Your Trusted Partner for Recruitment in Liechtenstein

To better fulfill your recruitment needs, we at Remote People are here to help you find top talent in Liechtenstein more effectively than recruiting on your own. Our team understands the local language, customs, and the intricacies of the Liechtensteiner talent market, giving you a significant advantage in securing the right candidates.

We know where to advertise your job openings to ensure maximum exposure and attract the best talent. Additionally, we assist in designing competitive, locally-appropriate compensation packages that not only appeal to top candidates but also help you optimize costs. 

Get in touch with us to navigate Liechtenstein’s recruitment landscape with confidence and ease.

Key Takeaways

  1. Liechtenstein’s 42,500-strong workforce comprises both domestic and cross-border commuters from Switzerland, Austria and Germany.
  2. Sectors where jobs are in the highest demand in Liechtenstein include financial services, manufacturing, and IT.
  3. Companies may use recruitment agencies that specialize in temporary, permanent, executive, or industry-specific employment.
  4. When choosing an agency, companies should prioritize the agency’s experience and expertise in recruiting candidates for specific industry roles.

Despite being the sixth smallest country in the world, Liechtenstein boasts a strong economy with A GDP of $7.36 billion recorded in 2022. Following a significant growth in GDP of 20.4% in 2021, the country saw a gradual slowing of economic progress in the subsequent year due to a decrease in external demand as a result of the COVID-19 pandemic. However, owing to prudent fiscal management and the country’s strong industrial sector, Liechtenstein’s economy has recovered well, achieving a 2.3% growth in GDP in 2023.

Liechtenstein’s economic integration through multilateral organizations such as the European Economic Area (EEA) and World Trade Organization (WTO) has also contributed to the nation’s economic progress. Owing to its membership within these organizations and its integration into the Swiss economy, Liechtenstein enjoys access to the EEA and EU single market.

An important aspect of Liechtenstein’s economy is the distribution of its workers with 59% commuting daily from Switzerland and 37% from Austria. This means that the number of employees within Liechtenstein’s workforce actually exceeds its population of 40,000 with a figure of 42,500 reported in 2022. 

Best recruitment agencies in Liechtenstein can offer companies valuable support in ensuring that they are connected with professionals who meet their workforce needs. Agencies will also help guide companies through the complexities of employment for cross-border commuters.

Overview of Liechtenstein Recruitment Industry

Companies in Liechtenstein employ over 80,000 people globally, with 42,514 of that total employed domestically. In 2022, 64.4% of the country’s national workforce was employed in the services sector in industries such as tourism, real estate, IT, cleaning and repair services. Due to strong economic growth relative to the country’s small size, Liechtenstein is heavily reliant on inputs made by commuting workers from neighboring countries. This reliance means that Liechtenstein is constantly under pressure to facilitate, incentivise and support work for non-domestic employees.

The financial services sector in Liechtenstein also plays an important role in the country’s economy. This sector includes insurance and accounting and contributes 22% to the nation’s GDP. Financial institutions in Liechtenstein have even established private wealth management networks in Asia and the Middle East, producing new employment opportunities for remote workers.

Recruit in Liechtenstein

Liechtenstein offers a highly skilled workforce with strengths in financial services, manufacturing, and precision engineering, with professionals fluent in German and English.

We source pre-vetted candidates across industries, handling local recruitment processes and Liechtenstein labor compliance requirements.

No local entity needed. Your team can start in days.

FIND TALENT

What are the Benefits of Recruiting in Liechtenstein?

Companies recruiting in Liechtenstein have unique access to a global talent pool. With Austrian, Swiss and German workers commuting to Liechtenstein for employment opportunities,  recruitment agencies in Liechtenstein enjoy access to a highly skilled and diverse network of professionals. The nation’s strong cross-border-mobility coupled with a low unemployment rate of 1.4%, make it a prime location for international expansion and recruitment.

Liechtenstein also provides many employment opportunities for professionals specializing in financial services. Owing to the country’s highly efficient banking infrastructure and strong regulatory system for investment funds, Liechtenstein continues to be a popular recruitment destination for businesses involved in the insurance, funds, and fiduciary industries. 

As a member of the EEA and as a result of the country’s integration into the Swiss economy, Liechtenstein benefits from direct market access to two lucrative economic areas. This market access means that companies operating and recruiting within Liechtenstein enjoy total freedom of services throughout the EU and EEA. Despite not being a member of the EU, Liechtenstein’s historical ties with Switzerland mean that the nation enjoys many of the same benefits as other EU member nations. These benefits also provide advantages for the employment industry as many companies recruiting in Liechtenstein are protected by EU regulations and supported by EU funding.

What Legal Considerations apply when Recruiting in Liechtenstein?

The Employment Act (1967) governs employer obligations and conditions such as leave entitlements, working hours, termination, wages, and probation.

Working Hours

The law allows for a maximum working week of 48 hours for employees. Time worked beyond this must not exceed two hours and must be compensated at a rate of at least 1.25 times the employee’s normal wage.

