Business Irish

Thursday 26 April 2018

Majority of workers expecting a pay rise

Richard Eardley, Hays managing director says recruitment is back on the agenda.
Richard Eardley, Hays managing director says recruitment is back on the agenda.
Colm Kelpie

Colm Kelpie

Almost two-thirds of employees expect to get a pay rise within the next year, with less than half happy with what they're earning, a survey has found.

And the vast majority are looking to change jobs in the next two years, the study by recruitment firm Hays found.

The survey of 1,300 employers and employees found that almost eight in ten firms expect increased business this year.

Richard Eardley, Hays managing director, said recruitment is firmly back on the agenda as conditions improve.

"Irish employees are becoming increasingly confident about their future prospects and are taking the opportunity to look for new roles," he said.

"Increased business confidence, strong economic growth and major job creation announcements in recent months have not gone unnoticed by employees," Mr Eardley said.

"It is now more important than ever before for employers to focus on retention and development strategies in order to retain their staff in an increasingly competitive market."

The Hays Salary and Recruiting Trends Guide found around 47pc of all employees were satisfied with their salaries, but 62pc expect to receive a pay rise in the next 12 months.

Salary increases sought have been described as "relatively modest" as a whole, but with exceptions noted in IT, construction and finance.

In construction and property, the most significant salary increases of 5-10pc year on year are taking place among site engineers, project managers, quantity surveyors, building services engineers and architects, the report said.

Hays said demand for senior accountancy and finance professionals has increased in recent months and is now close to pre-recession levels.

Senior appointments on more than €65,000 were generally taking place last year only at multinationals, the recruitment firm said.

But now, home-grown companies and SMEs are offering competitive rates, Hays added.

Meanwhile, business body Ibec has warned that the economy is moving into a period of greater industrial discord, saying that many pay claims are not reasonable.

Ibec director general Danny McCoy argues that disputes such as the recent Luas action, were an example of a "series of ongoing, exaggerated pay claims that risk undermining the economic gains or recent years".

He described the pay debate as "ominous".

Irish Independent

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