Companies are reporting difficulties in retaining workers due to a shortage in affordable housing.
Ibec's latest housing report found 70% of companies say the housing crisis is having a significant impact on business operations and staffing.
Another 30% of companies surveyed called the challenge 'major'.
The business group claimed the issue is 'harming Ireland's attractiveness as a place to live' and poses the greatest threat to competitiveness.
Ibec also wants to see local authorities and Approved Housing Bodies build and deliver 20,000 social, cost-rental and affordable homes before the end of the decade.
The group's Director of Lobbying & Influence Fergal O’Brien said more affordable accommodation is needed, particularly for younger workers.
“An inadequate supply of affordable housing is the single largest impediment to attracting and retaining talented workers, without whom business investment and expansions are not possible.
"Younger workers, in particular, are financially pressed by ever-higher rents and the receding prospect of homeownership. This ultimately spills over into issues around well-being and productivity in the workplace, while in the longer term, if left unchecked, will also create emerging challenges in terms of pension adequacy and people’s broader stake in society over the coming decades."
Our new @ibec_irl housing report is out this morning. Focused on practical policy response. The housing crisis, along with being a social crisis, is now becoming a critical barrier to sustained competitiveness and investment.
Link to the report:https://t.co/KRJN6n5FN7 pic.twitter.com/xHOFSTd5Hp— Gerard Brady (@GerardBrady100) January 30, 2023
