Danish companies met 250 international talents in one day
18 June 2019
Even though many Danish companies are looking for qualified labour, 42 per cent of international graduates leave Denmark after graduation. This is a problem - both for the companies and the Danish treasury, which has often paid for the studies. That is why Copenhagen Capacity each year arranges an international talent conference, where hundreds of international students are invited to meet and network with Danish companies.
For 250 international students, May 24th was a day full of networking, valuable insight into the Danish labour market and inspirational speeches, aiming to motivate them to stay in Denmark after graduation. And for the eight participating companies, it was a unique chance of meeting talented international students, who might be the perfect match for their business.
It was the day, Copenhagen Capacity held the sixth International Talent Conference (ITC), and this year the conference was held at Novo Nordisk HeadQuarters in Bagsværd. The conference is a unique meeting point between highly talented international students and representatives from big corporates.
"Foreign university students in Denmark are extremely attractive. They have the knowledge and international competencies that the Danish business community needs. They know about Danish culture and work forms. And they contribute positively to the economy while they are here. Denmark should, therefore, do much more to maintain the young talents who are already right in front of us and not just to attract them"
- Claus Lønborg, CEO, Copenhagen Capacity
Denmark lacks 14.000 candidates by 2025
Talent is an essential resource for Denmark and Copenhagen Capacity wants to address the value of keeping international students in Denmark after their graduation. Forecasts show that Denmark by 2025 will have a shortage of about 14,000 engineers, IT specialists and scientific candidates. The eight companies that were present at the conference are also very aware of the need for highly qualified international labour.
Novo Nordisk is an example of a company that need to attract competences from abroad and that is why they chose to host this year's International Talent Conference.
"The conference was a great success! We got the opportunity to meet international students and talk about the exciting opportunities we offer young talents at Novo Nordisk. It was satisfactory that together with Copenhagen Capacity and today's other companies we could inspire and motivate international talents to make a career in Denmark and potentially in Novo Nordisk "
- Caroline Hart Sehested, Head of Global Early Talent, Novo Nordisk
The conference is a big success
This year's conference had, besides all the big corporates, many great speakers present. Among them, His Royal Highness Prince Joachim and former Minister for Research and Education Sofie Carsten Nielsen, whom both gave inspirational speeches why international talent is so essential to Denmark.
During the day, the international students also took part in two matchmaking sessions with the participating companies, creating personal contact between recruiting companies and soon-to-be graduates.
"It was great to participate in such a well-organized day that gave the impression of a highly qualified group of international students. I came home with the feeling that in the future business will be in good hands with a skilled and dedicated workforce."
- Dr. Duncan T. Aust, Head of Plant Health Global R&D, FMC
Why Denmark needs specialised international talent:
- 42 per cent of international students have left Denmark two years after completing a university degree. Only about every third work in Denmark after two years. Four out of ten leave Denmark immediately after the graduates from a Danish educational institution (Ministry of Education and Research, 2018).
- Danish business life experiences production restrictions due to a shortage of labour. This applies to every 10th industrial company and every 5th service company (Statistics Denmark, 2019).
- In the year 2025, there will be a shortage of 14,000 engineers and natural science candidates in Denmark (Engineer the Future, 2015). According to the government's survey, Denmark will lack 19,000 IT specialists in 2030 (Alexandra Institute et al., 2016).
- It costs expensive when companies cannot find employees with the right skills. A total of 40% of business executives estimate that they can increase their earnings if they have access to employees with the right competencies. Business leader's biggest concern is the difficulty of recruiting qualified labour. Every fourth business leader acknowledges that the consequences of unsuccessful recruitment lead to difficulties achieving growth goals (CXO Survey, PwC, 2019).
- Almost half of the Danish business executives point out that foreign labour has qualifications and competencies that they cannot obtain in Denmark (YouGov and the Leaders 2017).
- Highly educated foreigners, without brought family, stays on average in Denmark for 5½ years and the will contribute with an average net contribution of just over DKK 720,000 to public finances. If the family follows along, the average length of stay is 10 years, and the average net contribution is just under DKK 220,000 a year. By that said, a total of DKK 2.2 million (DEA, 2016).