The Current Finnish Labor Market Situation

As many private companies and wellbeing areas / service counties increasingly said no to using borrowed workforce due to the immense costs that came along with that many of said companies went out of business which provided a further influx of nurses to the healthcare system. While this meant a drop in demand for recruitment services offered by Silk Road our company saw it as a positive thing at the end of the day. It was the goal we had all been working towards. Solving the shortage of healthcare workers to ensure the guarantee of healthcare services in the future. 

On the 16th of April 2024 the Finnish government unveiled further spending cuts aiming to save an additional 1.6 billion euros. The healthcare sector was sadly once again heavily hit by these spending cuts resulting in, among other things, a cancelation of the 0.7 care providers / patient goal and lowering the current staffing requirement of 0.656 care providers / patient to 0.6.  

These decisions have resulted in many healthcare providers needing to rethink their staffing and recruitment goals. This has directly affected Silk Road and led to us having to place many recruits who were planned for deployment within 2024 on temporary hold to align with a new deployment date in 2025.  

Silk Road will continue our recruitment program as normal with the exceptions of new batches no longer starting regularly. If you have not yet joined the Silk Road recruitment program, then there will be a waiting time of a few months before you will be able to be accepted. We are following the situation carefully and hopefully we can start accepting the first new batches to start around August 2024. 

Silk Road will also look to expand into new areas of recruitment which will open new avenues and possibilities for professionals looking to live and work in Finland.  

While the staffing requirement has been lowered, thereby creating a dip in demand for new healthcare workers, we are certain that the demand will increase again. 
 
Firstly, In the municipal sector, 26% of nurses, 31% of public health nurses and 47% of middle directors in nursing will retire before 2030. These nurses and healthcare professionals need to be replaced at a pace which we are not currently matching. 
 
Secondly, the government decisions will lead to an increased workload for many nurses and caregivers around Finland. Once again making the profession more taxing and lead to more dissatisfaction amongst healthcare professionals. Sadly this dissatisfaction will show itself in the form of higher personnel turn-over rates.  
 
Finally, even if the staffing ratio were never lifted and would remain at 0.6 care providers / patient, Finland still faces the fact that there are increasingly more elderly people in need of care every single year. This is a fact that cannot be changed with government decisions and budget cuts and will bring with it ever-growing needs for more healthcare professionals. When this need once again arises Silk Road will be there to meet it head on with the help of you, our amazing community of healthcare heroes. 

We want to end this blog post with some more personal words. We want to thank you all for supporting Silk Road in its endeavors to create a win-win-win program for us, you, and the employers that we work with. We will continue to strive towards our goals of creating the best possible pathway for work-based integration to Finland and help to alleviate the shortage of healthcare workers. Even though this current situation will bring with it delays in our program, we hope you will stick with us and that we can welcome you here in Finland just a bit later than originally planned!  
 
We will use this time to further enhance our processes and have actively started collecting recruit feedback on what we can further improve on. This will ensure that you will have an even better experience once making your way to Finland! Together we will get through this period of slow downs. Sooner than you know it you will find yourself waking up in the world’s happiest country! 

See you soon!