The talent shortage continues to plague key sectors of the Greek economy, both for skilled and unskilled labor. From construction and logistics to hospitality and food service, major gaps remain, undermining business growth prospects.
Top business executives consistently highlight the issue, warning that it is severely impacting the implementation of investment plans.
The problem is especially acute in the construction sector, which is currently experiencing a revival reminiscent of 2004, with a series of major infrastructure and redevelopment projects underway. Yet, the lack of workers has become a serious bottleneck.
Tax Incentives Needed
Recent comments from the head of Lamda Development, which is responsible for the largest development project in all of Europe called the Hellinikon project, underscored labor shortages as one of the biggest challenges facing the massive Hellinikon project.
Similarly, construction company Aktor Group President and CEO Alexandros Exarchou stressed the magnitude of the problem, emphasizing the need for both incentives and better wages to encourage workers who left during the crisis to return to Greece.
He noted that in construction, employing skilled personnel is essential for the completion of large-scale projects.
The AVAX Group leadership echoed this stance. Chairman Christos Ioannou and Executive Director Antonis Mitzalis pointed to the importance of offering tax incentives to bring back Greeks who moved abroad and to attract new talent into the sector.
An Achilles’ Heel
Severe shortages are also evident in the logistics sector—another booming industry with multimillion-euro projects underway, notably the emblematic Thriasio I.
According to industry insiders, the problem is especially pronounced in Aspropyrgos, where it’s extremely difficult to persuade workers to take jobs. Even general laborers are hesitant, citing low wages that many business owners themselves admit are not attractive.
The “Talent War”
Still, some companies are sparing no expense to attract skilled workers, banking on the added value such talent brings.
The food service industry is a striking example, offering competitive daily wages to new hires.
According to sector experts, wages have risen by 60% to 70% in just three years, largely due to restaurant owners’ desperate efforts to fill vacancies. The bidding war is ongoing. “The greatest risk today is human capital. We have so many projects ahead of us, we need even more workers,” said a sector representative.
Talent War in the Pharmaceutical Industry
The Greek pharmaceutical sector is also engaged in a fierce battle to retain and attract employees. Talented workers are in high demand, and companies are willing to go the extra mile—within their means—to get them on board.
This applies across all levels and roles, whether skilled or unskilled. But the most intense competition is for scientific staff in research and development—an area critical to pharmaceutical firms. “The greatest risk today is human capital. We have so many projects ahead that we need even more employees,” said Lavipharm CEO Vasilis Baloumis during a recent presentation to the Hellenic Fund and Asset Management Association.
8 out of 10 Companies Can’t Find Staff
A recent ManpowerGroup survey highlights the scale of the crisis. Out of 525 Greek employers surveyed, 80% reported difficulties filling vacancies, with slight variations by region and company size.
Small businesses reported the greatest difficulty (84%), while large companies reported slightly less (77%).
The most affected sectors were communications (89%), energy (86%), and finance (86%). In contrast, shortages in industry and construction were reported at around 80%.
Source: Tovima.com
