Anticipated changes to labor regulations are designed to increase investment in French labor by reassuring foreign investors of the ability to adjust workforce priorities as business needs shift. The proposed labor law reform will include the capping of fines for unfair dismissals and give companies more control over unionized labor rules. This relaxing of the regulatory burdens on employers of French talent has already incentivized an increase in average payroll.
Employment in France rose by 89,700 in the first quarter of 2017, an increase of 0.4% − the sharpest increase in a decade. The majority of this activity was found in the private sector, which is indicative of reinvigorated hiring by employers optimistic about growth in the current climate.
France has also introduced a new Tech Visa and has plans to expedite requests for asylum to relax the market’s stance on immigration. These initiatives will be the first of many aspects of the market’s migration regulations to ease the process of hiring foreign talent and promote a more business-friendly environment to encourage the growth of startups with French headquarters.