The shortage of skilled workers threatens productivity

Since 2012, the Hays Global Skills Index has determined a score between 0 and 10 for each country to measure the tensions it faces in its skills market. The score is calculated by analyzing seven criteria relating to different aspects of labor market dynamics, covering areas such as educational attainment, labor market flexibility and wage pressures for skilled workers. A score above 5.0 indicates a tight labor market. An index of 4.3 was calculated for Switzerland in 2016.

In Europe, the skills gap between the requirements profiles of companies and the performance profiles of skilled workers has widened by 14 percent in the last five years. In order to find and retain suitable employees, employers are forced to increase salaries. Company growth and productivity are increasingly threatened by this. These are the conclusions of the Hays Global Skills Index 2016, which was compiled and published for the fifth time by the international staffing services provider Hays PLC in collaboration with Oxford Economics. The report, entitled "The Global Skills Landscape - a complex puzzle," is based on an analysis of the labor markets in 33 economic nations.

Swiss labor market with uncertain future

According to the latest report, the situation on the Swiss labor market has eased slightly compared with last year. The authors expect weak GDP growth and rising unemployment figures by the end of 2016. The pressure exerted on the labor market by the low employment rate and growing long-term unemployment in particular will be offset by a slight easing of the shortage of skilled workers and falling general wage pressure. "Although the unemployment rate was forecast to rise in the second half of 2016, we expect a gradual improvement in the Swiss labor market in 2017 due to the economic recovery," says Marc Lutz, managing director of Hays Switzerland. "However, the labor markets of the individual industries will develop differently - in line with the risk factors to which they are currently exposed. These are primarily the implementation of the mass immigration initiative in Switzerland, which is still being worked out, and the uncertainty in Europe, which will lead to further upward pressure on the Swiss franc."

Automation creates qualified jobs

The report also shows that automation and robotics offer the potential to compensate for the shortage of qualified specialists and influence the labor market. For example, these technologies are increasingly taking over non-routine tasks such as writing legal documents or making diagnoses. As a result, robots are replacing skills that are lacking worldwide.

The entire "Hays Global Skills Index 2016" and the data for Switzerland are available online at: http://www.hays-index.com

Source: www.hays.ch