May Employment Monitor | Professional jobs opportunities up 40% compared to May last year

Aldagh McDonogh 15.06.2015

Professional jobs opportunities up 40% compared to May last year

Highlights Overall

  • 40% more professional opportunities recorded in May 2015, compared to the same month last year.
  • Numbers of professionals seeking new roles was down 12% compared to May 2014.
  • A 1% month-on-month decrease in job availability in May 2015, compared to April 2015
  • Construction / building services sector recorded the highest number of jobs in May since the start of 2015 with strong demand for engineers, project managers and service engineers.
  • Cyber security roles in the IT sector have grown month-on-month in 2015 as security concerns are increasingly recognised as posing a global threat to business.
  • SME sector continues to recover with increased hiring activity, but it remains a challenging environment as they compete with multinationals for talent.
  • Many of the jobs created in 2015 are new roles and do not include legacy skill sets, adding to the recruitment challenge.
  • Companies are responding by sourcing professionals from overseas and are focusing on pipelining future talent by developing stronger links with Universities and third level institutions.

 


Further Insights

  • Gap between flow of professional opportunities and available talent continues to widen.
  • In Banking and Financial services, the monitor recorded an increase in roles within lending, credit risk and underwriting indicating higher volumes of commercial and corporate lending activity and related risk management requirements.
  • Noticeable rise in the demand for corporate tax accountants within multinationals and Irish plcs, driven by international tax compliance requirements and increased M&A and restructuring activity
  • The office support sector was active generally on a national basis, retail was the exception however with no demonstrable rise in activity in this area. There was an increase in demand from the public sector for both long and short term administrative roles in May.
  • Multilingual professionals remain in high demand, with German again the most sought after language.

 


Wednesday 17 June 2015: The May 2015 Morgan McKinley Irish Employment Monitor registered a 40% increase in professional job opportunities (13,314) when compared with the same month last year (9,368). There was a 12% decrease in the number of professionals seeking employment this month compared to May 2014, highlighting the widening gap between current opportunities and available talent.

Morgan McKinley Ireland Operations Director, Bryan Hyland, commented:

“May has been a very active month in terms of hiring activity. The CSO’s recently released figures which indicate unemployment dipped below 10pc in the first three months of the year, would be reflected in our own data when comparing levels of activity this month versus last.

Job flow is steady overall with high demand in certain key areas including IT, particularly cyber security and banking and financial services. HR remains a very buoyant sector as companies continue to grow their headcounts.

In line with the commentary in the recent Ulster Bank construction report, we are seeing the improved activity in the commercial and private construction markets resulting in a steady increase in demand for a range of professional job opportunities 

The gap between those seeking employment and opportunities available continues to develop. The higher rates of employment generally have resulted in less people looking for jobs. Furthermore many of the new professional opportunities are highly skilled, specialist roles that do not require legacy skill sets.  Companies are having to develop creative recruitment strategies in response, from sourcing professionals overseas, to pipelining future talent by developing stronger links with Universities and third level institutions. 

The SME sector in particular is increasingly focused on hiring outside the EU, despite the additional administrative burden this involves. Challenges competing with multinationals for talent are driving this search.”

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