The majority of Irish employees are unhappy with their salaries and nearly one in three of them say they plan to leave their jobs within the next 12 months as a result. This is according to the latest annual salary and recruiting trends report from Hays Ireland. The survey is based on 1,700 survey responses from employees and employers across the country. Three quarters of employers say they have given pay rises to staff over the past year but 58% of workers say they are still not being paid enough.

Maureen Lynch, Director at Hays Ireland, said the country is heading towards full employment, with an unemployment rate of 6% at the moment. That rate is expected to go under 6% before long. Maureen Lynch said some areas are actually seeing full employment levels already, which presents a challenge for employers. she said that employers have highlighted the fact that they are seeing the biggest competition in the skills area internally within their own industry. That means that employers are sourcing from the same pool of talent, which can often be limited and small.


The Hays survey reveals that the technology, pharmaceutical and construction sectors - in particular engineering - are the areas where skill sets are most in demand. 

The issue of work-life balance is also a key issue for employees, with two in five workers rating the balance as average or poor, while employers are also seeing a rise in absenteeism. Ms Lynch said that employers are concerned about the pressure the skills shortage is putting on their employees with 36% noting a drop in morale as well as a slight increase in the levels of absenteeism. She said that 42% of workers are not happy with their work life balance and 25% of employees - when they are looking for a new job - value this as very important. However, just 15% of employers think the same, she added.

***
MORNING BRIEFS - Tullow Oil has completed the refinancing of $2.5 billion in debt. Tullow has been under pressure due to falling oil prices and had to raise €700m by issuing new shares earlier this year to pay down some debt. The refinancing of its bank facilities before year-end, as announced this morning, had been a priority.

*** Facebook's Irish subsidiary had revenue of €12.6 billion last year. It made a pre-tax profit of €174m - a margin of just 1.3% - way below its parent company's 40% plus profit margins. Administrative expenses rose from €7.7 billion to €12.1 billion. They included royalty fees for use of certain intellectual property, a mechanism often used by multinationals to reduce taxable profits. Facebook paid €30m in tax here.

*** Lift sharing app Uber lost almost $1.5 billion over the three months to the end of September. Revenue and customer bookings rose compared to the previous quarter but its losses were almost a third higher. Uber's loss rose in part because of legal costs. The company is about to square off against self-driving car company Waymo which is suing Uber claiming it stole confidential information.