Finnish startups fear job creation

Finnish startups fear job creation

The startup barometer was released by the Finnish Startup Community FSC for the first time. The purpose of the quarterly publication is to map the views of companies and investors in the startup ecosystem on their own and the surrounding economic situation.

Finnish startups have strong trust in their own growth potential, according to the barometer. There is no such confidence in the surrounding economic situation.

The deterioration of the security situation in Finland's immediate environment caused by Russia is also a concern for the companies. In the past few years, those who responded to the Finnish Startup Barometer have increased their staff. The majority of companies believe that they will increase their headcount in the near future. There are indications from other statistics that the lack of a skilled workforce is an obstacle to growth. As many as 56 percent of respondents said there was a shortage of skilled labor as a barrier to growth or at least slowing it down. It is in our nation's interest that the solution to the talent shortage is tackled with strong measures. In the future, Finland s new high-productivity jobs will be created by startups, according to FSC economist Youssef Zad.

The competition for experts in the market is fierce and the attraction of experts must be based on a variety of means, says Mikael Thuneberg, CEO and founder of Supermetrics. For example, we look at the salaries of our employees on a quarterly basis instead of annual salary rounds, which allows us to react quickly to changes in the market situation. The fruits of the growth will be enjoyed by all of our employees through our stock option program, according to Thuneberg. In addition to salary and various benefits, Supermetrics' strong and diverse organizational culture adds to its attractiveness. While our growth has been rapid, the constant challenge we have faced since the beginning of Huuva is finding the right talent, says Ville Lepp, CEO and co-founder of Huuva. We are looking out for technical people, but also for people skilled in international growth and kitchen operations, from line cooks to expansion managers. According to FSC economist Youssef Zad, startups coordinate labor market demand and supply, and are probably the first employer ever to offer signing bonuses for kitchen staff, besides having competitive salaries. If there is a shortage of labor, the price of labor must find a new balance. The recent labor market disputes in Finland, Zad ponders Huuva's approach to skills shortages.