A country famous for its ski resorts, cheese, chocolate and its bank accounts. And despite a high cost of living, this is overshadowed by a high quality of life with salaries to match. As for the jobs and talent market, the landlocked central European country scooped the top spot – for the fourth consecutive year – in the 2020 Talent Competitiveness Index compiled by the Institute of Management Development (IMD).
“The market in Switzerland has great appeal to overseas talent and is renowned for developing and investing in its own talent,” says Charlotte Vitoux, MD for Morgan Philips Switzerland. “Salary levels are very high and unemployment is below three per cent. There are plenty of job opportunities and candidates are no longer cautious as they were during COVID but are more open to exploring new roles and taking risks. People are dedicated to their jobs and very proud to work for their companies. They want to get on with things build a future for themselves and their organisations.”
The Swiss economy is booming. The number of job ads are at pre-pandemic levels. A strong Q2 rebound saw its current account record a surplus of CHF11bn. Vitoux picks out some of the key industry trends: “There are a lot of expectations from our clients across a wide range of industries, such as tech and digital. Digital transformation is all the rage even in more traditional industries but we’re just at the start compared to other European countries. CRM programmes are at the heart of everything and we’re seeing lots of demand for UX/UI specialists as well as data analysts, data scientists and cyber experts. Medtech and medical devices, fintech, private banking and cryptocurrency [Crypto Valley is one of the world’s leading blockchain ecosystems] are also growth sectors.”
One of those traditional sectors is the world famous watchmaking industry with its hub in Geneva. “It’s one of the oldest and most established industries in the country and it’s a great source of pride for Switzerland. People don’t want to leave the sector and many want to join. All the ‘maisons’ have had to transform themselves very fast, COVID has provided that opportunity and they are now focusing more on their digital customer rather than in-store experience. Interestingly, the pre-owned vintage watch market is now a big money spinner for the big brands despite early reservations,” notes Vitoux.
Learning to be agile
People skills and personality are critical, not just for hiring managers but those looking for new roles. As Vitoux explains, “Candidates are looking for inspirational leaders – brand and salary are secondary. Companies want people with vision, hands on leaders, to bridge the gap between the board and the rest of the company. This is why there is such an emphasis on meeting people in person to understand what makes them tick. I cannot stress enough the importance of soft skills such as agility, team spirit, adopting a learner mindset – all crucial attributes for everyone in today’s new world of work.”
The demand for interims and interim managers, which was magnified during the pandemic, has also maintained its level of activity, as companies continue to need flexible, short-term resources to deliver on their business critical projects. “There is still a lot of demand for interims but the profile of candidate has changed,” Vitoux remarks. “It’s no longer the preserve of the highly experienced. These individuals are now looking to work four days a week, so typically permanent contracts but on a part-time basis as they are more keen on developing other interests and improve their work-life balance.”
How does she see things panning out in 2022? “Individuals want to progress and upskill, for example train themselves on digital data, transform themselves and learn. The mentality here is that you’re responsible for yourself, people don’t wait for things to happen, they’re proactive. As for working from home, employees are happy to compromise. Typically, they want to work from home one or two days a week but prefer to be in the office and share ideas, celebrate with their teams. They miss the social side.”
And how does Geneva compare to London or Paris? “I would say the pace of life is less frenetic in Switzerland, people take more time to meet face to face and it’s important to build and nurture those relationships,” says Vitoux. “Organisations take a very measured approach and won’t rush into things. It’s harder to make inroads and build trust, but slowly the walls come down. Candidates too are very authentic, KPI focused and reliable with excellent academic backgrounds. There is more workplace mobility in Switzerland and hiring managers are very much interested in the person.”
