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As some companies pivot back to full-time office work, Mark Fallon examines the sustainability of remote work and its impact on business culture and talent retention The first few months of the year changed the landscape of the professional working week. From the onset of the COVID-19 pandemic up until 2022, office workers were predominantly ‘working from home’ (WFH). Then came the shift to a hybrid working model, with professionals working part-time in the office and part-time at home. Today, in thew fourth quarter (Q4) of 2024 and trending into 2025, the dynamic is changing once again with many companies doing a U-turn on their WFH policies, demanding their employees to return to the office five days a week. Resurfacing culture concerns In 2020, Coopman Search and Selection ran a survey of more than 400 professionals in Ireland about working from home in the first winter of COVID-19. Out of several interesting findings in this survey, the biggest fear from corporations at this time was the ‘lack of collaboration’ and ‘loss of culture’ with employees not being present in the office environment. Fast-forward to Q4 2024 and this concern has come to fruition, with business leaders ‘feeling’ that employees need to be in the office more , as stated by Andy Jassy, CEO of Amazon, in September 2024, “to be better set up to invent, collaborate and be connected to each other”. There is mixed data on the advantages and disadvantages of WFH. Some claim productivity has dropped since its introduction, while employees who benefit from hybrid working feel more empowered, better at balancing personal and professional responsibilities. Flexibility remains key to talent attraction Flexible remote work policies can significantly impact the quality of talent they attract. Companies based in major cities might miss out on top talent by requiring full-time office attendance, as many skilled workers are located outside of the commuter area. Offering hybrid or remote work options can help businesses remain competitive in the talent market. While studies have shown mixed results on productivity, some report up to a 13 percent increase in output from remote workers, though others suggest a drop in collaboration and engagement. Looking ahead to 2025, many large companies are expected to increase mandatory office days, while smaller businesses may stick to hybrid models. Employees unhappy with stricter office requirements will likely seek more flexible employers, giving those companies a chance to secure top talent. Fully remote workers may face more challenges securing roles as the trend shifts toward in-office work. A future of retention and growth As the debate over remote work continues, companies that balance flexibility with in-office collaboration will likely be best positioned to attract top talent and meet employee needs in Ireland for talent attraction and retention. Organisations must carefully assess their policies to foster environments that encourage both individual efficiency and collective creativity, ensuring a sustainable future in the evolving work landscape. Mark Fallon is Director and Co-Founder at Coopman Search and Selection

AI is reshaping the workforce, blending human creativity with technology. Tim Bergin explores how organisations can leverage generative AI to unlock potential and drive transformation Generative artificial intelligence (Gen AI) may be perceived as a risk to human employment, but it can also be viewed as a catalyst for redefining the contribution of individuals in the professional environment. Increased access to Gen AI is allowing workers to fill capability gaps in creativity, team dynamics and content generation with a new technology-driven assistant. The challenge now lies in encouraging our organisations to embrace the advantages while unlocking the potential for workforce workplace restructuring. Unlocking human potential Gen AI provides the ability to rethink how work is organised at operating model, functional level an team level. How can employers unlock the full potential of their workforce at these levels? Team AI is a proven catalyst for better communication, how we interact with colleagues and customers, and how we collaborate and get work done. For example, virtual and augmented reality allow real-time collaboration with people across the globe, facilitating richer conversations, skill sharing and exposure to other areas of the organisation. According to the EY Workforce Reimaged 2023 survey, there is a 33 percent net positive sentiment of employers and employees who believe Gen AI will boost productivity and new ways of working, and an even greater 44 percent net positive of those who expect the technology to enable greater flexible working. Aside from additional capacity, AI systems can provide insights into team performance, sentiment and connection by tracking and analysing data. This could give employers insight into how their team is feeling through survey feedback. This can help promote a more productive, collaborative environment, enabling employers to proactively address employee issues. Organisation The adoption of AI at an organisational level can revolutionise current ways of working from front-line customer-facing functions, to operations and corporate functions such as finance and HR. The transformative impact can be seen on all fronts, demonstrating the potential to improve not only efficiency and effectiveness but also employee experience. For example, using Gen AI to predict consumer needs can help organisations refine their stock systems and supply chain to ensure products are ready at the point of need, rather than stockpiling and incurring unnecessary storage costs. This use case can also free up time for consumer-facing staff to have more considered conversations with their customers about potential future purchasing needs, and demonstrates the rounded positive impact we can expect to see if Gen AI is used responsibly, and thoughtful consideration is given to the workforce impact and opportunity. It is clear from a team and organisational perspective that AI’s role is pivotal in the evolution of the workforce and the increasing requirement for upskilling and reskilling. Success lies in the coming together of emerging technologies and vital human interventions; releasing the power of technology while emphasising the importance of what makes work human. Collaborative partnership While AI's rapid proliferation might trigger fear of unprecedented changes in the working environment, organisations must remember that by embracing AI and investing in the upskilling of their workforce, they are fostering a collaborative partnership between human creativity and artificial intelligence. Tim Bergin is Partner of People Consulting at EY 

