-6 months 2-6 weeks

3-6 months 1-4 weeks

Ÿ Ÿ

3-6 months 2-8 weeks

2-4 months 2-5 weeks

✓

–

✓

–

2004 1

3-6 months 2-3 weeks

–

✓

–

✓

–

✓

2002 1

✓

–

✓

–

✓

–

✓

–

✓

tesk tanáCsadó kft. www.tesk.hu 17

ptp-ad-252x75-CMYK.indd 1

BBJ_2408_spec_report_OK.indd 21

19/04/16 15:22

2016. 04. 20. 22:13

www.tredis.hu

103

yeaR establisHed no. of offiCes WoRldWide

teleCom and media

pHaRmaCeutiCals

sales and maRketing

fmCg

manufaCtuRing

banking and finanCe

guaRantee peRiod ReCRuitment time

otHeR

Györgyi Marton (50) AM-PLUS Consulting AG (50)

györgyi marton, János marton János Marton János Marton

1036 Budapest, Lajos utca 93-99. building D (1) 391-0228 (1) 391-0228 office@tredis.hu

(100) –

tibor urbán – –

1075 Budapest, Holló utca 3–9. (1) 877-0900 (1) 877-0910 info@humancentrum.hu

✓

–

✓

–

✓

1993 16

3-6 months 1-4 weeks

–

✓

1990 6

Zoltán Tóth (60), Péter Berta (30), Viktor Göltl (10) –

péter berta – –

8900 Zalaegerszeg, Ady Endre utca 2. (92) 550-050 (92) 550-060 whc@whc.hu

3-6 months 1-2 weeks

✓

–

2000 3

Eszter Mező (90), Endre Pál (5), Sára Pál (5) –

Eszter Mező – Boglárka Mucsi

2800 Tatabánya, Szent Borbála tér 6. (34) 511-734 (34) 511-735 thr@t-hr.hu

✓

–

✓

–

2007 154

(100) –

andrea Jamniczky – –

1103 Budapest, Kőér utca 2/A (1) 235-3010 (1) 266-6438 office@bdo.hu

✓

1992 2

László Hadi, Botond Csordás, Attila Dobár –

attila dobár György Thury –

1094 Budapest, Angyal utca 24. (1) 239-9922 (1) 239-9926 info@job.hu

–

1998 5

Volano Kft. (100) –

Csaba ottó Orsolya Horvai Módné Kinga Kincső Tóth

8272 Óbudavár, Fő utca 31. (88) 400-453 (88) 400-453 manatwork@manatwork.hu

–

2005 165

– DEKRA Arbeit GmbH (100)

marianna majtényi – Gábor Behina

1051 Budapest, József nádor tér 9. (1) 461-9080 (1) 461-9089 dekra@dekra-arbeit.hu

Lászlóné Dorozsmai (25), Réka DorozsmaiGallasz (50) Udo M. Chisteé (25)

Réka dorozsmaigallasz – –

1065 Budapest, Bajcsy-Zsilinszky út 53. (1) 316-2800 (1) 316-2800 ahc.Budapest, @ahc-international.hu

Individuals (100) –

Renáta Restás – –

2000 Szentendre, Sztaravodai út 43. E/15 (1) 786-5666 (1) 786-5666 info@pbs-job.hu

Ÿ Ÿ Ÿ Ÿ

99 8

93 6

addRess pHone fax email

3-6 months 2-5 weeks

164 35

top loCal exeCutive Cfo maRketing diReCtoR

industRy speCialization

3-12 months 1-9 weeks

middle management

peRCentage of Candidates plaCed in 2015 (%)

top management

no. of Candidates plaCed in 2015 no. of employees in seaRCH and Consulting on maRCH 1, 2016

otHeR

plaCement fRom database

adveRtising

diReCt seaRCH

bReakdoWn by seaRCH metHods in 2015 (%)

oWneRsHip (%) HungaRian non-HungaRian

tRedis Consulting kft. 18

total net Revenue in 2015 (Huf mln)

Company Website

www.bbj.hu

Budapest Business Journal | April 22 – May 5, 2016

net Revenue fRom ReCRuitment in 2015 (Huf mln)

Rank

22 3

✓

–

✓

–

✓

2005

Humán CentRum kft. www.humancentrum.hu

3,588

7,515

WHC kft.

www.whc.hu 20

t-HR kft.

www.t-hr.hu

bdo magyaRoRszág HR személyzeti tanáCsadó 22 kft.

2,100

–

1,141

68 4

–

56 5

www.bdo.hu

3 months 3-4 weeks

3 months 3-5 weeks

–

3-6 months 2-12 weeks

3-6 months 2-8 weeks

–

3–6 months 2–4 weeks

–

✓

–

✓

–

Ÿ Ÿ

✓

–

✓

–

Job személyzeti tanáCsadó kft. www.jobgroup.hu 23

man at WoRk kft. www.manatwork.hu

dekRa aRbeit 25 magyaRoRszág kft. www.dekra-arbeit.hu

aHC inteRnational peRsonnel Consulting 26 kft.

4,286

615

www.ahc-international.hu

pbs inteRnational kft. www.pbs-job.hu

BBJ_2408_spec_report_OK.indd 22

Ÿ Ÿ Ÿ Ÿ

50 3

Ÿ Ÿ

–

✓

–

✓

–

1993

2002

2016. 04. 20. 22:13

www.bbj.hu

teleCom and media

pHaRmaCeutiCals

sales and maRketing

fmCg

manufaCtuRing

banking and finanCe

guaRantee peRiod ReCRuitment time

industRy speCialization

otHeR

middle management

top management

no. of Candidates plaCed in 2015 no. of employees in seaRCH and Consulting on maRCH 1, 2016

otHeR

plaCement fRom database

adveRtising

diReCt seaRCH

peRCentage of Candidates plaCed in 2015 (%)

1,030

82 8

2,446

132 5

1-6 months 1-4 weeks

–

✓

–

✓

2,652

Ÿ Ÿ

1-3 months 1-7 weeks

✓

Ÿ Ÿ Ÿ Ÿ

Ÿ Ÿ

–

Ÿ Ÿ

3-9 months 4-6 weeks

✓

–

✓

–

Test period 4-6 weeks

–

✓

–

✓

–

✓

oWneRsHip (%) HungaRian non-HungaRian

www.dologido.hu

bReakdoWn by seaRCH metHods in 2015 (%)

yeaR establisHed no. of offiCes WoRldWide

DologiDő Kft. 28

total net Revenue in 2015 (Huf mln)

net Revenue fRom ReCRuitment in 2015 (Huf mln)

Rank

Company Website

Budapest Business Journal | April 22 – May 5, 2016

top loCal exeCutive Cfo maRketing diReCtoR

addRess pHone fax email

2001 12

Péter Vida (14.30), Zoltán Egerszegi (32), Erika Pintér (32), Via Pannónia Kft (17.70), Gábor Csizmadia (4) –

gábor Csizmadia László Pintér Bence Husi

7400 Kaposvár, 48-as ifjúság útja 42. (82) 512-112 (82) 312-570 info@dologido.hu

László Mátyás (80), HSA Kft. (10), Erika Dékány (10) –

lászló mátyás, imre papp Erika Dékány –

4024 Debrecen, Batthyány utca 12/1. (52) 316-242 (52) 316-242 job@hsakft.hu

(100) –

zoltán pataki – Melinda Gyovai

2724 Újlengyel, Határ út 12. (1) 225-7313 (1) 700-2554 eucsoport@eucsoport.hu

Péter Bogdanovits (60), Anikó Pethő (40) –

Anikó Pethő Péter Bogdanovits –

1143 Budapest, Gizella út 42-44. (1) 225-1079 (1) 201-4408 office@aarenson.hu

Hsa kft.

www.hsakft.hu

eu-Jobs kft. www.eujobs.hu

aaRenson Consulting

NR kft. www.aarenson.hu

CaReeR solutions kft. www.careersolutions.hu

foCus Consulting kft. NR www.focusconsulting.hu

ip peRsonnel management ConsultanCy kft.

153

142 9

–

www.ipconsulting.hu

SElEct HuMánErőforráS NR kft. www.select.hu

WoRk foRCe személyzeti tanáCsadó és NR szolgáltató kft.

5,392

Ÿ Ÿ Ÿ Ÿ

Ÿ Ÿ

50 5

–

www.workforce.hu

WoRk Way Club kft. NR www.workwayclub.hu

WoRkplus kft. www.workplus.hu

Ÿ Ÿ Ÿ Ÿ

Ÿ Ÿ

3-6 months 1-6 weeks

3 months 3-6 weeks

Ÿ Ÿ

3-4 months 1–6 weeks

Ÿ Ÿ

2000

2005 1

Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ

2005

Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ

1997

Ferenc Baracskai (100) –

ferenc baracskai – –

1036 Budapest, Lajos utca 74–76. (1) 430-5400 – info@careersolutions.hu

✓

1997 1

Individual (100) –

tímea bíró – –

1138 Budapest, Váci út 135-139. Building C (1) 336-2910 (1) 336-2911 info@focusconsulting.hu

–

1995 1

Judit Kósa (100) –

Judit kósa Beáta Richter Zoltán Paár

1124 Budapest, Koszta J. utca 21. (1) 309-5452 (1) 309-5452 ipconsulting@t-online.hu

1994

Noémi Csaposs Zsoldisné (100) –

noémi Csaposs zsoldisné – –

1113 Budapest, Bocskai út 77-79. (1) 453-2000 (1) 217-8606 office@select.hu

Róbert Csákvári (100) –

Róbert Csákvári – –

1134 Budapest, Váci út 49. (1) 354-3434 (1) 302-8246 titkarsag@work-force.hu

2009

NetworX System Kft. (100) –

József sólyom Zsolt Őry –

1134 Budapest, Róbert Károly körút 82–84. (1) 888-9200 (1) 888-9206 ceginfo@workwayclub.hu

1989

Krisztina Varga (100) –

krisztina varga Gertrúd Darvas Tamás Gyimesi

1072 Budapest, EMKE Irodaház, Rákóczi út 42. (20) 941-4614 (1) 267-9100 workplus@workplus.hu

Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ

–

✓

–

Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ

2004 9

notes: (1) Audited annual data for business year July 1, 2014-June 30, 2015. (2) Data for business year April 1, 2015-March 30, 2016.

