Positive figures support Government predictions of further drop in Ireland’s unemployment rate.
- 15% month to month increase in professional job vacancies nationally in May, compared to April 2017.
- The availability of professional jobs grew by 10% in May 2017 compared to the same period in 2016.
- There was an increase of 16% in the number of professionals seeking new roles between April and May 2017.
- The monitor also recorded a 6% rise in the number of professionals actively seeking new job opportunities in May 2017, compared to May 2016.
- Despite Brexit a lot of financial services companies are not prepared to commit to large recruitment plans, rather opting to fill positions ensuring they are meeting any extra demands instead of pre-emptively hiring in large numbers.
- Increased merger and acquisition activity is likely as accountancy practice firms look to scale to capture more market share. This is particularly prevalent among smaller firms, who are looking to expand their staff, expertise, service offering and as a consequence, market share.
- There is strong demand for recently qualified accountants, tax consultants and candidates with between two and three years of experience looking to specialise in more niche areas.
- The aircraft leasing and investment management space is very strong with companies looking to improve their overall packages and see how they compare to competitors.
- This is a continuing growth area for recruitment with strong demand for both permanent and contract candidates.
- Brexit has resulted in a steady influx of strong candidates in the contract IT sector who are moving from the UK to Ireland in search of more market certainty.
- Indigenous companies and start-ups continue to drive recruitment in this sector with a number of start-up companies growing their teams quickly, requiring a much faster hiring process than multinational clients and they are therefore making some key hires.
- Demand is strong for .Net, Java and Python developers with experienced infrastructure specialists and DevOp engineers in short supply.
- Machine learning and Robotic Process Automation (RPA) is an ongoing strong focus for IT professionals recruited by companies within the financial services industry.
- Supply Chain is continuing to diversify into specialisation such as logistics, planning and procurement, to ensure greater efficiencies and cost controls. As a result there is more focus on hiring candidates with a strong supplier relationship skillset and experience.
- There is continued demand for candidates with strong operational HR experience managing all employee life cycle activities. In particular demand is high for HR generalists.
- Larger corporations are fuelling the growing demand for HR analysts as the analysis and reporting of employment metrics and data is becoming increasingly important to them.
- There is increasing interest from UK candidates looking at opportunities here in Ireland and continued interest from candidates in overseas markets including Europe, South Africa and Australia who are considering Dublin as a base from which to work (within Europe).
- Demand is strong for job seekers with multilingual skills. MNCs based in Limerick and Galway in particular are seeking candidates with French, German, Spanish and Dutch language skills and market knowledge.
Wednesday 14h June 2017: The number of professional job vacancies available in May 2017 increased by 15% nationally compared to April according to the Morgan McKinley Ireland Employment monitor.
There was an increase of 16% in the number of professionals seeking new roles in May compared to April 2017 and a 6% growth when compared to the same time a year ago. This reflects an upswing following the Easter break and the continuing drop in Ireland’s unemployment rate. It supports estimates that the jobless rate could dip below 6% by the end of this year.
Morgan McKinley Ireland, Operations Director, Bryan Hyland commented:
“This month’s figures are indicative of a very active month following a flat period so we expect this type of uplift. While it’s too early to say if this is a trend that will continue, if it does then it will support estimates that Ireland’s unemployment rate could dip below 6% by the end of the year.
“The General Data Protection Regulation (GDPR) which comes into effect in May 2018 will have an impact on the way in which businesses process and store the personal data of EU citizens. Many businesses, especially SME organisations, are concerned as to how exactly this new regulation will affect their business. Apart from the financial services sector we would be concerned that some businesses are leaving themselves exposed with no great urgency to recruit professionals to ensure compliance in this area and we would encourage them to inform themselves of their obligations under the new law.
“Recruitment in the aircraft leasing and investment management space continues to grow. This is hardly surprising as more than half of the world’s leased aircraft are owned and managed from Ireland. From a recruitment perspective, we believe there will be more opportunities for candidates working in the financial services sector specialising in this area, with companies looking to improve their overall compensation and benefits packages to attract and retain the best candidates in this sector.”
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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, Galway, 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.