Employers 'optimistic' for 2023 and are looking to hire more staff - study

Employers remain optimistic and plan to hire more staff next year despite cost-of-living challenges, a new report has found. 

The news comes after a number of recent employment setbacks with a number of tech companies including Twitter and Facebook reducing staff. 

Maureen Lynch, operations director at recruitment company Hays Ireland, said: "Despite headlines in recent weeks suggesting a period of economic uncertainty is on the horizon, our 2023 Salary & Recruiting Trends Guide paints a brighter picture and reaffirms that 2022 has been a positive year of economic growth in Ireland.

"Our data shows that, on balance, employers remain optimistic that 2023 will see further economic and job growth across sectors, including accountancy and finance, engineering, and healthcare."

However, challenges will persist in the year ahead, Ms Lynch said as employers and employees "continue to grapple with the rising cost of living and inflation and a more cautious mood in the Irish tech sector".

"Skills shortages remain a persistent problem for employers, the majority of whom have had to increase wages to both attract new talent into the workplace and retain in-demand existing employees. This is a trend that shows no sign of slowing down in the year ahead," she said.

The survey finds that more than half of employers, 61%, are reporting that the cost-of-living crisis is the biggest external challenge they expect to face next hear.

A further 64% said their biggest internal challenge will be staff retention in the coming year.

The guide also finds that  84% of employers increased salaries over the last year, compared to 56% who did so the year prior. A total of 58% say this is a direct result of the rise in the cost of living.

A large majority, 79%, of employers expect to increase salaries again in the next 12 months.

In addition, 42% of employers said pay remains the top reason employees moved jobs last year.