Download a copy of our 2022 Salary Guide below
Osborne 2022 Salary Guide Executive Summary –
Shona McManus Osborne CEO & Owner
While 2020 and 2021 will always be remembered as a time of exceptional challenge, change and adaptability, 2022 has kicked off with a candidate driven market and a war for talent. Candidates are in the driving seat and demands for not only financial but welfare driven benefits have increased exponentially.
Technology has been the saving grace of the past two years and has perhaps changed the way we work forever. Increased flexibility and a work/life balance has in the past been a major selling point in terms of attracting and retaining employees. As we have returned to the workplace, a more hybrid style of working is taking centre stage which includes a blend of working onsite and remotely as candidates and employees no longer want long commutes.
The talent pool has been widened exponentially with employers no longer restricted to hiring staff within commutable distance. The benefits of this hybrid model, which includes working full time on site, full time remotely or a blend of both, has been felt by businesses in regional locations who are now more then ever facing competition from larger multinationals who can offer higher salaries and benefits with a working from home model. We have had many instances of clients in Dublin for example, onboarding new employees who live in Cork or even internationally to work with their teams in Dublin.
Covid-19 certainly catapulted the 'way we work' conversation years ahead into the future. In our recent webinar survey of 150+ HR professionals, business owners and people leaders, 84% of respondents are now offering hybrid or fully remote working options.
Several sectors and industries have thrived over the past 12 months including technology, life sciences, pharma, food production and manufacturing, financial and retail (grocery).
Organisations have continued to hire and onboard and our Osborne Talent Series Webinar Survey revealed that 79% of the clients surveyed intend to recruit in the next six month
The war for talent is raging again with Employers finding themselves in the midst of acandidate driven market. Ireland is rich with talent and is considered a knowledge economy with a highly advancing skilled workforce. A strategic objective for the Government is to continue to focus on developing skills for the future and future of work.
With that being said, we are currently seeing an increase in salaries possibly fueled by the significant rise in counter offers being made. We have seen counter offers in the region of €5 - €13k more and in one instance a candidate was offered €20k more to stay with their current employer. From our Talent Series Webinar poll, 67% of clients have increased salary and/or benefits since the start of 2022. Of those, 54% have increased salary and/or benefits by 3% or more.
Markets are moving, trends are moving up and down all the time. What’s here and happening today could change in as little as 4 weeks time. Combine this with a changing workplace and hybrid working models the new norm looks set to be an exciting, dynamic and progressive future.