MORE THAN THREE quarters (76%) of Irish employers expect to be challenged by a shortage of suitable candidates in 2017.
That feeling comes as competition for talented professionals becomes intense, according to the latest Hays Salary Survey.
The economic outlook is positive with 79% of employers expecting their levels of business activity to increase over the next 12 months, while 84% plan on recruiting additional staff. However, this is exacerbating an already stretched labour market.
In direct response to this shortage of skilled professionals, a quarter of employers are increasing their training and recruitment budgets and one in five are putting more effort into marketing. Many are looking abroad to fill talent gaps.
Commenting on the findings, Hays Ireland Managing Director, Richard Eardley, said: “It’s no longer accurate to frame Ireland’s economy through the lens of ‘recovery’. We have entered a new economic cycle, and from our own findings, the problems facing businesses now are much more in line with what they faced ten years ago, pre-crash.
“The demand for labour, particularly in technical fields, is so high that candidates can essentially pick and choose who they work for and push for higher salaries. This in stark contrast to just four years ago where for many it was a matter of taking what was offered. Employers need to adapt to this changing landscape.”
Employees
Almost half (47%) of employees are not happy with their salaries despite increases. 65% of employers have given salary increases in the last 12 months, while more than half, 54%, expect to give salary increases in the next 12 months.
Nearly half (49%) of all employees said they planned to change jobs in the next year, while 24% said they were considering a move one to two years from now.
Surprisingly, Generation X were as likely to consider a career change within the next year as Generation Y, or “millennials” (both 49%). In fact, Baby Boomers were considerably more likely to, with 63% anticipating a move in the next year.
Citing their reasons for wanting to leave their current job, 25% of all generations said their salary or benefits package; 22% the lack of future opportunities; and 10% the work itself.
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