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Labour shortages and supply chain issues hampering economic recovery

The present turnover of Belgian companies has now exceeded pre-pandemic levels, but businesses are facing labour shortages and supply chain problems, two issues that are putting a brake on the economic recovery.

A survey conducted by Nationale Bank among over 2,000 entrepreneurs shows over half of all businesses struggling to recruit staff.  Their solution is to offer employees flexible working conditions and higher pay.

Geert Langenus of Belgium’s central bank: “We see companies adopting different strategies to keep existing staff or attract new staff e.g. by recruiting outside the usual geographical area.  But this is striking, we are also noticing more and more pressure to offer higher wages: existing staff are offered better wages, new staff are offered better conditions including a higher remuneration, especially in Flanders where unemployment levels are particularly low”.

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