Businesses that work with international suppliers face immense pressure to comply with human rights standards. This is due to the supply chain law, which requires a massive effort on their part. While some companies, such as Böhler in Kapfenberg, already have systems in place to meet these requirements, others may need to make significant changes to their operations.
In terms of workforce composition, many companies have a mix of workers and employees, with a small percentage dedicated to administration. Research and development activities are often integrated into production processes, especially when working with large customers on prototyping and product development.
Addressing the shortage of skilled workers is a priority for many businesses, and Austria’s dual training system provides a valuable resource for training the next generation of workers. By investing in apprenticeships and ongoing training programs, companies like SBO are able to cultivate a skilled workforce and retain employees for the long term.
Despite high tax and labor costs in Austria, businesses like SBO are able to remain competitive by focusing on technology and quality leadership. By emphasizing innovation and product differentiation, they are able to offset the impact of high personnel expenses.
While the energy transition presents new challenges for many industries, companies like SBO see opportunities for growth in emerging markets like geothermal drilling, carbon capture, and hydrogen production. By leveraging their expertise in materials science and steel manufacturing, they are well-positioned to capitalize on these evolving industries.
The recent conflict between Russia and Ukraine has had minimal impact on businesses like SBO as their operations in Russia are limited and they have complied with international sanctions. While global events can create uncertainty, companies that diversify their operations and remain adaptable are better positioned to weather geopolitical challenges.
In summary, compliance with human rights standards is essential for businesses that work with international suppliers. However, some companies may require significant changes in their operations while others already have systems in place. The shortage of skilled workers is another challenge faced by many businesses; Austria’s dual training system offers valuable resources for training the next generation of workers.
Businesses must focus on technology and quality leadership while also emphasizing innovation
