Doing business in Zurich: Trends to watch out for

Posting date: 28 February 2019

Doing business in Zurich: Trends to watch out for

Since being named as the world’s most sustainable city in 2016, Zurich hasn’t rested on its laurels, continuing to flourish as a place to both live and work. The social, environmental, and economic factors that led to the award are things that the city has long been revered for, but it’s not something that’s happened by accident.

With a desire to maintain its reputation as a “centre of economic life and education” (a line coined by the official tourist site myswitzerland.com), investment in Zurich’s local infrastructure continues at pace, while being conscious of its environmental impact; the city is one of the lowest generators of emissions and consumers of water in Europe.


Why Zurich attracts businesses and people

While it’s regularly ranked as the second-most competitive financial centre in Europe behind London, uncertainties around the future of the UK could well play into Zurich’s hands.

Already home to 10 of the world’s largest financial firms, the engineering hubs of tech giants and a giant data centre industry, a local startup scene has emerged attracting talent from amongst the 60,000 students who call the city home.

While some will naturally be keen to move into an established household name business when they come out of education, the chance to be a part of something new and exciting is just as attractive to the modern workforce.

Zurich offers the best of both worlds.

Zurich’s low rate of 3.0% unemployment is on a par with the national average, below that of Basel (3.6%) and Geneva (4.9%) and far better than the European average of 6.8%. The business setup is there to cope, no matter how many people want to call the city home!


Sensible city planning

Of the 425k people who currently call Zurich home, 68% of them are of working age. That’s 2% above the national average in Switzerland and 3% above European averages.

Those may sound like small margins, but in a city that’s seen annual population increases of 1.8% over the past decade, it may look from the outside to be a growing city with limited space to expand.

In other regions that could create some serious logistical nightmare — over-urbanisation has a habit of pushing the cost of living way up — however, Zurich isn’t just any other city.

The planning department at the City of Zurich recognised this trend well before it became a problem, implementing an active policy to make better use of abandoned industrial sites to provide affordable studio spaces and rehearsal rooms.

This has seen great redevelopment in Zurich-West, where the former derelict buildings are becoming lively spaces full of contemporary art. Refurbished shipping containers have become pop-up retail spaces and dingy back streets and railway arches now house some of the most desirable restaurants and cafes in the city.


Providing a launchpad

While Zurich is home to many large corporate financial services organisations, such as UBS, Credit Suisse, Swiss Re and Zurich Insurance, it’s increasingly becoming known for its positive startup environment.

Areas like Kreis 5 provide the perfect spot for coworking, and the many meetups, tech conferences and incubator schemes have helped fuel the thriving startup scene.

With the close proximity to those making financial decisions, some for these companies can be expected to break out of startup mode in the coming years. Exactly who it will be is a matter for debate, but there are some strong contenders.

Of course, the apple doesn’t fall too far from the tree, and within the financial sector companies such as Advanon and Wefox are attempting to challenge the traditional norms of the industry.

The medical folk are arguably even more active when it comes to innovation, with Ava becoming a vital service for women across the world, and Versantis, Xeltis and Cutiss showing strength in the pharma and medical devices field.

Whether it’s Selfnation in fashion, ComfyLight in home security, Nezasa in travel or Beekeeper in employee communication, every corner of the city has a potential ‘next big thing’ on its hands. For any company considering where to base their HQ, Zurich surely must close to the top of the list.


Make your business move with Swisslinx

As a specialist recruitment company providing talent solutions across Switzerland and internationally, we’re proud to stay ahead of the curve when it comes to technology and recruitment trends. With a Zurich base, we are active partners to new startups and larger organisations emerging in the city, and have a thriving network of skilled, vetted candidates ready to make their mark in this market. Find out more about what we offer here.

What does the future of recruitment look like?

