Categorized | Current Events, Economy

Full Employment Stresses Swiss Marketplace – Jobs for Specialists

Posted on 10 January 2008 by ThomasP

Large multinationals based in Switzerland are recruiting left and right. Numerous sectors are desperately seeking specialists.

Last year, prices of staples rose, oil skyrocketed, the American subprime crisis had financial repercussions in the banking and finance sector and the feeling in Europe was turning pessimistic.

Yet 2008 is kicking off to a strong start with the Swiss economy booming and indicators show it will continue to show strong growth with excessive demand for professional recruitment on the already stretched labor market. Attesting to the tight market jobs in Switzerland, the unemployment rate has sunk drastically and there are thousands of vacant posts for which companies are trying vainly to recruit qualified candidates.

A few examples : In the banking sector –and this in spite of the subprime crisis which has already cost CHF 15 and resulted in roughly 1500 jobs being axed—UBS is actually currently trying to recruit over 600 positions, essentially in portfolio management, Swiss economy booming - specialists needed

financial planning, client advising, and specialists (jurists, business developers, I.T., etc.).

The same is true at Credit Suisse where there are nearly 700 job openings. (Credit Suisse employs 20,000 people in Switzerland). The labor pool of qualified candidates has simply ‘dried up,’ according to many recruitment specialists in banking, finance, and I.T.

At Migros, there are 750 jobs openings, the highest number ever, and telecommunications giant Orange has job openings languishing for practically every type of profile –sales, logistics, I.T., marketing. Coop has nearly 150 job openings outstanding and ABB is seeking to recruit nearly 400 staff this year. Swisscom has 200+ job vacancies, Syngenta is trying to recruit over 200 new staff. 2007 was an exceptional year, with the employment market drawing in specialists from across Europe, but 2008 appears set to be even better for employees and an even worse Calvary for companies.

jobs in Switzerland - hot economy requires specialists

In the canton of Vaud, the chamber of commerce notes that more and more companies are being affected by increasing scarcity of qualified specialists. ‘It’s more and more difficult to find the professional staff we’re looking for,’ says the spokesman for ABB. Engineers, mechanics, electricians, watchmakers, portfolio managers, pharmaceutical specialists, financiers – there is a severe lack of specialists creating persistent job vacancies in Switzerland.

Enterprises are recruiting more and more abroad, particularly for high-level specialists and executives, according to the director of Adecco. Recruiters are making a lot of money, since they thrive in market conditions where qualified staff are rare and companies are desperate. In Zurich, the company MGF does much of its recruiting in Germany, France and Austria. According to a big headhunting firm in Geneva, there are many ads that get no responses at all.

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