Randstad and SEO launch labor market study "Bridging the Gap"
The 'Lisbon employment targets' for 2010 – increased labor participation and lower unemployment levels in Europe – have not been reached. The main target, setting unemployment at an ambitious 4%, has not been achieved by any EU country. According to Randstad's new publication "Bridging the Gap", countries that have already reformed their labor markets, however, have performed substantially better than those countries still in need of restructuring. "Bridging the Gap", a study conducted by SEO Economic Research and commissioned by Randstad, looks at current and future issues in the European employment market and gives recommendations to address them.
Participation, productivity and migration "Bridging the Gap" shows that a potential employment gap of 15% by 2050 is expected, meaning that Europe will be around 35 million people short due to an aging society, compared to its labor requirements. Even if the gap can be filled in terms of quantity, a mismatch of skills is likely. The solution? A combination of increased participation, productivity and migration. In order to achieve these, businesses will need to adopt modern labor practices such as part-time work and agency work. 'Flexicurity' (striking a balance between employment flexibility and income security) is key for the future European labor market to become and remain dynamic. Employees will also need to brush up their skills to meet the demands of the employment market.
About "Bridging the Gap"
"Bridging the Gap" is a follow-up to the 2007 study "Mind the Gap", which outlined the skills shortages, aging demographic and declining population in Europe. It also follows on from the 2009 publication "Drivers of Participation", which focused on driving up employment participation among certain groups, such as older people, women returning to the labor force and the long-term unemployed.
Press Conference and available documents
Today at 12.00 CET, Randstad is hosting a press conference at its head office, Diemermere 25 in Diemen. Ben Noteboom, CEO Randstad Holding, will present the first issue of "Bridging the Gap" to Piet Hein Donner, Minister of Social Affairs and Employment in the Netherlands.
Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placement to inhouse, professionals, search & selection, and HR Solutions. Since acquiring Vedior in 2008, the Randstad Group is the second largest HR services provider in the world with top three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland and the UK, as well as major positions in Australia and the United States. End 2009 Randstad had approximately 25,500 employees working from over 4,100 branches and inhouse locations in 44 countries around the world. Randstad generated a revenue of € 12.4 billion in 2009. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see www.randstad.com
SEO Economic Research SEO Economic Research carries out independent applied economic research on behalf of the government and the private sector. The research of SEO contributes importantly to the decision making processes of its clients. SEO Economic Research is connected with the Universiteit van Amsterdam, which provides the organization with invaluable insight into the newest scientific methods. Operating on a not-for-profit basis, SEO continually invests in the intellectual capital of its staff by encouraging active career planning, publication of scientific work, and participation in scientific networks and in international conferences.