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Czech Republic: Tough competition for talent

Czech Republic: Tough competition for talent

The Czech economy has been among the fastest-growing economies in Europe for several years. Its GDP is expected to grow by 2.6% and employment rate to sink below 6% in 2016. This is one of the lowest unemployment rates in today’s Europe. The Czech economy is closely linked with Germany, and, for example, with its car industry. The car industry makes up 8% of the Czech GDP and employs more than 3% of the working population. Due to its close links with Germany, the emissions scandal of the Volkswagen Group can be regarded as one of the risks for the Czech economy, because of the indirect effects it might have on the country’s economy.

According to Czech-based Milan Jasny, CEO of LMC, and Petr Kubacka from Monster.cz, the low unemployment rate forces companies to fight for talented staff, particularly in the IT and technology sectors. They say some even describe the situation in the job market as “war for talent”. Although there are talented experts in the labour market, only a few of them are available. In order to activate the labour force to apply for a new job or change jobs, the Czech Republic needs services provided by recruitment companies: guidance, HR marketing, campaigns and effective utilisation of social media channels. Today’s job applicants are demanding, and they want to know everything they can about the potential job before they think about starting the application process, Jasny and Kubacka tell us.

We combine the reach and penetration of the market leading Jobs.cz and Monster.cz channels, providing unrivalled coverage of the Czech Republic market. Our 10 million population is rich in skillsets across both Service and Manufacturing industries (with particular strength in Automotive, Armaments, Chemicals, Glass, Machinery and Metallurgy) – and 97 % of the university educated candidates recognise us as ‘The Destination’ to find the best jobs, best career move and best information for personal development. Read more >>