A recent survey conducted by the European Central Bank (ECB) among 46 large non-financial firms has revealed that the European labor market has undergone significant changes in its characteristics compared to the pre-pandemic period.
These key changes include difficulty in finding skilled employees, employment growth, decline in productivity, a reduction of working hours, a drastic increase in remote work and the use of generative artificial intelligence (AI), in the workplace.
The majority (90%) of the companies participating in the study, said that finding employees has become more difficult compared to 5 to 10 years ago, with most citing a lack of skilled workers while about 50% stated that there is a general labor shortage, regardless of skills level. 60 % of the companies admitted that attracting skilled employees has become more difficult due to wage levels.
More than one in three respondents noted that their companies prefer to retain employees when business conditions worsen, and nearly all attributed this to the anticipated difficulty of finding staff when the business environment improves. About half of the companies, however, believe there are other reasons for maintaining their employees.
One in three companies cited upcoming retirements as a major factor, while profitability allows them to keep their employees. One in five companies noted that the reduction in real wages was an incentive for maintaining employment.
It is worth noting that over 80% of the participant companies confirmed the wide use of remote work, citing it as an option that helps them attract employees. Furthermore, around 50% of the respondents agreed that remote work allows them to reduce office space and related operational costs. Conversely only one in four companies said that remote work lowers wage demands.
Regarding the use of generative AI, nearly three in four of the study participants stated they already use it, citing improvement of employee access to information as a primary reason, with over 90% of the companies considering it very important. Finally, it should be noted that around half the companies see the reduction of staff as a significant incentive for using artificial intelligence.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Tender for Repairs on Athens Olympic Stadium’s (OAKA) Iconic Roof
Tender for OAKA project, which is expected to exceed 78 million euros, stipulates that repairs, maintenance must be conducted while venue remains open for events
Louis-Dreyfus Family Eyes 21% Stake in Thessaloniki Port
The newly created Amsterdam-based LeonidsPort company has submitted a voluntary public offer for 21%
EUIPO Throws Out Turkaegean Trademark
The trademark had been filed by the Türkiye Tourism Promotion and Development Agency (TGA) in 2021 and immediately generated heated opposition by Athens
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
Greece’s Trade Deficit Surges by 18.7% in Nov. 2024
For the first 11 months of 2024, the total value of imports reached 77.3793 billion euros, a 1.9% rise compared to 75.9482 billion euros in the same period of 2023.
Installing EV Chargers in Your Building is Harder than You Think
So, you just bought an EV in Greece and can’t wait to set up a charger in your apartment building’s parking space? Not so fast—there are a few hurdles you’ll need to clear first.
Greece Announces Grants to Unemployed for New SMEs
Unemployed individuals seeking 12-month grants to fund the creation of new SMEs can apply online until January 21.
Port of Piraeus Reports Record-breaking Year for Cruise Sector
First cruise ship of the season, Viking Saturn, greeted at Greece's largest, busiest port
Greek Energy Minister Skylakakis Announces Subsidies to Mitigate Electricity Prices
“When prices exceed a certain threshold, we intervene,” said Skylakakis
Mitsotakis: Greece is a Beacon of Stability in an Unstable World
Greek Prime Minister Kyriakos Mitsotakis described Greece as a "beacon of stability in an unstable world" following the Epiphany water blessing ceremony at Dexameni Square in Athens.
