Cork Businesses Evolve to an Era of Hybrid Work
- 30% of member respondents hired for a fully remote role in the past 12 months of which 60% were from outside the Cork region.
- 70% of businesses offer hybrid working options to new hires.
- 67% of businesses implemented digital transformation programmes to facilitate remote working in the past 12 months.
- 62% of businesses expect an increase to employee numbers in the next 12 months.
- 49% of businesses have vacancies currently advertised.
- 92% of respondents report business confidence
Cork Chamber, the voice of business in Cork, has published its latest Economic Trends, proudly supported by Permanent TSB. In this survey. Cork Chamber members shared their experiences through Q4 2021, and their outlook on the first three months of 2022. The publication also highlights recruitment trends and the current environment of businesses seeking to hire and retain employees in a competitive market for talent.
Paula Cogan, President of Cork Chamber said, ‘’The last two years have been turbulent for businesses, this in turn has led to talent shortages amongst other issues. The experience of Cork Chamber members mirrors that of companies globally - attracting the best candidates and recruiting people for the right roles has been a significant challenge for businesses of all sizes.’’
Ms Cogan continued, “30% of Cork Chamber members surveyed have hired for a fully remote role in the past 12 months. Of these, 60% were from outside the Cork region. Hiring virtually allows businesses to access a larger talent pool and attract more potential candidates to apply with the incentive of increased flexibility. This fact offers both challenges and opportunities for employers and the Cork region at large.’’
Speaking on the release of Economic Trends, Mags Brennan, Head of Business Banking at Permanent TSB said, ‘’Despite the challenges of the past two years, it is encouraging to see the continued high level of confidence among the Cork business community - reported at 92% over Q4 2021 and returning to pre-Covid levels. At Permanent TSB, we are seeing a similar trend with many of our business customers in recent months, which is an encouraging signal for small business right across the country.”
Paula Cogan concluded, ‘’despite uncertainty, what is clear is that hybrid working is here to stay with 70% of businesses offering hybrid working options to new hires and 67% of businesses implementing digital transformation programmes to facilitate remote working in the past 12 months. Cork Chamber is committed to championing Cork as a globally recognised place for business, innovation and quality of life and will seek to work with partners to keep pace and respond to this evolution and new reality at work and in life’’.
View the most recent quarterly Economic Trends results: https://www.corkchamber.ie/economic-trends/