At the beginning of August, the ifo Institute published new figures on the shortage of skilled workers in Germany. The bitter realization is that every second company does not have enough skilled workers available. In the long term, this could weaken the German economy and even have more far-reaching consequences than climate change or the loss of fossil fuels. The old legend of the "Great Resignation" is resurfacing. But how can skilled workers be retained or attracted? What does real talent attraction look like? Can hybrid working help with this?
Key facts
- The shortage of skilled workers and the war for talent will pose a huge challenge for many companies.
- In order to attract and retain managers in the future, companies must actively provide incentives.
- These include an attractive salary structure, numerous benefits, as well as flexible working hours and work models.
- In the war for talent, alternative work models are an important factor and hiring characteristic for managers. In Germany too, 20% of managers are prepared to quit their jobs due to a lack of benefits.
- 63% of managers are calling for a mix of working from home and in the office. Employee participation is particularly important in order to introduce a suitable model. Change can be achieved through surveys and close coordination within the team.
Skilled labor shortage in Germany: latest figures show the extent
The latest figures from the Institute for Economic Research (ifo) show a new record for the skilled labor shortage. In July, 49.7% of German companies were affected by a lack of qualified employees. Even if this development mainly affects service providers and the healthcare sector, other sectors will also suffer from a lack of staff in the future. The battle for the remaining skilled workers on the market is becoming increasingly bitter - hence the term war for talent. In order to attract and retain skilled workers, companies in this country have to come up with a lot of ideas. The corona pandemic in particular has left its mark on the needs of managers.
Great Resignation: Is a wave of resignations coming here too?
The term "Great Resignation" referred to an expected wave of resignations in the United States that was due to occur from 2021. The American management professor Anthony Klotz spoke openly about the fact that several million employees in the USA would quit. The reason: The pandemic has sparked the question of the meaningfulness of many employees. Work should not just be about earning money, but your own personal happiness should be the priority. According to statistics, as of spring 2021, around 45 million Americans are said to have quit their jobs. The reasons for this are too little recognition, too little flexibility, and a better self-assessment of their own skills and opportunities on the job market. But Germany is not like America! Well, a similar effect is expected for the German job market, which is just now setting in. In addition to the shortage of skilled workers, companies are losing well-trained workers after the pandemic. The willingness to quit is also increasing on the German job market. This is forcing many companies to improve working conditions.
Talent attraction is not just about money!
Of course, money plays an important role in talent attraction. But in contrast to the past, this factor has moved further into the background. Employees are increasingly concerned with a good work-life balance, a healthy working atmosphere and the introduction of New Work. The good old fruit basket, free drinks or a ticket for public transport are no longer enough. Employers must follow suit and improve the corporate culture and loyalty to a company. It is noticeable that the willingness to change or quit is increasing all the time.
A study by PWC shows that of 52,000 respondents from 44 countries, around 20% are prepared to quit their job in the next year. It is particularly striking that the willingness to do so is particularly high among the next generation between 18 and 25. The expectations of a job include:
- A reasonable salary
- The search for meaningful work
- Being able to be yourself in the job
- Flexible working hours
- Flexible work locations
The last two reasons clearly speak in favor of New Work and an adjustment of work structures. In this study, almost 63% explicitly stated that they want a hybrid solution for their company or their job. Surveys in Germany come to similar results regarding preferences for the future. In a Handelsblatt study, 20% of employees stated that they would like to work completely remotely, almost 35% want to spend two to three days in the home office, and almost 25% would like to work from home occasionally. A trend towards an alternating model can be seen.
Listening to the needs of managers
The pandemic acted as a catalyst for this development. Now that many restrictions are slowly being lifted, it seems as if people want to turn back time. Back to the office is the motto in many companies. In the war for talent, companies should listen to the needs of their employees and especially their managers. Employee surveys and the involvement of the workforce in the change management process are essential to find out what managers want. One way to do this is to use the “New Work & Culture Check” model, which compares the general attitude towards a future work model with personal wishes. In this way, companies find out about their status quo from employees, identify similarities and differences, and can use this to develop an overall concept.
Personas that classify different employee groups and their needs and respond to individual requirements are also suitable for particularly diversified companies. In order to attract managers in the future, however, many people consider a hybrid work model to be an important unique selling point. Thanks to this model, they are able to apply for a job in any company in the world, work remotely or enter into a rotating model to improve their work-life balance. This is especially true for women. The shift to a hybrid model can and will continue to be seen as an attractive factor for working in a company in the future.
Quickly introduce hybrid working with Seatti & actively promote talent attraction
Do you want to give your employees the opportunity to switch to a hybrid working model quickly and easily? Then take a closer look at Seatti! Because the integration into existing systems such as Microsoft Teams or Azure AD makes implementation particularly quick. And the intuitive interface means that training and workshops are simply no longer necessary! With functions such as workplace booking, room booking or the location overview, your employees are not only guaranteed a place in the office, but are also offered many social features that enable them to meet up and keep the company culture alive.
