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70% of Irish workers intend to stay with employer for at least the next 2 years

Written by Robert McHugh, on 23rd May 2022. Posted in Ireland

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Almost three quarters of employees in Ireland intend to remain with their employer for at least the next two years, according to new research from WTW.

The 2022 Attraction & Retention research was conducted during December 2021 and January 2022 as part of the wider Global Benefits Attitudes Survey. Respondents include 828 employees in Ireland from large and midsize private employers, representing a broad range of industries.

Whilst most employees plan to remain with their current employer for the next two years, about a third are open to considering offers, should they come their way. Security is top of mind for employees: pay (50%) and job security (37%) are the key factors to attracting and retaining talent, followed by flexible work arrangements (32%).

The research also found that employees in Ireland who believe that their employer has been successful in supporting wellbeing during the pandemic are more likely to be engaged, productive and to stay. The research shows 59% of employees in Ireland felt supported by their employer over the last two years, while only 16% did not. Furthermore, 82% of those who feel supported by their employer would like to remain with them for the next two years compared to 45% of employees that do not feel supported.

The retention impact of good benefits programmes stands out in the research. When benefits packages meet employee’s needs, they are almost twice as likely to say they would like to remain with their employer for the foreseeable future. When looking at the benefits that matter, 42% of employees in Ireland listed retirement as the number one benefit that they want their employers to focus on. This is followed by flexible work (40%), health (34%) and career (29%).

Commenting on the research, Employee Experience Leader, UK & Ireland at WTW, Sarah McDonough said, "More and more we are seeing retirement and flexibility cited as key drivers of career satisfaction for workers in Ireland in their quest for career satisfaction. We know from our research that these concerns play a critical role in creating an experience for employees that is both differentiated and attractive. Employers must look to the strength of their overall packages in relation to the needs of their staff."

She added, "In many cases, this means enhancing health and retirement benefits, offering flexibility, and focusing on staff wellbeing. A more holistic employee experience will ensure that companies in Ireland can attract and retain staff, reskill, and upskill existing team members and optimise job design."

Source: www.businessworld.ie

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