Talent Trends for 2023
The year 2022 brought with it unprecedented levels of volatility and change. As the impact of the Covid-19 pandemic took hold, organisations had to adapt and redesign their structures to accommodate the new reality of flexible working. At the same time, trends such as "The Great Resignation" saw many people leaving their jobs in search of new opportunities. Employers have had to reimagine their recruitment and retention policies to keep and acquire the best talent available.
To better understand the state of the talent market in Ireland, Cpl conducted a survey of 2,050 employees and 763 employers in October and November of 2022. The results provided valuable insights into the current state of the market and the trends shaping it.
One key insight is, while 61% of businesses surveyed are experiencing talent attrition, the Irish talent market grew by 8.7% to 2,554,600 persons in the year to Q2 2022. This suggests that while some people are leaving the workforce, others are seeking new opportunities, often driven by a desire for higher pay and improved benefits in light of increased responsibility and workload. Inflation was also a major factor, with 82% of employees citing the rising cost of living as a main reason for seeking higher wages.
To help employers navigate this complex landscape, Cpl has compiled a range of recommendations and insights based on the latest data and trends. In the following sections, we will delve deeper into the perspectives of both employers and employees, examining the challenges and opportunities facing the Irish talent market in the coming year.
We invite you to explore the 5 key insights and trends which will shape the talent market over the next 12 months and beyond.