One in five Irish workers feels underappreciated in their current position, employee benefits consultants, Aon has said. But a more significant two-thirds of those who responded to its Human Capital Employee Sentiment Study said they were considering changing jobs in the next 12 months.
The study of more than 9,000 employees across 17 industries and 23 countries, including Ireland, looks to identify the workforce initiatives that are most valuable to professionals in a competitive market for talent.
Aon said one way of better engaging their staff is to reassess the benefits they offer.
The most valued benefit from Irish respondents to the survey was paid time off – eg better holiday arrangements. After that, the benefits most valued were company contributions to a pension, medical insurance, work/life balance and remote/flexible work arrangements.
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Globally, medical work/life balance ranked second only to medical cover and before pay, career development and retirement benefits.
The good news for employers is that 54 per cent of Irish employees believe their compensation is fair compared to similar roles in their industry. However, one in five believes there is still a gender pay gap in their organisation.
The 67 per cent of Irish workers looking at changing jobs is noticeably ahead of the 60 per cent figure across the global report.
In Ireland, results show that younger Generation Y workers – those born between 1981 and 1996 – rank paid time off as the most valuable benefit, while for older Generation X colleagues born between 1965 and 1980, retirement savings are considered the top benefit.
“Our results show that employees are putting an increased focus on meaningful benefits such as paid time off and flexible working in the workplace,” said Aon’s head of human capital in Ireland Mairead O’Mahony. “As employee expectations evolve, personalising benefits programmes can better support employers to meet the needs of an increasingly multigenerational workforce.
She said the results of Aon’s survey show that 66 per cent of employees would be willing to compromise on existing benefits for a better choice of benefits.
In terms of career development, the report says that just over a quarter of Irish employees say their employer does not offer sufficient upskilling and training.
Just three in 10 workers are engaged in developing new skills to support and enhance their role.
One in five employees is unsure of the impact of artificial intelligence (AI) on their jobs, indicating a growing need for greater communication and engagement around the use of automation and AI in the workplace, Aon said.
However, globally, there is limited enthusiasm to enhance artificial intelligence skills, with just over a third of those who took part in the survey feeling compelled to adapt to this new technology.
“Organisations are only as strong as their people. As firms face heightened volatility this year, their success will depend on developing an agile and resilient workforce fit for the future,” said Ms O’Mahony.