Ÿ= would not disclose, NR = not ranked, NA = not applicable

BBJ_2408_spec_report_OK.indd 23

This list was compiled from responses to questionnaires received by Apr 20, 2016 and publicly available data. To the best of the Budapest Business Journal’s knowledge, the information is accurate as of press time. While every effort is made to ensure accuracy and thoroughness, omissions and typographical errors may occur. Additions or corrections to the list should be sent on letterhead to the research department, Budapest Business Journal, 1075 Budapest, Madách Imre út 13–14., or faxed to (1) 398-0345. The research department can be contacted at research@bbj.hu

2016. 04. 20. 22:13

24 3

www.bbj.hu

Budapest Business Journal | April 22 – May 5, 2016

Money – and other ways to buy loyalty

Sándor Baja, managing director Randstad Hungary Kft.

Gabriella Ruff, co-founder of Karrier Hungária.

HR professionals talk about the mix of enticements that help with ‘employer brandingʼ, which is essential to making workers want to join, and stay with, a company. BBJ STAFF

Given the difficulty of finding the right employees, it is important for firms to do what they can to keep their workers happy. When it comes to attracting, and keeping, workers, local HR experts emphasize the importance of “employer branding” – developing a reputation as a good place to work. Hungarian employers can do a lot to improve their brand among their workers, these experts told the Budapest Business Journal. “To keep the competitiveness of our country in the eyes of the employees, we must, over the medium-term, gradually increase salaries. It cannot be that in some cases the same work is paid six times more beyond the River Leitha,” which runs near the Hungarian-Austrian border, said Sándor Baja managing director of Randstad Hungary Kft. But he added that money is not everything. Baja noted that Randstad conducts an annual study of the attractiveness of employers that involves surveying 4,000 workers in Hungary and 200,000 worldwide. (See page 18.) “Randstad defines employer branding via ten attributes,” Baja said. “Indeed salary and benefits are the most important, but companies that pay

BBJ_2408_spec_report_OK.indd 24

Emese Nagy, branch manager of CPL Jobs Kft.

attention to attributes like job security, a good work-life balance, a pleasant working atmosphere, career progression opportunities, interesting job content, financial health, good training, strong management and being socially and environmentally friendly can help make their employees loyal.” According to Gabriella Ruff, a co-founder of Karrier Hungária, developing loyalty among workers requires a concerted effort. “The board of directors, in partnership with local HR, has to understand how important it is to maintain staff in a situation where, for certain positions, there is a real war for talents,” Ruff said. “They should work seriously on long-term incentive packages, as well as creating a work environment that helps employees both professionally and personally in achieving targets and helping them to develop further their career within the company. Employer branding as such plays a very important role nowadays.” Ruff also noted the importance of salary, but she added that there are other considerations, including “the culture of the company, a supportive atmosphere, the opportunity for further career growth. For technical candidates, it is very important how advanced the technology is that they are going to work with, for the ‘Y’ generation it is very popular if they can be trained and they can learn new things and they can develop themselves.” Emese Nagy, branch manager of CPL Jobs Kft., stressed the need to provide job satisfaction. “It is very important that companies are in control of their employer brand and also that they engage in valuable employer branding activities, tailored for the right candidate and employee audience,” she said. “Beyond salary, the types of benefits that are most tempting to employees are career development opportunities, positive workplace environment and flexitime. Employees are drawn to employers who recognize the need that most individuals have for

Tammy Nagy-Stellini, managing director of Hays Hungary.

work/life balance and career progression.” Zsuzsa Gárdus, managing director of JOBSgarden-ITjobs said that money is probably the key consideration for keeping workers, but there are other concerns that matter too. “Increasing loyalty requires a complex HR strategy comprising the type of the job, company culture, compensation and benefit structure, internal career opportunities, training, mentoring, employer’s branding and employee’s performance evaluations,” Gárdus said. “For the ‘X’ and ‘Y’ generations, the work-life balance and complexity of their work have a bigger share within the motivational factors (many professionals put them in the second and third places on the ranking list) than for fresh grads or junior employees.” Tammy Nagy-Stellini, managing director of Hays Hungary, said that workers want to do work that has a meaningful result. “Candidates normally want to add value,” she said, listing other motivational factors: “Giving candidates freedom and trust – allowing them to work from home, flexible hours and yearly pay reviews along with bonuses are key factors to retain employees. Also training, personal development and international exposure (for example working with foreign colleagues) further serve to motivate the candidates, which in return gives companies more loyalty.”

Consultants can help When it comes to treating workers well and developing loyalty, these experts say they can offer the right advice. According to Ruff, “We have instant feedback from the labor market, and we can support our clients identifying eventual problems or issues to be solved.” She said an HR consultant could help a firm “to transmit your employer branding message to potential candidates, to promote the clients and to help to explain the benefits they are offering as well.”

Zsuzsa Gárdus, managing director of JOBSgarden-ITjobs Kft.

Nagy of CPL said a firm like hers could help increase awareness of a client’s employer brand. “Using a variety of different communication channels, such as digital media, we advertise all of the initiatives the client company has in place, to encourage employee loyalty,” she said. “We can also offer clients an insight into the types of perks and benefits that are most likely to appeal to the talent audience that best fits each individual employer company. Thus we can begin to generate a positive employer image and ensure the right talent gets the right message.” Gárdus of JOBSgarden-ITjobs said that her firm has done its homework on the issue, as clients have asked it to do market research on what motivates workers to choose a workplace. “We involved in our research different ages and focused mainly on the technology sector,” she said. “Based on the results, we came to the conclusion that the common indicators at each seniority level are compensation and benefits, career opportunies, professional training (both on the job training as well as external), and working conditions.” As for research, Baja noted that his firm’s annual survey focuses on what companies need to do to be more attractive. “We have run our worldwide study for 16 years now,” he said. “Our mission is to ‘Shape the World of Work’. If companies are stronger, it will be easier for us to sell them to the candidates.” Nagy-Stellini said her firm could help others because it keeps an eye on the market and follows trends. “If companies would like to attract and retain the best talents, they need to focus even more on employer branding as the market is rapidly changing,” she said. “As we at Hays are meeting candidates first, we are able to support and further emphasize the brand of the company from the start, which we normally do since we have a strong partnership with our clients allowing us to have a better insight.”

2016. 04. 20. 22:13

www.bbj.hu

Budapest Business Journal | April 22 – May 5, 2016

HR experts see drop in temp arrangements

Péter Berta, CEO of the HR firm WHC.

Róbert Csákvári, managing director of Work Force Kft.

With more jobs going wanting, companies seem to prefer permanent staff, and workers are also apparently happier with this arrangement, according to local employment specialists.

Attila Molnár, managing director of Pannonjob.

employment,” says Csaba Greguss, permanent placement director at the Hungarian employment agency Adecco Kft. “However, because of the periodical nature of production, there is a need for temporary workers.” According to Péter Berta, CEO of the HR firm WHC, which handles both permanent and temporary placement, Hungarian workers have warmed to the idea of temporary assignments as a way to find full-time work. “Temporary work is more popular nowadays than it was some years ago,” he says. “Employees realized that temp work is an effective way to get a good job – it is the entrance door to our clients.” Róbert Csákvári of Work Force Kft. maintains that some workers have actually become accustomed to the arrangement of temporary assignments. “Employees were more skeptical a few years ago, but now they understand how this scheme works, and that they can work with reliable companies,” he says. “Some of them find work this way for years, while others are taken on full-time by employers, and we often find new jobs for those who are not needed anymore for a project.” Csákvári notes that companies certainly see the advantages of being able to add temporary help when facing a sudden boost in demand. “This sector

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Although the fluctuating demands of companies involved in production, and other areas, mean that temporary workers are sometimes helpful, firms that handle temporary recruitment say that, in this tight labor market, the trend seems to be toward providing permanent jobs. “While companies are willing to use a temporary workforce to a greater extent, candidates for open positions are not always 100% motivated to choose such an opportunity over permanent

Imre Papp, managing director of recruiters HSA Kft.

