Potential employees are seldom paid to attend a job interview. However, the limitations on travel due to the Covid pandemic have caused some employers to rethink their strategy.
Skilled workers within the IT sector, in particular, are in high demand as Europe opens back up once again.
Stefan Knoll, the founder of Deutsche Familienversicherung, a fast-growing insurer based in Frankfurt, is now offering €500 to anyone who interviews for a vacancy, €1,000 to those who make it to a second round, and €5,000 to candidates who complete a six month probation.
He told the Financial Times: "It is particularly difficult to find anyone with IT skills.
"We compete with giants like Allianz who can easily hire hundreds of people around the world — but we are not interested in hiring people in India. We want people here in Frankfurt."
The move may be a sign of things to come as employers battle it out to win more skilled employees.
The demand is a welcome change to unemployment rates of years passed as employees now have the potential to be offered more high paying jobs.
Other sectors experiencing shortages include healthcare and construction as the Covid pandemic continues and the housing crisis remains rife with ever-increasing demand.
The increased demand will also benefit people who are happy in their current roles.
Salaries are expected to rise by five to 10% in specific sectors this year, according to the latest Irish salary guide by Morgan McKinley.
The global professional recruitment consultancy released the new data after analysing pay across different sectors.
A shortage of skills means jobs that require specific training are expected to see a salary increase of between 15% to 20%.
These sectors include technology, science, Irish pharma, biopharma and engineering.
The study also reported that over 80% of people are considering a career move in the next six to 12 months.
Tracy Keevans, Global FDI Director at Morgan McKinley Ireland, said the pandemic has prompted many workers to re-evaluate their positions.
She said: "The experience of the sustained public health emergency has prompted countless workers to re-evaluate their work options, fine-tuning a better work-life balance and making deliberate choices as to where their careers are heading next," she said.
"They're looking for opportunities that give them the right pay, benefits, and work arrangements in the longer term."
