Interview with Prof. (FH) Dr. Roman Stöger on the Current Job Market Situation
Following the publication of an interview with Prof. (FH) Dr. Roman Stöger, Professor of Strategic Corporate Management at the University of Applied Sciences (FH) Kufstein Tirol, regarding the shortage of skilled workers in the Tyrolean daily newspaper, Tiroler Tageszeitung, in April 2023, a significant and intense discussion on the current job market situation began. Stöger predicted that the shortage of skilled workers would escalate into a massive wave.
In the video interview below, Roman Stöger revisits his theses and elaborates on the key arguments. For instance, the bottleneck for companies is now not with the customers but in the employee sector. Consequently, Germany expects a five million skilled workers shortage in the coming years, while Austria anticipates a shortage of 500,000 employees. China may even face a shortage of up to 150 million skilled workers by 2034. The shortage of management personnel is significantly underestimated in this scenario.
Studies have shown that the shortage of skilled workers influences the Gross Domestic Product (GDP) more than the Corona pandemic. Especially in sectors like elderly care and the IT industry, eight out of ten positions cannot be filled with qualified personnel. This will subsequently lead to a decline in innovation.
Solutions for the skilled labor shortage problem include risk management, a business model review, automation and digitalization, creating a more attractive work environment for all age groups, and utilizing the potential of immigration.