Csaba Greguss, permanent placement director at Adecco Kft.

our experience, there is an increasing importance of employment agencies in the recruiting process. They can provide support to employers, using their experience and widespread office network to find the right quantity and quality of employees in the current Improving conditions for workers narrowed labor market. We can say that But if companies want to enjoy the with our complex solutions, in most ability to build and reduce staff quickly, cases we were able to ease successfully Csákvári says, they need to make the the labor shortage of our clients.” arrangement attractive for workers. According to Imre Papp, managing “Employers have to rethink their director of HSA Kft., a recruiting firm compensation strategies, especially for that handles permanent and temporary staffing needs, most Hungarian semi-skilled workers,” he explains. Attila Molnár, managing director companies are looking for permanent of Pannonjob Humán Szolgáltató és staff. Tanácsadó Kft., agrees that firms need “It is a special feature of eastern to do what they can to improve the Hungary that temporary workers are situation for workers, even temporary still preferred, because there is a lot of agricultural seasonal work going on workers. “Because of the severe workforce there,” he says. Elsewhere, however, “the shortage, employers and the situation before the economic crisis has employment agencies have to face a returned, and nowadays companies rather completely new situation regarding the want permanent staff. There is purchasing workforce market, and if they want to power again; there is consumption; there succeed, it is necessary to implement is need for new products and that means new methods of recruiting, like companies prepare products at full speed. countrywide recruitment campaigns Our partners all beat their record requests, – and providing accommodation and larger companies cannot meet their transportation for the people being recruitment targets on their own, and that employed,” Molnár says. “Based on makes them turn to HSA for help.” significantly contributes to the overall flexibility and efficiency of the labor market,” he says. “Nowadays, flexibility and operational rationalization have become more important motivators.”

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Hungarian the November, In plans to expand tills to government announced use of electronic the mandatory taxis, laundries ANIKO FENYVESI include auto mechanics,offices. had and currency exchange end of 2014, NAV with their taxes on earnings Already by the of cases As companies file most should find that encountered thousands companies in the made last year, fined several huge differences shortfalls and following a series there are not the new regulations, for failing to complyNAV also noted a by amount owed under experts interviewed of targeted audits. in VAT revenue of according to tax tabs on trucks. Journal. of the subsequent increase authorities keep the Budapest Business billion by the end regulations help enforcement measures come nearly HUF 200 according more EKAER Still, stricter in the years to tills’ operation, some firms pay most to have higher burdenslose their tax losses first year of the may mean that that the measure previous tax before. And they will to reports. It appears of tax losses in Minister Mihály this because than they did explains Antretter. probably already great deal to benefit from what Economy from previous years,” that are able reduce amount periods would be able “shadow economy” companies have was changed calls Hungary’s increase in the Conversely, companies experienced an involved in reporting measure, but the legislation Antretter of of the new gross Varga success. Erzsébet to take advantage lower income tax is a resounding of administration the right amount on last year,” explains will have Hungary. difficult tax consultants Accacesystems, Hungary tax credits year, Antretter adds. The income and paying with the more tax electronic monitoring burdens this tax credit idea, time. Complying Like many other to carry forward downside is that the grosswith before- Increased burden is a good pay administrative allows businesses to businesses declarations of elsewhere as those who missed VAT several losses by postponing expectation that only applies exceeding that of previous While experts say that the experts say, punctually for the majority on the tax profit far will not have to still represent accurately and benefits. those losses, further profitable in coming years. “Such companies on the portion payments can enjoy some this could be hardwould be more from years in a row income tax of unpaid taxes, proposed interviewed are about they The firm could deduct a loss the The experts through filing pay corporate times higher than reduced years. invoicing generalizations on its current profit that is five pressed to make should expect to pay several years ago year, to reduce their of the Antretter explains, introduction of online corporate measure in previous years,” in fast growing linked directly to NAV. This to follow whether companies for a very profitable that companies to income. the authority more or less. to five adding are the most likely would allow business. For example taxable as it does with limitations – down will sectors, such as IT, “It depends on the benefit from tax loss in real time, just “Now there are growth. – so companies to for invoicing see such exponential had a tax years from 2015 if someone used tills. be advantageous yet companies that “Changes may for example freight electronic on the measure have not of carry forward, Details in other forms specific sectors, confirmed, but tax companies operating in VAT been electronic monitoring by the forwarders or by a decrease closer place. sectors affected ADVERTISEMENT Lunczer of VGD authorities are already in might rates,” notes Katalin 1, the tax authority Kft. “Companies As of January software Ferencz & Partner new tax base and taxnew invoicing introduced a the government benefit from the income tax items, requirement that will help more credits reducing corporate a business’ activityadd-on donations and tax and scrutinize software including easier cultural purposes local closely. 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 14

Office design,

JAN 29, 2016 – FEB 11, 2016

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Andrew Vajna, the Hollywood producer who became Hungary’s film commissioner, was criticized for how he supports local movie makers. But an Oscar nomination is an argument in his favor. 6

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Budapest Business Journal | April 22 – May 5, 2016

Hungary slowly plugs into digital HR management The attitudes of older workers, along with outdated laws, mean that paper has not disappeared from the process of administering workers’ needs in Hungary, but recruiters certainly see the potentials of Big Data. LEVENTE HÖRÖMPÖLI-TÓTH

The latest electronic HR management tools create self-service systems for employers and employees alike. The reception of these tools in Hungary is predominantly positive, especially in places like the country’s largest telecommunications firm, Magyar Telekom. The use of cutting-edge solutions at the telco giant helps 8,000 workers handle job-related personnel tasks in a simple, user-friendly fashion. In fact, Magyar Telekom uses a separate interface called Reflex, which lets employees find all their personally relevant information – from pay-roll records to performance reports. As of last year, even paper attendance sheets were eliminated, a change that helped Magyar Telekom keep its commitment to sustainability. Experience has shown that in-house staff can handle such tools comfortably and seem more than happy that previous offline methods have gone down the drain for good. “Online administration replaces the burden of standing in line in the HR department or running around with paperwork to sign. Personal data is accessible anywhere, anytime,” Szilárd Ocskay, managing director of NEXON, a market leader at developing HR-related software, tells the Budapest Business Journal. “Executives gain a clear overview online of the records of their subordinates in relation to work time, leave applications or shifts, and they can carry out their not-so-beloved HR administrative duties.” Another key aspect according to Ocskay is that employees, for HR purposes, should be considered as customers who can be served by the HR crew faster and more accurately. “This is to boost satisfaction.”

The world of work at your fingertips: Sophisticated new HR systems give employees easy access to their records. Zoltán Gazdik, head of digitalization at Vízkezelést Tervező és Kivitelező Kft., underlines the existence of that skepticism, even if his company uses NEXON’s state-of-the-art solutions. “Our HR department often faces a double burden, since paper-based administration must still be done extra for ‘old-fashioned’ workers. On the other hand, they are often obliged to do so in many cases by outdated legal regulations. Where a paper format is required for keeping records by law, digitalization can be only secondary and thus offers fewer advantages. All-in-all, however, they are greatly relieved in terms of administration and information provision as a result of data changes effected online and automatically generated information,” he notes.

“When such systems function seamlessly, it is a positive experience for the management and their subordinates. ... However, mastering them requires a lot of effort and knowledge, and you can add the fact that workers have a skeptical attitude towards any novelty. ”

without an electronic database,” says Sándor Baja, managing director of Randstad. Just think of the assistanttype vacancies that can draw up to 100 applications. Feedback is important for every applicant and, thanks to the technology, they all can receive a personalized reply, he noted. Automation further helps follow up certain stages of recruitment, and it is of huge significance when mass recruitments take place. “We can provide speedy service with great added value for our customers Recruitment on the e-highway if applicants in our data bases can be Pain or relief? The flow of everyday HR tasks is being searched and addressed by targeted “When such systems function seamlessly, altered by e-management in other ways, newsletters in the most sophisticated it is a positive experience for the too. Randstad, a firm specialized in HR way possible,” Baja says. “That requires management and their subordinates as services, uses recruitment and selection- a very detailed registration, which, on well since life gets simplified. However, related tools in its daily business. the other hand, should not be so long mastering them requires a lot of effort Professional CV and process management that it would discourage candidates from and knowledge, and you can add the fact is of strategic importance at Randstad, completing the process. On a demandthat workers have a skeptical attitude but the sheer volume of managed material driven market where competition for toptowards any novelty. Now, this skepticism poses huge challenges. tier professionals is fierce, you must bear can be overcome only through perfectly “Our database contains more than that in mind.” functioning systems,” Róbert Csákvári, 290,000 résumés. Now it is unthinkable Csákvári of Work Force agrees that Big managing director of recruitment firm that you could try to manage CVs and Data is changing HR. The question is who candidate applications successfully draws what conclusions from it, and what Work Force Kft., says.

BBJ_2408_spec_report_OK.indd 26

innovations it may lead to. “Hungary can’t pride herself on having as high an e-HR penetration as Western Europe or the United States, but the number of Hungarian companies recognizing its potential is on the rise,” he says.

A matter of taste Due to the bottomless pot of opportunities inherent in e-HRM, tailor-made solutions can be found, which gives customers reason to cheer. Yet, in the experience of Work Force Kft., clients range widely from those who prefer the personal touch and dislike automation, to those who want to make HR-related information available on every platform. As Csákvári points out, they “want to serve, and simultaneously form, customers’ needs. An optimal balance should be struck between e-HR and company management, when special needs can be applied so that they further strengthen processes for the sake of a motivated and effective operation.”

