Swiss salaries expected to rise significantly in 2023 due to labour shortage
A new report by ManpowerGroup has revealed that salaries in Switzerland are expected to rise in 2023. The employment agency found that 10 of the 11 sectors analysed by the report are struggling to fill jobs, making pay rises for prospective and current workers highly likely.
Wage increases expected in many Swiss businesses
When releasing its employment prospects report for the fourth quarter of 2022, ManpowerGroup’s director of the Romande region, Laurent Vacelet, told Blick that "2023 will be a year in which the increase in wages will be substantial in many sectors." When analysing 500 international companies and domestic Swiss businesses, the agency found that, aside from banking, finance, insurance and real estate agents, “job optimism remains high” in all sectors.
The study found that 36 percent of companies are still planning to hire staff, while 16 percent plan to lay people off. Vacelet explained that the new demand for workers can be attributed to companies preparing for possible energy and material shortages in the future.
The companies hoping to hire the most are in the production and processing sector, with 34 percent of businesses looking to hire. As the country prepares for energy shortages this winter, ManpowerGroup noted that demand for photovoltaic and green energy specialists has also skyrocketed.
Demand for specialist workers at new high in Switzerland
Demand for specialists, particularly those with a focus on the environment, has increased to 37 percent of all companies surveyed, along with specialisms in governance (34 percent), and safety, health, diversity and social commitment (33 percent). Vacelet noted, “We now know with certainty that the new generation is much more sensitive to these themes than their elders.”
Concluding his statement, Vacelet said that “today, there is a gap between supply and demand. Employers must therefore be ever more attractive to achieve this. This race will also go through salary increases. "According to studies and literature on the subject and in view of inflation, increases of 2 to 5 percent are needed, he explained.” “Of course, it depends on the business sectors. But the trend is clear.”