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Executive Search in Germany – 2015 Outlook
Business Confidence In Germany Recovers
Executive search in Germany is robust as the economy continues to do well, companies are expanding and are hiring. Some major issues lurk on the horizon, however, the biggest probably being Russia. Since Russia is a large trading partner the current trading constraints and the turmoil of the Russian market will have an influence on Germany. Luckily for Germany it trades with many different countries so that, while that effect will be felt, it won’t be disastrous.
Another development in Germany, particularly for HR, is the introduction of the minimum wage of €8.50. While this will not be an issue for many, for some industries, particularly in the service sector, this will be a real problem. It remains to be seen how this will play out in terms of employment / unemployment.
In the Summer and early Fall of 2014 the German business confidence dipped (together with the stock markets) but then started a recovery towards the latter part of the year so that confidence is back at a good level at this point. The dip in oil prices will certainly help.
Politics, apart from the usual squabbling, remain stable as they have been for the past many years in Germany.
We are seeing an upsurge of foreign businesses contacting us, wanting to get established in Germany. We see this due to strengthening economies in other areas, giving businesses confidence to expand internationally.
Once this decision has been made, Germany becomes a prime target for this expansion. While the market tends to be quite difficult, if a company manages to break into the market, it can be extremely rewarding.
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