2016. 04. 20. 22:13

www.bbj.hu

Budapest Business Journal | April 22 – May 5, 2016

CEU BUSINESS SCHOOL

HR managers lead drive for integrity these risks, companies use a variety of compliance tools, programs and processes. Noemi According to a survey published by Alexa EY in January, 30% of large companies operating in Hungary have codes of conduct, conflict of interest declarations Professor and reporting hotlines. Some companies CEU BUSINESS take a further step, recognizing SCHOOL the importance of top leadership in transmitting values of integrity in order to make these preventive structures work. The HR Benchmark Survey confirms that 44% of companies in Hungary consider Most firms with codes HR departments the one to guarantee fair operation. They are right; the role of conduct depend on of HR managers in forming the integrity the HR department to culture of a company has gone far beyond organizing ethical training. handle the dissemination An HR manager works as a conductor and enforcement of their of an orchestra, where all musicians want to play their preferred but divergent ethical rules. tunes and the role of the conductor is to coordinate these tunes in such a way that When it comes to corruption risks the audience enjoys the music. How can in business, we usually think about you manage your talent without being businesspeople bribing government blamed for favoritism? How can you officials in order to get contracts, control the activities on the company’s permissions or some type of market electronic devices and ensure trust and advantage. We also think about the empowerment of your employees? How corruption risks in supply, procurement will you achieve ambitious business and sales departments. To mitigate goals and ensure that everybody keeps

Since employees are in everyday contact with their immediate managers, they Recruitment, selection, sense company values, culture and rules compensation and performance through middle managers’ decisions and actions. evaluation systems should be If employees see middle managers circumventing regulations, they will perceived as fair and just. not be willing to keep to them either. On the one hand, they will not feel that regulations should be taken seriously, to the high ethical standards of your and on the other they will not feel that company? HR managers are supposed to their managers should be taken seriously. know the answer to these and many more On the contrary, if employees perceive potentially contradictory questions. that their direct managers behave with HR managers face plenty of integrity integrity, it is a signal for them to keep dilemmas and risks when exercising to company rules and to trust their different HR functions. Recruitment, superiors. Therefore, when it comes to selection, compensation and performance introducing any organizational change, evaluation systems should be perceived the best allies of HR leaders are those as fair and just. If not, the message of top middle managers who are perceived to leadership committed to ethical operation behave with integrity. and integrity values will be lost. At the Using HR as an advocate for integrity same time, an ethical climate helps the pays off for both the CEO and the HR work of HR managers. It reduces stress, director. Why not make the most of this poor health and absenteeism while opportunity? increasing the job and life satisfaction of employees. This column is part of a continuing series Organizational change is more of opinion columns from experts at the effective in companies operating with CEU Business School in Budapest. The a culture of integrity. Middle managers opinions stated here do not necessarily play a key role in the success or failure reflect those of the Budapest Business of introducing organizational change. Journal.

Keep in touch with the Dutch!

Interview with Lóránt Kibédi Varga, chairman of Dutcham Working for more than a decade for Dutcham, how would you explain its objectives? The chambers’ mission is to provide a platform for Dutch and Hungarian companies to build a valuable network that enables them to grow and prosper. Since its foundation in 2002, Dutcham evolved into one of the most vibrant business communities in Budapest. It aims to facilitate the exchange of professional expertise and provide networking possibilities for Dutch companies operating in Hungary and also for those Hungarian companies setting foot in the Netherlands. We are a self-financed business association with active co-operation with the Royal Netherlands Embassy in Budapest and the Embassy of Hungary in the Hague. What are your focus areas? Dutcham‘s goal is to create a hub for knowledge sharing and networking via our business events and activating co-operation among our members. Moreover, leverage our valuable relationships in order to support business in Hungary for these companies. We also act as an

BBJ_2408_spec_report_OK.indd 27

from big multinationals to SMEs including private persons. Naturally our aim is to continuously expand our network so if you happen to know someone whom you think could benefit from joining Dutcham please let us know!

advocate regarding various business challenges on behalf of our members by building strategic alliance with key influential organizations to make our voice more heard. What kind of events do you have on your agenda? We offer a mixture of networking events - like business lunches and

drinks -, and professional events including legal, financial, tax, HR/ leadership, real estate and logistics seminars. Our aim is to share best practices while building a strong networking base. How many members do you have? Currently we have close to 100 members from various sectors, sizing

You are organizing the first Rice Table Dinner party in May. What does Indonesian food has to do with Dutcham? Rijsttafel – a phrase coined by the Dutch, which literally means “rice table”. It is very popular in the Netherlands, you can find several restaurants offering Rijsttafel. Honoring this tradition Dutcham introduces the annual Rice Table dinner party to familiarize with the heritage of Indonesian food in the Netherlands. Join our unique evening full of culinary experiences, entertaining live music and good company!

NETHERLANDS-HUNGARIAN CHAMBER OF COMMERCE HOLLAND-MAGYAR KERESKEDELMI KAMARA

2016. 04. 20. 22:13

28 3

www.bbj.hu

Budapest Business Journal | April 22 – May 5, 2016

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1134 Budapest, Váci út 45. G/7. (1) 323-3500 (1) 323-3529 adecco@adecco.hu

1990 1 1

(100) –

géza homonnay Balázs Címer –

1114 Budapest, Bartók Béla út 15/D (1) 372-0692 (1) 372-0693 recepcio@gamax.hu

–

1993 7 7

Videoton Holding Zrt. (100) –

fatime touré, attila molnár Anikó Bánhidi Édua Hajdu

8000 Székesfehérvár, Berényi út 72–100. (22) 554-193 (22) 554-191 info@pannonjob.hu

–

1990 5 6

Zoltán Tóth (60), Péter Berta (30), Viktor Göltl (10) –

péter berta – –

8900 Zalaegerszeg, Ady Endre utca 2. (92) 550-050 (92) 550-060 whc@whc.hu

–

adeCCo kft. www.adecco.hu

3,712 80

gamax kft.

2,177

pannonJob humán sZolgáltatÓ És tanáCsadÓ kft.

2,075

www.gamax.hu

www.pannonjob.hu

WhC kft.

www.whc.hu 6

2,072 65

Leading HR service provider of Hungary www.prohuman.hu

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www.bbj.hu

total numbeR of tempoRaRy WoRkfoRCe in 2015 no. of billed houRs in 2015

total net Revenue in 2015 (huf mln)

1,899 60

5,337

5,373 3,276,711

5,392

4,612

5,337 2,913,545

4,203

3,186 2,250,230

4,286

–

1,152 36

2,748

2,713 2,262,944

2,892

100

–

1,035 40

3,792

1,582 1,996,553

3,796

100

–

yeaR established no. of offiCes in hungaRy WoRldWide

oWneRship (%) hungaRian non-hungaRian

8272 Óbudavár, Fő utca 31. (88) 400-453 (88) 400-453 manatwork@manatwork.hu

–

2004 8 8

László Küzmös (100) –

lászló küzmös, ákos Jáhny Gabriella Molnár –

1023 Budapest, Árpád fejedelem útja 31. (1) 766-5626 (1) 766-5618 getwork@getwork.hu

–

Trenkwalder Személyzeti Szolgáltató Kft. (100) –

tamás fehér Attila Győry Nóra Medve

1132 Budapest, Váci út 22–24. (1) 354-0933 (1) 302-7589 infohungary@trenkwalder.com

Imre Horváth (100) –

istván bojó – –

1214 Budapest, Mag utca 3. (1) 789-6538 (1) 799-0926 info@proﬁeldkolcsonzo.hu

(100) –

tibor urbán – –

1075 Budapest, Holló utca 3–9. (1) 877-0900 (1) 877-0910 info@humancentrum.hu

otheR

Csaba ottó Orsolya Horvai Módné Kinga Kincső Tóth

legal

–

Volano Kft. (100) –

industRial

–

1998 5 5

sales and maRketing

Grosvenor Kft. (100) –

2004 16 18

teChniCal

Róbert Csákvári – –

finanCe

Róbert Csákvári (100) –

CleRiCal WoRk

2004 9 9

White-CollaR

top loCal exeCutive Cfo maRketing diReCtoR

blue-CollaR

bReakdoWn of temps supplied by seCtoR in 2015 (%)

peRmanent

tempoRaRy

net Revenue fRom tempoRaRy plaCement in 2015 (huf mln)

WoRk foRCe sZemÉlyZeti tanáCsadÓ És sZolgáltatÓ kft.

bReakbReakdoWn of doWn of plaCetype of ments WoRk in duRation 2015 (%) in 2015 (%)

aveRage statistiCal headCount in 2015 no. of full-time employees on maRCh 1, 2016

