Germany Talent Trends
While Germany remains Europe’s powerhouse, business conditions became more challenging in the second quarter as manufacturing cooled and the services sector posted its weakest performance in 15 months. Despite this loss of momentum, experts expect economic growth to continue through the rest of the year.
Destatis, the Federal Statistics Office posted record growth in employment, with nearly three-quarters (43.5 million) of working-age Germans currently in a job. And according to labor supply demand data pulled using the CEB TalentNeuron™ tool, job creation was also strong, with the number of jobs advertised online rising nearly 8 percent to 3.98 million from the previous quarter. However, just one-in-three workers in Germany are proactively looking for new jobs, a proportion that remains unchanged for the fourth consecutive quarter.
While the majority of the workforce (45.8 percent) is planning to stay with their current jobs for the next 12 months, that doesn’t mean they are content in their role or giving it their all. In fact, discretionary effort levels dipped slightly to 16 percent, but remain ahead of the European average.
To keep employees engaged and productive, companies should look at ways to facilitate a team-oriented and inclusive work environment, where people feel respected and recognized. Although compensation continues to drive workers’ decisions to leave and join companies, firms need to use non-financial incentives, such as development opportunities for example, to reward and acknowledge individual and team contributions.