Spain is one of the most important economies in the European Union, with a workforce of 22,899,000 people (registered in the first quarter of 2015), according to the latest data collected by the Spanish National Statistics Institute. The Spanish government has enforced, over the last years, competitive measures in order to improve the workforce’s qualifications in order to meet the market’s needs. Investors interested in opening a company in Spain can receive relevant information on the workforce market from our Spanish company formation agents.
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The characteristics of the workforce in Spain
At the level of 2013, Spain occupied the 3rd place in the European Union in terms of young persons who have followed tertiary education, after United Kingdom and France; secondary education was accomplished by 55% of the adults aged between 25 and 64. In order to accomplish the OECD standards, the Spanish government has created educational reforms, with the purpose of improving the skills and quality of training young people receive.
The video below offers further information on the Spanish workforce:
Since 2012, Spain has introduced a new legislation available for the labor market, aiming to remove various tax barriers for Spanish employers; our company formation agents can provide you information on this matter.
Spanish labor reforms, such as the public employment services, are aiming to offer reliable support for young people transitioning from the studies environment to the work environment; in this sense, the government is trying to impose new regulations for training and niche education.
Employees in fields such as research and development, software and database represent more that 10% of the entire workforce market in Spain.
Incentives for employment in Spain
Investors interested in opening a company in Spain should know that the Spanish government offers several incentives for employers who hire certain categories of employees:
- employers who hire persons aged above 45 benefit of reduced social security contributions for these employees;
- if the employer turns a temporary contract of an employee into a permanent one, the company will benefit of the reduction of social security contribution;
- the company can benefit from government financial bonuses, if the employer hires women or persons who haven’t been employed for more than a year.
If you want to find out more about the workforce in Spain or if you need further information on the employment incentives offered to the employers, please contact our company formation agents for a detailed presentation.