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Germany’s Mittelstand: lacking managers
News Barbara Barkhausen - 12.26.2011
Germany’s „Mittelstand“ – a term that stands for smaller and medium sized companies – are in desperate need of skilled workers and executive staff. Estimates show that the “Mittelstand”-sector could add about 33 billion Euro (43 billion US dollars) to its revenues by recruiting sufficient qualified personnel.
The Mittelstand’s intermediate solution is to work hard to retain good and qualified staff and to avoid staff fluctuation. A survey amongst the companies showed that 63 per cent of the companies placed a lot of emphasis on strengthening employee loyalty. Avoiding colleagues leaving the company was placed higher in priority than recruiting new staff. Accountancy firm Ernst & Young presented these results together with business school ESCP Europe in its new study „Talent Management in ‚Mittelstand‘ – innovative strategies against skill shortage“ which was conducted amongst 700 companies.
Source:
ESCP Europe