Thursday 27 October 2016

Most workers expect a 'modest' salary rise

Richard Eardley, managing director of Hays Recruitment
Richard Eardley, managing director of Hays Recruitment

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 revealed that almost eight-in-10 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 increase requests 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. Home-grown companies and SMEs are offering competitive rates, it said.

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