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Salary Survey 2021


Link Blog | February 26, 2021

**Click Here to View Our 2021

Salary Surveys **


Outlook for 2021

As part of our service to clients and candidates, Link Personnel is happy to publish our salary surveys for 2021. We publish our surveys in February every year to measure the impact January, traditionally a very busy month, has on salaries. January 2021 has brought some change, but what is remarkable, given the year that has just passed, is that our salary spreads are very similar to what we published in February 2020. 

One of the many unfortunate facts of the last year, is that those least able to afford to lose their jobs have done so. However, outside of the retail, tourism, and hospitality sectors, the job market is functioning relatively normally, with many of the same supply and demand issues seen in early 2020. Pay cuts largely came and went last year, with many businesses rowing back well before Q4. Although some companies have kept cuts in place for now, we see no reason why, for most, market pressures and demand for staff won’t lead to those cuts being rescinded in 2021. Thus, they have not had the impact on our salary guidance that one may have expected 12 months ago. 

Of course, these surveys are simply a snapshot in time. There are multiple factors which move labour markets over periods of days and weeks, let alone months or years, and, in most cases, we have no control over these forces. All we can do is establish where we are today, spot trends and extrapolate. Our salary survey aims to do that, and we feel the salary spreads offer enough room to account for any movement in remuneration during 2021. Indeed, we expect salaries in the private sector to remain flat (+\- 1%) at least up until Q4 of this year. However, it’s important to note that salary is only one component that applicants consider when accepting a job. What we have heard, again and again, in recent years, is that candidate experience, work life balance (including WFH), and benefits are all crucial factors in the decision-making process. That is truer in 2021 than it was 5 or 6 years ago. Salary is a necessary, but not sufficient incentive to attract the right people. 

While last year Brexit, trade talks and elections were factors which could affect the labour market in Ireland, there is only one issue which will shape the economic outlook, and the outlook for salaries this year. Health is equal to wealth, and a healthy population is a necessary condition for sustained growth in productivity and output. We have seen quite clearly how the economy is secondary to much more important things. When we get the health situation right, the rest will follow. Thankfully, there is lots of hope that both public health and the economy will recover in 2021.

We have maintained our staffing levels this year, as well as adding to our search and selection capabilities, in order to enhance our service. We stand ready to provide our help, expertise, and analysis to candidates and clients alike, and we look forward to working with you in 2021.

Cormac Spencer
Director

01 845 4651

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