In the industrial sector, access to housing has become a critical yet often underestimated factor in talent acquisition.
As consultants specializing in the industrial sector, we frequently encounter what is commonly referred to as the "last mile": attracting qualified talent is just the first step. The real challenge arises when these professionals face barriers like high living costs, especially in cities or regions where our clients operate. This challenge is particularly evident in areas with soaring rental prices, which limit mobility and hinder the recruitment of valuable profiles in key sectors.
The reality of housing costs for young professionals in Spain
The data highlights the severity of the issue. In many regions of Spain, the average rent far exceeds the earnings of young professionals, making independence difficult and limiting job opportunities. According to the latest report from the Emancipation Observatory, young people would need to allocate 92.1% of their net salary to rent, and in regions like the Balearic Islands, Canary Islands, or Catalonia, this percentage can exceed 100%. This imbalance makes geographic mobility nearly impossible for many professionals seeking opportunities in industrial companies.
How does this affect companies' competitiveness?
In the industrial sector—our area of expertise—this imbalance directly impacts competitiveness and the ability to attract talent. Having skilled professionals willing to relocate is essential for the growth and operations of these companies. However, the inability to access affordable housing delays recruitment processes, extends hiring timelines, and affects team performance.
Effects of limited housing access on companies:
- Longer onboarding times: Qualified professionals are unable to commit to relocation when housing costs are prohibitive.
- Reduced competitiveness: Without the right talent, companies face limitations in competing within their sector.
- Lower effectiveness in talent acquisition: The lack of mobility prevents companies from finding candidates with the necessary experience and skills.
What can companies do to address this issue?
While the housing crisis is a complex problem beyond the direct control of companies, in a market where qualified talent is increasingly scarce, organizations must consider ways to reduce this barrier. Addressing this challenge not only improves employees’ quality of life but also enhances the company's sustainability and competitiveness.
Actions companies can take to help:
- Offer cost-of-living adjustments: Consider housing subsidies or relocation bonuses for employees moving to high-cost areas.
- Promote remote work and flexibility: Allow professionals to work remotely when possible, reducing the need for relocation.
- Partner with housing services: Collaborate with temporary housing networks to facilitate employees’ initial relocation process.
Servitalent: Supporting talent acquisition in the industrial sector
At Servitalent, we understand the importance of overcoming barriers to talent acquisition in the industrial sector. Our team specializes in Talent Search services for the recruitment of qualified profiles, ensuring that each hiring process drives growth not only for companies but also for professionals.
With our expertise, we identify and help address challenges like housing access, ensuring effective recruitment and successful onboarding. For industrial companies seeking talent and facing these obstacles, Servitalent is here to help.
We believe the key lies in adapting hiring processes to the current realities of the labor market, supporting our clients at every stage of the recruitment process.
Is your company ready to overcome talent access barriers in an increasingly competitive market?
