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IrelandSalary and Employment Insights2014

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About the Hudson Salary and Employment Insights

Hudson conducted a comprehensive study: •We surveyed 675 clients and candidates on their salary expectations, as well as some of the employment issues they face.

•We asked employers about their business challenges: if they have been through large-scale internal change programs; employee sentiment; salaries; contractors; and business outlook for 2014.

•We asked employees about their working life: morale, stress levels, engagement, security, workloads, job benefits and salary.

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Key Research Findings

Signs of an upturn: •Businesses more willing to invest in new talent

•Candidates adopting a less risk averse approach to seeking out new opportunities

•Businesses recognise that standing still is not an option

•Three key questions…

1.Are Irish employers ready - in recruitment terms - to adapt to the changing economic conditions?2.Will employers be able to equip themselves with the people they need for the next stage of their development?3.Are employees ready to take advantage of the new opportunities that a recovering economy will create?

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The Rocky Roadto Recovery

• Many businesses still focussed on what the revival could mean to them.

• Not as focussed on staff morale and retention issues

• Employees are beginning to look for other jobs because they have more confidence in the market

• Fundamental difference between the retention strategies that organisations feel will work effectively and what employees are actually looking for.

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2014Recruitment Market

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In theWorkplace

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Uncertainty versusthe Upturn

• 70 per cent of employers had awarded their staff a pay rise within the last 1-2 years.

• 62 per cent of employers believe that 2014 will be a candidate driven year.

• 48 per cent of employers are concerned that more competitive salaries are driving staff to leave.

• 83 per cent of employees said that colleagues are being ‘always’ or ‘mostly’ replaced when they leave the company, compared to 72 per cent in the UK.

• However, 58 per cent of employees said that they had experienced increased pressure in the workplace over the last year.

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The ticking time bombThe employer / employee disconnect

There appears to be a difference of opinion over tactics that businesses are using to keep hold of key members of staff:

Employers

•57 per cent of Irish employers have appraisal programmes in place for their employees.

•55 per cent of employers also offer the option of training programmes.

Employees

•Our survey shows that in terms of what employees value, appraisal systems are not even in their top five.

•Instead respondents see career progression opportunities (74 per cent) and enhanced employee benefits (53 per cent) as high value factors, particularly when deciding whether to stay with an organisation.

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Key Research Findings

• There was a marked increase in fixed term contract (FTC) opportunities during the year, as companies adopted a ‘try before you buy’ approach to hiring.

• It was evident during the year that many companies have raised expectation levels for potential hires. In addition to the required skills and competencies, employers are keen to ensure that there is also a good cultural fit with newly hired employees the firm.

• Factors such as learning and development, flexible work practices, working environment have become more prevalent considerations for candidates.

• Some companies have started to take note of this by investing in learning and development (L&D) and talent management (TM) programmes, this longer term view demonstrates the desire to reduce talent churn.

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What’strending?

• According to the Central Bank, Irish gross domestic product (GDP) is expected to grow by 2.1 per cent in 2014 and 3.2 per cent in 2015.

• Unemployment in Ireland is expected to fall from 13.2 per cent in 2013 to 11.9 per cent this year, followed by a further drop to 11 per cent in 2015.

• 3.5 per cent growth in exports is also forecast for 2014 emphasising that the economic momentum is certainly building, even if overall progress in moderate.

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For further information:

Donal O’DonoghueDirectorHudson Global Resources10 Lower Mount StreetDublin 2

Tel: (01) 256 8715Email: donal.odonoghue@hudson.com