Prospective employees are rarely paid to attend a job interview. However, travel restrictions due to the Covid pandemic have caused some employers to rethink their strategy.
Skilled workers in the IT sector, in particular, are in high demand as Europe opens up again.
Stefan Knoll, the founder of Deutsche Familienversicherung, a growing Frankfurt-based insurer, is now offering €500 to anyone who interviews for a vacancy, €1,000 to those who make it to the second round and €5,000 to candidates who complete a six-month probationary period.
He told the FinancialTimes“It’s especially hard to find someone with computer skills.
“We compete with giants like Allianz who can easily hire hundreds of people around the world, but we’re not interested in hiring people in India. We want people here in Frankfurt.”
The move may be a sign of things to come as employers fight to win more qualified employees.
The demand is a welcome change from unemployment rates of years past, as employees now have the opportunity to be offered better-paying jobs.
Other sectors experiencing shortages include healthcare and construction as the Covid pandemic continues and the housing crisis remains plagued by ever-increasing demand.
The increased demand will also benefit people who are happy in their current roles.
Wages are expected to rise by 5-10% in specific sectors this year, according to Morgan McKinley’s latest Irish salary guide.
The global professional recruitment consultancy released the new data after analyzing salaries across different industries.
A skills shortage means that jobs that require specific training should see a salary increase of between 15% and 20%.
These sectors include technology, science, the Irish pharmaceutical industry, biopharmaceuticals and engineering.
The study also reported that more than 80% of people plan to change careers in the next six to 12 months.
Tracy Keevans, global director of FDI at Morgan McKinley Ireland, said the pandemic has caused many workers to reassess their positions.
She said: “The experience of the sustained public health emergency has prompted countless workers to re-evaluate their work options, refine a better work-life balance and make deliberate choices about where to go. their career,” she said.
“They are looking for opportunities that offer them the right pay, benefits and long-term working conditions.”