The 10 fastest growing recruitment providers in Hungary: here is the list of HR Portal - OPTEN

After 20 of the most influential HR leaders, here's another top list. As we did last autumn, we've partnered with business intelligence provider OPTEN to produce the "Top 10 fastest growing recruitment providers". We looked for the recruitment and staffing firms that grew the most in revenue and after-tax profit in 2023 compared to 2022.

The criteria we used: the company had to have at least two closed financial years to be considered. We set the minimum revenue at HUF 150 million and, by main activity, we considered these scope of acrivities: one of 7810 Labour recruitment, 7820 Temporary employment or 7830 Other human resources supply and management. A further condition was that the ratio of revenue to profit after tax should reach 10 per cent. Half and half weight was given to the percentage increase in revenue and profit after tax, i.e. the percentage increase in these two items gave the final indicator.

Here are the results:

1. MÁB Holding Kft.

A temporary employment agency based in Jászság grew the most in 2023. The company was founded in 1997 but has started to grow rapidly in the last two years. When the new managing director, Áron Benjámin Mező took over the temporary employment agency, The revenue of HUF 6 million in 2021 had grown to HUF 503 million by 2022, and a year later it had reached HUF 2.8 billion. Profits grew by almost 600 percent in proportion. The company primarily lends blue-collar workers to the industrial sector, not only in Jászság but also in other parts of the country. Their local roots are shown by their support for the Jászfényszaru football team, which plays in the county's first division. They are also represented in Győr, Debrecen, Székesfehérvár and Mosonmagyaróvár. Last year was a steady year with around 500 workers employed thruogh the agency.

Growth indicator: 1053.9 percent

Year established: 1997

Managing Director: Áron Benjámin Mező

Head office: Jászberény

Number of employees: 417

Revenue in 2022: HUF 503 million

Revenue in 2023: HUF 2 827 million

Revenue growth: 461,6 percent

Profit after tax in 2022: HUF 71 million

Profit after tax in 2023: HUF 497 million

Growth in after-tax profit: 592.3 percent

2. Multi Job Ltd.

MULTI JOB Ltd. is a company that offers both student and retired staff placement services and adult employment services. The owner-manager is Róbert Szücs, who founded the company 13 years ago, based in Budapes. The company's revenue more than tripled in 2023, from nearly HUF 219 million to HUF 706 million. Its net profit after tax increased by 349% and it employs 55 people. The company's website regularly features blog posts from the CEO on the labour market, especially the topic of generations and artificial intelligence.

Growth rate: 572.4 percent

Year established: 2011.

Managing Director:Róbert Szücs

Number of employees: 55

Revenue in 2022: HUF 218,8 million

Revenue in 2023: HUF 706 million

Revenue growth: 222,59 percent

Profit after tax in 2022: HUF 45.3 million

Profit after tax in 2023: HUF 203,8 million

Growth in after-tax profit: 349 percent

3. Effective Group Talent Solutions Ltd.

Effective Group Talent Solution Ltd. is part of Effective Group Informatikai Zrt. and operates from the same site, but while the former was founded in 2011, the human resources, management subsidiary was established in 2022. The companies are jointly owned by Bandor Holding Kft. and the managing owners of Talent Solutions are Dr. Gábor Fóti and Márk Mészáros. The company, which is mainly active in the recruitment of IT specialists, does not yet have a strong track record, but its year-on-year growth has been significant, especially for such a young company. Its revenue has more than doubled from nearly HUF 204 million in the first year to HUF 547 862 million, and its profit after tax has increased by 159.3%. With an overall growth of more than 300%, it has reached the number 3 spot on our list.

Growth rate: 328.1 percent

Year of establishment: 2022.

Managing Director: dr. Gábor Fóti and Márk Mózes Mészáros

Number of staff: 14

Revenue in 2022: HUF 203,7 million

Revenue in 2023: HUF 547,8 million

Revenue growth: 168.8 percent

Profit after tax in 2022: HUF 36,4 million

Profit after tax in 2023: HUF 94,5 million

Growth in after-tax profit: 159.3 percent

4. HR Fix Ltd.

The Debrecen-based company, which deals with both temporary employment and recruitment, has been on the market for more than 16 years. In the year 2023, the company has achieved an overall growth of 243%, more than doubling its size. Its revenue grew from HUF 443 million to HUF 954 million, and its profit after tax increased from HUF 84 million to nearly HUF 192 million. On the company's website, they emphasise that they focus on personal presence and continuous contact in their work, and their aim is to provide employees with a job they enjoy.

Growth rate: 243 percent

Year established: 2008.

Managing Director:Zoltán Barkóczi

Number of employees: 112

Revenue in 2022: HUF 443,4 million

Revenue in 2023: HUF 954,6 million

Revenue growth: 115,2 percent

Profit after tax in 2022: HUF 84.1 million

Profit after tax in 2023: HUF 191,7 million

Growth in after-tax profit: 127,8 per cent

5. HR Park Ltd.

Founded in 2017, the Budapest-based company is owned and managed by Sándor Bágyi, who, according to the company's website, has more than 25 years of international management experience in several industries. The company provides complex labour market services, including training, coaching, training, coaching and HR consulting in addition to hiring and placement. The company's revenue increased from HUF 198.8 million to HUF 469.9 million, and its profit after tax increased by 101%.

Growth rate: 237.6 percent

Year of establishment: 2017.

