Randstad ifo Study
The majority of companies in this country do not want to create any new jobs in 2024
Almost half of German companies are pursuing a conservative personnel policy this year. But at least 28% of companies expect staff growth. Salaries are also expected to rise by an average of 4.7%. To counteract the shortage of applicants, Randstad expert Dr. Christoph Kahlenberg to offer more qualification opportunities.
Eschborn, January 2024 – New year, new colleagues? At least not beyond the natural fluctuation in the company. Because 49% of companies give in the current Randstad-ifo HR Manager Survey Q4 2023 indicates that its workforce will remain the same in the first half of 2024. However, 28% expect more staff, while almost a fifth (18%) of companies plan to cut jobs.
But when it comes to salary, employees can be happy. This year, wages are expected to rise for most of them: 82% of the companies surveyed assume this and expect an increase of an average of 4.7%. While 72% of small companies expect wages to rise, in medium-sized companies with up to 249 employees the figure is eight out of ten (82%), nine out of ten (91%) with 250 or more employees and even 97% in large companies with 500 or more employees.
The applicant market challenges companies
Although the number of employees in many companies is not growing, almost all HR managers are still looking for new employees. Currently only 6% are not looking. But despite rising salaries, new employees are not easy to find. 54% of those surveyed who are looking for personnel feel a shortage of applicants – and this to a similar extent in industry, trade and the service sector. However, there are clear differences in company size. While 60% of large companies (500 or more employees) notice a lack of applicants, only 39% of medium-sized companies (250 – 499 employees) do so.
Further training of your own workforce as a response to a lack of applicants
Given the ongoing labor shortage, 54% of HR managers surveyed consider qualification and further training to be increasingly important for the future success of their company. “This result is very positive, because an option that has not yet been sufficiently used to address the shortage of qualified applicants and increase growth potential is further training and qualification – especially in dealing with digital technologies. By investing in their own employees, companies can tap into future sources of value creation with their existing staff and at the same time strengthen employee loyalty,” says Dr. Christoph Kahlenberg, Manager Randstad Academy & Labor Market Projects at Randstad Germany.
About the Randstad-ifo HR manager survey
The results presented come from the Randstad-ifo HR Manager Survey Q4 2023, which is carried out quarterly by the ifo Institute on behalf of the personnel service provider Randstad. The study surveys 600 to 1,000 HR managers in German companies of different sizes and industries. The special questions for the fourth quarter of 2023 focus on the assessment of the political framework conditions on the part of the economy.
Randstad is Germany’s leading personnel service provider. We help companies and employees realize their potential by combining our technological expertise with our flair for people. We call this principle human forward. In the Randstad Group Germany we have 47,350 employees and around 530 branches in 300 cities. Our sales volume is around 2.014 billion euros (2022). In addition to classic temporary employment, our portfolio includes the business areas of professional services, personnel placement, HR solutions and in-house services. As an experienced and trustworthy partner, we create tailor-made personnel solutions for our customer companies. Our individual service and development offers for employees and applicants also make us an attractive employer and service provider for specialists and managers. Active in Germany for over 50 years, we and the Randstad Group Germany belong to the Dutch Randstad NV. A total turnover of around 27.6 billion euros (year 2022), around 662,200 employees on a daily basis and around 4,900 branches in 39 markets make up our international corporate group the largest personnel service provider in the world. In addition to Randstad Deutschland GmbH & Co KG, our national branches also include the companies Tempo Team, Gulp, Monster, twago, Randstad Sourceright, Randstad Outsourcing GmbH as well as Randstad Automotive and Randstad Financial Services. CEO is Richard Jager.
Contact
Randstad Germany
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65760 Eschborn
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