Fast track promotion, flexible working conditions and an emphasis on wellbeing are just some of the issues employees consider when taking on a new role. Despite an optimistic outlook being maintained by employers and employees for 2019, new research from Lincoln Recruitment specialist’s ‘a new decade of work’ salary and employment insights has revealed a significant mismatch of expectations between both parties.
Recent research from Lincoln Recruitment Specialists in association with Alan Ahearne, Professor of Economics & Director of the Whitaker Institute at NUIG revealed that, in October the unemployment rate in Ireland was 4.8%. This figure has dipped to under 5% for the first time since the Irish financial crisis.
With 425 thousand new jobs created since 2012, when it comes to new employees the 2020 survey has found:
- 36% of employees expect a promotion within 2-3 years of being in a new job
- 35% of employees say work-life balance the most important factor in considering a new role, besides salary
- 37% of employees expect to move jobs in the next 12 months
- 40% of employees would look for a new job (either actively or passively) if passed over for promotion
- 30% of employees say that when working remotely, they work a higher number of hours than when in the office
Other interesting findings reveal a highly competitive environment for employers. With 76% of companies planning on recruiting staff over the next 12 months (vs 68% 2019) research has also revealed 69% of employers experienced moderate to extreme skills shortages over the past 12 months of this year.
The report highlights a gap in employer/employee expectations and, with a shortage of talent combined with low unemployment rates, the onus on employers to remain competitive within the Irish jobs market has intensified. When it comes to employees choosing the right workplace, the study found many consider flexible working the most important benefit received (70%) alongside health insurance (64%) and an increase in annual leave entitlements from a standard 20 days to 25 (63%).
Speaking about the findings of the Lincoln Recruitment specialist’s ‘a new decade of work’ salary and employment insights 2020 report, Shay Dalton, Managing Director said:
“Our research reveals a significant shift in employer/employee expectations, particularly when it comes to promotions. With 40% of employees actively looking for jobs if passed over for promotion, this indicates a need for employers to produce competitive career advancement plans if they are to attract talent and retain staff. Today’s employees possess high expectations when it comes to choosing the right workplace with the right benefits. Employees are actively looking for work perks such as flexible working, health insurance, leave days and access to education. With the unemployment rate in Ireland dropping once again, employers are finding it more difficult to find talented people across industries such as accounting and finance, construction, marketing and digital, retail, legal and IT among others. The Lincoln Recruitment ‘a new decade of work’ salary and employment insights report will help employers identify trends within the workplace and assist them in forward planning for 2020.”
Alan Ahearne, Professor of Economics & Director of the Whitaker Institute at NUIG added:
“This latest report shows Ireland’s labour market is now essentially at full employment – meaning there is a job available for anybody seeking one. Despite the recession in global manufacturing, the well-oiled Irish employment market shows few signs of flagging, with the most recent readings indicating that employment jumped 53,700 (or 2.4 per cent) in the third quarter of 2019 compared with the same period a year earlier. Most of this increase was accounted for by job gains in the services sector, with employers in the education, financial services, ICT, human health and public administration sectors continuing to add jobs. These latest gains bring total employment across Ireland to a record high of 2.33 million.”
About the Lincoln recruitment ‘A new decade of work’ salary and employment insights survey 2020
This survey was conducted over a four-week period in Autumn 2019. Current salary information was obtained from Lincoln’s internal index and quality checked against survey data. To ensure that Lincoln Recruitment Specialists have a complete understanding of how Irish businesses and professionals feel about the current market and upcoming year, market trends were researched by interviewing employers and surveying professionals across a variety of sectors currently operating in Ireland, and through the experiences of Lincoln Recruitment’s specialist team. It brings together the thoughts of over 1,400 respondents from key focus sectors and presents a broad insight not only into people’s salaries but their opinions on their current jobs in addition to employer’s opinions on the workplace.
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