Housing and retaining staff are the biggest problems for 2024, Dublin businesses reveal.
Four in five Dublin businesses noted housing as the biggest challenge facing Dublin, according to Dublin Chamber.
Three in five businesses have identified ‘Attracting, Retaining, and Upskilling Staff’ as their top priority as they head into the new year.
“The fact that housing has become so prevalent as a critical business issue, alongside more traditional business challenges, underscores the current situation’s complexity”
That’s according to Dublin Chamber’s most recent business outlook which underscores a continued trend in the Dublin business community: acute skills and labour shortages.
Solutions needed to maintain Dublin’s competitive edge
“Despite some of the notable work achieved by Government over the past year, such as the reductions we’ve seen in childcare costs, the narrative hasn’t changed and the challenges remain consistent,” said Aebhric McGibney, director of Public and International Affairs at Dublin Chamber.
“We’re continuing to hear from Dublin firms that several factors, particularly childcare expenses and the lack of affordable housing, are driving current labour shortages. There’s a clear need for strategies to enhance labour force participation, especially among women, by eliminating the barriers to workforce re-entry such as the punitive rate of marginal income tax for second earners and the continued reduction of childcare expenses.”
In correlation to this, over four in five Dublin businesses noted housing as the biggest challenge facing Dublin. Poor infrastructure and skills and labour shortages follow in second and third place as the highest priorities for businesses. Almost three in five businesses reported that these combined issues significantly impact their ability to retain and attract staff, underscoring the mutually reinforcing nature of these challenges and the need for urgent and effective solutions to maintain Dublin’s competitive edge.
“The fact that housing has become so prevalent as a critical business issue, alongside more traditional business challenges, underscores the current situation’s complexity,” McGibney said.
“The interconnection of housing, infrastructure, and labour challenges points to a more comprehensive approach needed in policymaking. As representatives and advocates of the Dublin business community, we’re committed to working collaboratively with stakeholders to continue addressing these issues head-on,” McGibney added.