Managing Director: Sándor Bágyi

Number of employees: 63

Revenue in 2022: HUF 198.8 million

Revenue in 2023: HUF 469,9 million

Revenue growth: 136,3 percent

Profit after tax in 2022: HUF 59,7 million

Profit after tax in 2023: HUF 120,1 million

Growth in after-tax profit: 101.2 percent

6. NEXT-Consulting Ltd.

NEXT-Consulting Ltd. has been operating for 27 years. In addition to recruitment, they also offer executive search, consultancy and competency assessment. The founder and owner-manager of the company is Bernadett Iker, who, according to the company's website, has several years of HR experience in international insurance companies, a background in consulting and, as she says, has always wanted to deal with people in both her professional and personal life. The aim of the company is to understand and develop people's skills by finding their motivation and common purpose, and at the same time to raise awareness of organisational values. The company's revenue grew from 153 million HUF to nearly 244 million HUF in 2023. And the profit after tax shows an increase of 166%. The overall result is thus 225.4 percent.

Growth indicator: 225.4 percent

Year of establishment: 1997.

Managing Director: Iker Bernadett

Number of staff: 5

Revenue in 2022: HUF 153 million

Revenue in 2023: HUF 243,8 million

Revenue growth: 59,5 percent

Profit after tax in 2022: HUF 16 million

Profit after tax in 2023: HUF 42,8 million

Growth in after-tax profit: 166 percent

7. Bányai & Partners Consulting Ltd.

Bányai and Partners Consulting was in 5th place on our list last year and now in 7th place. The company is lead by Tibor Bányai, a well-known HR professional. He has previously held HR Director positions at GE and two tyre manufacturers, Apollo Tyres and Hankook Tire. Between 2018-20, the company was still operating in the revenue range of HUF 25-30 million per year. In 2021, they made a big leap with a revenue of HUF 170 million, in 2022 they made an even bigger leap with a revenue of almost half a billion forints, and last year they were approaching HUF 1 billion as in placement. And profit after tax doubled. The growth was driven by the recruitment of Indian workers, mainly for driver positions. Their service is also strong in aftercare: they support the integration of employees into the company and into their wider social environment. The company's Facebook page regularly features interesting facts about Indian culture and customs. 

Growth rate: 156.6 percent

Year founded: 2011

CEO: Tibor Bányai

Number of employees: 22

Revenue in 2022: HUF 476 million

Revenue in 2023: HUF 800 million

Revenue growth: 67.97 percent

Profit after tax in 2022: HUF 55 million

Profit after tax in 2023: HUF 104 million

Growth in after-tax profit: 88.71 percent

8. HR Direkt Kft.

Ranked third on our list last year, this year it is eighth, indicating that 2023 was another year of uninterrupted growth for Budapest-based HR Direkt. The company was founded in 2013. Initially, it focused exclusively on recruitment and placement services. Today, it mainly lends Hungarian and third-country workers to the electronics, automotive and injection moulding industries. HR Direkt's growth trajectory is indicated by the fact that its worth was only 873 million HUF in 2020, 2.1 billion HUF in 2021, 6.9 billion HUF in 2022 and 15.2 billion HUF in 2023. And their profit after tax will exceed HUF 1 billion. The peak in terms of headcount was last October 2023, when they had 3,466 employees. It meant a lot to them that the company was included in the list of qualified temporary employment agencies, which accelerated recruitment from third countries.

Growth rate: 154.9 percent

Year founded: 2013

Managing Director: Helga Kurucz-Réti

Number of employees: 2065

Revenue in 2022: HUF 6 930 million

Revenue in 2023: HUF 15 288 million

Revenue growth: 120,6 percent

Profit after tax in 2022: HUF 771.2 million

Profit after tax in 2023: HUF 1 036 million

Growth in after-tax profit: 34,3 per cent

9. LIVITA-DORTA Ltd.

Esztergom-based temporary employment agency, primarily serving the needs of companies in the region. The company was established in 2008. Between 2022-23 they increased their revenue by 42.5 percent and their profit by 74.6 percent. Last year they had between 480 and 650 employees, and closed the year in December with 641. They are experiencing a slowdown in the industrial sector, with 394 people currently in their workforce. Among other things, they offer free accommodation and discounted car purchases to their borrowers.

Growth rate: 117.1 percent

Year established: 2008

Managing directors: Hedvig Pappné Lőrincz and Petra Varga

Number of employees: 436

Revenue in 2022: HUF 4043 million

Revenue in 2023: HUF 5765 million

Revenue growth: 42,5 percent

Profit after tax in 2022: HUF 410 million

Profit after tax in 2023: HUF 716 million

Growth in after-tax profit: 74.6 percent

10. Book4Hostess Ltd.

Dóra Szerencsés, a successful female entrepreneur, is behind this market-leading hostess agency. They have a database of 7000 people and have worked for more than 500 clients. Although their revenue stagnated between 2022-23, it is worth noting that they reached a new level between 2021-22, increasing their revenue from €80 million to €156 million. They promote brands such as Heineken, Dior, Perwoll and Ford. Their hosts were present at this year's Sziget Festival and Balaton Sound.

Growth rate: 66.2 percent

Year founded: 2016

CEO: Dóra Szerencsés

Number of employees: 3

Revenue in 2022: HUF 156.3 million

Revenue in 2023: HUF 156,8 million

Revenue growth: 0.2 percent

Profit after tax in 2022: HUF 19,9 million

Profit after tax in 2023: HUF 33,1 million

Growth in after-tax profit: 66,0 per cent