A survey conducted by Adecco Learning & Consulting involved more than 350 companies across the country. The goal was to understand how firms are coping with the pandemic’s effects and whether they can regain competitiveness in a fast-changing market. The study covers business models, telecommunications, talent recruitment, wage policies, and other critical factors shaping the current Spanish business reality.
Victoria Benlloch, Director of National Business Strategy at Adecco Learning & Consulting, helps illuminate the findings in an interview that examines the results of this national research.
Are companies already recovering from the health and economic crisis?
Recovery remains gradual and varies by industry, company size, and the depth of impact each business experienced. The crisis has left lasting effects on solvency and viability for many firms, and the latest study confirms that only a minority feel financially robust enough to stay competitive.
Inflation, rising fuel and energy costs, and the looming impact of policy changes add new pressures. These factors are likely to complicate the recovery trajectory and require careful financial management and strategic flexibility.
Has the crisis shifted corporate strategy, or have traditional models simply resumed after the upheaval?
Many companies have adopted newer management approaches alongside traditional practices. Strategy has shifted toward shorter planning horizons and actionable short-term plans, replacing previous long-range strategies in several cases. There is a stronger emphasis on results analysis and on supervisory controls, with new indicators to measure employee productivity and performance.
Did the same changes reach telecommunications?
Teleworking was expected to transform operations quickly, but the reality is more mixed. Approximately 27% of Spanish firms do not have any teleworking days, while 47% implement it only in administrative roles. Other departments often remain on site. Some companies are beginning to reward in-person work financially, though a lack of trust, and uncertainty about measuring productivity for remote staff, have slowed widespread adoption. The prevailing view remains that remote work will require cultural adaptation and new metrics for truly fair assessment of work performed away from the office.
Do salary policies shift in this environment?
Most firms have not altered salary policies. Around eight in ten companies did not change compensation plans, wage structures, or social benefits. Yet the emphasis on pricing power remains strong, and some businesses are tying variable pay more closely to overall results and profitability. Benefits that support labor flexibility and employee welfare continue to be highlighted as part of compensation packages.
Given inflation and the current economic climate, many workers have shown a willingness to change jobs for better pay or growth opportunities. Recent data from Social Security reveal a historical spike in resignations, underscoring the ongoing labor-market shifts. The top reasons cited for leaving include salary, management, and the desire for greater flexibility.
Is there a talent shortage for certain roles, and can firms fill open positions?
Spain faces a pronounced shortage of tech professionals, and even generous salary offers cannot always bridge the gap due to a lack of qualified candidates. In hospitality, the challenge is acute; finding trained waitstaff and cooks remains difficult, with calendar rhythms often complicating recruitment efforts. The pace of hiring varies by sector, and some firms are reevaluating how to attract and retain skilled workers.
What do workers value most in an employer today?
Employee priorities have shifted since the pandemic. People seek a clear sense of purpose, alignment with corporate values, and a healthy work environment. Flexibility in hours and telework, along with holidays, are critical. Employees also look for transparent career progression and opportunities for professional development in a company with a defined growth path.
What does Adecco Learning & Consulting say about equity plans in Spain?
There is a growing move toward formal equity plans as a core HR policy. The new regulations require companies to implement equity assessments and, increasingly, Equality Plans. While some instances are strictly legal compliance, a broader trend shows firms recognizing the value of equitable policies, with efforts to reduce gender pay gaps across similar roles and to strengthen overall fairness in compensation. This suggests a deliberate step toward professionalizing people practices and ensuring fair treatment across the workforce.
Which sectors are recovering fastest, and which lag behind in the last two years?
IT, digital services, software, e-commerce, healthcare, distribution and logistics, energy, and pharmaceuticals show the strongest momentum in the labor market. In contrast, agrochemical, metals, and plastics sectors are recovering more slowly, while hospitality and tourism remain sensitive to cyclical variations. These patterns highlight where talent demand is rising and where constraints persist, guiding firms in prioritizing hiring and development efforts.
Source analysis from Adecco Learning & Consulting shows that recovery is uneven but ongoing, with strategic shifts toward flexible management, focused investments, and a renewed emphasis on people, culture, and governance. The study underscores the importance of aligning operational changes with a clear people strategy to sustain growth in a changing European market.
Attribution: Adecco Learning & Consulting study on business trends and recovery in Spain.