Austria is home to a healthy economy, characterized by low unemployment and dominated by SMEs.There’s been a recent move towards a more service-oriented economy, as other industries like mining decline, making it possible to access all ranges of skilled labour. This article provides an introduction to recruiting and finding talent in the Austrian market.
The market at a glance
Size of workforce
Those who work for pay or profit for at least one hour a week, or who have a job but are temporarily not at work due to illness, leave or industrial action
4.5m
people
Employment rate
The ratio of the employed to the working age
73%
Education rate
% of population (25-44 yrs old) with tertiary graduation rates
40%
Cost of labour
Average wages
$48,295
English proficiency index (world)
The world's largest ranking of countries and regions by English skills
#10/80
High proficiency
English proficiency index (Europe)
Europe's largest ranking of countries and regions by English skills
#8/27
High proficiency
Finding the right talent
The Austrian Employment Service (AMS, Arbeitsmarktservice) is a government institution that acts as a platform between employers and employees, and is a good place to start looking for talent. Popular job sites include www.jobpilot.at and www.derstandard.at/stellenmarkt. Some of the larger employment agencies include Manpower, Adecco and REX.
Things to keep in mind
Employees have a minimum entitlement to 25 days’ paid annual leave in each year of work, and with 13 paid public holidays, it has the highest amount of paid leave in the EU after the Republic of Malta.
Although English is widely spoken, having a good knowledge of Austria’s national language, German, is important for success in the workplace.
Many jobs are actually located outside of Austria’s large cities in the tourism industry. Tourism accounts for 10% of the Austrian GDP, and tourism-related jobs are in high demand during both the summer and ski seasons.
Sources:
- Total 2017 Labour force
- % of working age population
- % of population (25-44 yrs old) with tertiary graduation rates
- Average wage
- English proficiency index
- Austria.info
- Wikipedia