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Germany
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Germany
Germany, with a GDP of $4.46 trillion, ranks as the 3rd largest economy globally. Top industries include vehicles, machinery, and chemicals. With a population of 83 million and a 3.0% unemployment rate, Germany's well-balanced labor market suggests stability despite demographic challenges. The country has numerous specialized recruitment agencies.
Germany'S
AGENCY LANDSCAPE
11K
Agencies operating in Germany
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
18-24%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Germany'S
FEATURED AGENCIES
Connect-IT Recruitment
Manpower Group
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Germany'S
GROSS DOMESTIC PRODUCT (GDP) RATING
3
WORLD RANKED
Germany ranks 3rd in the world by current economic output
$4.5T
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
1
EMEA RANKED
Germany is the 1st biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Germany's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Germany'S
CURRENCY AND CODE
€
Country currency
DEU
Country ISO code
Germany'S
INFLATION RATE
2.4%
CURRENT RATE
▼3.6% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Germany'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Germany'S
LABOUR STATISTICS
83M
POPULATION
With a population of 83,237,124, Germany is a medium sized country by global standards. Germany's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Germany is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Germany's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Germany'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Germany'S
UNEMPLOYMENT RATE
3.0%
CURRENT PERCENTAGE
▼0.09% REDUCTION
Germany's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
Germany'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
Volkswagen
Siemens
Deutsche Telekom
Top industries
Automobiles
Machinery
Chemicals
Germany'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
67
/
56
Male | Female
In Germany there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Germany'S
WORKING LIFE
$48K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$4K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Germany'S
WORKING LIFE
10DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard work hours are 8 per day, 40 per week, with a Monday-Friday workweek. Overtime is voluntary and may be paid or compensated with time off; max 2 hours daily and 12 weekly, at regular pay. Notice of 4 days is required for planned overtime.
Germany'S
TOP BENEFITS
14WEEKS
Maternity leave
Germany offers 14 weeks maternity leave with full pay, refunded by health insurance. Parental leave is up to 3 years with benefits scaled by income, but no specific paternity leave law.
unlimited
Sick leave
In Germany, employees get unlimited paid sick leave with 100% salary paid by the employer for the first 6 weeks, then by health insurance. A sick note is required. After 4 weeks of employment, employer-paid sick leave kicks in; prior to that, health insurance covers. Parents get 30 days for a sick child.
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