Analysis of the Impact of the COVID-19 Crisis on the Hungarian Employees

Peter Karacsony, Kornél Krupánszki and Imrich Antalík
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Peter Karacsony: Department of Economics, J. Selye University, 945 01 Komárno, Slovakia
Kornél Krupánszki: Department of Economics, J. Selye University, 945 01 Komárno, Slovakia
Imrich Antalík: Department of Economics, J. Selye University, 945 01 Komárno, Slovakia

Sustainability, 2022, vol. 14, issue 4, 1-14

Abstract: The economic crisis in the wake of the coronavirus epidemic is affecting the lives, jobs and incomes of a lot of people. Certain sectors of the economy have come to a standstill or stalled for a time, causing many to lose their jobs and be forced to pursue other career options than originally planned. The COVID-19 pandemic caused a deep economic crisis that caused workers to feel insecure, which also had a negative impact on the lives and characteristics of individuals at work. In the course of our research, we conducted a survey of employees in small and medium-sized enterprises in Hungary in order to find out how the coronavirus crisis affected them. In Hungary, the sectors most affected by the epidemic (e.g., hospitality, tourism, automotive) had an intense impact, as the consequences of restrictions on mobility and social distance emerged in the very early stages of the crisis. The survey was conducted in July 2021 after the end of the second wave of the epidemic, with a total of 613 participants. Our results confirmed that the coronavirus crisis had a significant impact on the respondents’ feelings of job insecurity and financial situation. There is a significant connection between the downsizing of Hungarian small and medium-sized enterprises and the feeling of job insecurity among employees. There was also a significant link between the organizational measures taken against the crisis and the financial situation of the employees. Thus, based on the results obtained, it can be concluded that the coronavirus crisis has had a negative impact on the lives of individuals through the workplaces.

Keywords: human resources; COVID-19; job insecurity; crisis; small and medium-sized enterprises; Hungary (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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