Lack Of Skilled Staff Costing German SMEs 33 Billion Euros

10 Aug 2013

It is costing 33 billion Euros for German SMEs due to lack of skilled staff. The backbones of Europe’s economy are German small and medium-sized businesses and are struggling to fill skilled workers. Surveyed by consultants Ernst & Young, said it was “rather” or very difficult to find skilled and qualified workers and three-quarters of the 700 companies employing between 30 and 2,000 staff. The worst-hit sectors are energy and construction followed by services and trade industry. Based on the official statistics on German companies and the survey results, Ernst & Young calculated the businesses were missing out on $44 billion. 

The small and medium sized business suffers due to the absence of a special service dedicated to staff management. The companies surveyed said they relied upon continuous staff training and paid particular attention to older workers which is one of the key factors. SMB’s in the Germany are trying to recruit from abroad, after the government recently extended the list related to which a work permit in Germany can easily be obtained.