European SMEs Face Growth Hurdle Due to Escalating Skills Gap

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Europe's smaller enterprises are currently navigating through turbulent waters as they face a significant skills gap. This challenge is compelling businesses to seek talent beyond their borders and adopt innovative measures to combat the resulting internal strain.

A staggering 68% of SMEs across the continent are experiencing difficulties in attracting individuals with the exact skill sets necessary for their prosperity. This deficit has led to an escalation in workload for existing team members, as identified in a comprehensive Eurobarometer analysis.

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The investigation leveraged insights from small and medium enterprises, augmenting the data with feedback from more substantial entities exceeding 250 employees. The research canvassed perspectives across a blend of EU and non-EU countries, including global players such as the USA and Japan, with the process conducted between September and October.

Delving Into the Workload Conundrum

At the heart of this issue, approximately 48% of surveyed businesses pointed to increased workloads as a pivotal consequence of the skill shortage. This trend was more pronounced in medium-sized firms, where 55% echoed this sentiment.

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This pattern held true across the vast majority of Member States, with variations observed from as low as 13% in Lithuania to a pronounced 60% in Belgium. Beyond the spike in workload, the ripple effects extend to dips in profitability, growth, productivity, and R&D, alongside emerging quality issues.

Ireland reflects similar trends, with 32% of Irish business owners acknowledging immense difficulty in securing proficient staff over the past two years. This aligns closely with the EU27 average standing at 38%.

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Pioneering Beyond National Borders

Irish companies are particularly proactive in addressing these obstacles, with a notable number turning to international talent pools. A fifth of Irish respondents have explored hiring from within the EU, and another 20% have expanded their search globally—a noticeable uptick from the EU27 average.

The Upskilling Solution

In a bid to refine the talent landscape, Irish SME leaders are advocating for robust upskilling initiatives. Programs such as Enterprise Nation’s Go and Grow Online are prime examples, offering key digital competencies in cybersecurity, marketing, and cloud solutions to support up to 20,000 Irish SMEs.

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