With full employment, surveys show employees want to move out of Dublin
Jackie Maguire, Chief Executive, Meath County Council 8th January 2018
The Irish economy is rocking
More good news this morning with the employers body IBEC forecasting that the Irish economy will grow by 4.8%. This is a fraction more conservative than the 5% growth forecast by State backed ESRI. One way or another, Brexit apart – as we still really have no idea what Brexit may bring, it looks like the government target of full employment will be achieved this year. And we already have the highest number of people working since the foundation of the State, with 2.045m people clocking in each day.
Happy to take a 10% wage cut
Economic theory would have it that if you have full employment and a relatively mobile workforce that you would expect wage inflation as employers tussle for talent. But another piece of reading I did during the weekend was this, very detailed, 104-page employment survey carried out for employment agency Abrivia. The study was done by academics from the Trinity College Dublin Business School (World Top 100 Business School, Economist Magazine 2017). This independent survey confirms what we have being saying for some time. It’s there in black and white, employees will forego up to 10% of their wages to live outside of Dublin.
No tussle for talent in Meath
One of the reasons Meath County Council set up the Make It Meath campaign was to get this message across to future employers. Meath has bucket loads of talent who, unfortunately, are compelled to drive to Dublin and back, every day for work. They don’t want to continue doing that. They would like not to have to waste those hours in a car, back and forth. The Abrivia survey shows that they are willing to make quite a sacrifice in their wages, just to work nearer to home. On top of all the other considerable savings an employer can make by basing themselves in Meath, lower wage rates are a further compelling reason to Make It Meath.
Time to plan
January is planning time for businesses. If you are an indigenous or an overseas business thinking of basing your business in Ireland in 2018, now is the time to talk to our Economic Development Team. We have systems in place that can fastrack your plans, so we can have your located in Europe’s most business friendly region infinitely quicker than elsewhere. We’re ready to talk right now. Every detail and contact you need is available on www.makeitmeath.com and you know, for a prosperous new year, now is the time to act. Do it now.
08 Jan 2018