Report Suggests a Majority of Employers Plan to Give Pay Rises

75 per cent of employers plan to give pay rises to staff in 2018, according to a report from Irish recruitment agency Cpl. The findings were taken from the Cpl Employment Market Monitor 2018 Q1, which refers to the total number of employment opportunities in the following four sectors: IT & Telecoms; Science, Engineering & Supply Chain; Sales & Marketing; and Accountancy, Finance & Banking. The report also found that 41 per cent of employers cited better career opportunities as the most common reasons why they lost employees, with better salaries and promotions being mentioned by 33.3 per cent.

In the first quarter of 2018, there were 2 per cent more jobs listings than in the same period a year previously. This marks a return to year-on-year growth, following three quarters of declines. In the Science, Engineering & Supply Chain sector, jobs posted were 2 per cent lower in year-on-year terms, while in the Accountancy, Finance & Banking and IT sectors, there was little change on a year ago. In the Sales & Marketing sector, however, there was year-on-year growth of 25 per cent.

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Commenting on the report, Ronan Lyons, Assistant Professor of Economics at Trinity College Dublin, said: “The latest figures show a welcome return to year-on-year growth in the number of jobs posted in the four key sectors covered in this report. While that growth is still modest, it is encouraging that three quarters of firms intend to increase salaries this year, while only one third are feeling the effects of Brexit at this time.”

                     

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Joseph O'Connor

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