Slovakia
Analysts and data speak clearly: the labor market will enter a new phase in 2026. Fortunately, it will not be dramatic, but gradual. In any case, after years of rapid growth and the fight for every candidate, there will come a phase when there will be fewer recruitments. And HR departments will have to focus on how to keep existing employees motivated.
In Slovakia, we currently have the highest employment rate in history – more than 2,6 million people are active on the labor market. However, according to economic forecasts, this number probably represents a ceiling and will not increase. On the contrary, a slight slowdown in employment growth is expected in 2026, which is related both to demographic developments and to the caution of companies in new recruitments.
The number of people retiring is expected to grow faster than the number entering the labor market, putting pressure on companies to retain their employees (even in their senior years) for longer.
"At the same time, the economy is expected to grow more slowly than in previous years. According to analysts, average wages should increase by about six percent, but in real terms, this will be a smaller increase than we are used to. It will be increasingly difficult for employees to achieve a salary increase," stated Lívia Bachratá, Director of Public Affairs at Edenred.
Silent change in HR
While companies are still competing with each other for quality people, in just a few months, the focus of HR will shift from recruitment to efforts to create and maintain a stable and motivated team with minimal turnover.
We are already seeing recruitment slowing down, selection processes taking longer, and companies taking a more cautious approach. But there is no mention of the crisis, and HR experts describe this as a quiet shift that is changing the priorities of both parties – employees and employers.
"When growth slows, it's key to retain those who are already on the team. You can't do that without making them feel seen and valued," continues L. Bachratá.
The new role of benefits
At Edenred, we realize that to manage the "silent change", companies will need benefits that are not just a "bonus", but a real stabilization tool. That's why we created Cafeteria Edenred Premium Benefits - a system that gives employees freedom of choice and employers overview and flexibility.
Within this benefit system, each employee can choose what suits them and what they need – a contribution for relaxation, education, health, sports or family. With this benefit, the company gains a tool that connects the individual needs of each employee with the corporate culture.
"Maintaining a balance between work and personal life contributes to employee satisfaction and performance. Our data has confirmed for several years that a properly set motivation system that combines financial and non-financial benefits can significantly reduce turnover. And this will be even more important in 2026 than before," adds L. Bachratá.
Less pressure, more understanding
From an HR perspective, it will be important to accept that fewer new jobs will be created in 2026 and that the importance of workplace relationships will increase significantly. Employees will seek security, fairness, and understanding. Companies that can offer this will retain their people even in times of change in the labor market.
At Edenred, we believe that HR success is no longer about the number of new contracts, but about the number of genuinely satisfied people on the team. That's why we help companies build stability through motivation, flexibility, and choice. "Whoever invests in their people invests in the future of the company," concludes L. Bachratá.
