More than half of job hunters have said that the cost of accommodation is a factor when weighing up applying for new jobs, according to a recent survey.
reenhouse, a hiring software company based in New York, recently released its Candidate Economic Sentiment Report, revealing the rising cost of living continues to have a significant impact on the Irish job market. The report surveyed over 500 employees in Ireland.
According to the report, over 54pc said that the cost of accommodation is a factor when looking at the location of roles. Most candidates (82pc) believe employers should offer hybrid working because of current accommodation costs.
Colm O’Cuinneain, Greenhouse EMEA’s general manager, said the labour market is entering a slow down, but is still in a strong position. He added that changes to current hiring levels may be short lived, so firms should use the time to invest in hiring strategies.
“In Ireland, there is a lot of uncertainty because while the labour market is still quite competitive, people are understandably concerned about what a recession may mean for job security,” he said. “Notably, research is showing that employees feel the housing crisis should be factored into flexible work policies, if not, companies may lose out on talent.”
Research showed employee expectations remained high
The report also revealed that over half of respondents would not move or look for a job if Ireland entered a recession in 2022, with 54pc believing one is inevitable.
The research showed that job security, high wages and flexible working were among the top things Irish employees most value in terms of their employment.
Despite the economic outlook, the survey showed more than half of respondents received a pay increase this year, with over one-third receiving more than a 5pc wage increase.
Irish employees also remained optimistic, with over half not anticipating pay cuts even if there is a recession. Despite concerns of a downturn, 42pc expect to see their salaries increase this year.