Rank 7

Company Website

Budapest Business Journal | April 22 – May 5, 2016

–

www.workforce.hu

addRess phone fax email

1134 Budapest, Váci út 49. (1) 354-3434 (1) 302-8246 titkarsag@work-force.hu

pannonWoRk ZRt. www.pannonwork.hu

1,647

4,907

–

100

géza homonnay, 1114 Budapest, arnold bozi, Bartók Béla út 15/D lászló várdai (1) 372-0692 – (1) 372-0693 László Várdai pannonwork@pannonwork.hu

man at WoRk kft. www.manatwork.hu

1,334

get WoRk tRend kft. www.getwork.hu

tRenkWaldeR HUMÁNERőfoRRÁS Kft. www.trenkwalder.hu

pRofield MUNKAERő-KÖlCSÖNZő 12 kft. www.proﬁeldkolcsonzo.hu

1,009 20

2,991

1,871

2004 16

3,011

2010 1 1

3,588

–

1993 17 17

humán CentRum kft. www.humancentrum.hu

925

hc_tippek_252x77mm_v5.pdf

Kölcsönzés Közvetítés Bérszámfejtés Outsourcing

www.humancentrum.hu

19/04/16

3,516,550

13:26

7 bevált tipp

CMY

munkaerő-kölcsönzők és közvetítők előminősítéséhez

MIND-DIÁK SZÖVETKEZET

www.minddiak.hu

DIÁKMUNKA

gyorsabb kiválasztás egyszerűbb foglalkoztatás alacsonyabb ráfordítás (30-40%)

http://www.humancentrum.hu/7tipp

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teChniCal

sales and maRketing

industRial

legal

otheR

–

oWneRship (%) hungaRian non-hungaRian

finanCe

yeaR established no. of offiCes in hungaRy WoRldWide

CleRiCal WoRk

2,446

White-CollaR

2,520 1,570,954

blue-CollaR

2,409

bReakdoWn of temps supplied by seCtoR in 2015 (%)

peRmanent

total net Revenue in 2015 (huf mln)

848 43

bReakbReakdoWn of doWn of plaCetype of ments WoRk in duRation 2015 (%) in 2015 (%)

tempoRaRy

total numbeR of tempoRaRy WoRkfoRCe in 2015 no. of billed houRs in 2015

Company Website

net Revenue fRom tempoRaRy plaCement in 2015 (huf mln)

Budapest Business Journal | April 22 – May 5, 2016

aveRage statistiCal headCount in 2015 no. of full-time employees on maRCh 1, 2016

Rank

30 3

top loCal exeCutive Cfo maRketing diReCtoR

2000 11 11

László Mátyás (80), HSA Kft. (10), Erika Dékány (10) –

lászló mátyás, imre papp Erika Dékány –

4024 Debrecen, Batthyány utca 12/1. (52) 316-242 (52) 316-242 job@hsakft.hu

gábor Csizmadia László Pintér Bence Husi

7400 Kaposvár, 48-as ifjúság útja 42. (82) 512-112 (82) 312-570 info@dologido.hu

Zoltán márkus Henrietta Gyurkóczi Róbert Tamás Tóth

1118 Budapest, Előpatak utca 78. (1) 248-2010 (1) 248-2016 info@humaniahrsgroup.hu

addRess phone fax email

hsa kft.

www.hsakft.hu 14

DologiDő Kft. www.dologido.hu

m u n k a e rő k öz ve t ítő

k ö l c sö n ző

humánia hRs gRoup ZRt. www.humaniahrsgroup.hu

578 40

997

2,634 722,983

1,030

–

2001 12 12

Péter Vida (14.30), Zoltán Egerszegi (32), Erika Pintér (32), Via Pannónia Kft (17.70), Gábor Csizmadia (4) –

574 852

Ÿ Ÿ

4,170

2001 18 18

Individuals (100) –

munkaerő-kölcsönzés

Korrekt. Munka. Erő.

munkaerő-közvetítés

www.hsakft.hu facebook.com/hsakft

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532 565

1,841

1,258 709,231

3,776

oWneRship (%) hungaRian non-hungaRian

2005 1 1

(100) –

Zoltán pataki – Melinda Gyovai

2724 Újlengyel, Határ út 12. (1) 225-7313 (1) 700-2554 eucsoport@eucsoport.hu

2004 2 4,473

– Randstad Holding N.V. (100)

sándor baja Lívia Tóth Ágnes Szokody

1024 Budapest, Lövőház utca 39. (1) 411-2090 (1) 411-2091 info@randstad.hu

legal

industRial

sales and maRketing

teChniCal

finanCe

CleRiCal WoRk

White-CollaR

blue-CollaR

peRmanent

tempoRaRy

2,652

top loCal exeCutive Cfo maRketing diReCtoR

otheR

total net Revenue in 2015 (huf mln)

1,563

Ÿ Ÿ

bReakdoWn of temps supplied by seCtoR in 2015 (%)

yeaR established no. of offiCes in hungaRy WoRldWide

www.eujobs.hu

total numbeR of tempoRaRy WoRkfoRCe in 2015 no. of billed houRs in 2015

541

bReakbReakdoWn of doWn of plaCetype of ments WoRk in duRation 2015 (%) in 2015 (%)

net Revenue fRom tempoRaRy plaCement in 2015 (huf mln)

aveRage statistiCal headCount in 2015 no. of full-time employees on maRCh 1, 2016

eu-Jobs kft. 17

Rank

Company Website

Randstad hungaRy kft. 18

www.randstad.hu

Budapest Business Journal | April 22 – May 5, 2016

addRess phone fax email

kelly seRviCes hungaRy kft.

529 39

1,840

1,918 921,786

1,990

–

2004 1 1

– Kelly Services Inc. (96.70), Kelly Properties LLC (3.30)

anikó Jónás Zsolt Szabó Szilvia Varga

1085 Budapest, Kálvin tér 12. (1) 301-7859 (1) 301-7880 info@kellyservices.hu

MANPoWER MUNKAERő sZeRveZÉsi kft.

468 47

1,971

1,366 679,907

2,756

1990 5 2,900

– Manpower France Holding SAS (100)

lászló dalányi Gábor Rajkai Miklós Horváth

1133 Budapest, Váci út 76. (1) 411-1590 (1) 266-0536 manpower@manpower.hu

400 240

758

522 393,904

785

–

2001 5 15

Individuals (84.93) Starjobs Ltd. (10), Enersense Oy (5.07)

péter megyeri Gyula Serfőző Zoltán Kott

1093 Budapest, Czuczor utca 10. (1) 456-0700 (1) 217-8606 kocso.petra@starjobs.hu

325 39

977

1,154 643,897

1,140

–

2000 10 10

Csilla Vidó (100) –

Csilla vidó Tímea Hornyák Zsóﬁa Horváth

2500 Esztergom, Jókai Mór utca 8. (1) 878-0145 (1) 878-0160 info@hrcv.hu

–

2005 21 21

Floridita Szolgáltató és Tanácsadó Kft. (50), Milagroso Gerifalte Szolgáltató és Tanácsadó Kft. (50) –

tibor tóth Péter Vida Dániel Fatuska

2724 Újlengyel, Ady Endre utca 11. (29) 385-085 (82) 423-104 info@munka-ero.hu

–

2001 5 5

Géza Homonnay (51), Tibor Takács (49) –

tibor takács Dalma Takács Anita Csibráki

8000 Székesfehérvár, Szörényi út 89. (22) 509-900 (22) 509-901 info@humannavigator.hu

www.kellyservices.hu

www.manpower.hu

staRJobs magyaRoRsZág humánsZolgáltatÓ kft. www.starjobs.hu 21

hRCv sZemÉlyZeti sZolgáltatÓ kft. www.hrcgroup.hu

MUNKA-ERő KÖlCSÖNZő ÉS KÖZVEtÍtő Kft. www.munka-ero.hu 23

237 27

humán navigátoR kft. 24

231 18

www.humannavigator.hu

BBJ_2408_spec_report_OK.indd 31

482

977 376,032

788

699 451,237

490

814

–

2016. 04. 20. 22:14

www.bbj.hu

–

100

–

576

293 319,200

576

–

100

–

570

234 25,900

270

125 170,000

yeaR established no. of offiCes in hungaRy WoRldWide

oWneRship (%) hungaRian non-hungaRian

top loCal exeCutive Cfo maRketing diReCtoR

1992 2 2

László Hadi, Botond Csordás, Attila Dobár –

attila dobár György Thury –

–

2012 4 4

Roland Varga Péter tőkés (60), Orsolya Horvai Péter Tőkés (40) Módné – Kinga Kincső Tóth

–

2005 4 65

– DEKRA Arbeit GmbH (100)

marianna majtényi – Gábor Behina

1051 Budapest, József nádor tér 9. (1) 461-9080 (1) 461-9089 dekra@dekra-arbeit.hu

–

2002 1 1

Péter Tokár (97), Tamás Tokár (3) –

péter tokár Renáta Horváth Ferenc Keresztúri

1132 Budapest, Váci út 18. (1) 279-0707 (1) 466-0549 info@tesk.hu

–

1997 1 1

Individual (100) –

tímea bíró – –

1138 Budapest, Váci út 135-139. Building C (1) 336-2910 (1) 336-2911 info@focusconsulting.hu

Ÿ Ÿ

Individuals (100) –

dénes osztroluczky – –

1134 Budapest, Kassák Lajos utca 69-71. (1) 555-1585 (1) 555 1586 esense@esense.hu

2007 1 239

– Hays Plc. (100)

tammy nagy-stellini Aleksandra Keller Zsuzsa Krizbai-Orbán

1054 Budapest, Szabadság tér 7. (1) 501-2400 (1) 501-2402 hungary@hays.hu

1994

Noémi Csaposs Zsoldisné (100) –

noémi Csaposs Zsoldisné – –

1113 Budapest, Bocskai út 77-79. (1) 453-2000 (1) 217-8606 ofﬁce@select.hu

2009

NetworX System Kft. (100) –

József sólyom Zsolt Őry –

1134 Budapest, Róbert Károly körút 82–84. (1) 888-9200 (1) 888-9206 ceginfo@workwayclub.hu

otheR

legal

industRial

sales and maRketing

teChniCal

finanCe

bReakdoWn of temps supplied by seCtoR in 2015 (%)

