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Majority of SMEs say no to wage increases

The majority of Irish small and medium companies will not be changing wage rates in the next 12 months, according to the results of a new survey. The survey results show that this is the position of 71% of member of the Irish Small and Medium Enterprises Association (ISME). The Association has cautioned against unrealistic pay expectations being touted by some politicians and as a result of a big business/semi-state survey. Mark Fielding, ISME CEO, said, “Fortunately we are starting to see signs of stability and possible growth in the domestic economy. However, the situation for SMEs remains precarious. They have been struggling to stay afloat and owner-managers in particular have borne the brunt of the pain by taking huge pay cuts, and in some cases no salary at all, in an effort to keep their businesses afloat. The survey findings indicate that the majority of SMEs will not be in a position to increase wages during 2015 and in a small …

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