According to a study by the management consultancy Deloitte, the search for qualified personnel is gradually becoming the biggest problem for German companies: “The shortage of skilled workers is now again the most important risk for companies, followed by rising raw material costs, increasing regulation and energy costs,” wrote Deloitte chief economist Alexander Brsch in the study published in Munich on Thursday.
The consultants interviewed 158 CFOs from German companies in September. Two thirds named the shortage of skilled workers as a high risk. “This means that the tight labor markets are holding companies back,” explained Brsch. “The shortage of skilled workers runs through all industries.” The real estate and construction industries are currently suffering the most, affecting almost three quarters of companies.
The board members see growing risk factors for raw materials and energy costs, “which have reached threatening proportions for 42 percent of companies”. In the automotive and chemical industries it is even around 70 percent.
Auto industry is the most pessimistic
In principle, the CFOs surveyed continue to assess the economic outlook as positive, even if not as optimistic as in the spring or last autumn. When it comes to the business outlook for their own company, the retail and consumer goods industries were most confident. “An important outlier is the auto industry, which is much more pessimistic than the other sectors when it comes to the next twelve months.”
The investment intentions of the companies and their willingness to hire are very high. “Here there are two long-term, very momentous developments,” explained Brsch: “On the one hand, increasing scarcity on the labor market, which is likely to become even more acute in the current decade due to demographic developments a long sluggish overall economic productivity and thus increase growth. “
The productivity growth in Germany has halved since the beginning of the millennium. “A paradoxical side effect of the Corona crisis could be the overcoming of the investment weakness of the companies and a strongly accelerated digitization.” (dpa / mer)
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