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Workforce in Switzerland

Workforce in Switzerland

The working population in Switzerland

Switzerland is known for its high quality financial services and the country is one of the world’s most prosperous countries in terms of private income. The good quality of life makes has attracted many foreign business owners to the country and, as a result, many foreigners are working in Switzerland

The workforce in Switzerland is highly educated and highly skilled. Switzerland has a high literacy rate of 99%. The majority of Swiss employees work in the services sector, followed by the industry sector. The unemployment rate in the country is relatively low compared to that in other Western European countries and youth unemployment decreased compared to previous years.

Foreign workers in Switzerland

Most foreign citizens in Switzerland come from other European countries like Italy, Germany, Portugal, France or Austria. Residents from other continents come to live and work in Switzerland as well, the most numerous being from Asia, followed by Africa and the Americas.

Business owners in Switzerland who want to hire foreign employees need to observe the special legislation regarding working permits in Switzerland. These permits are usually granted together with a resident permits and the rules are different for EU citizens and non-EU citizens. Employers who want to hire personnel need to know what the available types of permits are. Our company formation specialists in Switzerland can give you more information on how to apply for a permit and eligibility criteria.

Hiring employees in Switzerland

Business owners who want to hire employees in Switzerland need to not only observe the rules and regulations for hiring foreigners, but also observe the labor market regulations such as concluding an employment contract (individual, collective, and standard). The working hours in Switzerland are limited and employees in Switzerland are entitled to at least a four week holiday every year.

The high level of education among the Swiss makes the country’s workforce a valuable asset. Foreign and local business owners can benefit from hiring Swiss employees. If you want to know more about employment in Switzerland, you can contact our Swiss company formation experts.