June Employment Monitor | 31% more professional opportunities available between January – June 2015, compared to the same period last year

Aldagh McDonogh 15.07.2015

19% more professional jobs available this month compared to June last year.

Highlights Overall

  • 19% more professional jobs available this month compared to June last year.
  • 11% decrease in the number of professionals entering the jobs market, compared to June 2014 as the jobs market becomes increasingly passive.
  • A month on month decrease of 15% in professional jobs coming to market, reflective of the season.
  • Dutch, German and Nordic languages were the most in demand this month - employers increasingly require professionals with more than one language.  
  • June recorded a 33% increase in the number of roles for supply chain professionals. Investment in the pharma and life sciences sector is driving this requirement. Procurement and planning professionals were the most sought after.
  • Within the IT sector, security and .Net professionals were most in demand.
  • Significant uplift in new credit roles within banking, though predominantly temporary rather than permanent roles. Increased volume of opportunities within risk and compliance.
  • Continued demand for audit seniors and for international tax accountants and managers with a focus on managing tax compliance.


 

Key Insights in H1 2015

  • 31% more professional opportunities available between January – June 2015, compared to the same period last year.
  • Finance and IT most buoyant sectors in first half of 2015. 
  • The recovery in the professional jobs market is more balanced this year, with a greater geographical spread than in 2014 - driven by multinational, multilingual and financial services sector growth and IDA Ireland’s regional focus for job growth having an impact.
  • In the IT and Financial services sector, confidence this year has manifested in an increase in professionals leaving permanent positions to take up more lucrative temporary and project based roles.
  • The requirement for professionals with more than one language has been the highest ever recorded by the Morgan McKinley Employment Monitor. These roles are across all sectors but primarily in IT, Customer Service and Sales.
  • Globalised nature of work is requiring professionals to be flexible with regard to travel and work/life balance.
  • Recruitment strategies are increasingly globally focused, as companies seek to source talent away from a market that cannot meet demand in key growth areas.


 

Wednesday 15 July 2015: The June 2015 Morgan McKinley Irish Employment Monitor registered a 19% increase in the number of professional job opportunities (11,305) when compared with the same month last year (9,537). There was an 11% decrease in the number of professionals seeking employment this month compared to June 2014. 

Overall January – June 2015 saw an increase of 31% in the number of professional job opportunities available compared to the same period in 2014.

Morgan McKinley Ireland, Chief Operations Officer, Karen O’Flaherty, commented:

“A renewed sense of confidence has been driving activity so far this year, particularly in Finance, banking and IT sectors. 

There is a growing trend of existing and new multinationals evolving from servicing EMEA only to global markets from Ireland. The quality and availability of the multilingual workforce here is a key factor in this trend with the diversity of language skills enabling multinationals to service different time-zones and offer a 24/7 global support operation. Talent availability is one of the key factors which underpins an organisations decision to locate here and Ireland’s need to continue to invest in, develop and attract professionals with multilingual abilities cannot be underestimated.

Comprehensive career packages and salary increases (from 5 – 10%) were a feature this year, primarily for individuals with niche skill sets or in sectors with notable and well publicised skills shortages. More generally, companies remain cautious in relation to salary increases, offering comprehensive training and career development opportunities in order to retain and attract talent.

Ireland’s reputation as an established centre of excellence for global supply chain operations with many corporate procurement and planning functions based here has continued to drive employment in this sector, with a 33% increase in supply chain roles in June alone.

Banking and financial services remain growth areas. Many of the jobs created in this sector this year are new roles and do not include legacy skill sets, adding to the recruitment challenge. Recruitment strategies are increasingly globally focused.

Although a positive year to date in terms of employment, we cannot afford to become complacent, Ireland must continue investing in talent as well as having a competitive offering to attract talent from overseas.”

Chart 1 – Professional Jobs

Professional Jobs

Chart 2 - Professionals seeking roles

Professionals seeking roles


Issued by

Rachel Graham, MKC Communications, 01 7038600

Spokespeople available on request for further industry insights and commentary.

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. 
 
Statistical methodology
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 classification:
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.
 
Geography:
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 many of the major employers in its specialist sectors and thousands of smaller local firms.
 
 In 2015, Morgan McKinley was recognised as one of the top 5 Best Workplaces in Ireland in the Great Place to Work Awards. The company was also a Ruban d’Honneur recipient in the 2014/5 European Business Awards.

Transformation Director
amcdonogh@morganmckinley.com

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