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Saturday 17 November 2018

Does your employer see cents? Most employees are in line for a 2.5pc pay rise next year

 

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Independent.ie Business Desk

Independent.ie Business Desk

MOST workers are in line for pay rises worth 2.5pc next year and employers are planning to create more jobs.

The largest employer group's latest survey on pay, to be published today, says 80pc of companies will push up wages next year.

This is similar to the type of rises predicted for this year. However, unions were seeking hikes worth 4pc.

A total of 47pc of companies said they plan to hire more workers next year, a modest increase on last year when 43pc planned to hire, according to the Ibec survey.

Speaking in advance of the Ibec HR Leadership Summit today, director of employer relations Maeve McElwee said plans to increase pay reflect strong economic growth across the country.

"With inflation remaining benign and some modest tax cuts kicking in, it amounts to real wage inflation next year," she said. For business, we need to be careful that our cost base does not undermine our competitiveness."

More than 90pc of high-tech companies, 85pc of manufacturers and 79pc of distribution firms said they planned to increase pay.

Irish Independent

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