CleRiCal WoRk

White-CollaR

blue-CollaR

1,141

peRmanent

1,072

357 336,656

tempoRaRy

total numbeR of tempoRaRy WoRkfoRCe in 2015 no. of billed houRs in 2015

bReakbReakdoWn of doWn of plaCetype of ments WoRk in duRation 2015 (%) in 2015 (%)

net Revenue fRom tempoRaRy plaCement in 2015 (huf mln)

Company Website

total net Revenue in 2015 (huf mln)

Budapest Business Journal | April 22 – May 5, 2016

aveRage statistiCal headCount in 2015 no. of full-time employees on maRCh 1, 2016

Rank

32 3

addRess phone fax email

1094 Budapest, Angyal utca 24. (1) 239-9922 (1) 239-9926 info@job.hu

Job sZemÉlyZeti tanáCsadÓ kft. www.jobgroup.hu 25

SZEMÉlYZEt KÖlCSÖNZő ÉS KÖZVEtÍtő Kft. www.szemelyzet.hu

dekRa aRbeit 27 magyaRoRsZág kft. www.dekra-arbeit.hu

194 20

184 1

165 10

615

–

8272 Óbudavár, Fő utca 31. (87) 655-284 (87) 655-284 orsi@manatwork.hu

tesk tanáCsadÓ kft. www.tesk.hu

90 24

foCus Consulting kft. www.focusconsulting.hu

15 10

esense human ResouRCes NR sZolgáltatÓ ZRt.

www.esense.hu

400

–

Ÿ Ÿ

769(1)

–

100

–

Ÿ Ÿ

153

–

100

–

2007

hays hungaRy kft. www.hays.hu NR

seleCt

NR HUMÁNERőfoRRÁS Kft. www.select.hu

WoRk Way Club kft. www.workwayclub.hu

Ÿ Ÿ

notes: (1) Audited annual data for business year July 1, 2014-June 30, 2015.

Ÿ= would not disclose, NR = not ranked, NA = not applicable

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4 Socialite BBJ

Back in town

Ken-Ichiro Kobayashi a central figure of Hungarian classical music in the 1980-â€™90s returns to conduct the Hungarian Radio Symphony Orchestra. Whatâ€™s On, Page 36-37.

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Budapest Business Journal | April 22 – May 5, 2016

‘Camp of Courage’ helps kids through hard times Children battling serious illnesses have a chance to relax, and receive encouragement, at this wonderful institution called Bátor Tábor. CHRISTIAN KESZTHEYI

Providing life-changing experiences, Hungary’s Bátor Tábor, which roughly translates as “Camp of Courage”, offers help for the recovery of seriously ill children and their families, free of charge. Children in the camp can participate in horse riding, archery, rowing, and wall climbing and even engage in theatrical acts. The object of the camp is to prove to children that there are no obstacles they cannot tackle. “The high rope course that is available for the wheelchair-bound at a height of six meters high on trees is a great example of this,” Bátor Tábor CEO Ervin Vadász told the Budapest Business Journal. He said that activities are monitored by a team of medical professionals accompanied by volunteers to provide the maximum possible safety for children. The chief aim of Bátor Tábor is to boost children in their recovery process once they leave the camp. Below, Vadász explains the details of this camp, which relies on support. Those looking to help should visit the website at: www.batortabor.hu/en/

Shown are happy campers at Bátor Tábor last year.

The foundation has been operating for 15 years. How do you evaluate this period? A: In 2001 we launched our services in two sessions, involving altogether 70 children who had cancer. Today we deal with approximately 1,000 children a year, completely free-ofcharge. This year we will welcome our 8,000th camper. Our programs and our campsite in Hatvan have gone through excessive development thanks to the work and support of our volunteers and supporters. Since 2007, Bátor Tábor has been the part of SeriousFun Children’s Network, an international camp association founded by Oscarwinner Paul Newman. Bátor Tábor has grown into a strong brand and become an important member of the association, through its high quality work. This is well-proven by professionals arriving from abroad to learn from us, as well as our attracting international volunteers.

What are your short- and mid-term plans for the future? A: Bátor Tábor is a unique initiative in the Central European region, considering both its methods and its approach to children. We are a therapeutic recreation center for children with chronic illnesses from the whole region, as beyond Hungary, children arrive at our camp from Czech Republic, Poland and Slovakia. Our longterm goal is to strengthen the recognition of our services by serving more children from the region, and developing our programs further too. As the capacity of

BBJ_2408_socialite.indd 34

the camp is limited, we have launched a new program in Hungary and Poland entitled “GO! Camp anywhere”, taking our healing activities and exercises to children who cannot attend the camp due to their medical conditions.

Transparency is becoming more important these days than any time. How do you provide maximum transparency?

A: I have worked in the business sector for 19 years, in various parts of the world, working as a senior executive with leading multinational companies. I know what is important for companies who decide to support us and connect their image with ours. Transparency for a foundation has an especially important role: It is the key to sustainable operations and is the only way leading to long-term success. We are responsible for our mission so

we pay special attention to preserving the security of our programs and our independence. For this we plan in advance; we work on the basis of threeyear business and strategic plans, in order to stay on firm pillars. Our finances are audited by Deloitte every year, our results are public, and our annual financial reports are available for view on our website. Our mission is the most important thing for us; we only accept

2016. 04. 20. 22:15

4 Socialite

www.bbj.hu

Budapest Business Journal | April 22 – May 5, 2016

support from companies and individuals. Becoming a member of the SeriousFun international camp association ensures our professional quality, as we need to apply its serious requirements and annual validation procedure. We always inform our donors how we spend the money offered.

According to recent research, half of Hungarians still do not distribute 1% of their taxes for civilian organizations and another 1% for religious organizations annually. What do you think is the reason for this? A: The survey by Human Dialog shows that the biggest problem is ignorance and being uninformed. There are many who do not even know that 1% of their taxes could be sent to civilian organizations and another 1% to religious organizations. It was surprising to see that, based on the findings of the research, Hungarian men are less likely to offer 1% of their taxes for such purposes. I would like to encourage everybody to help the work of civilian organizations with 1% of their taxes. With the help of an average 1% tax donation we can cover the costs of the medical safety of a child attending one of our camps.

How can businesses help you? A: We pay special attention to helping businesses find a form of helping us that suits them most. One of the most significant sources for our income is the 1% of taxes. If a company takes Corporate Social Responsibility seriously, then it can remind its workers to offer 1% of their taxes for charity in the tax return period. The camp can be hired for business events when children are not using them, and the income from such events is spent

on offering programs for children. This is a classic win-win situation, as we offer training and team-building opportunities in an unforgettable atmosphere for businesses, while they are supporting good causes. Another way of donating is cause-related marketing, which is based on the idea that a business offers money for our organization after the sales of their products. We also encourage businesses to offer help for us on the area of their expertise, offering services we would not otherwise be able to pay for,

such as counseling, IT, marketing help or offering special tools and food. We also welcome businesses to engage in charity sports, which means corporate teams can sign up with us and participate in sports activities and events to help raise money for the organization. This is a good team building exercise and it educates employees by drawing their attention to the power of charity work. The image of the company is strengthened, meanwhile, and teams get better and stronger.

PICASSO

Transfigurations, 1895–1972 22 April – 31 July 2016, Hungarian National Gallery

From 22 April 2016, Budapest is hosting an exhibition that spanned more than seven decades. The human form and the Staatsgalerie dedicated to one of the most influential artists of the played a prominent role in every period: the woman,, the Stuttgart. Visitors can also twentieth century: Picasso – Transfigurations, 1895– emotional and passionate being, the thinker, the artist, see three paintings from 1972 is organised by the Museum of Fine Arts Budapest the socio-political player, the member of the star-system. the Ludwig Museum of – Hungarian National Gallery in collaboration with the The changes in the way Picasso modelled his figures Budapest, and an exquisite reveal the very essence of his art, and his incessant selection of etchings from Musée national Picasso – Paris. innovation imbued everything he touched. This can be the Collection of Prints and Boasting over a hundred paintings, drawings, sculptures traced through the variety of media shown here: as well as Drawings of the Museum Pablo Picasso: Reading Woman 1932 © RMN-Grand Palais (Musée national Picasso-Paris)/ and other artworks, this exhibition embraces every paintings, which make up the lion’s share of the exhibition, of Fine Arts. René-Gabriel Ojéda period of Picasso’s career, paying particular attention to there are also prints and drawings, works of sculpture and The exhibition catalogue © 2016 – Succession Pablo Picasso – HUNGART one aspect of his œuvre: the constant transfigurations ceramic, photographs and film. The exhibition features – published in Hungarian in his portrayal of the human figure. Visitors are invited over a hundred works, the majority of which – 74 – have and in English – contains essays by eminent French and to take an informal journey through Picasso’s distinctive been kindly loaned to us by the Musée national Picasso– Hungarian scholars, who offer a variety of perspectives creative method, focusing on the series he produced, his Paris; these are supplemented by selected masterpieces on Picasso’s artistic method. The catalogue covers all recurring motifs and landmark moments of breakthrough. from other major, global museums, including the Israel the works displayed, and is the first publication to print The emphasis lies on the evolution in Picasso’s approach Museum of Jerusalem, the Beyeler Foundation of Basel, the documents in the Parisian museum archive that are to figural depiction as he progressed through a life of art the Kunstmuseum Bern, the Pushkin Museum of Moscow connected with Hungary.