Compensation

Employees are additionally entitled to compensation should they work during one of Liechtenstein’s 12 public holidays. In certain circumstances, employers may adjust the working hours to compensate for time lost during company holidays or operational disruptions.

Paid Leave

The statutory minimum for annual leave in Liechtenstein is set at 20 days for employees who work five days a week and 25 days for employees working six days a week. Employees are also entitled to sick pay for a maximum of 720 days within a period of 900 consecutive days. In certain circumstances where the employee is unable to work, the sick pay awarded will amount to a minimum of 80% of the pay lost.

Pregnant employees in Liechtenstein are entitled to 20 weeks of maternity leave paid in full and fathers may take two weeks of paternity leave.

Social Security

Both employers and employees are required to contribute to Liechtenstein’s social security scheme. The scheme ensures that workers are protected financially in the event of old age, disability, unemployment, accident, and death. Employers are required to make a total contribution of 4.9%, whilst employees are obliged to make a slightly smaller contribution of 4.7%. Employee contributions must be withheld from the employee’s salary and remitted to the relevant tax authorities.

Employment Contracts

The two main types of employment contracts used in Liechtenstein are fixed-term and indefinite contracts. The former refers to an arrangement with a predetermined set end date negotiated by both the employee and employer. These contracts are typically limited to three years but can be renewed or converted to a permanent contract following their termination. Conversely, indefinite contracts refer to an arrangement where there is no specified end date. These contracts provide the employee with continuous employment until termination becomes necessary.

Employment contracts should be written in German and provide a salary paid in the local currency of the Swiss franc. Translated versions of the original contract may be provided for foreign employers or employees.

What are the Downsides of Recruiting in Liechtenstein?

When recruiting in Liechtenstein, it is crucial that companies consider the drawbacks of international employment.

Owing to the nation’s small size, many businesses will be required to recruit non-domestic workers in order to meet their workforce needs. This can increase opportunities for risk as businesses will need to navigate the complexities of visa support and work permits. 

To minimize these risks, many businesses choose to hire contractors or contract a recruitment agency that can support companies in enacting efficient and compliant recruitment strategies.

How to Choose a Recruitment Agency in Liechtenstein

Expertise and Experience

Companies looking to contract a recruitment agency in Liechtenstein should prioritize the provider’s expertise and experience in navigating Liechtenstein’s legal environment. Proving compliance with national and industry-level laws is crucial to securing a company’s professional reputation and preventing costly penalties and fines. 

It is, therefore, paramount that the provider is well-versed in Liechtenstein labor and taxation laws and can implement effective recruitment strategies in accordance with these legislative requirements. Due to many of Liechtenstein’s workers coming from neighboring countries, it is also crucial that the provider understands laws relating to commuters and the provision of work visas and permits. For full compliance assurance, it might be worth considering the support of a Liechtenstein Employer of Record (EOR) — experts in compliant Liechtenstein hiring and employee payment. 

Cost

Companies must also consider the cost of the provider and whether this meets their budget requirements. It is important that the recruitment agency has a clear and transparent pricing structure that the company can review to ensure the arrangement provided is affordable.

Reviews

Additionally, It is important that the agency has a strong record of providing staffing solutions that meet a company’s specific workforce needs. Companies can assess the agency’s experience and expertise by reviewing previous client testimonials, where they can evaluate both the quality and quantity of employee placements.

Data Protection

An additional consideration for companies should be the provider’s ability to protect their data. The technology leveraged by companies should both optimize the efficiency of their operations whilst ensuring that sensitive employee data is processed securely. Data-encryption software and access controls are both examples of safeguarding measures that can be implemented by agencies.

Due to the country’s strong economic ties, highly skilled talent pool, and diversity of employment opportunities, Liechtenstein remains a favorable location for businesses looking to source and hire talent.

Recruitment agencies can help companies optimize the benefits provided by Liechtenstein’s secure and dynamic business climate. Agencies will support companies in hiring professionals most suited to their needs, ensuring that their recruitment strategies are informed by and aligned with the company’s long-term goals.

Recruit Top Talent Across Europe with Our Recruitment Expertise

Navigating the complexities of hiring and workforce management across different countries can be challenging. Partnering with a reliable recruitment agency ensures you stay compliant with local labor laws, streamline the hiring process, and secure top talent. Learn how Remote People can help you recruit in the following countries:

Recruitment Agencies in Europe
Albania Andorra Austria
Azerbaijan Belgium Bosnia and Herzegovina
Bulgaria Croatia Cyprus
Czech Republic Denmark Estonia
Finland France Germany
Greece Greenland Guernsey
Hungary Iceland Ireland
Isle of Man Italy Jersey
Kosovo Latvia Liechtenstein
Lithuania Luxembourg Malta
Mayotte Moldova Monaco
Montenegro Netherlands North Macedonia
Norway Poland Portugal
Romania San Marino Slovakia
Slovenia Spain Sweden
Switzerland Turkey Ukraine
United Kingdom

Ready to recruit top talent from Lesotho? Remote People can help. Contact us today to discuss your recruitment needs and discover how we can assist you in achieving your business objectives.