Salaries are expected to rise by between €2,000 and €10,000 this year across a number of sectors, according to a survey by Matrix Recruitment.
It said this anticipated increase has been prompted by a talent shortage compounded by inflation and the rising cost of living.
"As the employment landscape continues to evolve, It's impossible to predict all the changes that will occur as we move into 2023, but it’s clear employers are keen to ensure staff are looked after as the cost-of-living crisis continues," said Kieran McKeown, MD of Matrix Recruitment.
"From speaking with our clients, those who can increase salary packages will be doing so in the months ahead," he said.
However, Mr McKeown pointed out that pay increases will not be a viable option for every company.
"Companies that are not in a position to increase salaries can help in other ways, particularly when it comes to employee benefits," he said.
"Remote work, bonuses, free lunches, WFH and fuel allowances, or access to a financial wellbeing expert can make a difference.
"Happy employees mean less attrition and greater productivity, both of which contribute to the success of a company, so it pays to look after your staff," he added.
According to the Matrix Recruitment's Salary Guide, the banking and finance sector remains one of Ireland's strongest industries.
Despite a predicted slowdown in GDP growth for Ireland in 2023, Matrix Recruitment said the financial sector is expected to remain buoyant, and recruitment will continue in this area in the year ahead.
It said salary bands will remain predominately the same as 2022, with increases in certain areas where recruiting talent remains an issue.
Starting salaries for funds oversight officers are expected to rise by as much as 22% in Dublin next year, according to the salary guide, while regional salaries in this area are predicted to increase by around 25%.
The salary guide also reveals that demand for talented supply chain professionals has surged in the past few years.
"With a limited talent pool to choose from, the employment market is highly competitive and weighed in the candidate's favour. Consequently, employers are willing to pay handsomely for the right candidate," Matrix Recruitment said.
Meanwhile, the demand for qualified laboratory, quality scientific, R&D and operations personnel is also predicted to remain high in 2023.
However, according to Maxtrix Recruitment, talent in this area is proving to be a scarce commodity.
