An economic context for pay negotiations. Are your employees seeking pay increases?
We can see that 2015 has generally been a strong year for Ireland's economic recovery. As a result, we see job creation, an increase in the cost of living and competitiveness pressures.
The majority of small firms have been in wage freeze/reduction mode in previous years, but in economic growth periods, our employees can often seek pay increases.
Employees can be presented with better opportunities in the labour market and stronger earning potential away from their current employers in times likes these. Retaining talent is key for small firms as they face growth periods of their own.
The SFA has produced a detailed guideline on the economic context for pay negotiations to equip managers with up to date statistics and insight into the following:
- Our economic outlook
- Pay intentions across sectors
- Employment figures
- Cost of living & inflation updates
- Competitive pressures
This publication will enable managers to have logical discussions with their employees about pay reviews and the economy, as well as setting expectations for future pay talks.
Download a copy of the publication on our website.
For advice on carrying out pay discussions or implementing a quality salary review process, contact Jonathan Callan, SFA Executive on 01 605 1668, or email firstname.lastname@example.org.