Poland ranked third out of the 30 countries examined by global recruiter Hays as one of the countries with the lowest level of talent mismatch. It received a score of 3.3 on a scale of 0 to 10.0, with 0 indicating that employers have very little problem finding the skills they need and 10.0 meaning the level of long-term unemployment remains high despite a large number of vacancies. The only two countries which scored better in matching talents with jobs were the Czech Republic (0.7) and Belgium (2.2).
Poland’s overall score in the Hays Global Skills Index was 5.2, the same as last year, which indicates that Poland has an efficient and balanced labor market.
High salaries in IT
Out of all the factors examined, wage pressure in high-skill industries created the highest upward pressure on the overall index. A score of 7.3 in the high-tech sector, where 5.0 is the equilibrium point, means that wages in those industries increased much faster than in other sectors.
“IT specialists and engineers are in the highest demand in Poland, therefore their salary level exceeds those of other professions,” said Michał Młynarczyk, managing director at Hays Poland.
On the other hand, the country’s effective and high-quality education system produces a large number of well-qualified graduates, making it easier for employers to find the people they need.
The country also had a relatively low long-term unemployment rate of 3.4 percent, which is lower than that of Portugal (8.7 percent), Ireland (8 percent), Italy (6.3 percent) and Hungary (5.4 percent), but still significantly higher than in Austria (1.3 percent), Russia (1.8 percent) and the Czech Republic (3 percent).
China saw an improved score from last year’s 5.5 and recorded a score of 5.0 in 2013, which points to an almost perfect balance in the Asian country’s labor market. Austria with 5.1 and Poland, the UK and France (5.2 each) also have reasonably balanced skilled-labor markets.
Italy remained the country with the lowest score of 3.6, which points to significant skills shortages in the labor market, but still closer to equilibrium than it was last year with a score of 3.3. Businesses in the Czech Republic (a score of 4.4) may also encounter difficulties in filling top positions.
Japan on the other hand had the highest score (6.6), which compared to last year’s result of 5.3 points to a deteriorating situation on the labor market with a growing mismatch between the skills available and the skills needed. The United States had the second-highest score at 6.4, the same as in 2012, indicative of significant difficulties skilled workers continue to experience in finding employment.
The Hays Global Skills Index
The Index ranges between 0 and 10.0, with 5.0 corresponding to a balanced picture for the labor market. A score close to 0 indicates that companies are facing some skills shortage, which may result in adverse consequences such as wage inflation, whereas a score close to 10 is characteristic for labor markets where there are many skilled workers who cannot find suitable jobs, which leads to high unemployment levels in the skilled workforce.
The indicator measures seven key factors shaping the skilled labor market in developed economies. It measures “education flexibility,” meaning the ability of the country’s education system to meet the labor needs of the industries. It also assesses “labor market participation,” corresponding to how many working-age people are in the labor pool, and “labor market flexibility,” which assesses the legislation and the constrains it puts on the market. Another factor examined is “talent mismatch,” which portrays the discrepancy between the available skill pool and what businesses need. There are also three wage-pressure factors included in the index: “overall wage pressure” which shows if wages keep up with inflation or diverge from it, “wage pressure in high-skilled industries,” such as IT or R&D, as well as “wage pressure in high-skill occupations.”
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