When an employee resigns, handling the process smoothly is crucial. Moira Grassick outlines key steps to manage both formal resignations and sudden departures in your business Occasionally, employees resign. In doing so, they usually give full contractual notice of their resignation. However, an employee sometimes resigns in the heat of the moment. As you can imagine, quitting a job with no notice given doesn’t exactly follow the typical resignation process. Regardless of whether an employee submits a resignation letter or rage quits their job, you need to handle the situation properly.   What is resignation? Resignation is when an employee informs their employer that they’re quitting. The employment relationships can end in various ways, including: An employee gives you their notice of resignation by speaking with you or handing in a letter of resignation; The business ends the contract of employment; or An employee reaches a justifiable contractual retirement age. Once an employee has notified you of their intention to resign, they must complete a notice period. The length of this notice period can be found in the employee’s employment contract. During this period, you can begin your search to find a replacement for the role. It’s also worth noting that you can pay the employee to not work through their notice period. Notice periods in Ireland Notice periods in Ireland vary by each employee’s employment contract and often their length of service. There are, however, two common types of notice to keep in mind: Contractual notice: You can decide the amount of contractual notice an employee must give. For instance, two months’ notice may be required for an employee who has worked with your business for two years. Statutory notice: This is the length of notice an employee is legally required to give. This will depend on their length of service. If an employee has worked with your business for at least 13 weeks, they must give you at least one week’s notice. However, one week’s notice is generally too little time to arrange a replacement. This underlines the value of an appropriate contractual notice period that works for your business. Next steps When an employee of yours decides to resign, it’s only natural that you may try to convince them to stay. After all, they could be one of your highest achievers. If instead you accept the resignation, there are some key steps to follow: Get the resignation in writing: Written confirmation of the resignation must include the employee’s name, the date, and a signature. Seek a resignation letter regardless of the length of employment. Respond to the resignation: Acknowledge your acceptance of the resignation. This can be a written or verbal response. You can also send a resignation email with the notice period confirmed. Decide on the notice period: Do you want the employee to work their full notice period? Confirm your decision with the departing employee. Prepare a handover pack: A handover pack for the departing employee’s replacement will come in handy when they arrive. Conduct an exit interview: This interview allows you to understand the employee’s reasons for resigning. You’ll also be able to make improvements to their role or management practises based on that feedback. Retrieve business property: Retrieve business property from the departing employee. These items could include computers, devices, or their uniform. You must also arrange the employee’s final wage payment. Failing to do so can result in a Workplace Relations Commission (WRC) claim. Finally, try to end the professional relationship on a positive note. After all, the departing employee may return to your business down the line. Moira Grassick is Chief Operating Officer at Peninsula

Finance Bill 2024 introduces key updates on tax reliefs for employers and private businesses. Pat Mahon breaks down the most significant changes From an employment and personal tax standpoint, the majority of the legislative actions contained in Finance Bill 2024 are aligned with announcements made on Budget Day. However, some newly announced measures in the Finance Bill are likely to be of interest to employers and private businesses. Employment Investment Incentive Finance (No. 2) Act 2023 brought several changes to Employment Investment Incentive (EII) relief to ensure the relief complied with amended EU state aid rules. The most fundamental change concerns the rate of tax relief. Finance (No. 2) Act 2023 restricted the maximum effective rate of EII relief for follow-on investments to 20 percent. This change was implemented based on an initial interpretation of EU state aid rules. However, on further developments, it appears that there is flexibility in the EU state aid rules for the 35 percent rate to apply to follow-on risk finance investments where the company has been in existence for less than ten years or within seven years of its first commercial sale. Finance Bill 2024 has recognised this rate of relief on a retrospective basis for shares issued on or after 1 January 2024. This is a welcomed change for the Irish scale-up sector. Other relevant changes to the regime were: An extension to the deadline for processing the relief from four months post-year-end to 31 December in the year following the year in which the shares were issued. The extension of the operation of the relief to 31 December 2026. The amount upon which an investor can claim tax relief under the scheme has increased from €500,000 to €1 million. Start-Up Refunds for Entrepreneurs The amount of Start-Up Refunds for Entrepreneurs (SURE) relief that an investor can claim annually has been increased from €100,000 to €140,000. This results in a total maximum of €980,000 over seven years. For SURE relief being claimed where a loan is converted to eligible shares, a business plan must be in place in advance of the date of the issue of the loan. The same change for the rate of relief from 20 to 3 precent for follow-on EII investments also applies to SURE claims.   