38% of German-speaking Swiss want to work less despite skills shortage

The labor market in Switzerland is currently facing several challenges at the same time: a weakening economy, demographic change, a shortage of skilled workers and AI, which can have an impact on many of these areas. 

Around 5.3 million people are employed on the Swiss labor market in a wide variety of working time models. At the same time, the average weekly working time in Switzerland is 31.2 hours (2023) - which is below the European average (36.9 hours; source: Statista). An entire generation, namely the baby boomers, is leaving the labor market for retirement. Despite the recession, this is combining to create a labor market in which many companies are struggling to find enough workers and specialists.

More work? Half of employees in Switzerland are satisfied with their working hours

Across all generations, more than half of employees in Switzerland (55 %) see no need to work more to counteract the economic downturn. 

Opinion leaders here tend to be the older baby boomer and Generation X generations, who have been in the workforce for longer: 73 % (Baby Boomers) and 61 % (Generation X) of them say that working more is not necessary. The younger generations, Millennials and Gen Z, tend to share this opinion to a lesser extent: they largely agree with the discussion that it is necessary to work more rather than less in order to maintain prosperity (Millennials 50 % and Gen Z 55 %). 

However, this opinion is not entirely reflected in their own willingness to work. 45% of Gen Z are satisfied with the number of working hours as it is. 40 percent would like to work fewer hours, while 15 percent would like to work more. 40 percent of millennials would like to work fewer hours - almost on a par with 39 percent of millennials who are satisfied with the number of hours they work. Around one in five millennials surveyed would like to work more hours (21 %). Across all generations, the majority of respondents (44%) are satisfied with the number of hours they work. 38 percent would like to reduce their working hours.

"The trend shows a gap between the generations: While baby boomers, who are more willing to work harder than average, tend to feel they have done their bit but also generally see less need to increase working hours, younger people are more aware of an impending loss of prosperity. While they theoretically recognize that overtime is an effective antidote, they would tend to prefer not to have to do it themselves," says Sandra Bascha, Head of Communications at Xing in Switzerland. 

Many employees are already feeling the effects of the skills shortage first-hand: 33% report that their company is having difficulties finding suitable staff, while 23% perceive an increased workload. Interestingly, this contrasts with 24% of respondents who perceive little to no impact from the skills shortage. Poor mood and motivation problems (18 %), an increased stress level and concerns about burnout (17 %) and an increased transfer of responsibility (15 %) are the effects of the skills shortage that respondents feel most frequently.

Nevertheless, a total of 16% of respondents would like to work more. Among those who are employed part-time or in a marginal employment relationship, the proportion increases to 26% (part-time employees) and 33% (marginal employees). This is particularly interesting: Half of employees who are marginally employed are satisfied with their number of hours (50 %). Half of part-time employees also agree with this: they are satisfied with the way things are (50 %). 

For most employees, only financial incentives would make overtime attractive

But even those who do not necessarily want to work more would be persuaded to do so if the right offers were made. Financial benefits are the main focus for the respondents: bonus payments and premiums (44 %), (significantly) higher salary over and above the pro rata number of hours (39 %) and higher salary pro rata to the number of hours (37 %) as well as additional vacation days (37 %) are in the running. For 28 percent of respondents, tax incentives would be a reason to increase their weekly working hours. 

Respondents would also give up part of their salary for more vacation days: 30 percent would buy themselves more time off. 22 percent could imagine accepting financial sacrifices for a better work-life balance. More flexibility in working hours would also be an aspect for just under one in five (16 %). On the other hand, 30 percent would not be prepared to give up part of their salary for any reason.

Work-life balance: the majority of Swiss people are satisfied with their work-life balance

Good news: Overall, around 89 percent are very satisfied, satisfied and somewhat satisfied with their work-life balance. Only a small proportion of respondents, 11 percent in total, stated that they were rather dissatisfied, dissatisfied and very dissatisfied. A lack of flexible working hours (28 %), health problems and stress (28 %) as well as little time for hobbies and leisure activities (27 %) were cited as the biggest hurdles in terms of work-life balance. On a positive note, more than a quarter of the employees surveyed in Switzerland (27 %) do not see any obstacles to achieving a work-life balance.

"Even though the majority of respondents seem satisfied with their work-life balance, there are still challenges," says Sandra Bascha. "Companies have effective means at their disposal to mitigate the shortage of skilled workers. Incentives for overtime such as attractive remuneration and working time models with as much flexibility as possible contribute to the future viability of companies. A rethink is needed here - and better today than tomorrow."

Source: www.xing.com