Half of professional firms expect to pay some level of bonus

MORE than half of Irish professional firms expect to pay employees some sort of financial bonus this year, according to a new survey.

The latest edition of the Bonus Expectations Survey, from recruitment specialist Morgan McKinley Ireland, found that 53% of firms — mainly in the financial services, professional services, IT and manufacturing areas — are hopeful of paying bonuses this month and next. However, Morgan McKinley Ireland’s chief operating officer, Karen O’Flaherty, yesterday stressed such payments are likely to be modest in size. “It must be emphasised that the majority of respondents predicted that these would be 10% of basic salaries, at best. For many companies, these bonus payments are likely to be gestures of goodwill towards their employees — many of whom wouldn’t have received pay increases or bonuses for three or more years,” according to Ms O’Flaherty. “Even in this challenging economic climate, employers recognise there are still shortages of skilled professionals in certain sectors, so staff retention is a priority.”