Competitiveness / Employment and Social Affairs
This section feature research, opinion and progress reports on how the Czech Republic compares to other EU countries economically. It includes analysis of international rankings such as the WEF and World Bank.
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The shortage of employees will cost Czech private companies over 280 billion this year
The biggest challenge for private companies in Central and Eastern Europe is the growing lack of skilled people and talents which would grow their business. This is the results of a survey conducted by PwC, which interviewed the management of 600 privately owned companies in 15 countries of the region. A quarter of respondents reported that they see more than 5% of profits loss due to lack of workforce. PwC estimates that talents shortage cost private companies in the region EUR 358 billion per year. So more than the GDP of Croatia, Hungary and Slovakia combined. Czech companies then lose EUR 11 billion. The most lacking proffesions are technicians, traders and engineers.
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M.Mejtsky of Petyovsky & Partners: The Czech Republic: New Appointments Currently not Available at some Czech Embassies
In relation to finalisation of the legislative process of the Czech Immigration Law amendment, which is expected to be effective as of the 1st of September 2019, some of the Czech Embassies has temporarily stopped accepting appointment requests for submission of Employee Card applications and Long-Term Visa applications for the purpose of "Business", M.Mejtsky of Petyovsky & Partners writes.
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ManpowerGroup Czech Republic Employment Outlook Survey for Q3 2019: Czech Employers Report Conservative Hiring Plans
Job seekers can expect a soft labor market in the third quarter of 2019, according to Czech employers who report a seasonally adjusted Net Employment Outlook of +3%. Hiring intentions remain relatively stable in comparison with both 2Q 2019 and 3Q 2018, according to ManpowerGroup Employment Outlook Survey for the third quarter of 2019.
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