Faced with an ageing population
Located in northern Europe, a member of the European Union (EU), Finland is a country with 5.5 million happy inhabitants. On March 18, Finland ranked as the world's happiest country for the 5th year in a row. Since 2012, the World Happiness Report ranks 156 countries according to various factors, including their GDP, the level of happiness felt by the inhabitants, the level of education, the state of freedom of expression, and even the level of corruption. Nordic countries generally top this type of ranking, but Finland is way ahead of Sweden and Denmark with an excellent score of 7.82/10. Does this attract expats?
The government, which communicates massively on the happiness index, believes that it does. At a time when health, economic and geopolitical crises are causing concern, happiness is just as important as improving one's standard of living. Finland guarantees both increased purchasing power and quality of life. But for this to be considered happiness, the population has to agree to it.
Finland is currently in the midst of a demographic crisis. For every 10 working active people, there are 4 seniors. In 2019, the birth rate stood at 1.35%, and forecasts are not optimistic. Although the country is doing a little better than Japan, it has an ageing population. This means that there are no longer enough assets to support the cost of pensions or even to care for the elderly. The labour shortage affects all other parts of society. This is why the government is looking to boost demography through immigration. Annika Saarikko, the Minister of Finance, claims that Finland will be able to welcome 20,000 to 30,000 skilled immigrants a year, which is twice the current inflows.
The red carpet for expats
In 2018, Finland launched the Talent Boost program to help companies hire international talent and develop partnerships with universities. The organisation can boast of having more than 3,000 international students graduating from Finnish universities each year. Regarding employment, Finland is following the example set by Quebec, Canada. Talents are being targeted locally. For example, there's a high demand for Spanish professionals in the health sector, Slovak experts in metallurgy, Indian, Russian or Filipino experts in the IT and maritime fields, etc.
Meanwhile, Helsinki is focusing on business. At the end of 2020, the government launched the "Helsinki Business Hub", which intended to welcome foreign professionals for 3 months. More than 5,000 candidates responded to the offer. While the flight ticket and accommodation costs are the applicants' responsibility, everything else is free, even for their families. In 2021, 15 profiles were finally selected, and they were able to travel to Helsinki. 7 of them decided to stay. Johanna Huure, who is in charge of the program, believes that the campaign had a global impact. In her opinion, foreign talents, even those who did not stay, are ambassadors for Finland. As a result, they will be better able to testify about its benefits.
What are Finland's strengths and weaknesses?
Finland is way ahead of many of its competitors in many aspects. For example, it is one of the world's most advanced countries in social matters. Furthermore, Sanna Marin – the youngest Prime Minister in the world – has taken a step further in terms of parental equality. From September 2022, each parent will be eligible for 97 days off, plus an additional 63 days transferable from one parent to the other. Considering the quality of childcare and the education system, not to mention the "baby box" worth 170 euros for every newborn, it's fair to say that the Finnish government is doing whatever it takes to make life easier for parents and promote the development of children. Gender parity is also much more respected than elsewhere. Female leadership is not a rare thing in Finland. For instance, the current government has only female leaders in key positions. What's more, the country has had 4 female Prime Ministers before Sanna Marin. This could be an appealing factor to young foreign talent.
However, like most countries, Finland also has certain drawbacks, such as the harsh climate. Still, expats can get over it if they come prepared or once they get used to it. The language barrier is another significant issue, especially for entrepreneurs who are required to have a good command of the language. Besides, although it takes time to learn a new language, it makes integration much easier. The government encourages greater support so that immigrants gradually become familiar with the language. However, the far-right – accounting for 14.5% in last year's local elections – made this a weapon to undermine any progress on immigration. This is one of the biggest obstacles raised by foreign talent. Then comes the somewhat reserved image of the Finns, who are not necessarily willing to share their benefits. However, attitudes are slowly changing.
Conclusion
Are younger generations going to experience the changes? Startups and other young companies are forging more and more partnerships with foreign groups as immersion in international cultures promotes exchanges, and the government encourages such practices. Besides, the Helsinki Business Club has created a platform to connect unsuccessful applicants with Finnish companies. Considering the demographic crisis, Finland is stepping up its measures to attract international talent.
