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Czech Republic: Vital movement at both ends of the age spectrum

Czech Republic: Vital movement at both ends of the age spectrum

The Czech labour market has been going through structural changes in the last few years and this process will gain pace significantly in the near future. The number of graduates joining the workforce is gradually reducing, while people are retiring in increasing numbers each year. 10 years from now, our market will lack as many as 500,000 skilled personnel relative to today.

These factors are intensifying the competition between employers when attracting the best-qualified, most competent people. This varies across industries and specialisations, with the biggest gaps deepening in highly demanding technical fields such as IT.

To be attractive to potential employees, companies must take heed of their changing needs. One of the biggest issues is the growing hunger for flexible work time, which 60% of young people consider essential. Another is the provision of part-time work, which 30% of young people prefer when studying or in their first position.

These topics represent great opportunities for differentiation. The companies who tackle them first are certain to attract better, more engaged candidates.

The higher average age of employees is also important to consider. Today, the majority of employees are aged 30-44, while in 2025 the majority will be over 50. For the most part such employees are both under-utilised and under-engaged, but companies will have to address this discrimination soon or lose a significant group of experienced, skilled candidates.

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