Luxembourg labour market trends
The Luxembourg labour market continues to be strongly candidate-focused, which means companies are going the extra mile to attract and retain talented employees. A good approach is to combine a competitive salary with interesting fringe benefits.
High salaries and bonuses to retain staff
see an increase in the number of counteroffers an organisation has had to make to retain staff.
see an increase in the number of counteroffers that are accepted by employees.
give sign-on bonuses to attract personnel.
Choosing flexibility over tax advantages
Offering remote/flexible work is the most common retention strategy.
Poor work/life balance is a big concern in attracting new talent.
Attracting demanding candidates
- Candidates on the Luxembourg labour market are more and more demanding and don't shy away from rejecting a proposal in the final stages of the recruitment process.
- Companies try to make a difference to increase their chances of attracting strong profiles by:
- Revisiting job titles and vacancies: Making sure that both are attractive and tailored to the targeted candidates.
- Teaming up with recruiters/an agency that not only supports them with the actual recruiting, but also takes on an advisory role in the process of finding new employees.
- Acting quickly and efficiently: Being responsive and enable a smooth recruitment process is a great way to avoid losing talent due to inefficiencies
A clear company culture is key
- Diversity and sustainability have a more important role in society than ever before. This growing importance also translates into candidates' interest in the company culture.
- Having a clear view on diversity and ecology and communicating it to new and existing employees is a growing focus for many organisations.
Taking action to increase diversity in the workplace
Offer training for employees to reduce unconscious bias27%
Amend hiring processes25%
Hire new HR or support staff to help with DEI25%