The world of recruitment is constantly evolving and digitisation has completely transformed a wide range of sectors. With the emergence of new skills, tools and software, organisations in Switzerland will need to implement expert recruitment strategies to secure the best talent. Switzerland has enjoyed a strong economy in recent years and statistics have shown that the unemployment rate amounted to around 3.5% in 2020. However, the way businesses recruit and retain talent will continue to shape the workforce – and while it’s difficult to predict outright what the future holds for recruitment, businesses will need to adapt to the demands of a new age of technology. And since the recruitment market is becoming increasingly competitive, recruiters are going to need plan in advance to keep up with the most in-demand talent. So, here’s an overview of how recruiting will grow and change in the future.   Focus on machine learning   Machine learning and automation will likely have a huge impact on onboarding and recruitment. AI is rapidly changing every industry and its effect on recruitment is already being felt in a multitude of ways. For example, HR automation tools have accelerated in recent years. These tools can collect, gather and analyse data, which means recruiters can easily build candidate profiles and establish a clearer picture of potential hires much more quickly. In the future, there’s no question that automation tools will be used even more frequently. One of the biggest challenges for recruiters is finding the right professionals amid the noise. Therefore, it’s likely that companies will use more machine learning and automated software to help secure the best candidates, increasing efficiency and productivity as a result.   Personalised recruitment   Today, most candidates are much informed about the type of company they want to work for. In this context, recruiters need to build an engaging and efficient hiring process, because the new generation of candidates takes a much more personalised and strategic approach to their career. Therefore, in the future, businesses won’t be able to rely on job postings or sending generic templated messages to candidates on LinkedIn. With candidates today being much concerned with an employer’s brand, the future of recruitment will be much personalised. This means that during the recruitment process, businesses will need to give candidates regular feedback and updates. In this candidate-driven market, transparency and a personalised hiring process will be of strong value in the future.   New talent pools   Recruiters of the future should begin to explore new talent pools, which include candidates with varied roles and professionals from the gig economy. In the modern world of work, employees change jobs more regularly, opting for a varied career path and different workplace cultures. The benefits of hiring these types of candidates are that they’re often exceptionally well-rounded and highly adaptable. With the rise of remote working as a result of the pandemic, hiring contractors for short projects has become much more commonplace. There will be more opportunities for businesses to hire freelance workers as full-time employees, tapping into unique skills. Recruiters of the future will likely have access to an array of talent pools with candidates from a diverse range of backgrounds.   Get in touch with our team at Swisslinx   The future of recruitment looks bright, but is your business ready to adapt to the changes? At Swisslinx, we have a dedicated and friendly team of recruitment specialists. Our team has an outstanding track record of building quality relationships with clients and candidates. We constantly keep up-to-date with the latest trends in our specialist markets, including digital and technology, financial services and life sciences. If you would like to learn more about how we can help prepare your recruitment strategy for the future, please contact us today for more information.

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How a recruitment consultancy can add value in a new world

How a recruitment consultancy can add value in a new world The COVID-19 pandemic has completely changed how companies attract, recruit and retain new employees. Businesses around the globe have swiftly embraced remote working. While there are huge benefits of in-person meetings, it’s difficult to ignore that many businesses have thrived working remote. For recruitment consultancies in Switzerland, they’ve had to adapt to a new way of hiring. The recruitment industry has entered a new era defined by flexibility and the increasing use of technology. In a post-COVID world, recruitment consultants will be high in demand for their expertise, but the landscape has changed, paving the way for a range of challenges. So, how can recruiters continue to add value to clients and candidates? Dedicated, relevant expertise One of the major benefits of using a recruitment consultancy is that they provide staffing solutions for businesses across a range of different sectors, and they remain up-to-date with market trends, which includes recruiting during this challenging time. For example, at Swisslinx, we’re able to give our clients an overview of the market, helping them to plan their recruiting and ensure they only hire the best candidates. Right now, it’s all the more important that job specifications are in line with the market. Recruiters can provide consultancy around job specs, offer sector expertise and engage passive talent using platforms like LinkedIn. With businesses receiving a strong push into the world of virtual working, recruiters have been forced to provide their expertise virtually. This means recruitment consultancies, like Swisslinx, have been able to connect with people more efficiently and build strong and lasting relationships. Streamlined process There’s no doubt that COVID-19 has accelerated the rise of technology. With in-person contact limited, businesses will need to become more agile and innovate fast, to thrive in this competitive environment. However, the recruitment process can still be a long and daunting task for many businesses, despite the new tools available. One of the most desirable attributes of a recruitment consultancy is they can streamline the whole process, from CVs and interviews to talent community building. While the lack of in-person meetings with clients and candidates can be a challenge, video interviews can take place anywhere. In the future, there’s likely to be advanced recruitment tools to facilitate virtual meetings, so that all the information can be stored and analysed in one place. Hiring in a new world The current uncertainty around the employment landscape means that businesses will need to adopt a strategic mindset to attract the right type of candidates. One of the ways recruitment consultancies can add value in this area is by helping companies make their hiring much more targeted. Recruiting in a particular niche area has become essential in recent years, but with more candidates on the market, it’s much harder to find suitable candidates. At Swisslinx, we focus on recruitment markets such as financial services, technology, science and engineering across many sectors, which enables us to provide tailored solutions to our clients. There’s no doubt the future of recruitment will be more personalised and holistic and tailored to the specific needs of clients. Let Swisslinx help your business The pandemic has had a huge impact on the recruitment sector. At Swisslinx, we’ve always had a strong value proposition and an excellent track record of building excellent relationships with clients and candidates. As we progress through the year, our consultants will remain on hand to provide companies in Switzerland with the best recruitment expertise. Our team have years of experience in recruiting the most in-demand companies and we always take the time to understand the needs of every business. Contact us today if you need help finding the top candidates and take a further look at our insights page for more engaging articles.

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