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A recent survey carried out by FRS Recruitment, a prominent recruitment agency, has shed light on several noteworthy concerns and trends in the Irish job market. With the participation of 4,347 individuals in April 2023, the survey provides valuable insights into the perspectives of both employees and employers on topics such as the impact of artificial intelligence (AI), salary expectations, remote work, the rising cost of living, and the housing shortage. This article examines the survey’s key findings, emphasizing the increasing apprehension about AI, salary-related issues, shifting work dynamics, and the influence of the housing crisis.
AI’s Impact on Jobs
The FRS Recruitment Employment Insights survey reveals that a significant portion of Irish employees and employers are concerned about the potential impact of AI on their jobs. Four out of ten employers and one in four employees believe that AI will either affect or replace their positions in the future. The Arts, Entertainment, and Recreation sector shows the highest level of worry, with 53% of respondents expressing concerns. Other sectors with notable concerns include Charities and Not for Profit (43%), Banking and Financial Services (38%), Telecoms and Insurance (33%), and Agriculture (33%).
Regionally, the survey highlights that Monaghan and Leitrim have the highest levels of concern at 43%, followed by Sligo at 37%. In contrast, larger urban centers such as Dublin, Cork, Galway, and Limerick exhibit lower levels of worry, with only 19%, 27%, 23%, and 22% of respondents respectively believing that AI will impact their jobs.
Salary Expectations and Job Mobility
The survey emphasizes the significant role of salary expectations in job mobility. Approximately 60% of employees state that they would be willing to change jobs for a salary increase of 25% or less. Furthermore, one in five employees is open to switching jobs for a mere 10% increase in pay. These findings indicate that salary remains a crucial factor driving job transitions.
Moreover, a substantial majority of employees (73%) expect a salary increase within the next 12 months. Additionally, 43% of respondents feel that they are currently underpaid for their roles, believing that their salaries do not adequately reflect their positions. More than half of the employees (54%) believe that changing employers increase their chances of securing their desired wages and advancing in their careers. Additionally, 44% of employees describe themselves as “employed but looking” for new career opportunities.
Impact of Salary on Attrition
The high salary expectations and perceived underpayment among employees have led to increased workforce attrition, according to two out of three employers who reported a rise in attrition this year. Furthermore, 42% of employers believe that salary-related concerns are the main driver of this attrition.
Employers’ Recruitment Outlook and Job Applications
Despite the challenges posed by employee attrition, the survey reveals positive trends in recruitment. Three out of four employers state that they are currently hiring or planning to do so within the next three months. Additionally, four out of ten employers report an increase in the number of job applications they received this year. These findings suggest that there are ongoing recruitment opportunities and a dynamic workforce in the Irish employment market.
Cost of Living and Its Impact
The rising cost of living significantly affects the recruitment market, as indicated by 64% of employers who state that inflation has impacted their recruitment outlook. Approximately 56% of employees are more likely to seek new employment due to the rising costs. In response to these increasing expenses, 30% of employees admit to trying to spend more time in the office to reduce their home heating and electricity costs, while 27% are attempting to work from home more frequently to minimize travel expenses.
Remote Work Dynamics
The survey also explores the topic of remote work, revealing that 90% of employees believe they are either more productive or equally productive when working from home. This viewpoint is shared by three out of four employers who acknowledge that employees are either more productive or have a neutral view on productivity while working remotely. Surprisingly, despite these positive findings, four out of ten employers have been encouraging employees to spend more time in the office over the past year.
Impact of Housing Shortages
The housing shortage in Ireland has a significant influence on the Irish employment market. Nearly four out of ten employees (38%) claim that the lack of accommodation makes them more likely to seek new employment.
The FRS Recruitment survey offers valuable insights into various concerns and trends within the Irish job market. The growing concerns about the impact of AI on jobs, salary expectations, remote work dynamics, the rising cost of living, and the influence of housing shortages highlight the evolving landscape of the workforce. With employees demanding higher salaries and showing a willingness to change jobs, employers face challenges in talent retention and attracting new talent. However, there are positive aspects such as a buoyant recruitment outlook and opportunities for both job seekers and employers in a dynamic market.
retention and attracting new talent. However, positive aspects include a buoyant recruitment outlook and opportunities for both job seekers and employers in a dynamic market.
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