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Switzerland
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Switzerland
Switzerland, with a GDP of $884.9 billion, stands as the 20th largest economy globally. Key industries include machinery, chemicals, and banking. With a moderate unemployment rate of 4.0%, the labor market remains stable. The nation has a medium number of recruitment agencies, balancing quality with specialized industry demands amidst evolving workforce demographics.
Switzerland'S
AGENCY LANDSCAPE
2.1K
Agencies operating in Switzerland
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
16-22%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Switzerland'S
FEATURED AGENCIES
CBS Partners
Randstad
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Switzerland'S
GROSS DOMESTIC PRODUCT (GDP) RATING
20
WORLD RANKED
Switzerland ranks 20th in the world by current economic output
$885B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
10
EMEA RANKED
Switzerland is the 10th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Switzerland'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.
Switzerland'S
CURRENCY AND CODE
CHF
Country currency
CHE
Country ISO code
Switzerland'S
INFLATION RATE
1.5%
CURRENT RATE
▼0.6% 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.
Switzerland'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.
Switzerland'S
LABOUR STATISTICS
8.7M
POPULATION
With a population of 8,738,791, Switzerland is a small sized country by global standards. Switzerland's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Switzerland is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Switzerland's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Switzerland'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.
Switzerland'S
UNEMPLOYMENT RATE
4.0%
CURRENT PERCENTAGE
▼0.25% REDUCTION
Switzerland'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
Switzerland'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
Nestle
Glencore
UBS
Top industries
Banking
Pharmaceuticals
Chemicals
Switzerland'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
72
/
61
Male | Female
In Switzerland there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Switzerland'S
WORKING LIFE
$97K
Average gross annual wage (US$)
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.
$8.1K
Average gross monthly wage (US$)
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.
Switzerland'S
WORKING LIFE
9DAYS
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 typically 8 per day, 40 per week. Overtime is not always mandatory and can be part of salary by contract. Employees can work 45-50 extra hours with possible 125% pay for industrial, office, technical, and sales staff up to 45 hours; other sectors up to 50 hours.
Switzerland'S
TOP BENEFITS
14WEEKS
Maternity leave
Switzerland offers 14 weeks maternity leave at 80% pay, paternity leave for 10 days at 80% pay, both with salary capped at CHF 196/day. No specific parental leave law. Deel EOR provides full salary.
730DAYS
Sick leave
In Switzerland, employees have up to 730 days of paid sick leave within 900 days. With daily benefit insurance, employers cover 100% salary for 0-30 days, then 20% with insurance covering 80% up to 730 days. Without insurance, the entitlement varies from 3 weeks to 4 months based on job duration.
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