Salaries set to increase, but it’s work/life balance that matters most

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Salaries set to increase, but it’s work/life balance that matters most

As the new year gets under way, those in talent acquisition roles are looking for new ways to attract top candidates to join companies.

According to the Robert Walters 2019 European Salary Survey, salaries are to continue to increase between 5 – 10% on average across most sectors. However, as the Irish market is predominately candidate driven, there are a number of other key trends that will effect the hiring and recruiting industry in 2019.

Louise Campbell, Managing Director of Specialist Recruitment Firm Robert Walters Ireland, briefly outlines what to expect of the hiring landscape in 2019 and the key trends that will impact Dublin.

“While there is no doubt that Ireland will remain a hotspot for international business, the decision of Brexit will play an important role in recruitment levels throughout the year. High levels of candidate confidence coupled with new job creation will see an increase in headcount across the majority of industries – most notably within finance, legal, compliance, technology and cyber security.”

What do candidates want
In the war for talent, hiring managers will struggle to fill roles if they do not keep up to date on what candidates want. Although an increase in remuneration still remains one of the top reasons to change jobs, it is flexibility and balance that candidates want most.

With over 84% of professionals ranking work/life balance as very important when determining job satisfaction, organisations should make sure to focus on this as a tool to help attract new hires and boost retention rates. The option for flexible working will continue to be a priority for jobseekers in all industries, as candidates pursue this option from junior level upwards.

“Along with flexibility and work/life balance, diversity in the workplace still remains an important factor with candidates. And this will remain a priority for legal, finance and tech sectors who will seek to increase the amount of female hires at the senior end of the market.”

Recruiting in this market
As in previous years, salary remains a key factor when candidates consider moving roles with 53% of professionals expecting salary increases of up to 6% in 2019. However, the candidate short market will no doubt bring about a set of different trends that hiring managers will need to keep on top of in order to retain and attract top talent in 2019.

“Companies will need to make sure to focus on speeding up and streamlining their recruitment processes in order to secure their preferred candidates, as many jobseekers are involved in multiple processes at the same time. Organisations with hard to fill roles will also need to look outside of Ireland when looking for their next hire and source international talent wanting to make the move to the Emerald Isle.

But as candidates choose where they want to work, the importance of employer value proposition is now greater than ever. Employers will need to make sure to not only highlight compensation and bonus but all other benefits of the organisation including company culture, the work environment, holidays and progression opportunities.”

As the workforce demographic changes, the needs, wants and expectations of job seekers will continue to evolve and employers will  need to keep up with these changes in order to secure and retain top professionals in Ireland.

Article Published: 08/01/2019