Start-Up Relief S486C TCA 1997 For accounting periods beginning on or after 1 January 2025, in addition to providing the current relief relevant to the amount of employer’s PRSI borne by the company, relief will also be available by reference to the amount of Class S PRSI paid by a director of the company. This is subject to a maximum of €5,000 employer’s PRSI per employee, €1,000 Class S PRSI per company director and €40,000 overall. R&D tax credit  The amount of refundable R&D tax credits that can be paid to a company in a year has been increased from €50,000 to €75,000. CGT retirement relief Finance (No. 2) Act 2023 increased the age limits for CGT retirement relief purposes from 65 to 69 years. However, it also introduced a new maximum limit of €10 million on disposals of qualifying assets to children up to and including the age of 69 years. These changes were due to take effect from 1 January 2025. While the increased upper age limit will remain in place, amendments introduced in Finance Bill 2024 propose a clawback period of 12 years in relation to disposals of qualifying assets in excess of €10 million made by an individual between the ages of 55 and 69 years (inclusive) from 1 January 2025. The relief will operate to defer any CGT which would be due by the parent disposing of the asset to the earlier of: the date on which the shares are disposed of by the child; or the expiration of 12 years from the date of the disposal. Where a qualifying asset on which retirement relief is claimed is subsequently disposed of by the child within 12 years of the transfer, the child will be assessed on the deferred CGT in addition to any CGT arising in respect of the gain accruing to the child. However, if the qualifying asset is held by the child for at least 12 years, the CGT will be abated. This change is to be welcomed and will ensure that transfers of successful businesses to the next generation are not penalised subject to a number of requirements being satisfied. Angel investor CGT relief Angel investor CGT relief was introduced in Finance (No. 2) Act 2023. The relief provides a reduced CGT rate for qualifying investments made by a qualifying investor in a qualifying company. The reduced CGT rate is 16 percent for direct investments or 18 percent for investments made by a partnership. The relief was restricted to a lifetime limit of €3 million on gains. The new Finance Bill increased the lifetime limit on gains from €3 million to €10 million. The commencement of the relief is subject to Ministerial Order. Small benefit exemption Finance Bill 2024 confirms the increase in the small benefit exemption threshold to €1,500 per annum. There is also a very welcome increase in respect of the number of vouchers or benefits that qualify for the relief, with five gifts or vouchers now being eligible for relief providing the cumulative value does not exceed €1,500 per annum. Surprisingly, the Bill also states that the exemption will cease with effect from the year of assessment 2030 onwards. PAYE statute of limitations There is a provision to amend the time limits within which the Revenue Commissioners can raise PAYE assessments against employers for tax years 2025 et seq. However, there are some uncertainties in relation to the effect of the changes and further clarity will need to be provided once the draft provision is debated. Pat Mahon is Tax Partner at PwC

Eimear O’Hare provides insights into how private equity can support business growth and outlines the critical steps to ensuring success In today’s fast-paced business landscape, owners and shareholders must be prepared to make pivotal decisions that shape their companies' future. Whether it's scaling operations, innovating or preparing for an exit, private equity (PE) has emerged as a powerful tool to unlock growth, create jobs and drive value. With 91 percent of businesses surveyed by BDO recommending the PE journey, it is clear that many companies view this as a path to success. However, misconceptions persist, often overshadowed by high-profile, negative stories in the media. The transformative power of private equity Private equity is far more than just capital; it’s a partnership that can catalyse significant growth, operational improvement and value creation. Under PE ownership, 87 percent of companies have reported increased growth —illustrating the transformative potential of these investments. PE firms bring not only financial resources but also strategic guidance, expertise and networks that can help scale businesses to new heights. However, despite the clear benefits, some business owners hesitate to explore PE, often due to a lack of understanding or misconceptions about what it involves. Negative press can obscure the positive outcomes, leading to misplaced fears about loss of control or aggressive management. Strategic alignment: where to start Embarking on the private equity journey requires a strategic mindset. The first step is to define clear objectives – whether that is rapid expansion, operational restructuring or planning for an eventual exit. Business owners must also consider what success looks like for their business, both in the short and long term, and ensure these goals align with a potential PE partner. PE funds vary widely in size, sector focus, geographic reach and investment strategy. It is essential to find a partner whose vision aligns with your own and who can offer more than just capital. Preparing your business for private equity investment Thorough preparation is the foundation of a successful PE investment. PE firms seek scalable businesses with a compelling equity story – one that clearly outlines growth opportunities, competitive advantages and a roadmap for value creation. They need to be ready to present a robust business plan, detailed financial forecasts and a clear strategy for growth. Even if your business isn't fully prepared for a PE partnership, PE firms often provide the resources and expertise needed to get you ready for scaling. This might include investments in key areas such as