{"id":44602,"date":"2022-06-02T09:01:15","date_gmt":"2022-06-02T07:01:15","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/german-mittelstand-leaders-skilfully-navigate-global-issues-supply-chain-challenges-and-ongoing-labour-shortages-second-annual-j-p-morgan-survey-finds\/"},"modified":"2022-06-02T09:01:15","modified_gmt":"2022-06-02T07:01:15","slug":"german-mittelstand-leaders-skilfully-navigate-global-issues-supply-chain-challenges-and-ongoing-labour-shortages-second-annual-j-p-morgan-survey-finds","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/german-mittelstand-leaders-skilfully-navigate-global-issues-supply-chain-challenges-and-ongoing-labour-shortages-second-annual-j-p-morgan-survey-finds\/","title":{"rendered":"German Mittelstand Leaders Skilfully Navigate Global Issues, Supply Chain Challenges and Ongoing Labour Shortages, Second Annual J.P. Morgan Survey Finds"},"content":{"rendered":"
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\nMittelstand companies face inevitable uncertainty, business challenges and rising geopolitical tensions head-on in the year ahead<\/i>\n<\/p>\n

FRANKFURT, Germany–(BUSINESS WIRE)–Nearly all (95%) German Mittelstand leaders expect business repercussions from the war in Ukraine for at least six months, up 14% from March, citing higher energy prices (50%), commodity prices (47%) and inflation (38%) as the top impacts, according to J.P. Morgan\u2019s second annual German Business Leaders Outlook<\/a> survey released today.\n<\/p>\n

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\n\u201cUnsurprisingly, business leaders expect impacts from the war, but we believe Mittelstand companies are resilient and have the platform to grow their businesses as they overcome obstacles and navigate significant uncertainties,\u201d said Bernhard Brinker, Head of Commercial Banking, J.P. Morgan DACH Region.\n<\/p>\n

\nJ.P. Morgan found that the Mittelstand community has notable concerns to navigate in the year ahead after surveying more than 240 senior executives of German Mittelstand companies in both March and May in response to changing geopolitical and macro-economic events. In fact, nearly six in ten (58%) Mittelstand leaders cite higher and rising costs as the number one challenge they\u2019re facing right now. And with rising energy prices cited as a top concern for the year ahead (25%) and a top impact from the war (50%), it comes to no surprise that when asked which areas the German government should focus on over the next 12 months, more than half (54%) rated reducing energy prices, followed by general infrastructure investments (39%).\n<\/p>\n

\n\u201cWhile the business environment may be uncertain for the foreseeable future, we know and continue to see that the Mittelstand community is strong and will keep pushing their businesses forward,\u201d said Stefan Povaly, Head of J.P. Morgan Germany.\n<\/p>\n

\nNavigating Shifting Business Concerns, Seeking Growth<\/b>\n<\/p>\n

\nOngoing supply chain issues (14%) were cited as another challenge for Mittelstand leaders, and as a result, German companies are likely to increase their prices for goods and services (39%) according to the most recent data in the year ahead. Additional top business challenges for Mittelstand companies include higher costs of doing business (22%) and inflation (16%).\n<\/p>\n

\nIn the face of these challenges, Mittelstand leaders continue to believe they\u2019ll be able to navigate the environment and are increasingly looking for opportunities to grow in the year ahead. In fact, eight in ten (83%) Mittelstand leaders anticipate growth in the year ahead, up 14% from March, especially when it comes to revenue\/sales (78%) and profits (70%).\n<\/p>\n

\nGetting Creative to Tackle the Labour Shortage<\/b>\n<\/p>\n

\nAs Mittelstands continue to rebound following the pandemic however, many are struggling to find and retain quality workers as the labour shortage looms\u2014causing current employees to work more hours (41%) or requiring businesses to reduce or adjust their hours of operation (37%) .\n<\/p>\n

\nBecause of the current skills gap, Mittelstand companies are taking longer to fill open positions (38%), investing more in training (38%), making strategic efforts to retain more experienced staff (36%) and hiring less qualified candidates (33%).\n<\/p>\n

\nEmployers are also getting creative in response to the labour shortage in the hopes of attracting and retaining top talent by offering:\n<\/p>\n