Professional job vacancies down 3% in August as seasonal factors also diminish - Morgan McKinley Ireland Employment Monitor
Government’s Trusted Partner Scheme providing reassurance to multinationals
Buoyant procurement, financial and pharma sectors and opportunities in GDPR.
Wednesday 13th September 2017 - The number of professional job vacancies in Ireland reduced by 3% in August compared to the same month a year ago, but were up 7% sequentially since July, according to the Morgan McKinley Ireland Monthly Employment Monitor. Morgan McKinley is a wholly Irish owned multinational professional services recruitment company. There was a 19% increase in the number of professionals seeking jobs in Ireland in August compared to the same month a year ago. This indicates continuing high levels of mobility and perceived opportunity among the professional workforce and also reflects the nationally low rate of unemployment. There is an increased focus on employee retention, career planning and succession programmes and an overall strengthening of the remuneration and benefits being offered to professionals.
The August Employment Monitor figures are consistent with the immediately preceding July where the overall professional jobs market softened significantly - due mainly to seasonal factors and following from an intensive period of hiring activity in the professional services recruitment market in the first half of 2017. Overall, there continues to be a high level of stability and opportunity within the professional jobs market.
Current Notable Trends
Morgan McKinley Ireland, Director of Inward Investment, Trayc Keevans commented:
TRUSTED PARTNER SCHEME
“The Trusted Partner Scheme, where companies can register with the Department of Business, Enterprise and Innovation (DBEI), is streamlining recruitment processes for non EU citizens being hired into Ireland, allowing significantly faster times for the processing of visas and work permits. Companies are increasingly confident that their hiring ambitions will be supported by the scheme. This is proving beneficial across a wide range of sectors, most notably in ICT, financial services and procurement, and it is also supporting the Government’s programme to attract foreign direct investment into Ireland. The timelines for processing recruitment under the Trusted Partner Scheme have improved over the past 18 months.”
PROCUREMENT SECTOR BUOYANT
“The procurement sector is particularly buoyant where we are seeing a growing trend of centralisation of European procurement operations by multinationals in Ireland. Combined with investments in advanced new technologies and systems, this is underpinning growth in recruitment by this sector, which had largely been dominated by domestic considerations to date. Procurement in, and from Ireland, is becoming more global and more strategic in nature, requiring specialist skills and qualifications. This is also stimulating an influx in employees from other countries (predominantly sourced from the EU, including the UK) to fill senior level and specialist procurement roles.”
“Professional services firms, including audit, financial, treasury and legal are under increasing pressure to retain staff as overall confidence within the economy remains high and increasingly mobile employees pursue further career advancement. In legal, companies are increasingly prepared to hire internal legal counsel where, for example, some multinational firms are seen to be recruiting full legal teams to cater for strategic international requirements across a number of legal specialisms.
“There is strong demand for, and currently a short supply of, legal secretaries and also senior level executive assistants with international experience.”
“We are seeing a continuing resilience and growth of employment opportunity in the pharma sector where many companies are establishing regional hubs in specially developed campuses around the country. This includes support from Government for the regions in parks and estates designated as centres of technological or scientific excellence with all of the necessary infrastructure required to attract investment. It is also based on a substantial pipeline of inbound interest in Ireland including the headquartering of EU operations, finance, quality assurance and legal functions.”
GDPR – General Data Protection Regulation
“There is strong demand for data controllers, compliance specialists and data analysts as companies increase their readiness for the GDPR regulations."
“There is still a variable level of knowledge by employers relating to their GDPR obligations. In as much as the actual administrative processes for data governance are important, so too are the technologies and systems that are required to underpin successful compliance. There is considerable investment taking place in this area and many available opportunities for ICT professionals as a result including, for example, server managers who are at the epicentre of the GDPR requirement."
“GDPR carries serious penalties for non-compliance so it’s important for companies to consider their current position and to upskill their systems and resources appropriately” said
Trayc Keevans, Director of Inward Investment, Morgan McKinley Ireland.
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About the Morgan McKinley Irish Employment Monitor
The Morgan McKinley Irish Employment Monitor (previously known as the Premier Group Irish Employment Monitor) measures the pulse of the Irish professional jobs market by tracking the number of new job vacancies and new candidates within the Republic of Ireland each month. See www.morganmckinley.ie for details.
Monthly new jobs and new candidates:
Monthly new jobs and new candidate figures are based on Morgan McKinley’s own monthly records of new permanent job vacancies and new candidates registering with the firm for permanent employment. Statistics for the full market are derived using Morgan McKinley’s own market share.
Job vacancies are professional level roles within the following sectors and functions: Banking & Financial Services, Commerce & Industry Finance, Insurance, Public Practice & Tax, legal, HR, IT, Life Sciences, Engineering, Process & Manufacturing, Professional Services, Sales & Marketing, Customer Service, Secretarial & Office Support.
The data is based on new job vacancies and new candidates registered with Morgan McKinley’s network of Irish offices in Cork, Dublin, Kilkenny, Limerick and Waterford.
About Morgan McKinley in Ireland
Irish owned Morgan McKinley is a global professional recruitment consultancy connecting specialist talent with leading employers across multiple industries and disciplines.
With offices across Ireland, the UK, EMEA, Asia and Australia, its professional recruitment expertise spans the accounting & finance, financial services, technical and IT sectors. Morgan McKinley is a preferred supplier to most of the major employers in its specialist sectors and thousands of smaller local firms.
In 2016, Morgan McKinley was recognised as one of the top five Best Workplaces in Ireland, in the Great Place to Work Awards. The company also received an award for the best Learning & Development Organisation at the Irish Institute of Training and Development Awards and ranked sixth globally on LinkedIn’s list of the Most Socially Engaged Staffing Agencies.