War for Talents: Why the Competition Is So Fierce

More and more industries are reporting a shortage of skilled workers. It’s a simple equation: due to demographic change, there are not enough qualified employees entering the labour market – while the demand for workers is rising. As a result, the labour market in Switzerland and across Europe is increasingly out of balance. In addition, the immigration of skilled workers to Switzerland has declined compared to previous years.

At the same time, certain professions are losing relevance and appeal. In Switzerland, there is a particular lack of young professionals in the health and social care sector. Likewise, in the hospitality industry, a so-called “drain of skilled workers” is occurring, with qualified personnel moving to other sectors. A significant shortage is also emerging in the trades and in STEM professions.

Young Talents Have Different Expectations

Today’s young talents have very different expectations of companies and their culture, working hours, purpose, values and benefits. Generation Z differs significantly from Millennials – creating entirely new challenges for recruitment. This, in turn, requires the development of new strategies to win over the right professionals. Of course, money is still a major motivator. Nevertheless, many young employees want to help shape the company, grow professionally and see their values represented.  

Anyone wishing to succeed in the war for talents should focus on their corporate culture and take the wishes and needs of young talents seriously. In addition, strong employer branding is crucial in order to stand out from the competition – so work on your marketing and adapt your working conditions to meet the new demands, where possible and necessary.  

How to Win the War for Talents

There are certainly many factors that make the competition for skilled professionals more difficult. At the same time, there are many measures you can take in recruiting and within your workforce to avoid losing out in the war for talents. There is no one-size-fits-all solution. On the contrary: your measures should be tailored to the needs and desires of the talents you are seeking. However, there are some general factors that make a company attractive to skilled professionals.

Here are a few examples: An attractive corporate culture draws in applicants – use it as a showcase. Your leadership culture should be modern; rigid hierarchies often deter young talents. Flexible working hours and options such as home office or even remote work, on the other hand, make companies appealing. For many talents, the meaningfulness of the role and the opportunities for development are also key factors.

Clearly, how you perform in the war for talents becomes evident during the application process – keyword “candidate experience”. Make sure the process is transparent and make it as easy as possible for applicants with an intelligent applicant management system. The E-Recruiting Software from Refline is particularly effective in doing so. It reduces administrative effort by around 70 percent. This frees up time to develop the right strategies, strengthen your employer brand, and ultimately emerge as the winner in the war for talents.