Improving Employee Retention: Evidence from “Best Practices” in the Craft Sector to Tackle the Labor Shortage of Skilled Workers

Romina Klara Haller ()
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Romina Klara Haller: Mendel University

Chapter Chapter 15 in Applied Economic Research and Trends, 2024, pp 245-263 from Springer

Abstract: Abstract The labor markets have undergone several significant transformations in recent years. Though companies used to be able to choose from many applicants, today, the issue of the “labor shortage of skilled workers,” especially in the craft sector, is very present. Young skilled workers are highly sought after, and new retention measures are needed to retain them instead of only recruiting new talents. The chapter addresses the research question, What are the leading factors for employees to stay in a firm and to what extent are these transferable to the craft sector? A systematic literature review identified factors that keep people in the company. In the second step, qualitative expert interviews were conducted with managers or owners of craft enterprises, which were suggested as “Best Practices” by the self-regulated German Chambers of Crafts. Based on the literature review results, the interviewees confirmed three important stay factors for young people after their apprenticeship in the craft sector: autonomy, team spirit, and further education. Furthermore, extrinsic factors like money play a subordinate or given role. The results are also transferable to small- and medium-sized companies and give insight into the needs and motivation of Gen Z. They serve as an essential basis to derive countermeasures against the shortage of skilled workers and the increasing brain drain.

Keywords: Employee retention; Shortage of skilled workers; Human resource management; Craft sector (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-49105-4_15

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DOI: 10.1007/978-3-031-49105-4_15

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