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12/06/2024 12:36

The main challenges in 2024: shortage of skilled workers and increasing competitive pressure

Dr. Jutta Gröschl Presse- und Öffentlichkeitsarbeit
Institut für Mittelstandsforschung (IfM) Bonn

    The shortage of skilled workers is still at the top of the "Future Panel for Mittelstand Enterprises" conducted by the IfM in Bonn – but this challenge is now also associated with aspects such as personnel costs and the lack of quality among applicants. In addition, there are differences depending on the size and company sector, as well as on the degree of digitisation. In second and third place come "increased competitive pressure" and "digitisation/artificial intelligence".

    The topic of "skilled employees/demographic development" remains the main challenge for all companies. But the results vary depending on the size and sector of the company and its level of digitalisation. The shortage of skilled workers is particularly significant for larger companies and those in the service sector. In the manufacturing industry, in trade and in companies that already use artificial intelligence (AI), it is seen as a challenge much less frequently. Furthermore, company managers now associate this field of action not only with the consequences of demographic change and the level of qualification of applicants, but also with rising personnel costs. This is one of the findings of the ‘Future Panel for Small and Medium-sized Enterprises 2024’ survey, in which 426 companies based in Germany took part in autumn.

    Second on the list of greatest challenges is increased competitive pressure, which is seen as a task particularly by companies in the manufacturing (38.5 %) and trade (41.3 %) sectors, as well as by small companies with up to 49 employees.

    In contrast, decision-makers in companies with 50 to 249 employees regard "digitalisation/AI" as one of their greatest future challenges. Overall, this challenge ranks third in the Future Panel for Mittelstand.

    Competitive pressure is higher in family businesses than in non-Mittelstand
    While there are no differences between SMEs and management-led company regarding the issue of " skilled employees /demographic development," increasing competitive pressure will pose a greater challenge for family businesses in the future: More than one in three Mittelstand enterpises (34%) cited this in the survey. In comparison, only about a quarter of the respondents from management-led companies identified it as a major issue. Family business leaders, in particular, view "bureaucracy" as a bigger challenge than non-SMEs.

    Regardless of whether it is a Mittelstand enterprises or a management-led company, decision-makers perceive a change in the markets: on the one hand, they see a more intense competition due to increasing competitors, which makes customer acquisition more difficult and reduces the profitability of products and services. On the other hand, however, competitors also have changed: there are more and more pure AI players or platforms.

    The current economic situation is also impacting the significance of the ecological transformation as a challenge
    For all enterprises, the field of action "climate change and sustainability" has become less important: In contrast to previous years, it is no longer one of the greatest challenges in the Future Panel for Mittelstand 2024. Companies are obviously primarily concerned with overcoming the difficult economic situation in Germany.

    The chartbook "Future Panel for Mittelstand 2024" can be downloaded on the website of the Institut für Mittelstandsforschung (www.ifm-bonn.org).


    Original publication:

    https://www.ifm-bonn.org/fileadmin/data/redaktion/publikationen/chartbooks/chart...


    More information:

    https://www.ifm-bonn.org/en/research/mittelstand-future-panel/detaile-view/zukun...


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