Thursday 21 June 2018

Staff retention a bigger worry than Brexit for Dublin firms

Brexit was named by just under half (49pc) of respondents as their main concern for 2018.
Brexit was named by just under half (49pc) of respondents as their main concern for 2018.
Adrian Weckler

Adrian Weckler

In a booming economy, Dublin-based companies see staff retention as a bigger concern than Brexit according to a new poll among the capital's business community.

With sentiment bullish, 84pc of Dublin firms expect revenue to increase in 2018, while two-thirds say they'll add jobs, according to the Dublin Chamber survey.

The barometer poll of 210 companies, found that more than two-thirds of firms (69pc) rank the retention and attraction of employees as an issue of high concern for 2018.

By comparison, Brexit was named by just under half (49pc) of respondents as their main concern for 2018.

Worries about new GDPR data protection legislation - due to come into effect in May 2018 - provide the second biggest headache for Dublin-based companies, with 62pc stating that they are "highly concerned" by how the new regulations will impact on their business. Under the new law, firms can be fined up to €20m or 4pc of annual turnover for failing to abide by the tightened rules. One in four firms say that their business is unprepared for GDPR, with 60pc describing themselves as "quite prepared" and 11pc as "very prepared".

Infrastrucure issues are also prominent in Dublin firms' worries for the coming 12 months - 85pc say that the Government is not doing enough to ease infrastructure pressures facing the city, while just 7pc said they are happy with things. Around four out of five firms (86pc) expect Dublin commute times to lengthen in 2018.

Other issues highlighted by businesses in the survey included rising insurance costs (40pc), currency exchange fluctuations between the euro and sterling (34pc), and government instability (32pc).

Irish Independent

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