Adapting to skill shortages: what strategies to follow?

Giorgio Di Pietro

No JRC138816, JRC Research Reports from Joint Research Centre

Abstract: There is a relatively large body of evidence suggesting that skill shortages have an adverse effect on firm performance. We use data from a recent Eurobarometer survey in an attempt to identify strategies that firms can implement to mitigate the negative effects of skill shortages. Our results indicate that the use of temporary work contracts, increased reliance on automation, and the abandonment of certain product lines are all successful measures that help companies prevent the detrimental effect of skill shortages on their turnover. On the other hand, we find that upskilling and reskilling current staff is a less successful measure to respond to skill shortages, though this result only holds for SMEs.

Date: 2024-07
New Economics Papers: this item is included in nep-bec and nep-sbm
References: Add references at CitEc
Citations:

Downloads: (external link)
https://publications.jrc.ec.europa.eu/repository/handle/JRC138816 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ipt:iptwpa:jrc138816

Access Statistics for this paper

More papers in JRC Research Reports from Joint Research Centre Contact information at EDIRC.
Bibliographic data for series maintained by Publication Officer ().