Record number of jobs created leading to an increase in the number of Irish Emigrants returning home.
Salaries: Salary increases of 5%-10% are anticipated for specialist positions in a range of sectors including Life Sciences, IT, Accounting & Finance, Legal, Insurance, Science and Engineering.
Talent: Digital Media, ICT, Life Sciences, Engineering and Financial Services professionals will be most in demand in 2015.
Reward strategies: Businesses offering comprehensive training and career development opportunities in addition to more holistic benefits are most successful in retaining and attracting in-demand talent.
Returning emigrants: More Irish emigrants are returning home confident of securing employment as the professional recruitment market rebounds.
Inward Investment: IDA Ireland had a record year with 15,012 new jobs created and 174,488 professional’s employed in 1150+ client firms – the highest on record.
The guide includes data for average salary ranges across all sectors. View the full guide here.
Monday 26 January 2015: The Morgan McKinley 2015 Irish Salary & Benefits Guide - Ireland’s most comprehensive analysis of pay and benefits across a range of professions and sectors - has revealed a more confident employment market with salary increases now back on the agenda in most areas. Digital Media, ICT, Engineering, Life Sciences and Financial Services professionals will continue to be most in demand while Multilingual and Sales professionals with pan-European/global experience, and marketing experts with online and digital knowledge, will continue to be sought after. In the IT sector the increase in high profile cyber-attacks has driven demand for security professionals.
The news that insolvency and corporate restructuring is the one business area within accountancy firms which has ceased to grow is a further indication of the strength of the recovery in the economy.
The Morgan McKinley Guide has been compiled with the support of data gathered by the company’s Inward Investment team from a sample of more than 30,000 professionals placed in 2014 in Ireland. Additionally trends, market intelligence and market sentiment were obtained from a large cross section of employers. This research, combined with the publication of the Morgan McKinley monthly employment monitor, has facilitated predictions of current and future skills and talent requirements as well as valuable benchmarking analysis for professional job seekers and hiring companies.
“This is the first time for many years that we have been able to report a buoyant recruitment market across all sectors and professions”, said Morgan McKinley, Director of Inward Investment, Trayc Keevans.
“But we cannot afford to become complacent and there are already signs of talent shortages in a number of areas. Multinational organisations account for almost 10% of the Irish workforce and as the economy grows, fuelled largely by foreign direct investment and export-orientated businesses, sourcing the best talent will become increasingly challenging. 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 top class professionals cannot be underestimated.”
Salary increases have again become a feature of the market. “As demand increases the supply of talent becomes tighter and there is a natural upward pressure on salaries”, Ms Keevans added. “We are seeing increases of between 5% and 10% for specialist roles in almost every sector with even the retail banks now looking at salary reviews once again. Equity forms a greater proportion of the overall package for Senior Executives. However, our continued findings are that organisations with a strong employer brand, offering comprehensive training and career development opportunities in addition to more holistic benefits are the most successful in retaining and attracting in-demand talent. Employers have become more consistent in examining their current reward structures with many re-aligning them to attract and retain employees.”
Accounting & Finance
Financial Services & Banking
Tax and Practice
Sales & Marketing
“We are very optimistic for 2015 with all indicators suggesting it will be a strong year for job creation in the professional recruitment market.”, said Trayc Keevans. “But Ireland must continue investing in talent as well as having a competitive offering to attract talent from overseas. The return of Irish emigrants is a welcome feature of the market and this must be encouraged.”
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Further press information:
Rachel Graham, MKC Communications, 01 703 8600
Notes to editors:
Irish owned Morgan McKinley carried out an analysis of a sample of over 30,000 placements using internal data gathered in 2014. It was compiled by the Morgan McKinley Inward Investment team.
The data was gathered from placements made in each of our specialised markets, which include; Accounting & Finance, Customer Service, Engineering, Financial Services, Human Resources, IT, Office Support, Sales & Marketing, Supply Chain, Science, Tax, Practice and Legal.
The results of this research have been collated and published in our 2015 Ireland Salary and Benefits Guide, available in full on our website: www.morganmckinley.ie
About Morgan McKinley
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 specialist professional recruitment expertise spans a wide range of divisions including but not limited to Accountancy & Finance, Financial Services, IT, Supply Chain, Science, Engineering, Multilingual, Sales and Marketing, HR , Customer Service, Office Support and Managed Services.
Morgan McKinley is a preferred supplier to many of the major employers and thousands of smaller local firms in its specialist sectors.