Hand putting coins in increasingly high stacks.
Image: © yuthana Choradet/Stock.adobe.com

How might salaries change in 2020?

6 Dec 2019579 Views

Check out this infographic from Recruiters with some predicted salary trends for 2020.

We’re well into December now and as we prepare to enter the next decade, we’ve been taking a look at some predictions for all things science and tech next year.

One of the topics on people’s minds when it comes to work is whether there will be any changes in salary. And with Brexit on the horizon, it’s not always clear how our jobs and wages may be impacted.

But to help us get some insights, Recruiters has published a new Salary Predictions Guide for 2020. Introducing the contents of the guide, its authors wrote: “As we head into 2020, Brexit still looms. There has been great uncertainty surrounding Brexit for more than three years now and the markets do not respond well to uncertainty.

“However, from our view of the market in Ireland, demand for talent remains strong and is driven by growth within Ireland’s export-led economy.”

According to Recruiters, 94pc of its clients surveyed said they expect salaries to increase in 2020.

Gender pay gap

The report also touched on the gender pay gap and how it might evolve from 2020 onwards. Recruiters said that proposed legislation that would require all large companies in Ireland to report on the difference between how much men and women earn in their organisation would “not be enough to mend the gender pay gap” on its own.

“Once the legislation is enacted, companies with 250 or more employees will need to publish and explain data in relation to their gender pay gaps and this will stretch to smaller companies in subsequent years.

“Therefore, it’s important for companies to start putting measures in place now, not only to gather the data, but to be honest about the gender gaps and start putting measures in place to close them for 2020.”

Points to take away

Finally, the guide includes some advice for businesses hoping to prepare for the changes that 2020 will inevitably bring, with tips on how to attract and retain talent in the new year and developing an employer brand identity.

The workforce of the future, according to Recruiters, “will be more flexible and more diverse than ever before, especially when it comes to generational differences”.

With the accompanying infographic below, both companies and their employees can become familiar with the some of the emerging salary trends and more. Click here to view a larger image.

Recruiters' Salary Guide Infographic including statistics and predictions for 2020.

Recruiters’ Salary Guide Infographic. Image: Recruiters

Want stories like this and more direct to your inbox? Sign up for Tech Trends, Silicon Republic’s weekly digest of need-to-know tech news.

Lisa Ardill
By Lisa Ardill

Lisa joined the team as senior Careers reporter in July 2019 with previous experience in science communication and media. With a BA in neuroscience and a master’s degree in science communication, she is also a semi-published poet and a big fan of doggos.

Loading now, one moment please! Loading