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Flexible working key to retaining talent – Ibec

Business lobby group Ibec launched its annual HR workplace trends and insights report at its flagship HR Leadership Summit in Dublin’s Croke Park (19 October).

Among the key findings of the report include:

• 80% of employers are planning for pay increases in 2023, with an average increase of 3.8%,
• 54% of respondents are planning to increase their headcount in 2023 with a high level of competition for talent and skills particularly in IT,
• Although six in 10 businesses have an ESG or sustainability strategy, social initiatives (46%) are trending as a higher focus in terms of attracting/retaining talent.

Director of employer relations Maeve McElwee said the survey shows that Irish businesses are facing talent shortages with greater focus on staff retention initiatives including:

• Wage increases,
• Additional benefits,
• Additional leave,
• Wellbeing programmes,
• Greater accommodation of flexible, hybrid and remote working.

“The Summit spotlights the human resources leader and the challenges facing business including attracting and retaining talent, inflationary demands and large-scale shifts in how people work.

Rapid learning culture

“HR must capitalise on the disruption of the last two years, to nurture new cultures of rapid learning, technology adoption and continuous change,” she said.

A key finding suggests that hybrid and flexible working as business operating models are now a priority when it comes to talent management. 

Employee expectations in flexible working suggest organisations still have some way to go, the survey shows.

The September 2022 research surveyed 329 senior HR leaders on pay, resourcing and trends.