A great overview of this formidable Monegasque “working basin” at the gateway to the Alpes-Maritimes: this is what the last Eco Club meeting organized in the Principality by the Monaco Economic Board made possible. (MEB) and the Nice-Matin Group following a new conference format open to the public. On the theme “The dynamism of employment in Monaco: career possibilities in an international place”, members of the Club and invited experts were able to discuss the news of the Monegasque labor market, its perspectives, its opportunities, the progress of career, the density of the ecosystem, teleworking, the interconnection between local and international decision-makers, the variety of activity sectors …

Photo credit MEB / Carte Blanche): From l. a d. Christian Huault (Nice-Matin Group), Corinne Pirinoli (Monaco Telecom) Guillaume Rose and Michel Dotta (Monaco Economic Board), Emmanuelle Cellario-Florio (Employment Service), Emmanuel Van Peteghem (SBM Monte-Carlo) and Ariel Barugel (CFM Indosuez).

“An economic hub open to the world “

“Monaco has a real attractiveness to bring in more than 55,000 employees working in different sectors”, one presented as a starter Guillaume Rose, executive director of the MEB. “It is an economic hub open to the world offering many career opportunities “. Currently, the Principality has more than 56,000 employees (including 51,008 employees in the private sector) of 140 nationalities (including 63% French and 15.5% Italian) and 6,126 companies (figures as of December 31, 2020).

The Principality’s largest employer

While eight sectors are mainly recruiting (medical, legal, hotel and catering, banking, construction, digital, personal assistance, accounting-auditing), “lThe scientific and technical activities and administrative services sector is the Principality’s largest employer “ precise Ecellario mmanuelle. Head of the Employment Service, she also spoke of the advantages of a local administration (“each employer is monitored individually“), of the law on teleworking (“companies can offer teleworking up to 3 days a week “) and alternation (“it is now a flagship measure with a platform dedicated to last year. We have 160 contracts signed in one year “).

A great diversity of companies, from start-ups to large groups

To pay Corinne Pirinoli, HR Director at Monaco Telecom (she was HR Director for Amadeus in Sophia Antipolis), one of the strengths of the Monegasque labor market lies in its “great diversity of companies: from start-ups to large groups. And Monaco is able to federate these companies. This creates an ecosystem that is full of opportunities for careers and development. For example, 70% of employees who leave Monaco Telecom finds a job in Monaco thereafter», She explains.

Tourism, Monaco’s DNA

Certain areas, such as tourism, are part of Monaco’s DNA. In this sector, “We have a lot of talent. Monaco is an international place for luxury in hotels and restaurants”, so remember Emmanuel Van Peteghem. Secretary General of the Société des Bains de Mer (it has 130 different professions), he stresses that it is important “to promote internal mobility. We have a real training policy to allow our talents to stay and develop. ”

Finance and increasingly the Tech sector

Another asset of Monaco: the finance sector. “There are many subsidiaries in Monaco which have headquarters abroad “, indicated Ariel Barugel, HR Director at CFM Indosuez. “In ten years, there has thus been a 30% increase in professionals in the finance sector to reach 4,000 employees today “. The speakers also noticed that the Tech sector operates a major force in Monaco. In ten years, it has experienced an increase of more than 60% and today counts 861 companies and 1,727 employees. The future of the formidable Monegasque labor pool is on the move.