October Employment Monitor | Finance, IT and Multilingual remain strongest performing sectors this month

Aldagh McDonogh 10.11.2015

Digital skills shortages a concern for future growth.

Highlights: 

  • 6% more professional opportunities recorded in October 2015, compared to the same month last year.
  • The number of professionals seeking new roles was down 10% compared to the previous month, reflecting less movement in the jobs market compared to earlier in the year.
  • Within the IT sector, a 5% increase in software development and Quality Assurance (QA) roles was recorded this month.
  • Also within IT, there was continued high demand for Big Data and Business Intelligence experts.
  • Jobs growth is steady overall but talent shortages within the Tech sector remain and digital skills transfer programmes must be ramped up to meet current economic needs.
  • Many of the jobs created in 2015 are new roles and do not include legacy skill sets.
  • National and international regulatory changes continue to drive recruitment within financial services. 
  • Abolition of the dairy quotas earlier this year has resulted in an increase of roles coming through across all areas of dairy production with Food technologists, Production Supervisors and Food Quality managers in high demand. 
  • Graduate programmes across professional services, engineering, accounting and financial services are a strong feature of the jobs markets again as companies compete for talent.
  • Multilingual professionals remain in high demand, with German again the most sought after language.

 

Wednesday 11 November 2015: The number of professional job vacancies in October 2015 was up by 6% nationally compared to the same month last year according to the October 2015 Morgan McKinley Ireland Employment Monitor.  While there was a 10% decrease in the number of professionals entering the jobs market this month.

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

“Employment growth was steady this month, with a slight increase over September’s figures and a 6% increase on October 2014. The monitor recorded a 10% drop in professionals seeking new roles which is consistent with the time of year.

Talent shortages in core areas of economic activity remain. The higher rates of employment generally have undoubtedly resulted in less people looking for jobs. In the first six months of 2015 alone, IDA Ireland announced that 9,000 jobs had been created. The fact is that many of the jobs created this year are new roles that do not require legacy skill sets. Advancing technology is underpinning this trend, regardless of sector, and is at the core of new emerging job disciplines. Digital marketing is an example of a specific sector seeking expertise in niche and leading edge skills driven by data and mobile, creating unprecedented demand compared to 5 or 10 years ago.

Digital skills transfer programmes must be ramped up and tested to ensure they are fit for purpose in the current market.

Graduate programmes across professional services, engineering, accounting and financial services are a strong feature of the jobs market again as companies compete for talent and as a result need to offer competitive pay, benefits and career pathways. Many of these programmes had been reduced or phased out in recent years. The nature of the candidate driven market at the moment has led companies to again prioritise pipelining talent from third level.

There is continued demand in the accounting and finance sectors with Multinationals and SME's recruiting qualified professionals for roles such as Financial Accountants, Financial Analysts and Business Analysts as their businesses grow. The demand for talent is resulting in upward pressure on salaries and companies having to be innovative regarding their talent attraction strategies.   

Overall, the professional jobs market remains buoyant. At a policy level however, talent availability is one of the key factors which underpins an organisations decision to locate here. Ireland’s need to continue to invest, develop and attract quality professionals cannot be underestimated."

Ends

Professionals Jobs

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Professionals seeking new roles

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Issued by

Rachel Graham, MKC Communications, 01 703 8600

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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