The Human Capital Outlook, the quarterly publication of the EY Sagardoy Talent and Innovation Institute on the labor market and employment trends, aims to serve as a practical tool for professionals and experts in employment, labor relations, and human resources, helping them navigate an increasingly complex and constantly evolving environment.
Quarterly Labor Market Observatory
The first section of the Human Capital Outlook presents the findings of the Quarterly Labor Market Observatory, which analyzes labor market developments up to September 2023. It highlights the accelerated employment growth during the first half of the second quarter and its subsequent moderation. The monitoring of the 2021 Labor Reform continues, noting that, after a year of implementation, the temporary employment rate has aligned with that of other European countries. However, no significant changes have been observed in transitions between employment, unemployment, and inactivity, with high levels of volatility persisting.
The report also addresses one of the structural challenges of the Spanish economy: the occupational mismatch among workers with tertiary education. Finally, it also covers another form of skills mismatch: the continuing education and training of entrepreneurs.
Legal and Labor Developments
In the section on legal and labor developments, prepared by Sagardoy Abogados, the report analyzes the main labor-related legislative developments adopted in the third quarter of 2023, highlighting pending directives for transposition and the amendment of Royal Decree 901/2020 as the most relevant legislative initiative.
Regarding case law, the report discusses current issues such as the assessment of grounds for dismissal, the validity of non-statutory agreements, and pay discrimination. It also analyzes the distinction between inadmissible evidence and unlawful dismissal, particularly in relation to the use of WhatsApp messages as evidence in dismissal proceedings.
Human Capital Trends
In this edition of Human Capital Trends, prepared by the EY People Advisory Services team, the focus is on the promotion of occupational pension plans by the public administration. Currently, only 5% of companies offer employee pension schemes. Law 12/2022 seeks to reverse this trend, with the objective that by 2050, nearly all companies will have in place occupational pension plans. The report evaluates the key elements of the law’s model and its impact on achieving this long-term goal.
Quarterly publication prepared by the EY – Sagardoy Talent and Innovation Institute
