Over the next six months, the top business priority for Irish leaders is to provide support to help hybrid/remote teams work productively (33%), followed by improving employee retention to avoid new hire costs (30%) and supporting employee career development (29%).
This is according to new global C-level executive research from LinkedIn, the world’s largest professional network, which finds that the current climate is causing concern among business leaders that companies will be forced to wind back progress on important areas of working life such as learning and development (86%) and employee wellbeing (86%)
However, as economic uncertainty threatens to wind back the progress made over the course of the pandemic, flexible working is here to stay - with three quarters of Irish business leaders saying that working from home, flexible and hybrid working are here for the long-term. In Ireland, the share of remote jobs increased to 20% in April 2022. As of September 2022, 14% of jobs in Ireland are listed as remote and these roles are in demand, receiving 20% of applications. Ireland has more remote positions available than most markets, with the UK at 12%, Germany at 10% and France at 6%.
The report shows it is a priority for Irish leaders to keep employees motivated and engaged. This comes as they also recognise people are concerned due to the increased cost of living (38%) and worries over being laid off (28%) are playing on employees’ minds currently. The skill sets needed for jobs has changed by around 25% since 2015 and this number is expected to double by 2027, with upskilling and reskilling employees (30%) a priority for Irish business leaders particularly over the next six months
The data suggests that although the Irish economy is expected to grow next year, a global slowdown is expected to start from this winter. The supports introduced during the pandemic that professionals in Ireland and across the globe benefited from are now at risk.
Commenting on the report, Head of LinkedIn Ireland, Sharon McCooey said, "A motivated workforce is key to gaining a competitive advantage and at a time of uncertainty, impacting this is counterintuitive to what a business needs to survive and succeed. It is crucial to building a diverse and resilient business that can adapt in a fast-changing world, particularly at a time when the majority of people have other pressures such as the higher cost of living on their minds."
She added, "Leaders who think to the future and prepare to invest in their people during these times will be the ones that come out on top. It will be the businesses that are positioning their employees to thrive in the long-term who will outperform competitors and succeed."