The Morgan McKinley Employment Monitor registered a significant increase of 8.6% in the number of new professional job opportunities available in October compared to the previous month. Overall, the availability of professional jobs increased by 11% in October 2018 compared to the same month a year ago.
There was also an increase of 9.2% in the number of professionals seeking new roles in September compared to the previous month. Overall, the monitor recorded an increase of 2.5% in the number of professionals actively seeking new job opportunities in October 2018, compared to October 2017.
Morgan McKinley Ireland, Global FDI Director, Trayc Keevans commented:
“The top three career areas recruiting professionals in Ireland in October were Financial Services (34%), Software as a Service (13%) (SaaS – a specialist area within technology) and Pharma (12%). In financial services, we are seeing a significant requirement for more complex senior functions in areas including asset management, compliance, financial control, risk management and, for example, controlled functions or roles in entities regulated by the Central Bank of Ireland where there is a considerable level of applicant and approval activity.”
“The number of professionals seeking employment is the highest that it has been all year. A lot of that is Brexit related where we continue to see a big inflow of talent not just from the UK but from right across Europe where professionals are choosing Ireland for onward career opportunities. While Dublin is a focus of this interest, there is also growing interest from this migrant talent in locating directly to the regions.”
“The number of jobs coming available has risen for three successive months in a row and is at its highest level since July. While it is not unusual to see a ramp-up of recruitment activity towards Christmas, this is currently at a noticeably higher level than last year. Companies are deploying the full extent of their recruitment budgets before year-end, and are also seeking to have people on board and adding value to their organisations in time for the new year.”
“The processing times for Employment Permits in Ireland is currently running at 5-6 weeks for Employers registered with the Trusted Partner (TP) scheme and as long as 12 weeks for other employers outside the TP scheme. This is lagging significantly behind the two week and 4-6 week targeted timeline for TP and non TP scheme members respectively. This is impacting hiring across the board, particularly for critical skills, so it’s essential that the Government can deploy resources to improve the momentum to ensure the gap in these timelines is addressed and reduced”.
“In October, 76% of the jobs announced through IDA Ireland were for the regions with Carlow, Cork, Limerick, Galway, Roscommon, Sligo and Waterford well represented. Financial Services, Life Sciences and Technology continue to be at the forefront of these announcements. Technology recruitment has become increasingly diverse this month including skills acquisition in the fields of Cloud Computing, the Internet of Things (IoT), eCommerce and Fintech.”
“The professional services sector, including legal, accountancy and taxation, is buoyant and this is reflective of continuing growth in other sectors to which these services are supplied. It is also in spite of technological advances where there has been an expectation that automation may replace certain roles.”
“The Business Process Outsourcing (BPO) sector continued in October to be a major recruiter here. The most in demand jobs in this sector this month included specialist customer support, inside sales and technical support. These roles require business, technical and multilingual skills in many instances. The availability of this capability in our economy is fuelling further growth and investment by indigenous and multinational firms where, at last count, the CSO indicated that 182 languages and dialects are currently spoken in Ireland. This is a direct benefit arising both from our education sector and from an increasingly diverse society as a feature of immigration and an influx of citizens from the EU.”
“In recent times, a number of manufacturing sector companies have expressed concern at a perceived shortage of Automation Engineers (and Technicians) with relevant automation management skills. This is reported right across the country and is not specific to any one region. As a result, we are seeing candidates being sourced, interviewed and offered jobs in as short a timeframe as one week (followed by the relevant notice period). Salary levels in this area have increased by some 23% in the past five years. This shortage is also accentuated by an increased volume of applications and longer lead times in respect of the employment permits and trusted partner schemes. Notably, the Springboard programme is successfully providing conversions from other sectors through qualifications like the Certificate in Industrial Instrumentation and Automation Processes which has seen a strong take-up by career minded professionals. The Pharma sector is broadening it’s hiring of talent from traditional pharma only to now include non pharma sectors ranging from FMCG to semiconductors to the food industry.”
“Product Managers are in very high demand in the ICT sector, from VC backed Irish technology start-ups right through to multinational firms. Smaller firms are successfully attracting senior candidates with experience gained in the multinational environment. The lure in many cases is not necessarily one of increased remuneration. Instead it can include shareholding or more simply, a sense of greater autonomy and greater leadership responsibility in the new position. Conversely, multinational firms are still providing an appealing onward global career destination for ambitious young professionals, with experience already gained in the indigenous sector. This level of skills transfer and career progression is healthy overall for industry and the economy.”
“In retail banking, we have seen a spike in hiring for personal banking executives, particularly in the regions. These hires are currently trending initially to be 12-month fixed term contracts with a view to permanency thereafter. Compliance analysts and risk data specialists are also in demand.”
“As one might expect, the Human Resources profession is in strong demand by employers, ranging from entry level HR generalists and administrators, right through to management and director level roles. These are handling strategic organisational requirements and programmes arising from growth and change, including the response by industry in Ireland to Brexit, the increasing compliance requirements of legislation such as GDPR and the transformative impact of digital on HR requirements within business.”