Articles
India: A Market Guide for Global Mobility Leaders
September 27, 2024
Read More
A warm welcome to the April issue of PerchPeek’s Ireland Market Monthly update!
Here’s where you’ll find the hottest updates around employee relocation and international talent strategy, insights from our experts on housing and cost-of-living news affecting your staff, the latest trends in global mobility, and tips and tricks on ways to support your teams.
A fly-by summary
● Vital rental info for employees: Just 25% of eligible renters have claimed for a rent relief payment announced in the 2023 Budget, and private rental eviction ban has ended
● Social welfare payments available for eligible parents, and free book scheme to launch in primary schools from September 2023 - key advice for parents within your company
● 80% of Irish employers aren’t investing in workplace mental health; however a new Workplace Framework for employee mental health provides clear guidance
● A celebration of immigration: Ireland recently welcomed 1,500 new citizens from over 100 countries at its first in-person citizenship ceremony in nearly five years
● As food price inflation remains at a record high, with the average household spending €1,159 more annually, we share tips for helping employees save money on groceries
In the news
● Rent tax credit available - A new credit for renters was announced in the 2023 Irish Budget, offering €500 per year for individuals and €1,000 per year for couples. A new report shows however that just 25% of eligible renters have claimed the credit so far.
● Eviction ban has ended - The eviction ban put in place on 30th October 2022, stopping private landlords from being able to evict their tenants (except in the case of breach of contract), has now come to an end as of 31st March 2023.
Irish rental market update
Minimum rental costs - Q2 2023 (source: PerchPeek):
Insights from PerchPeek’s Ireland experts
The Irish rental market - and Dublin in particular - is one of the most challenging in the world. To help relocating employees find and keep a suitable rental property, it’s super important to make them aware of the latest changes in rules, regulations and relief payments.
● On average, Dublin rents have risen by a huge 14% YoY, so any help with outgoings will be very welcome! Make sure to share details on relief payments including how to apply.
● It’s so important that renters know their rights as well as their responsibilities as tenants. As well as sharing updates on relevant laws such as the eviction ban, it’s sensible to help them review rental contracts to make sure nothing looks unusual.
The Easter holidays have been and gone and it’s not long until the school summer break, as parents in Ireland will know! However, what they might not know - especially if they’re new to the country - is that social welfare boosts are available for some parents between now and then.
Ireland’s Minister for Social Protection has announced measures aimed at helping parents tackle the cost of living crisis, as part of an overall social welfare package totalling €410 million.
Key details:
● A payment of €200 will be made to Working Family Payment recipients in April 2023
● Child benefit recipients will receive an additional sum of €100 per child in June 2023
● An additional €100 per child will be provided this summer, for those who receive the Back to School Clothing and Footwear Allowance
Free school books
What’s more, the Minister for Education has recently announced a new scheme which will grant free access to school books for primary school pupils, from September 2023 onwards.
How you can support your employees with children:
● Make sure to share details of the Irish child benefits system
● Advise where and how to claim benefits, and direct to other helpful resources
● Review compensation packages regularly to keep in line with cost of living changes
● Offer flexible and remote working options to help parents juggle responsibilities
The importance of mental health support in the workplace is increasingly being recognised, and rightly so when you consider that 90% of Irish employers have noticed an increase in mental health challenges in the workplace since the pandemic, according to Mental Health Ireland.
New research based on a survey of over 1,500 Irish businesses shows that:
● 76% of employers see employee mental health and wellbeing as their responsibility
● Despite this, a whopping 80% are not investing in workplace mental health
Mental health issues are estimated to cost the Irish economy tens of billions each year, with employee absenteeism on the rise. And of course, factors such as the cost of living crisis, and the difficulties faced by relocating employees, put even more strain on staff.
Mental Health Ireland has released a new WorkPlace Framework for companies to promote and protect employees’ mental health. The report provides a full roadmap for employers with plenty of actionable recommendations, and can be found at mentalhealthireland.ie.
This is a significant step as it acknowledges that companies play a crucial role in impacting their employees’ mental health, and provides clear guidance on mental health support best practice.
For People teams, it can be difficult to know where to start when it comes to implementing new mental health support policies, or to know if your standards are in line with other companies. This framework is sure to be an invaluable resource, helping People teams to devise support plans that complement the recognised policies and best practice from Mental Health Ireland.
After a long hiatus due to the global pandemic, Ireland welcomed 1,500 new citizens from over 100 countries at its first in-person citizenship ceremony in nearly five years.
For foreign nationals who choose to make Ireland their home, gaining citizenship is a massive step. It means being granted all the rights and privileges that come with it, including getting an Irish passport, being able to vote in referenda and even the ability to run for public office!
And the benefits cut both ways; during the ceremony, Minister for Justice Simon Harris called out the benefits that immigration brings to Ireland. These include:
● Addressing job gaps - Bringing in skilled workers to address gaps in the labour market
● Economic growth - Varied skills and entrepreneurship can drive businesses forward
● Innovation - Immigrants can bring fresh perspectives and new ideas to businesses
Latest immigration and citizenship stats from the Department of Justice:
● 48,321 Irish visas were granted in 2022, of which 43% went to Indian nationals
● After India, the most visas were granted to citizens of Turkey and China
● 7,039 Irish citizenships were granted in total between January and June 2022
● The UK, India and Pakistan hold the top three positions for citizenship certificates issued
Grocery shopping has rarely been out of the news in recent months. As Irish residents will know well, food prices have risen significantly, playing a major role in the pinch being felt by many households. Research firm Kantar reports that:
● Irish grocery price inflation has soared to a record 16.3% vs. January 2022
● Irish households now face an extra €1,159 on their annual shopping bills
Here are PerchPeek’s tips and tricks on how you can help your relocating employees save money on food and other staples in these trying times:
● For the best deals on food (but still great quality), we recommend discount supermarkets Lidl (over 180 stores in the Republic of Ireland) and Aldi (153 stores).
● Other supermarkets include Dunnes, Tesco and SuperValu - prices are in general slightly higher than Aldi and Lidl but there are still good price-saving deals to be had.
● By joining a supermarket loyalty scheme, such as Dunnes VALUEclub and Tesco Clubcard, savvy shoppers can save up points for vouchers and discounts on purchases.
● To save cash and prevent food waste, employees can check out apps like Too Good To Go and Olio to purchase food items that are about to expire and be thrown out.
● Advise employees to buy produce currently in season, and check out the many budget meal recipes on sites like BBC Good Food, Delicious Magazine and Tesco Real Food.
We hope you enjoyed this month’s update!
If you have any feedback, comments or questions about what's happening in your location, feel free to reach out via the form at the bottom of this page.
Thanks for reading, and see you next month!
-------------------------------------------------------------------------------------------
We hope you found this update insightful! We’d love to hear your thoughts.
PS - if you’d like next month’s PerchPeek Ireland Market update delivered start to your inbox, you can signup here:
We’d love to hear more about your mobility program. Chat with one of our account managers to find out how our platform can support your team
Just add your details here; we’ll be back in touch as soon as possible!
We’d love to hear from you with any questions or concerns about your existing employee mobility program, or we'd love to help you start one!
The best first step is finding out how our platform can best support your team and all your needs so simply fill out your details and we'll be in touch as fast as possible!
We can't wait to assist with all of your company's relocation needs.
.webp)
