Ibec publishes findings of HR Update 2022 report
Ibec, the group that represents Irish business, today launched the findings of its annual HR Update 2022 Workplace trends & insights report at its flagship HR Leadership Summit in Croke Park.
Amongst 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. There is a high level of competition for talent and skills particularly evident for those with IT skills.
• Although 6 in 10 businesses have an ESG or sustainability strategy, social initiatives (46%) are are trending as a higher focus in terms of attracting/retaining talent.
Speaking at the event, Ibec Executive Director of Employer Relations Maeve McElwee outlined: “The findings of today’s Ibec HR Update 2022 report spotlight the many challenges and opportunities facing HR practitioners and indeed, the broader business community.
“Set against a background of continuous disruption in the new world of work and changing economic headwinds, the survey shows that Irish businesses are facing talent shortages resulting in greater focus being placed on staff retention initiatives including wage increases, additional benefits, additional leave, the provision of a variety of wellbeing programmes and greater accommodation of flexible, hybrid/remote working.
“Today’s Ibec HR Summit is an opportunity for HR practitioners to hear best practices in navigating these challenges from renowned international academics, CEOs and HRDs. 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. HR must capitalise on the disruption of the last two years, to nurture new cultures of rapid learning, technology adoption and continuous change.”
Other key findings of the report include:
• Hybrid and flexible working as business operating models are now a priority when it comes to talent management. Going forward, employee expectations in terms of remote/hybrid working are anticipated to have the greatest impact suggesting there is still some way to go for organisation on this.
• Diversity and inclusion continues to be a priority for many organisations with supports most prevalent in larger organisations. Respondents are most likely to have gender balance & equal opportunity policies in place.
Ibec’s annual HR Update report captures key developments and trends across Irish workplaces. Ibec partnered with Amárach Research to undertake our research in September 2022 where 329 senior HR Leaders participated in the survey and shared their views on pay, resourcing and HR trends.
The Ibec HR Summit is supported by strategic partners Accenture, Irish Life Health and Microsoft, with associate sponsor DeCare and media partner The Irish Times.