Conversations in today’s labour market can have a negative tone. Hiring has slowed, unemployment levels across Europe are high, and Artificial Intelligence threatens to change the workplace. So what are the profession in the highest growing demand?
The economic situation in Europe is uncertain amid the war in Ukraine. The cost of living is skyrocketing, causing many companies to put breaks in their hiring processes. Inflation in Europe hovered around 10% at specific points during 2022, yet wages didn’t reflect the new economic conditions in much of Europe. Although wages increased in 2022, there had been a long period of wage stagnation before the increase, numbing the impact.
Still, there are positives in the labour market as well. LinkedIn Economic Graph researchers recently published a list of the 15 fastest-growing job markets in Europe. It painted a picture where opportunities for the right skills can still be found.
Sustainability to sales and business development
The European Union has set climate change as a top priority. There has been a legislative effort to ensure local governments and businesses take steps to contribute to cutting carbon emissions as part of the efforts to tackle the climate crisis. These efforts also show the most sought-after jobs in the region.
The LinkedIn survey revealed different sustainability roles to feature heavily on the ‘Jobs on the Rise’ list. These roles featured heavily on the overall list and on those for individual European countries. Sustainability jobs were among the most sought-after in France, Germany, Spain, the Netherlands, Italy, Sweden and the UK.
The top fastest-growing job in terms of demand was the position of Sustainability Manager, and this particular role was the second fastest-growing job in the UK.
Many European companies will be looking for experts with an understanding of sustainability. There is a legislative need to be more compliant with new sustainability-related regulations. But consumers are also more conscious about the services and products they use. For businesses to thrive in the future, they need to understand sustainability and ‘green’ policies.
Similarly, sales roles continue to have a high demand for new employees. In France, all the top four spots were taken by jobs in the sales sector. The most demanded job titles included Growth Marketing Manager, Sales Development Representative, Customer Success Manager, and Enterprise Account Executive. The growing demand for sales roles was also evident in Germany.
Sales workers also reached the top 3 in Cedefop’s research on future employment needs in EU27 throughout 2020-2030. Their data shows there will be some 6 million new roles for Sales workers during this time.
Sales roles are hard to automate or replace with technology. Furthermore, the increasing competition among businesses means that companies will need top talent to boost their standing in the market - whether it’s retail, hospitality, or the technology sector.
Finally, LinkedIn’s research showed business development roles to be in high demand. Roles for branding, business growth and product management grew fast in places like the UK, Spain and Germany. Again, the desire to position the business well in the competitive market is one of the reasons these roles are growing in importance across different sectors.
Technology and security roles in high-demand
The future also looks bright for professionals working in the technology and security sector. Fintech is forecast to grow in Europe in 2023. According to McKinsey reporting, the number of fintech jobs in Europe could rise by a factor of 2.7 to more than 364,000 if all countries would perform at the top level.
Job demand in the security sector is also attracting plenty of talent. Globally, 43% of organisations struggle to find top talent to fill security roles, especially in cybersecurity. Job demand can quickly increase in the coming years as cybercrime continues to plague many European companies.
Overall, McKinsey’s research on the Future of Work in Europe found that while jobs requiring basic cognitive skills are likely to decline in the coming decade, demand for workers with STEM (Science, Technology, Engineering, and Math) skills will continue to grow. Technological skills in particular areas will become increasingly essential and high-demand, meaning roles like software engineers, digital marketers, lawyers, and bio technicians could continue to grow in the coming years.
The most in-demand vocational jobs
Credit: Belga
Many of the roles attracting the most attention tend to be high-skilled jobs, and many of these roles require a university degree and a specific skill set. But there are also plenty of vocational jobs in high demand in Europe in 2023.
The European construction sector could require machine operators in the coming years. Although construction has slowed down a little due to the war in Ukraine, it could pick up in the coming years as infrastructure projects across Europe get back on track.
Other similar roles in demand include mechanics and electricians. Cedefop’s data lists these two roles as some of the fastest-growing in the region in the coming years. Their data also indicate that the next decade will require almost 5,000,000 new cleaner and helper jobs.
McKinsey’s report believes that jobs that require socioemotional skills will increase by 30%. These are roles requiring caregiving, teaching and training, and managing others. These skills aren’t easily replicated by machines, so human workers will be needed in these areas of work.
The changing landscape of work in Europe
One interesting thing to note about jobs in high demand is the nature of independent work. McKinsey’s study found that independent work may have counted for as much as 20% to 30% of all jobs before the pandemic. Independent work includes freelancers, gig economy workers and temporary staff. There has been a drive by companies to rely more on temporary staff, while at the same time a desire by workers to have more flexible work arrangements.
The job market in Europe is changing. McKinsey’s estimates suggest up to 59 million European jobs could be at risk in the short term due to the pandemic and its aftermath. Automation and the use of new technologies are likely to play a negative role. In their research, jobs in wholesale and retail, manufacturing and accommodation and food services were at the highest risk of displacement.
Yet despite these clouds on the horizon, there are bright spots in the European job market. Plenty of new roles are popping up, creating opportunities for highly-skilled employees.
