Váradi, Balázs

Eurofound’s research on ‘Restructuring in recession and labour force participation’ explored the age management practices of companies in light of restructuring undergone during the recession. The study looked at policy in relation to the retention of older workers (aged 50 or more) in employment at national and establishment levels in nine European Union (EU) Member States. This is the report for Hungary.

MOL faces a number of challenges related to an ageing workforce. As a formerly state-owned company, there is a tradition of lifelong careers that makes MOL attractive for employees. HR policies currently continue to support lifelong employment. The company’s approach is to seek to employ workers as long as their physical and mental condition remain sufficient to fulfil their assignments.

MT age management policies are viewed internally to be in line with trends among similar large companies in Hungary. Large companies, including MT, are generally characterised by a relatively secure position in the market. They are subsequently able to maintain a consistent HR policy towards employees. Voluntary departures account for approximately 6% of the workforce turnover and often consist of older workers (50 or more) using the early retirement option.