Monday 18 December 2017

Six in 10 professionals would move for pay rise as market heats up

LinkedIn's global study, 'Inside the Mind of Today's Candidate', sought the views of over 6,500 professionals and 7,700 recent job switchers. Stock image
LinkedIn's global study, 'Inside the Mind of Today's Candidate', sought the views of over 6,500 professionals and 7,700 recent job switchers. Stock image

Dearbhail McDonald Group Business Editor

PAY is the main reason Irish professionals consider changing jobs - according to a major jobs market survey by LinkedIn.

Six out of 10 said they were interested in changing jobs, primarily because of pay, while just over half said they were unimpressed with management at their companies and their lack of work-life balance.

As Ireland surges towards full employment - the seasonally-adjusted unemployment rate for July 2017 was 6.4pc, down from 15.2pc in 2012 - almost 9 out of 10 workers said that they were interested in hearing about new job opportunities.

More than 500 Irish professionals participated in the global survey which quizzed more than 14,000 professionals in more than 20 countries.

LinkedIn's global study, 'Inside the Mind of Today's Candidate', sought the views of over 6,500 professionals and 7,700 recent job switchers.

The survey found that more than one-fifth of Irish professionals (21pc) think that they will stay in their current role for five years or more if there are opportunities to challenge themselves (58pc), get promoted (34pc), or if they can achieve a great work-life balance with their current employer (46pc).

Less than one in five (17pc) are worried that their job will be replaced by technology such as robots and automated systems within the next 10 years.

LinkedIn says the challenge for prospective employers is that they could be missing out on recruiting professionals to work for their organisation due to a lack of awareness about who the company is and what it does.

One in four jobseekers (24pc) in Ireland are unable to clearly see what it would be like to work for an employer before applying for a job, with 16pc citing vague information on would-be employers' websites.

"With an unemployment rate at lows not seen since a decade ago, today's Irish job market is candidate-centric, giving job-seekers a wealth of options when looking for their next role," said Wendy Murphy, senior HR director at LinkedIn EMEA.

"One effect of this is that the battle for talent between employers has become fierce and is likely to get more intense with firms relocating to Ireland post-Brexit.

"The findings of the research are clear, organisations in Ireland must have a strong employer brand to attract and retain the best candidates.

"Our research shows that while the potential candidate pool in Ireland is huge, with almost 90pc interested in hearing about new opportunities, Irish organisations must do more to promote themselves and show candidates why they are great places to work.

"It's important that they address this, or risk being left behind as top talent joins companies that are seen to be more appealing."

Full employment is expected to be reached by the end of next year with employment growth (of 3.5pc) "the most visible indicator of the strength of the Irish economy" according to Goodbody.

In its latest Health Check, Goodbody says that Ireland's "lost decade" is at an end, with full-time jobs growing at the fastest pace since 1999.

Goodbody has upgraded its forecasts for core domestic demand in both 2017 (from 3.7pc to 4.5pc) and 2018 (from 3.6pc to 4.3pc), but has warned capacity constraints will require "a reprioritisation towards capital spending".

Irish Independent

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