One in three employers is raising salaries and perks this fall

Irish workers are set for a pay rise over the next three months, with counter offers and bonuses mounting as company bosses scramble to retain or poach talent.

Over a third of Irish employers (34 per cent) surveyed by recruitment firm Hays Ireland intend to increase salaries over the next three months.

Of these, 55 percent state that this is due to the rising cost of living.

Almost half of employers (45 percent) say they offered a raise in the previous quarter, but the majority (55 percent) say salaries have remained flat over the past three months.

Meanwhile, employers are increasingly offering sweeteners other than pay raises to attract and retain employees.

Hays’ July survey of 690 CEOs found that 16 percent of employers offer employees access to financial advisors, 8 percent offer discounts at the grocery store, 6 percent give coupons on home appliances, and 5 percent offer employee loan assistance.

Among those who hire new employees, 21 percent of companies are offering bonuses, while 38 percent are more likely to make a counter offer to secure a new hire than they were six months ago.

Overall, 45 percent of employers sometimes make counter offers, 42 percent say they have a policy not to do so, and 13 percent say they always make a counter offer as part of their strategy.

More than a third (36 percent) of bosses plan to hire positions for fully removed roles.

“Overall, the job market remains applicant-driven,” said Maureen Lynch, Director of Hays Ireland.

“Despite reports of a potential economic slowdown, key industries such as banking and finance, technology, construction and engineering continue to hire – and many are finding talent difficult to find.

“With this ongoing competition for the best talent, we would advise companies to continue to re-evaluate their recruiting and retention strategies to stay ahead of the competition.”

Inflation hit 9.1 percent in July (9.6 percent according to the EU’s harmonized measure) and could hit double digits before the end of the year, economists predict.

Meanwhile, the job vacancy rate in the Irish labor market stood at 1.6 per cent at the end of March, up half a point from a year earlier, but still well below the European average of over 3 per cent. One in three employers is raising salaries and perks this fall

Fry Electronics Team

Fry is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button