A recent report from global recruitment consultancy Robert Walters, which surveyed 1,500 Irish professionals and employers, has revealed significant challenges in the hiring landscape across Ireland. The findings highlight the effects of budget constraints on recruitment practices and the resultant impacts on workplace stress, employee satisfaction, and talent retention.
Key Findings of the Report
- Hiring Underqualified Talent:
- 71% of employers have resorted to hiring underqualified talent due to budget limitations.
- This practice, while necessary for some businesses, often results in performance gaps that can affect overall productivity and team dynamics.
- Primary Hiring Challenge – Budget Constraints:
- 46% of employers cited budget constraints as the main challenge in recruiting the right talent. This reflects a trend where companies struggle to offer competitive compensation, limiting their ability to attract top-tier candidates.
- Increased Stress Levels:
- 80% of employers reported noticing increased stress levels among their teams due to hiring underqualified individuals. These increased stress levels can lead to higher turnover rates, reduced morale, and potential burnout among existing staff.
- Compensation Packages and Candidate Expectations:
- Only 17% of professionals felt that current compensation packages met their expectations, indicating a significant mismatch between employer offerings and employee needs.
- 84% of candidates stated they would walk away from an offer if the salary was reduced at the final stage of negotiations. This underscores the importance of transparent and fair compensation practices to secure top talent.
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