Shortages of skilled labor are a growing concern for foreign companies

Shortages of skilled labor are a growing concern for foreign companies, executives said at the investment conference. “German companies come and recruit workers from my company to work in Germany,” complained Lier, who heads BASF operations in Ukraine. “There is not enough talent in Germany…the amount of GDP this country loses is significant. We need these people here.” Barrier said French companies are trying such worker retention incentives as working at home one day a week, a free afternoon off in the week. Herbert Stepic, former president of Bank Aval, cited a worldwide survey of CEO worries that showed that ‘Cost of Labor’ had jumped jumped from 12th place to 3rd. Alfred F. Praus, chair of the Austrian Association said: “Availability of labor force may be the bottleneck in the future of Ukraine.”