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Czech Republic

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Overall score

Score by Indicator

5.0
in 2016 4.7
0 2.5 5 7.5 10

Key drivers

Education flexibility

The proportion of graduates in the Czech population has been steadily increasing. All else being equal, this could help ease labour market pressures in the long term.

Talent mismatch

A sharp rise in unfilled vacancies suggests that employers in the Czech Republic are having an increasingly difficult time finding the employees they need.

Wage pressure in high-skill industries

The most recent data shows a narrowing gap in pay between people working in high-skill industries and lower-skill industries.

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COUNTRY OVERVIEW

View from the ground

Ladislav Kučera, Managing Director, Hays Czech Republic

The positive development of the Czech economy continues, which is not only a reflection of strong export but also driven by an increase in household spend. Foreign companies and investors verified the competitiveness and quality of the labour force in the Czech Republic and have continued to shift operations with higher added value. Sectors such as Manufacturing, IT and Business Services are continuing to expand, which leads to volume in newly created jobs and the need for new staff, followed by increase in wages in most sectors. Hunger for talent has brought the Czech Republic’s unemployment rate to its lowest levels since the fall of the Iron Curtain. It’s with regret that we’re seeing insufficient flexibility from the education system to address actual business needs.

Ladislav Kučera, Managing Director, Hays Czech Republic

Country Profile

The Czech Republic working age population is expected to fall, according to the UN, by nearly 4 per cent between 2015 and 2020; although rising labour market participation rates have helped offset the challenges this would pose for companies looking to recruit workers in this environment.

While the Czech Republic’s overall score does not suggest extreme pressures in its labour market, the direction of change indicates it is becoming harder to attract and retain unskilled workers.

Two indicators of labour market tightness are that job vacancies increased in 2016, and the country’s unemployment rate is forecast to fall from 4 per cent last year to 3 per cent this year.

Key skills in demand

  • Sales representatives
  • IT developers
  • QA engineers
  • HR specialists
  • English-speaking accountants

News and Press Materials

Ladislav Kučera, Managing Director, Hays Czech Republic