Hiring confidence remains strong among Irish employers despite economic challenges

The main reasons why employees reported they moved jobs in 2023 are due to a lack of career progression (40%) and due to a lack of career development (38%).

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More than 90% of Irish employers said they faced skills shortages among staff this year but the majority remain committed to their recruitment goals for the upcoming year despite an uncertain economic backdrop.

The responses were detailed in a survey by Hays Ireland, which found that 85% of employers plan to hire over the next 12 months, down from 90% this time last year, which peaked at a six-year high.

The vast majority of employers (66%) indicated that they primarily plan to hire permanent staff, while 34% of employers are seeking to employ staff on a temporary basis.

However, employers anticipate that finding the right talent will be their most significant external challenge, with 53% expressing this concern.

In response to the cost-of-living crisis, 79% of employers say they have increased pay for staff this year, decreasing slightly from 84% of employers who increased pay in 2022.

Of employers who increased pay this year, 57% of employers said this was a direct result of increased inflation.

The survey, published as part of the Hays Ireland Salary & Recruiting Trends Guide 2024, received over 1,450 responses from employers and professionals between August and September.

Talent retention is also a significant challenge for employers, with 62% saying they predict that talent retention will present the greatest internal challenge to their organisations over the next 12 months.

The main reasons why employees reported they moved jobs in 2023 are due to a lack of career progression (40%) and due to a lack of career development (38%).

Maureen Lynch, managing director at Hays Ireland, said the commitment of employers to their hiring goals despite economic concerns signals a positive outlook for the job market.

“However, challenges will persist in the upcoming year as both employers and employees grapple with economic challenges like living costs and inflation.

“A talent and skills shortage continues to be a concern for employers, with many having to raise wages to both attract new talent and retain existing employees,” she said.


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