Firms’ expectations about skill shortages

Helena Antonie Baier (), Philipp Lergetporer () and Thomas Rittmannsberger ()
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Helena Antonie Baier: Technical University of Munich
Philipp Lergetporer: Technical University of Munich
Thomas Rittmannsberger: TUM School of Management, Technical University of Munich

Small Business Economics, 2025, vol. 65, issue 2, No 17, 1095-1112

Abstract: Abstract Shortages of skilled labor present a critical challenge for economies worldwide. We surveyed over 1100 SME managers in Germany, revealing that most expect skill shortages to worsen and adversely affect their operations. Providing expert forecasts on future shortages to a randomly chosen subgroup of respondents barely affects the expected impacts of skill shortages on their firm, planned mitigation strategies, or business performance expectations. These limited effects likely stem from the already high priority placed on skill shortages, attenuating the impact of additional information. Our findings suggest that typical information campaigns may be ineffective, pointing to a need for more actionable strategies in addressing skill shortages.

Keywords: Skill Shortages; Survey; Experiment; SME (search for similar items in EconPapers)
JEL-codes: C93 D22 J21 M50 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s11187-025-01035-0

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