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Budapest Business Journal | April 22 – May 5, 2016

WHAT’S

ON EARTH FESTIVAL April 20-24, Budapest Zoo As part of the Earth Day celebrations, Budapest Zoo is hosting its own festival, which runs until Sunday, April 24. Sustainable agriculture as well as the peculiar habits of birds will be presented in a playful context. Children will also learn about the zoo’s conservation efforts through the work at its bird sanctuary. ELTE’s Confucius Institute will be present at the event to introduce the colorful and mysterious flora and fauna of China. Visitors can also learn about the multiple species and natural wonders of Hungary. The festival’s programs will take place at 13 different locations within the zoo between 10 a.m. and 4 p.m. every day throughout the festival. zoobudapest.com ADVERTISEMENT

Fun things to d o in Budapest for the nex t t wo weeks.

PICASSO – TRANSFIGURATIONS From April 22, Hungarian National Gallery Picasso – Transfigurations, 1895-1972 in collaboration with the Musée national Picasso in Paris, features more than 100 paintings, drawings, sculptures and other artworks from every period of Picasso’s career, paying particular attention to one element of his oeuvre: the constant transfigurations of the human figure. The emphasis lies on the evolution of Picasso’s approach to figural depiction throughout his career, which spanned more than seven decades. The works on display represent Picasso’s mastery of a variety of media from paintings, to prints to drawings, sculptural works, ceramics, photography and film. The exhibition features 74 works on loan from the

The Manhattan Transfer. Musée national Picasso-Paris, while the remainder are from other renowned art institutions. The exhibition’s catalogue is published in Hungarian and in English. mng.hu NEGYED7NEGYED8 April 22-30, various venues This year’s Festival Negyed7Negyed8 takes place at a number of colorful venues across Budapest’s Districts VII and VIII on the occasion of Passover. The event, which is held twice a year, showcases contemporary Jewish music, cultural events and roundtable discussions. The festival was first launched in 2006 as the Quarter6quarter7 but has since moved south one district to include the more culturally vibrant neighborhood of District VIII. The primary site of the festival, District VII has a rich Jewish history that is frequently integrated into the festival program. negyed7negyed8.hu BUDAPEST PHOTO FESTIVAL April 22-24, Nagymező utca As part of final days of the Budapest Spring Festival, the second annual Budapest Photo Street Festival features the work of professional and amateur photographers as well as open-air film screenings, concerts and guided tours. Various exhibits will be set up along the

capital’s very central Nagymező utca, which intersects Districts VI and VII. btf.hu PICTURES AND PIXELS From April 23, Műcsarnok This photo exhibit is expected to be one of the most important of its kind being held at the Műcsarnok. Photography as an art form has changed markedly in the past few decades but its history stretches back nearly two centuries. The works of Hungarian photographers will be presented in various formats to reflect this history: on screens, in open spaces, on new and classical materials using a variety of techniques. The very juxtaposition of all these components is what will make this exhibit so exciting. mucsarnok.hu KIMMO POHJONEN & MINNA TERVAMÄKI April 23, Millenáris Teátrum Experimental Finnish accordionist and performance artist Kimmo Pohjonen first began collaborating with Finnish dancerchoreographer Minna Tervamäki on the stage of their country’s National Opera in 2011. That project has since evolved conceptually to become Bright Shadow: a merging of two powerful, artistic and often opposing forces. The duo premiered their first full show at the Oulu Music

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Budapest Business Journal | April 22 – May 5, 2016

Charlie Winston. Festival in 2013. Pohjonen released his debut album in 1999 and has performed all over the world with such musical greats as the Kronos Quartet and King Crimson. btf.hu CHARLIE WINSTON April 25, A38 British singer-songwriter Charlie Winston first reached mainstream audiences in France in 2009 with the chart-topping hit “Like a Hobo”. He released his full-length, self-produced debut “Make Way” in 2007, but it wasn’t until his second album “Hobo”, released in 2009, that he was met with major commercial success. He made the biggest waves in France, followed by Belgium and Switzerland but remained virtually unknown in his home country. His music is characterized by powerful acoustic guitar and his weather-beaten voice. Interestingly, his brother Tom Baxter has fared better musically in the United Kingdom, but that’s not at all to say that one is better than the other. a38.hu MEDIAWAVE April 27-May 1, Komárom The 26th annual Mediawave festival will celebrate the works of filmmakers as well as musicians and visual artists at the historic Monostor Fort in Komárom in northern Hungary, near the Slovakian

Kimmo Pohjonen is to perform with Minna Tervamäki. border. Throughout the festival international and Hungarian films will be screened in competition and as part of thematic programs. mediawavefestival.hu BUDAPEST PÁLINKA FESTIVAL April 28-30, Városháza Park Budapest’s annual Pálinka Festival offers a huge selection of the nation’s special fruit brandy spirit known as pálinka. The large outdoor venue is free to enter. This year competing participants will be vying for the top prize given to the producer of the best quince pálinka. Visitors can try some of the finest examples from the region in addition to culinary treats, to the accompaniment of live music and DJs. budapestipalinkafesztival.hu KEN-ICHIRO KOBAYASHI April 29, Palace of Arts Ken-Ichiro Kobayashi was a central figure of Hungarian music in the 1980s and ’90s as principal conductor of the Hungarian State Symphony Orchestra (now the Hungarian National Philharmonic). Hungarian classical music fans still vividly remember his enthusiastic, emotionally rich interpretations and the unaffected spirit and sense of immediacy embodied in his musicianship. His performances of Beethoven’s symphonies stood out as they were always performed with unrivalled

fire, intensity and lyricism, and portrayed the classical Viennese composer’s every facet with astonishing authenticity. Kobayashi remains an active participant on the Japanese music scene today. His upcomng performance with the Hungarian Radio Symphony Orchestra is made all the more special as it is 80 years since the ensemble’s legal forebear began operation, in 1936, at the initiative and under the leadership of Ernő Dohnányi. On this evening they will perform works by Beethoven, including the “Egmont Overture”, op.84 and “Symphony No. 9 in D minor”, op. 125. mupa.hu BUDAPEST FESTIVAL ORCHESTRA May 4, Palace of Arts The year 1791, the last of Mozart’s short life, was also a hugely productive one for him. His “Piano Concerto in B-flat major” (K. 595), the composer’s final composition in the genre, was registered in his thematic catalogue on January 5. Then, over the remaining 11 months, Mozart composed, among other works, his last two operas, ‘“La Clemenza di Tito” and “The Magic Flute” as well as the “Clarinet Concerto” and the “Requiem Mass”, although death overtook him while he was working on the latter. “Per questa bella mano”, a bass aria with an obbligato double bass accompaniment, was most likely originally written as an interlude, which Mozart then used to improve

a contemporary opera buffa being performed in Vienna at the time. It will be performed this evening under renowned Hungarian conductor Iván Fischer along with Mozart’s last completed instrumental work, “Clarinet Concerto in A major”. The evening will close with one of the best known incomplete works in the history of music, “Requiem”. mupa.hu THE MANHATTAN TRANSFER May 7, Palace of Arts The first edition of legendary vocal group The Manhattan Transfer was formed back in 1969 by the late Tim Hauser, who carefully sought out the right partners to fulfil his dream while holding down a job as a taxi driver. Hauser was joined by Laurel Massé, Janis Siegel and Alan Paul, and they were the talk of New York throughout the 1970s. Beyond jazz, they made regular excursions into the worlds of pop and RʼnʼB, while always maintaining a sense of proportion. Their 1985 album “Vocalese” contained a total of 12 Grammy nominations, second only to Michael Jackson’s “Thriller”. The band’s successful run remained unbroken until the death of Hauser in 2014, but regained some of its strength when Trist Curless joined. This closing concert of Jazz Spring also rounds out a series of concerts of the world’s leading vocal ensembles at the Palace of Arts. mupa.hu

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Budapest Business Journal | April 22 – May 5, 2016

Wine: 2015 vintages making a splash As the first reds from 2015 come out, it appears we are in for a dream ticket in all three colors. ROB SMYTH

