Growth in top FDI sector jobs continues

By Business & Finance
14 January 2014

This year, 20% of employees expect a salary increase as standard with 25% negotiating a pay rise. That’s according to Cpl’s Employment Market Monitor Report which shows job postings within some key FDI sectors continue to rise since reporting began in Q1, 2011.

There has been an overall increase in job postings in 2013 with the number of jobs posted up 21% year-on-year in Q4. The 2013 index reading of 150.5 is significant compared to 2012 (118.4), and 2011 (100).

More than 20% of job seekers who responded to the survey believed that a payrise would be standard in 2014. A further quarter of respondents believed there was room to negotiate a pay rise. The majority, however, (57%) believed there would be no change to their wages this year.

Nearly half of job seekers are looking for jobs overseas;10% believe they have no choice but to look abroad and 37% have already done so.

Over half are unaware of the opportunities which are, or will be, available to them through Government initiatives such as Momentum, a programme which is providing 6,500 job seekers with the necessary skills to re-enter the workforce.

It is believed that long-term unemployed candidates have a slim chance (6-13%) of getting a job without intervention. However over half (55%) of those who have completed Momentum through Cpl are currently now in employment. Nearly a quarter (24%) are completing their work placement and 3% have gone on to complete other further education.

Ratings sites such as Glassdoor.com are also impacting the jobs market where 62% of job seekers are assessing the reputation and ratings of potential employers. However, because there was a general belief by job seekers that this was still an employer’s market, ratings websites are really only an issue for candidates who are in high-demand.

Peter Cosgrove, director, Cpl Resources said: “Our research shows that the experience is very different for individual job seekers. Those with the right qualifications, skills and experience are in high demand. Others are struggling with a feeling of unemployability. However, programmes such as Momentum are designed around the specific needs of Irish employers and give job seeking participants the training and placements to help win long term paid employment.”

Commenting on the report, Ronan Lyons, assistant professor in Economics at Trinity College Dublin, said: “It seems that job seekers still view it as an employer’s market so the majority of workers expect no change in their salary in the year ahead.”