Final sprint to the end of the year: Swiss companies are adjusting their recruitment strategies to address the talent shortage.
Zurich and Morges, 12 September 2023 – Swiss companies expect solid hiring intentions between October and December 2023. With a forecast of +38%, the country is 13 percentage points above the Europe, Middle East and Africa (EMEA) regional average and 8 percentage points above the global average. These results places Switzerland first in the EMEA region and second globally in terms of hiring expectations.
«The data shows that employers expect a significant intensification of hiring activity in the autumn. Despite the global economic headwinds, recruitment remains in focus, driven by the extreme talent shortage coupled with low unemployment rate. Companies are focused on finding and engaging talent. To this end, recruitment strategies are being adapted and a larger pool of candidates is being considered», says Jan Jacob, Country Manager ManpowerGroup Switzerland.
Optimistic outlook on the southern and western borders
At 57%, Ticino reports the highest Net Employment Outlook for the coming quarter. In second place is the Lake Geneva Region with a forecast of +46%, an increase of 35 percentage points compared to Q3. The survey results are also positive for the other Swiss regions, with scores ranging from +30% to +38%. The only region that reported a slight decrease (-1 percentage point) in hiring expectations compared to Q3 is Northwestern Switzerland.
Hiring boom in the communications industry and among micro-enterprises
Companies in the «Communication Services» report the strongest Employment Outlook, with a value of 66% (44 percentage points more than in the previous quarter). Switzerland ranks second in the world for this segment's Employment Outlook, exceeding the global average by 35 percentage points. Businesses in the sectors «Transport, Logistics and Automotive» (62%) and «Energy and Utilities» (53%) also expect a positive development. In contrast, the segments «Finance and Real Estate» as well as «Healthcare and Life Science» have experienced a decrease of 5 percentage points since the previous quarter.
In terms of the size of the companies surveyed, micro companies are anticipate the most optimistic hiring outlook for the next three months (57%), followed by small (41%), large (34%) and medium-sized companies (31%).
Recruitment strategies in times of talent shortage
As the talent pool shrinks, companies are rethinking their recruitment and HR management strategies. To fill vacancies, about half of respondents say they are equally consider temporary and permanent workers.
To overcome the talent shortage, 29% of companies are willing to hire older candidates who want to change careers or do not have all the technical skills they are looking for. When it comes to Boomers (59-77 years old), the strategic focus of companies remains on retention (24%). For Gen Z (18-26 years), Millennials (27-42 years) and Gen X (43-58 years) candidates, 25% of respondents say they focus on upskilling and re-skilling strategies.
In addition, 40% of the surveyed companies consider communication and teamwork skills to be critical in the recruitment process. According to the ManpowerGroup Survey, these soft skills are ranked as particularly important across all sectors and regions in Switzerland, as well as globally.
In an environment of competition for talent, employers identify work-life balance and a positive work culture, including recognition of performance, as the most important factors for increasing productivity.
Contact
Angela Barbera
Communication Specialist
Phone +41 58 307 22 71 / +41 79 519 72 74
E-mail: media@manpower.ch
Patrick Preuss, Nabila Bouzouina
open up AG
Phone +41 44 295 90 76 / +41 78 900 10 79
E-mail: patrick.preuss@open-up.ch, nabila.bouzouina@open-up.ch
ABOUT THE SURVEY
The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
SURVEY METHODOLOGY
The methodology used to collect the data for the Employment Outlook has been digitized in 41 markets for the Q4 2023 report. Survey responses were collected in July 2023. The question asked and the respondent profile remains unchanged. Size of organization and sector are standardized across all countries and territories to allow international comparisons.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2023 ManpowerGroup was named one of the World's Most Ethical Companies for the 14th time – all confirming our position as the brand of choice for in-demand talent.
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FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, including statements regarding labor demand in certain regions and countries and economic uncertainty. Actual events or results may differ materially from those contained in the forward-looking statements due to risks, uncertainties and assumptions. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2022, which information is incorporated herein by reference. ManpowerGroup disclaims any obligation to update any forward-looking or other statements in this release, except as required by law.