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Many Irish believe openness about mental health is bad for job prospects

Regius Professor of Laws at Trinity, Professor Mark Bell has today claimed that one quarter of us will develop mental or behavioural disorders during our lifetime and for many this can lead to job loss.

Furthermore, almost six out of ten people believe that openness about mental health impacts negatively on job prospects.

This comes ahead of his inaugural lecture entitled ‘Mental Health and Employment in Ireland: Is Equality Law the Solution?’ which he will deliver this evening in the Edmund Burke Theatre, Trinity College at 6pm.

For more on this article, please visit: Business World

More men than women own pensions

New research released by Standard Life indicates that 70% of adults over 55 years of age own a pension. Of this, more men than women own pensions – with 55% of men compared with 46% of women.

The survey of 1,000 respondents reveals that pension ownership has increased sharply from 40% in March 2011 to 50% in January 2016, representing a 25% increase in ownership over the last 5 years.

According to the data, the average personal pension pot (excluding the state pension) is €125,020. This translates to an average income of just €5,625 per annum.

For more on this article, please visit: Business World

Poor employee health costs Irish economy €2.4 billion per year

According to new research, poor employee health is one of the most persistent problems effecting productivity, profitability and competitiveness for Irish organisations.

A corporate health service provider, Fusion HR has analysed the health risk factors identified by just under 600 Irish employees through its Health House wellness portal to estimate the cost of poor employee well-being on the Irish economy.

The company then applied productivity impact factors which resulted from a key  study carried out in 2005, at the University of Michigan, on the association of health risks and job productivity of over 28,000 employees, to quantify its findings.

According to the results, €2.4 billion per annum is the cost of lost productivity to the Irish economy due to poor employee well-being. This equates to approximately €1,200 per employee for the approximately 2 million Irish workforce.

For more on this article, please visit: Business World

One in five private sector jobs are as a result of foreign investment

The IDA have today released figures which show that more than one-in-five private sector jobs in the economy (direct and indirect employment), are as a result of IDA-supported Foreign Direct Investment (FDI).

Almost 19,000 jobs were created last year by IDA client companies in regions all over Ireland, with over 9,000 jobs created outside Dublin.

Those counties that experienced the highest growth in 2015 included: Waterford, Limerick, Westmeath, Donegal, Louth and Galway.

Those counties that did not grow in 2015 were Wicklow, Monaghan, Sligo, Kilkenny, Tipperary and Wexford.

Article source: Business World

Ireland’s economy is three times than the EU average in terms of GDP growth

The latest PwC’s Annual Global CEO survey has been released today and shows that two-thirds of CEOs (66%) see more threats facing their businesses today than three years ago.

Just over a quarter (27%) believe global growth will improve over the next 12 months, a decline of 10 points on last year.

More than 1,400 CEOs were interviewed for the research, which is published today at the opening of the World Economic Forum Annual Meeting in Davos, Switzerland.

Only slightly more than a third (35%) of CEOs are very confident of their own company growth in the coming year, down four points on last year (39%), and even one point below 2013.

The survey shows that confidence in revenue growth is also down compared to last year for nearly every major economy in the world: China 24% (2015: 36%), United States 33% (2015: 46%), United Kingdom 33% (2015: 39%) and Germany 28% (2015: 35%). Italy 20% (2015: 20%) and Japan 28% (2015: 27%) remained static.

Only Russia is the exception as confidence rose to 26% from a deep low of 16% last year.

Looking at investment prospects, the US, China, Germany and the UK remain the countries CEOs view as most important for growth in the next 12 months. Mexico and the UAE have also entered the top ten in place of Indonesia and Australia.

Nearly half (48%) of CEOs plan to increase their headcount over the next 12 months, a slight drop on last year (50%). Business recruitment activity is highest in India (70%), the UK (66%) and China (57%).

Concerns about the availability of key skills remains high (72%). Several sectors have particularly high levels of concern, topped by entertainment and media, and technology, while sectors more traditionally aligned with ‘STEM’ skills including manufacturing, pharmaceuticals and life sciences, also feature.

Ireland’s economy is now performing over three times the European average in terms of GDP growth.

A recent PwC survey showed that 88% of Irish business leaders expect their businesses to grow revenues in the year ahead, of which 62% said this growth would be over 5%1. Two-thirds are planning to increase their workforce.

PwC Irish Managing Partner, Feargal O’Rourke commented,  “Notwithstanding this confidence, the challenges in Ireland are similar to those facing global CEOs including political change, over-regulation, cyber threats and availability of key skills.

For more on this article, please visit: Business World

Confidence amongst Irish businesses is at a nine-year high

According to a new survey carried out by KBC Bank Ireland and Chartered Accountants Ireland has found confidence amongst Irish businesses is at a nine-year high.

Respondents to its latest Business Sentiment Survey reported stronger activity levels as well as increased optimism about the strength of the country’s economy.

Domestic demand is seen to have risen significantly, while manufacturing activity is also up – but at a slower pace of growth than before.

The majority of firms surveyed did not appear to be too worried about a potential British exit from the European Union, with 54% saying they did not see such an outcome having a direct impact on their business.

However, many did fear the uncertainty it could create.

Also worrying businesses were rising costs during last year, while 80% of respondents expect wages to rise in the months ahead.

Article source: RTE Business News