Over Half Of Irish Companies To Give Pay Increases In 2015

OVER HALF OF IRISH COMPANIES TO GIVE PAY INCREASES IN 2015

57 percent of companies are planning pay increases this year.

The average rises are likely to be 2 percent according to employers group IBEC, with the high tech sector most likely to benefit.

But IBEC chief economist Fergal O’Brien is warning that some domestic companies have not recovered to pre crisis levels.

“If you’re a domestic business, the chances are your turnover is still about 20 percent below where it was in 2007, despite the fact that we’re back growing” he said.

“So we still haven’t broken through the surface in terms of that recovery – and that’s translating into what we’re seeing in the pay trends”.

“The majority of the companies in the domestic economy will still be struggling to award pay increases” he added.

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