Salary and Benefits Survey Results 2018
Matrix Recruitment’s Salary & Benefits Survey 2018
48% of workers never rewarded for overtime according to Matrix Recruitment Survey
53% of people admit to feeling stressed at work
37% miss out on seeing children and family
31% miss social engagements because of work
But 70% still feel their job offers a good work/life balance
2nd January 2017: Despite the buoyancy in the Irish jobs market, a new study released today shows that 53% of workers in Ireland are feeling stressed at work and almost half, (48%) are working extra hours for no additional reward.
Matrix Recruitment’s Annual Salary and Benefits Survey of more than 1,700 workers highlights that women are more stressed than men at work (57% v 47%) and that the main cause of stress is having too much work to do, which was reported by 52% of respondents. 44% of workers said that they do not receive enough support from management or colleagues and having to work late most days of the week is stressing out 33% of Ireland’s workers.
Extra hours but no extra benefits
Working additional hours is not unusual for today’s workforce; 22% receive overtime payments whilst 20% are awarded days in lieu. However, our 2018 Salary and Benefits Survey showed that almost half (48%) are not rewarded for working outside of the hours for which they are contracted.
“We didn’t expect this figure to be so high,” says Matrix Recruitment’s Joanne Foley and. “Anecdotally we know that people are working longer hours and I don’t think it is unreasonable for employees to work late from time to time, particularly during busy periods. But late nights and weekend hours should be the exception, not be the norm and should not be expected of an employee without reasonable recompense.”
Despite the late nights, 70% of workers in Ireland say that they have a good work/life balance and interestingly, that figure is the same for those with children as for those without.
The survey also asked about people’s intentions to look for a new job next year. Of those who said that they were not planning on moving job in 2018, 39% said they were happy in their current position and 24% said they would not move out of loyalty to their employer.
The majority of people surveyed are contracted to work between 31 – 40 hours a week (76%) and 12% are contracted to work more than 41 hours but, according to Joanne Foley, 50% actually work more than 41 hours every week. “Again these numbers are very high and demonstrate how the working week is evolving from one where 40 hours was the average, to one where anything up to 60 hours is no longer unusual. I don’t see this as a positive trend as it doesn’t support the notion of a good work/life balance and can lead to dissatisfied and burnt out staff, so can be counter-productive.”
The impact of work on home and social life
The survey shows the significant impact work has on home life with 37% of those surveyed admitting that working late means missing out on seeing their children, family or friends. Social life also takes a hit with 31% missing out on social engagements because of their work, according to our Salary and Benefits 2018 Survey.
Work also creeps into home life by way of emails and phone calls according to 30% of respondents and more than half, (51%) of workers agree that they find it hard to switch off from work when at home.
Pay rise expectations not in line with reality
When it comes to pay rises, expectations are not in line with reality. 56% of those surveyed said that they expected a pay rise in 2017, with men more confident of a salary increase than women (61% v 53%). However, only 37% actually received a pay rise, which is broadly in line with last year’s survey results.
“When it comes to the annual pay rise employees are a pretty optimistic lot, and this is a trend we have noticed year-on-year,” said Joanne Foley. “Notwithstanding the fact that reality falls far short of expectations, 66% of workers are still anticipating a pay rise in 2018. So optimism prevails, but for Ireland’s workforce, that’s not necessarily a bad thing.”
Of those workers who received a pay rise in 2017, 37% received less than €1,000, 39% got a pay rise of between €1,501 and €2,500 with a further 20% getting more than €4,000.
Our survey shows that many people are reticent about asking for a pay rise. More women (41%) than men (27%) reported not being comfortable at all when it comes to asking for more money, which could be hindering their long-term financial prospects.
Joanne Foley says that employees have nothing to lose by asking. “A great way to incentivise and motivate yourself is to think about the end goal; more money in your pocket. If the response is not favourable, perhaps by opening up a conversation you can negotiate other benefits such as additional holidays, flexi-time or a promotion.”
27% would consider a pay cut for a better work/life balance
Most people considering moving jobs would not be willing to take a pay cut. However, 27% did say that they would take a pay cut for a better work/life balance. One in five said that they would move to a job with a lower salary for better career prospects and 16% would take a drop in pay for a shorter commute.
“In the main, people do not want to take a pay cut when they change jobs and usually, moving jobs is a great way in which to increase your salary,” said Joanne. “However, in line with many international studies, we have found that money isn’t always the most important factor when it comes to job selection and there are other elements at play. This means that employers need to look at the bigger picture and consider what other benefits they can offer candidates to create an attractive remuneration package and compete in the jobs market.”
Joanne Foley predicts a positive outlook for 2018 and expects further growth in opportunities outside of the capital in sectors such as pharma, manufacturing, finance and tourism.
“We have a strong geographical spread and our offices across the country are reporting really good levels of growth in almost all sectors and this is a trend we see continuing throughout 2018.
“The Dublin jobs market is very dynamic, particularly in the areas of IT and finance, but people looking at their long-term career prospects should take a look at what is available outside of the capital. There are fantastic opportunities, very little variance in salary scales and invariably, a shorter commute. Many of our candidates are considering a move out of Dublin, primarily because of the property market and the paucity of good rental accommodation, and I think this will be an emerging trend during 2018 and 2019.”
About the survey
The Matrix Recruitment Salary and Benefits Survey was conducted online in November 2017 amongst 1,754 people (58% female, 41% male) across a broad range of industries including accountancy and financial services, advertising and marketing, the IT sector, healthcare and pharmaceuticals, manufacturing, hospitality, tourism, food & drink and construction.
Matrix Recruitment Group is one of Ireland’s leading recruitment firms. Established in 1998 and with offices in Dublin, Waterford, Carlow, Athlone and Galway, Matrix specialises in a number of job categories including accountancy, financial services, engineering, manufacturing, quality & laboratory, supply chain, HR, office support and sales & marketing.
www.matrixrecruitment.ie. @Matrixrecruit #MatrixSalarySurvey
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