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Everything is getting expensive: electricity, rent, food, mobility. But so far, not all of Switzerland has achieved a wage increase that will offset, or at least weaken, inflation. How to compensate for the loss of purchasing power?
Do Swiss people now have to work harder to pay their bills or maintain their standard of living?
More than half of Swiss have two jobs or want to work
This seems to bring to mind the “Candidate Pulse” 2023 study by HR consultancy Michael Page, published Wednesday. According to this, 15 percent of job seekers in Switzerland already have a second job. 38 percent consider this step. Especially the last figure is intriguing.
It is possible to see the connection with the price pressure in the figures. 63% of respondents do not expect their current salaries to meet inflation in the next 12 months. Overall, only 24 percent of Swiss job seekers received a pay rise to offset inflation in the past two years.
This causes fluctuations in the labor market. Two-thirds (66 percent) of Swiss respondents will change jobs immediately if higher salaries are expected. As many as 40 percent of the respondents clearly intensified their job search due to inflation pressure.
Basically, you can pursue one or more second jobs. But there are clear rules for this. Labor law regulations must be complied with “cumulatively”. For example, the maximum working time per day (9 hours) and weekly (45-50 hours depending on the job) cannot be exceeded. Rest time regulations must be followed regardless of the job. There are also special provisions. Details are available from the Secretary of State for Economic Affairs (Seco). Responsibility for compliance rests with employers.
Employees also have responsibilities. If you want to be self-employed, you must obtain the employer’s consent if the employment contract specifies the obligation to report. The employer should not compete with the part-time job and one’s own performance ability should be maintained.
Basically, you can pursue one or more second jobs. But there are clear rules for this. Labor law regulations must be complied with “cumulatively”. For example, the maximum working time per day (9 hours) and weekly (45-50 hours depending on the job) cannot be exceeded. Rest time regulations must be followed regardless of the job. There are also special provisions. Details are available from the Secretary of State for Economic Affairs (Seco). Responsibility for compliance rests with employers.
Employees also have responsibilities. If you want to be self-employed, you must obtain the employer’s consent if the employment contract specifies the obligation to report. The employer should not compete with the part-time job and one’s own performance ability should be maintained.
The degree of employment of the respondents was not recorded. But the question about additional work is that those who can’t complete 40 or 60 percent of the workload, or who aren’t likely to get a better paycheck in a 100 percent job, will progressively increase their wages in a part-time job if possible, and may be allowed.
It’s time to come to the lowest wages
A larger study by consulting firm PWC, called “Employee Hopes and Fears,” came to a similar conclusion. Looking at employees in Switzerland, they concluded that one in four employees in Switzerland already have one or more part-time jobs. And only 38 percent of Swiss have something left to save at the end of the month. The figures are largely consistent with those from the Page study.
PWC suggests that Swiss workers are less willing to acquire new skills or develop existing skills than workers in other countries. This will be necessary to keep up with the changes in the business world.
As Page’s study shows, the main driver of wage growth in Switzerland was performance related in more than half of the cases. But employers need to create opportunities for this. Or, employees must be able to afford the cost of training and further education. Page Group Switzerland Director Yannick Coulange thinks action is needed for low-wage workers: “They are the ones most affected by inflation, but it’s also a clear sign of corporate culture.” Companies should use pay increases to signal that they understand and respond to their employees’ needs.
What about inflation?
Claudia Bolliger, 35, CEO of the Zurich employment agency Lionstep, confirms the trend towards part-time jobs: “The possibilities for this have increased significantly thanks to new online agencies such as flexible economy platforms such as Fiverr or Upwork, and better home work opportunity.” But he sees a link with inflation only in a few cases: “As a rule, it is about self-actualization or obtaining an additional income that will increase one’s salary, but this is not necessary for subsistence.”
The trend towards more additional employment is also seen among workers of all workloads, namely full-time and part-time workers.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
