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The DIHK estimates that 1.6 million skilled workers are lacking

According to the recently published assessment of the Association of German Chambers of Industry and Commerce (Deutscher Industrie- und Handelskammertag - DIHK), the shortage of skilled workers is taking on ever more threatening traits and is increasingly costing the economic growth potential.

Based on a survey of almost 24,000 companies, the latest DIHK labour market report calculated that meanwhile around 1.6 million vacancies cannot be filled in the longer term.

This gap will tend to increase further in the next few years," said DIHK Vice President Achim Dercks. According to a study by the Institute for Employment Research (IAB), last year, Germans worked almost 60 billion hours, the highest number of hours since 1991.

The current economic trend in recent months has developed much better than many economists had expected. However, the current economic momentum could be even stronger if the lack of well-trained specialists and managers did not put a brake on companies. Many are already working at the limit, some even talk about over-utilisation of their capacities.

According to the DIHK, the consequences of the shortage of skilled workers meanwhile go far beyond individual companies.

Falling growth potential, obstacles to innovation, restrictions on supply and the impact on investment decisions are important consequences of a sustained lack of skilled workers," Mr Dercks continued.

There is no patent remedy for companies against the lack of specialists and managers. However, it is important that companies do not take the issue lightly and are aware of the current situation in the labour market. The decision-makers have to go into Media Res for your company and do a self-reflection of the necessary activities. Which and how many positions are vacant and with which priority do they have to be filled? Employer branding is an important factor to stand out from the competition. The first step can be to obtain feedback from employees in your own company. Good things can be incorporated into employer branding, while criticism serves to improve.

“We also often observe that companies only follow classic recruiting paths, do not try alternative approaches or look beyond their own horizons. Of course, we as Executive Search Consultants also notice that there are few qualified and suitable candidates, but we know how and where to find the classic needle in a haystack," says Martin Krill, Managing Director of Hager Unternehmensberatung GmbH.

Recruiting in times of a lack of specialists and managers cannot be handled by traditional methods alone. Employers should try new approaches and enter unfamiliar territory. In addition, it may also be advantageous to consult external support before a standstill in growth or loss of sales due to an internal understaffing.