An article in today's Irish Times has said that almost two thirds of small Irish companies expect rates of pay to remain unchanged this year, according to the Small Firms Association. The SFA have said costs remained tight among small firms, putting pressure on non-pay benefits such as pensions, health insurance and top-up leave entitlements. The survey of pay and conditions of employment in 1,345 small companies found that
- 22% of employees earned up to €25,000;
- 38% earned between this sum and €35,000;
- 31% received €35,000 to €45,000; and
- 9% earned more than €45,000.
The average rates of basic pay varied from €428.56 a week for a care assistant to €767.14 a week for an electrician. For salaried employees, the range ran from €23,185 per annum for a payroll clerk to €54,933 per annum for a senior engineer. it shows how smaller firms need to be innovative in retaining talent when they cannot afford to compete with the larger more established companies in terms of pay rates, however smarter benefits and non financial terms can entice employees to stay.
