Workforce in Switzerland
Workforce in SwitzerlandUpdated on Thursday 29th July 2021
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The Swiss labor force
The Swiss educational system provides a highly specialized workforce, which is one of the reasons the country has a good reputation when it comes to foreign investors coming here. Even if Swiss companies pay higher wages than other European countries, the overall labor costs are usually lower compared to other countries. The two factors contributing to the excellency of the Swiss workforce are the moderate salary taxes and insurance premiums and the high productivity. The Swiss employment legislation also contributes to the success the workforce registers because of the flexibility it offers.
The qualities of the Swiss workforce
The Swiss economy relies on the services and the industry sectors. Swiss financial services are known all over the world, which is why the most of the country’s workforce specializes in this area. Swiss employees are usually multilingual and flexible and work longer hours than in other European countries. However, according to many surveys the Swiss workforce is the most motivated in the world. The labor force in Switzerland is described as:
- - hard-working,
- - highly qualified, approximately 90% of the population finishing a secondary school,
- - approximately 40% of the Swiss workforce is bilingual, English and German being the most spoken languages,
- - a Swiss employee usually works around 1,800 hours per year.
For information about the Employment Law you can rely on our lawyers in Switzerland
Working in Switzerland
The high number of foreign investors coming to open companies in Switzerland every year also attracts a large number of individuals seeking employment here. However, Swiss companies will only hire highly educated specialists who also have to meet other requirements. This is also one of the main reasons the workforce in Switzerland is so appreciated. Foreign citizens coming to work here must first apply for a Swiss residence permit which also grants them the right to work in the country. Swiss companies are also required to conduct thorough searches before hiring foreign workers.
For information about the most prosperous cantons and workforce available you can ask our Swiss attorneys. You can also contact us if you want to open a company in Switzerland.
Our team can also help you open a Swiss bannk account for your new company.