Growing economy continues to boost Irish professional jobs in March 2017

Aldagh McDonogh 12.04.2017

4% month to month increase in professional job vacancies nationally in March, compared to February 2017.

Highlights

Jobs 

  • 4% month to month increase in professional job vacancies nationally in March, compared to February 2017.
  • Overall, the availability of professional jobs reduced by 10% in March 2017 compared to the same month a year ago.
  • There was a reduction of -8% in the number of professionals seeking new roles between February and March 2017.
  • The monitor recorded a 22% increase in the number of professionals actively seeking new job opportunities in March 2017, compared to March 2016. 

Finance

  • The majority of companies seeking finance professionals are doing so on the basis of projected growth, as opposed to consolidating their current staff numbers. This is a nationwide trend and not just confined to the Dublin Area.  
  • Skills currently in most demand include Audit, Fund Accounting, Financial Planning & Analysis and Insurance (particularly Compliance).  It is positive to see a continuing requirement for staff in corporate finance, consulting and risk management, with ongoing transference from restructuring and insolvency roles indicative of an improving economy.
  • Companies are increasingly prepared to recruit financial skill sets outside of their core industry expertise and cross train where skills shortages are becoming difficult to source.
  • In the finance sector nationwide, recently qualified job seekers continue to command salaries of between €45k - €50k

IT

  • Demand for IT professionals is continually buoyant and this is not just confined to technology based industries.  In the core ICT sector, there are multiple opportunities for experienced developers across the .NET and Java space and a constant flow of requirements for  professionals with skills in User Experience (UX), User Interface (UI),  web developers and specialists in DevOps (development Operations).   
  • The market for IT Contractors sees a continuing requirement for people with core languages including C# and Java across all industries (including Banking, SME and Technology). Demand remains strong in Banking for Test, Development and Tech support.
  • Across all sectors, people with digital skills remain in high demand including cyber security specialists where there is a continuing emphasis on network and data security including compliance with legislative requirements.

Supply Chain / Manufacturing

  • There is a consistent demand for Manufacturing Engineers, Quality Specialists and R&D Engineers. This is far outweighing supply and these skill sets take longer for companies to source.
  • Transferability of skills from industry to industry is growing where for example; pharma sector recruiters will consider applicants from a medical devices background and vice versa.  
  • The SME sector continues its resurgence and this is contributing strongly to employment creation.

HR

  • Current stability and growth within the Irish economy is leading to continuing jobs creation and overall competitiveness in the recruitment market.  Companies are continuing to focus on talent acquisition and retention and this in turn is creating opportunities for HR professionals where businesses are enhancing their human resources management capabilities.
  • As compensation and benefits form a key element of employment conditions, there is demand for HR staff with experience in this area, including EU, UK and Irish market experience.  This is also true for HR professionals with experience in strategic learning and development programmes designed to retain key talent and to ensure well defined career pathways for employees.

Language Skills

  • Hiring activity is strong for staff with multilingual skills, including continuing demand for Dutch and German.  There is an ongoing trend of businesses transferring operations to Ireland as a base for the EMEA region with a particular demand for staff with language skills in Spanish, Portuguese and French.  

Professional Jobs

Professionals Seeking Jobs

Wednesday 12th April 2017: The number of professional job vacancies available in March 2017 increased by 4% nationally since February according to the Morgan McKinley Ireland Employment Monitor. 

Overall, the availability of professional jobs reduced by 10% in March 2017 compared to the same month a year ago, mainly due to seasonal factors.  There was also a reduction of -8% in the number of professionals seeking new roles in March (since February). However, the monitor recorded an overall 22% increase in the number of professionals actively seeking new job opportunities in March 2017, compared to the same time a year ago. 

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

“The professional jobs market remains buoyant. As the economy returns to high levels of employment, overall confidence has stabilised to a level where there is an increased willingness among professionals to consider onward career development opportunities, and there is greater mobility apparent in the jobs market as a result. Aligned to that, employers are focusing on offering enhanced compensation and benefits combined with clearly defined professional development programmes within their organisations.  While companies need to be very competitive in their job offers, this is at sustainable levels at present and we are not currently seeing the re-emergence of any excesses of the past.

Ireland is at a crucial stage in our economic recovery where, with over 3% GDP growth forecasted for the current year, we are still rebounding from the crash with a growth rate that is still ahead of the rest of Europe. The obvious challenge now is Brexit where the positive trading and economic relationship between Ireland and Britain may obviously be impacted by the final outcome between Britain and Europe, with possible effects on Irish businesses, a contraction of our economic growth prospects and potentially a reduced level of mobility in skills between the islands.  

“Ireland still continues to box above its weight in terms of skills and workforce availability.  The challenge for the Government, with all of the demands on the Exchequer, is to ensure that there is continuing and adequate investment in areas which stimulate economic competitiveness including education and training, research, innovation and telecommunications, among other key infrastructural requirements.

“At present, the majority of companies who we’re working with at Morgan McKinley are holding steady in their recruitment objectives. This includes multinational and Irish firms, with a continuing prospect of Foreign Direct Investment flows into Ireland where we are seeing a high level of interest in what we have to offer as a competitive, English speaking economy and as a continuing member of the European Union.

For media queries contact please contact: 
Céline Crawford, MKC Communications 01 7038613 / 086 8235777 

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 professionals within the Republic of Ireland each month. See www.morganmckinley.ie for details. 

Statistical methodology

Monthly new jobs and new professionals:

Monthly new jobs and new professionals’ figures are based on Morgan McKinley’s own monthly records of new permanent job vacancies and new professionals 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, Commercial 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 professionals 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.

Transformation Director
amcdonogh@morganmckinley.com