Positive Work Culture a Priority
19th July 2023
Dublin Chamber’s latest business outlook report has flagged a wide-ranging skills deficit prevalent among Dublin firms, with one in two Dublin businesses reporting deficits in industry-specific skills, one-third of firms reporting deficits in management skills, and one in four reporting communication skills shortages. The scarcity is also notable in green skills and cyber security.
One in two Dublin businesses report deficits in Industry-Specific Skills
Aebhric McGibney, Director of Public and International Affairs said “Dublin firms repeatedly report their frustration in accessing pools of appropriately skilled labour and the cost involved in doing so, with three in four Dublin businesses noting wage demands as their greatest driver for increasing business costs over the past twelve months.
Amidst the turbulence of the current market, we asked Dublin firms for their most effective strategies in retaining their current staff and how they are managing, if at all, to successfully attract new employees with the right skill sets.
Flexible and remote working was identified by four in five firms as the most effective means of attracting and retaining staff and notably, positive work culture ranked second, surpassing competitive salaries.
That a positive work culture has become more attractive to both prospective and current employees than a competitive salary, indicates a seismic shift in employee priorities. This aligns with emerging trends observed over the past year within our surveys, where
employers have increasingly prioritised employee health and well-being over a broad range of metrics.
These factors have become paramount considerations for employees when selecting their place of employment, and as has become evident in our surveys, employers are taking heed. However, it is important to note that successful tactics, no matter how effective, may become redundant if the current labour market continues to tighten. The government must actively support the expansion of the labour market to ensure sustained growth for businesses.”