Most companies rule out pay increases next year

Irish companies are unlikely to raise or unfreeze salaries next year, but are likely to recruit more people, according to the latest IBEC pay survey.

Irish companies are unlikely to raise or unfreeze salaries next year, but are likely to recruit more people, according to the latest IBEC pay survey.

The survey shows that 69% of companies plan to keep salaries at their current reduced levels.

This latest in a series of sentiment surveys is based on analysis of what companies are planning for next year.

IBEC's director of HR services Brendan McGinty said pay costs were still about 15% higher than for our main European trading partners for 2011, and that business costs would have to continue to come down.

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