The KfW-ifo skilled workers barometer shows only a slight, cyclical recovery and almost at the same time "Generation Z" replies that they are "in the mood for work". How does that fit together?
In today's blog, we would like to take a closer look at two current surveys on the shortage of skilled workers and on the hiring of job starters and young professionals.
In June 2023, the Reconstruction Loan Corporation (KfW) and the ifo Institute published the current KfW-ifo Barometer based on a regular survey of around 9,000 companies. It shows what percentage of the companies surveyed currently state that their business activities are being hampered by a shortage of skilled workers. The value is 42% across all sectors, with 47% of companies in the service sector complaining about a shortage of skilled workers, and 48% in the eastern federal states.
Almost half of all companies are restricted in their business activities due to a lack of suitable employees - and this is mainly due to the currently weakening economy.
If you look at the development of individual sectors since 2020, it becomes clear that in some sectors, such as accommodation, gastronomy or telecommunications, the shortage was particularly high in 2022, but has since declined significantly in some cases.
The situation is completely different in the legal and tax consulting or land traffic/transport sectors. In legal and tax advice, 75% of the companies surveyed are hampered in their business activities by a lack of skilled workers.
In legal and tax advice, 75% of the companies surveyed are hampered in their business activities by a lack of skilled workers.
Let's now look at the answers of the potential employees, also conducted in the second quarter of 2023 as part of a survey by market research company YouGov on behalf of LinkedIn of 2,499 people between the ages of 16 and 28 ("Gen Z"):
83% are willing to work hard if the pay is right
64% state that they want to make a career quickly
52% are willing to work overtime, including weekends, or to move house
The young people see the offer and the form as problematic:
58% perceive the requirements of vacancies as unrealistic
57% would like clear, simple job descriptions
54% would like more transparency regarding salary and development opportunities
The young people are correspondingly unsure about the current situation:
56% state that they know what they would like to do professionally
45% however do not know where to start looking for a job
43% feel overwhelmed when looking for a job.
We at UneeX would like companies and organizations to find an up-to-date answer to the uncertainties mentioned and the lack of information through the use of social media. And that, on the other hand, more young people dare to approach companies or organizations more actively and openly and try out new paths given the multitude of career opportunities.
From our experience and a large number of discussions with market participants, we see great potential for young people to get a good start into working life that suits them if they deal with it in a structured and professional manner at school. The digital tools for this are ready.