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Demand for Skilled Specialists in Iceland: Insights from EURES Mobility Conference 2008

The EURES Mobility Conference in Keflavik on May 30, 2008, highlighted the significant demand for skilled specialists in Iceland due to a 1% unemployment rate and a shortage of engineers, programmers, and financial experts. Capacent, the largest research and recruitment company in Iceland, emphasized the need for increased recruitment from outside the country, particularly as local education systems struggle to meet the rising demand. Despite recent market downturns, interest in expatriate hiring remains strong. The conference aimed to bridge this gap and promote new avenues for international talent recruitment.

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Demand for Skilled Specialists in Iceland: Insights from EURES Mobility Conference 2008

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  1. The Demand for Specialists in Iceland EURES IS Mobility Conference, Keflavik, May 30th 2008

  2. Capacent Iceland today • CapabilityCenter – • The largest research-, consulting- and recruitment company in Iceland • 130 employees • 50% women • Varied educational background: • Engineering, Psychology, Methodology and Statistics, Business, Anthropology, Economics, Pedagogy, Public Administration, Literature, Politics, Computer engineering, Management, Behavioural science, Media studies, Geology etc…

  3. Capacent Ráðningar (Search and Selection) • The largest specialist and executive recruitment company in Iceland • Capacent Search and Selection specialize in specialist and managerial recruitments utilizing the best methods available. • Job analysis, Search and selection, Pre-screen interviews, background checks, personality and ability tests, etc. • Ensuring the right specialist with the right background and right skill set for each position • Large Icelandic proprietary recruitment database

  4. Shortage of specialists • >1% unemployment rates • Excess demand for skilled engineers, programmers, system administrators and skilled financial specialists. • Icelandic educational system is not managing to keep up with this demand even though the number of university graduates has increased dramatically. • If things keep on progressing along the projected lines, in the coming years, we only see an increase in this excess demand and the only way to meet this excess demand is to dramatically increase the number of recruitments from outside of Iceland.

  5. Gallup market research • In October and November 2007 Capacent Research (Gallup) did a market research for Capacent Search and Selection to gauge the demand for expatriate recruitments. • 500 managers in companies spanning the whole employment sector were asked various questions to gauge their interest in expatriate recruitments.

  6. How likely or unlikely is your company to hire a foreign specialist with the right education or experience?

  7. Which educational background do you think a foraign employee would have to have?

  8. What has Capacent Search and Selection done • Cooperation with EURES IS to open avenues to reach prospective candidates in EEA area • Official system for expatriate recruitments and encouraged expatriates to apply and register • Promoted the service to Icelandic companies • Acquired a recruitment company in Denmark, Capacent IKU (Institut for Karrierudvikling).

  9. The obstacles on the way • Scepticism and reluctance • Shortage of specialists in demand in the entire EEA area • Inhibitory regulations regarding work permit for non-EEA area nationals • The market downturn following the sub-prime crisis

  10. Hopes for the future Despite the short term downturn in the market the demand for highly skilled specialists isn’t going anywhere • Easing scepticism through a marketing effort • Easing of inhibitory regulations regarding non-EEA specialist recruitments • EEA wide blue card program • A single EEA wide EURES recruitment database

  11. Any Questions ? For firther information contact Sigurður Jónas Eysteinssonsigurdur.eysteinsson@capacent.is

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