Two in three people feel underpaid in their current employment in Ireland.

That is according to a survey conducted by IrishJobs on 1,224 professionals from businesses all over the country.

They found that the Irish labour market is “fast-evolving” with 44% of respondents saying they had received a pay rise in the last 12 months alone.

However, the survey also found a sizable 63% of workers are not given the chance to negotiate salary increases with their employer.

Inflation

Head of IrishJobs Sam Dooley said wages are yet to catch up to the high levels of inflation we have seen in recent years.

“While the rate of inflation is moderating, wage growth continues to lag behind the level of increased costs,” he said.

“However, this landscape is expected to shift positively for workers, with the latest quarterly economic bulletin from the Central Bank predicting that compensation in real terms will grow over the next three years.”

Of those who did receive a pay rise in Ireland over the last 12 months, three in four respondents to the IrishJobs survey said it only increased by between 1-5%.

They also found that these salary increases did not match the expectations of 62% of respondents.

Compensation packages

Mr Dooley said employers must have more attractive compensation packages to attract staff.

“With many businesses struggling to keep pace with demands for higher wages, expanding benefits and perks can be an important means of creating a more attractive proposition for workers without breaking budgetary constraints," he said.

“Our research shows that commuter perks such as free and subsidised parking that can offset costs are highly popular among employees.

“Flexible working structures continue to be a highly popular aspect of the employment offering.”

Mr Dooley added that employers will also need to provide remote working options to meet the “evolving needs of potential talent”.

A man working in an office. Credit: Roman Lacheev / Alamy Stock Photo