Despite a contracting labour market, seven in 10 employees intend to stay with present employer for at least the next two years, according to WTW's latest employment attraction & retention research.

The 70% that intend to stay with their present employer for the foreseeable future compares to 61% in 2019 and 58% in 2017, although around a third are open to considering offers, should they come their way.

The research, which was conducted in December and January and is based on responses from 828 employees in Ireland, shows that pay (50%) and job security (37%) are the key factors in attracting and retaining employees, followed by flexible work arrangements (32%).

It also suggests that employers that have successfully supported wellbeing during the pandemic are more likely to have employees that are engaged, positive and want to stay, with 59% of staff in Ireland reporting that they felt supported by their employer over the past two years compared to 16% that did not.

Some 82% of those who feel supported by their employer would like to remain with them for the next two years compared to 45% of employees that do not feel supported.

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"Returning to pre-pandemic levels of employment has been difficult for companies in Ireland, however these findings suggest that many employees are satisfied with their current employer and intend to stay," said Sarah McDonough, employee experience leader for the UK & Ireland at WTW. "Worker attachment to employers has grown in Ireland despite a tighter labour market.

“There is a pressure for employers to find ways to better meet their workers’ needs, particularly on issues such as employee experience, wellbeing, skills development, and career structure so that employees choose to stay.

"It is evident from this survey that employee engagement, productivity and retention are all linked to employee wellbeing and companies in Ireland must consider these factors when looking at their workforce.”

The retention impact of good benefits programmes stand out in the research, with employees almost twice as likely to say they want to remain with their employee if their benefits package meets their needs.

When looking at the benefits that matter, 42% of employees in Ireland listed retirement as the number one benefit that they want their employers to focus on, followed by flexible work (40%), health (34%) and career (29%).

"More and more we are seeing retirement and flexibility cited as key drivers of career satisfaction for workers in Ireland in their quest for career satisfaction," McDonough said.

"We know from our research that these concerns play a critical role in creating an experience for employees that is both differentiated and attractive.”

“Employers must look to the strength of their overall packages in relation to the needs of their staff. In many cases, this means enhancing health and retirement benefits, offering flexibility, and focusing on staff wellbeing.

"A more holistic employee experience will ensure that companies in Ireland can attract and retain staff, reskill, and upskill existing team members and optimise job design.”

Excel Recruitment recently found that salaries are increasing across the board as employers scramble to retain talent, with 38% of employees who responded to survey planning to change jobs this year and just 26% certain they would stay in their current job.

(Pic: Getty Images)