The 2015 vintage appears to be very much the dream ticket when it comes to whites and rosés, and the early signs are that it will be a pretty good – if not excellent – vintage for reds, too. The 2015 vintage was one in which everything went pretty much ideally with most of the grapes harvested in peak ripeness and condition, with lots of refreshing acidity intact. However, at the very last minute, with some of the late ripening grapes such as Cabernet Franc and Cabernet Sauvignon still to be harvested, the heaven’s opened and rained down and diluted much, if not all, of the good work. At the annual Badacsony tasting held at the New York Kávéház on April 6, there were a number of promising dry white wines premiered from the Rózsakő grape, which is touted by some as Badacsony’s next big thing. This grape is a crossing of the region’s flagship Kéknyelű and the lowly Budai zöld. The primary purpose of Budai zöld is to pollinate its more noble partner of Kéknyelű, which itself only produces female flowers. The idea is that Attila Gere’s 2012 Kopar; still a very polished red. Rózsakő can take over that pollinating role and make cracking wine to boot. complex and has that vegetal note shape. While some believe that this However, perhaps Badacsony’s vintners typical of Olaszrizling and a bit of a grape should be grubbed up in favor of shouldn’t be tearing out all the Budai floral feel with apple and pear in the more muscular varieties, it nevertheless zöld yet, especially if Válibor’s 2015 is mix. The 2014 is currently drinking provides an important source of cash flow anything to go by. Peter Váli really knows splendidly, having developed a round for Villány’s vintners and lots of fresh red how to coax the best from this grape and and creamy texture, which represents a fruit and floral notes that can make it a he shows flexibility in his winemaking great result given the supposed disaster pleasure to imbibe. Péter Bakonyi’s 2015 is pure and zesty with crisp acidity and approach to do so. He carries out that vintage was. reductive and controlled fermentation From Tokaj, Gizella’s barrel sample red fruits. Attila Gere’s Portugieser 2015 in the tank to preserve Budai zöld’s of 2015 Furmint-Hárslevelű adds more is spicy and floral with lots of primary freshness, fragrant aromas and citric zip, credence to the argument that these red fruit, especially raspberry. Earlier rather than his usual wild fermentation grapes should be used together blended this month, Pécs hosted the Portugieser for other grapes. The result is a light, in dry white, as well as in sweet wine. du Monde competition and a Hungarian precise and yet airy, even ethereal, floral, As it does in Tokaj Aszú, the opulence Portugieser by Tamás Lelovits from 2015 very distinctive wine that proved just the of Hárslevelű on the nose and palate claimed top spot in the young Portugieser ticket to usher in spring with. It reveals can deliciously flesh out the steeliness category, while Göhring Portugieser more at a young age than most Kéknyelű and tautness of Furmint to dramatic Réserve Trocken 2012 from Rheinessen, do. Both Váli and Ambrus Bakó showed combined effect – although more subtly Germany, won in the vintage category. Kéknyelű from 2015 that have everything than with sweet wine. It is rare to taste in the right place with no rough edges, dry Tokaj involving the Furmint grape 2012 Kopar comes out as its although for me it takes years for it to that is so complete at such a young pick up layers of complexity. It’s a bit age, but this wine has good body and predecessors come of age like Hunter Valley Semillon from New intensity, and yet also great balance and While many new players have come on South Wales in Australia in that regard. freshness. It follows up on the success of the market since Gere Kopár ruled the At my own masterclass on Badacsony at the stunning 2013. red wine roost from the late ’90s to the the same event, I even concluded that Some lighter reds are already coming early-to-mid-2000s, Kopar continues Szeremley’s now über complex Kéknyelű out from 2015. Heimann’s Kadarka to be one of Hungary’s most polished 2006 still needed a bit of time for the 2015, selected from the Iván-völgy and complex reds. Furthermore, it is acidity to integrate better for it to reach and Céhkereszt areas of Szekszárd, is made in a decent quantity – some 60,000 everything that Kadarka should be with bottles each vintage. The 2012 edition its full potential! Bortársaság’s buzzing Bortavasz its light ruby-purple cum raspberry color, of this blockbusting wine has just been (Wine spring) event earlier this month fragrant aromas of rose hip, raspberry released and it does indeed need those provided a chance to taste a number of and peppery spice, with lightness of four years to get into shape and for the barrel samples ahead of their impending touch on the palate and the grape’s robust tannins to soften – it is now ready release. The 2015 vintage is the fourth tingling acidity. Another excellent and to be unleashed and is more than going in which Gyula Szabó, of the Káli Kövek varietally pure Kadarka from 2015 with to live up to expectations. cellar in Köveskál, has opted to make his similar traits comes from Pranter, also Note that as it has never come solely from Villány’s Kopár vineyard, the Rezeda wine purely from Olaszrizling. from Szekszárd. It comes from four vineyards on three Down in Villány, it’s Portugieser that decision was taken a few years back to hills and was fermented spontaneously is the first red to come to market and drop the acute accent on the “a” and by wild yeast. It’s already looking quite the 2015s are in very nice and vibrant use the brand name of Kopar. It also

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comes from other top vineyards of the Csillagvölgy and the Ördögárok. The 2012 is the 12th vintage of Kopar, and the wine is only released in what are considered good enough vintages. Although it debuted in 1997, 2006 was a landmark year, not just in terms of the quality of the wine but also because it was the first vintage in which Cabernet Franc took the starring role in this Bordeaux-style blend; the other components being Merlot and Cabernet Sauvignon. The 2006 (or at least the magnum from which I tasted down in Villány) presently is in that delicious state between youth and age whereby it still has lots of juicy black fruit but also lots of more aged notes of winter spices, tobacco and earth. Its tannins have become pleasantly fine grained. I recall tasting the 2004 years ago from the magnum and not being particularly impressed as it felt somewhat rustic, but fast forward a dozen years and this has turned out to be a most sophisticated and balanced blend. Cabernet Franc does perform particularly well in Villány and tasted straight from the barrel, the Cabernet Franc from 2015 – which will be provide the backbone of Kopar 2015 – oozed class, purity and poise, and even cried out to be bottled by itself. (Gere’s single varietal Villányi Franc comes out under the Weninger & Gere label.) The Merlot sample from 2015 was impressively intense while the Cabernet Sauvignon was much more on the restrained side. Perhaps the slightly earlier ripening Cabernet Franc made it into the cellar just before the worst of the bad weather hit.

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Budapest Business Journal | April 22 – May 5, 2016

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RESTAURANT REVIEW

Old brand offers refreshed Asian menu Izakaya, the partner of Budapest’s oldest and best sushi restaurant, is branching out from its traditional Japanese cuisine. Still a top pick for sushi and sashimi, this is also the place to explore Chinese hamburger or a mojito made with sake. BBJ STAFF

The Izakaya may have only been around since 2014 but the restaurant has an excellent pedigree: Its owners and head chef are the people behind Fuji, Budapest’s oldest, and still best, sushi restaurant. The fine lineage becomes clear when you taste their sushi or sashimi. The kitchen at Izakaya knows what it’s doing. While their food may be of similar superb quality, there are differences in the two restaurants: For one thing, Fuji, with its scenic garden, is buried deep in the hills of Buda, while Izakaya is centrally located, right on Szent István körút in Pest. Perhaps even more important is the price difference: Izakaya is more affordable, and offers lunch specials designed to please the downtown business crowd. The menu at both restaurants was also always different, and these days even more so. Izakaya’s kitchen now ranges well beyond Japanese, to include a range of Asian cooking, as well as some dishes that fuse various Asian styles and even throw in the modern French technique of sous-vide. Despite the menu expansion, they do not forget their Japanese roots: the several styles of sushi and sashimi are made from the freshest seafood and sliced masterfully, while guests watch, at an open sushi bar. They also serve authentic and delicious miso soup, udon noodle dishes and ramen noodles. And the tempura is outstanding, including a melt-inthe-mouth calamari with a light crispy coating and a transcendent sauce. Other traditional items Isakaya has offered for a while include cooked seafood dishes, such as the soft butterfish, which is flavorful enough to outshine the excellent sweet sauce served with it. Newer items on the menu include the restaurant’s own version of yaki tori (tori-style chicken), which is served on a skewer with teriyaki sauce and sesame coating. The real surprise here is the chicken, cooked in the sous-vide style – precision slow cooking at low temperatures in a vacuum pack. This method, popularized in France, means cooking can last a day or more, but it produces remarkably juicy meat that

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The fresh seafood, cooked or cut up at the sushi bar, remains a big attraction, but the Izakaya, shown in these images, ranges beyond Japan. a wide range of drinks, from Japanese craft beers and high-end Japanese whiskeys to a great selection of sake – served hot or cold. There is also a good list of fun cocktails, such as the “Hello Kitty” and the recommendable “Sakito”, a tasty fresh-mint mojito made with sake instead of rum. It’s all served by a professional wait staff, many of whom have proved themselves at the upscale Fuji, in a pleasant setting, done in modern, Japanese-style décor. Inside the has soaked in its own essence. The smooth kimchi. A traditional Korean unremarkable facade is a surprisingly technique turns this simple dish into dish made of fermented vegetables, chic-looking, blonde-wood-and-tan kimchi is made in house here, with a interior, and the surprises continue as something sublime. Sous-vide cooking is also used to technique that produces a milder flavor you go to the back room with the large, make the tender pork in the butakakuni than usual, so it performs wonderfully nicely lit sushi bar. Upstairs are more exclusive rooms for parties of roughly burger, a Chinese style sandwich that as a meat sauce. gets an unusual treatment at Isakaya. It’s not just the food menu that is 5-25. Not only is the cooking of the meat wide-ranging at Izakaya. The name It may not be Fuji in the Buda hills, unusual, the soft burger bun is made in translates from Japanese as “bar” or but Izakaya sits atop a peak of its own. the restaurant, and so is the surprisingly “tavern”, and the big bar up front offers (www.izakaya.hu)

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