leadership, technology or operational processes. Choosing the right PE investor Selecting the right PE investor can have a lasting impact on the trajectory of your business. Engaging with both current and past portfolio companies is a valuable way to gain insights into an investor’s style, involvement and approach to value creation. Beyond financial backing, understanding an investor’s cultural fit, and their track record supporting growth, is paramount. The PE landscape is diverse, with funds varying in size, focus and geographic reach. From sector-specific funds to those with a broader investment scope, finding the right match for your business’s ambitions requires a deep understanding of the market. Crafting your equity story The equity story is the narrative that encapsulates your company’s growth potential and value proposition. It is critical for aligning all stakeholders – management, investors, and employees – around a shared vision for the future.  A well-crafted equity story should outline your company’s competitive advantages, growth strategy and the steps required to realise value, whether through operational improvements, market expansion or innovation. Navigating the path to exit Private equity isn’t just about growth; it is also about exit planning. For many business owners, PE offers a strategic path to prepare for a future sale, merger, or IPO. The goal is to enhance the business’s value over a period, creating multiple exit scenarios that allow both the entrepreneur and investors to realise returns. Understanding the potential exit options early on is crucial to shaping your business’s trajectory. Whether you aim to hand over control or retain a significant stake post-investment, aligning your exit goals with those of your PE partner is vital. Expand and innovate PE is a powerful tool for business owners seeking to expand, innovate and ultimately realise the full value of their company. However, success demands careful preparation, strategic alignment and choosing the right partners. Eimear O’Hare is a Senior Manager in BDO Ireland’s Deal Advisory group

With five generations employed today’s workplace, leaders must foster inclusion and collaboration across the board. Roisin Loughran explains how As Generation Z enters employment age, there can be five generations in some workplaces: the Silent Generation (1946–1954), baby boomers (1955–1964), Generation X (1965–1980), millennials (1981–1996) and Generation Z (1997–2012). It might be assumed that having so many different generations under one roof can be challenging, to say the least, but are these challenges based on broad stereotypes and preconceptions, or are there real differences and issues arising?  What if we look beyond the stereotypical generational differences, challenge our bias, and focus on the opportunities to maximise the potential and power of all five generations in our teams? Substantial leadership The Centre for Creative Leadership recently studied the preferences of five generations within the workplace. It concluded that “effective leadership is less about style and more about substance.” Regardless of generational background, all employees want to be valued, respected and have opportunities to develop.  For leaders, engaging with and unlocking the power of their multigenerational workforce involves fostering a collaborative, inclusive culture, enabling a safe place for teams to learn from each other, actively engaging across generations, and ensuring open communication and connection. Leaders who invest time in understanding what matters most to individuals, irrespective of generation, and acknowledge their employees’ unique skills, strengths and talents, establish a good foundation of trust and respect.  Setting aside time for employees to share their experiences, discuss business challenges and generate ideas together helps to develop a deeper understanding of the part everyone can play in team success. Leaders who embrace these open and creative conversations within their teams will be rewarded with a collaborative and inclusive culture. Constant learning We all desire a sense of belonging at work, a safe place, without fear of repercussions for asking questions or making mistakes. To advocate for psychological safety at work, leaders may share “failing forward” stories – positioning missteps as an opportunity to grow and develop together.  Leaders should encourage all colleagues to learn from one another, fostering ongoing coaching and mentoring.  Consider the least experienced and most experienced employees. While the least experienced may have received formal qualifications more recently, or be more tech-savvy, the most experienced may be subject matter experts or have learned experience crucial to delivering the service of the organisation.  Imagine the opportunities if both these groups shared their knowledge and skills – what would that mean for that organisation? This ‘reverse mentoring’ is invaluable for businesses today and can be an effective and meaningful way to create lasting connections across generations. Communicating effectively Communication can prove a challenge for leaders due to the diversity of the workforce. To address this, in his recent book, Supercommunicators – How to Unlock the Secret Language of Connection, Charles Duhigg states an essential truth: “To communicate with someone, we must connect with them … If we know how to sit down together, listen to each other and find ways to hear each other … we can thrive”. The prize here is clear. A recent report indicates that age-inclusive organisations tend to have 10 percent greater employee engagement compared to those with less age diversity. In its 2020 report, The Relationship Between Engagement at Work and Organisational Outcomes, Gallup indicated companies with high employee engagement see a 23 percent increase in profitability.  Inclusive leadership Therefore, by understanding employees of all generations and adopting a collaborative and inclusive leadership approach, leaders will reap the rewards of their diverse, multigenerational team's unique perspectives, experiences, and expertise – enabling those leaders to drive their team forward and ensure sustainable growth. Roisin Loughran is an associate director of People and Change at Grant Thornton