Article about the economic situation in Germany by AIMS International – published in: Recruiter – UK

AIMS International Business Development was asked for the economic situation in Germany. The following note was produced by International Business Developer Christian Schulte and German Senior Consultant Peter Barkhurst and published online and in print media by the Recruiter.
The economic situation has certainly had an effect on our clients, as well as on our recruitment business. Many recruiters have lost long-term clients, either temporarily or permanently, with the banking/financial and automotive sectors affected the most by the downturn. However, other sectors – such as renewable energy, building, public sector, pharmaceuticals, healthcare and life sciences – are thriving in this climate.

The German recruitment market is by no means saturated, with niches in some of these sectors mentioned still to be covered. There is actually a talent shortfall in some areas, including software development and engineering, but people are unwilling to move; as long as they are still employed there is a fear ofnew opportunities. The war on talent is not going to improve in the short term as unemployment is predicted to rise from 7.9% last year to 8.3% in 2010. But the good news is that predicted GDP will rise to +1.6% this year, compared with -4.9% in 2009.

As a retained executive search company, we are seeing positive signals for the start of 2010, producing good results in the first month. And our investment in quality service and customer relationships will pay further dividends when the economy picks up.