Daily NewsView All News
According to management consulting firm McKinsey Germany, there will be a shortage of personnel in the German labour market by 2015, which is expected to rise to 2 million unfilled posts by 2020 due to the demographic changes, which are expected to take place over the next ten years.
McKinsey Germany Managing Director, Frank Mattern, told Sunday newspaper Welt am Sonntag, "faced with this expected staff shortage in the marketplace, it should be in companies' interests to hold on to their qualified staff. They should use reduced working hour schemes wherever this makes sense."
This statement comes before current estimates by a specialist government committee (Sachverstaendigenrat) that German companies currently employ 2.2 million more staff than they actually require.
Mattern went on to say, "in the US, companies have restructured far more quickly [due to the economic crisis], which has noticeably increased unemployment. We in Germany have avoided to do that, which was not a mistake because staff shortages will become a serious problem."
Mattern also recommends that Germany should continue to hold on to her 'export strategy'. He said, "the export-oriented model was good for us in the past and will continue to be so in the future. 24% of our Gross National Product (GNP) is generated by manufacturing and 60% of growth over the past ten years came from Germany's positive Balance of Trade."