Press Release: Irish Employment Monitor - December 2013

Aldagh McDonogh 15.01.2014

December Highlights

  • A marginal decrease (1%) in the number of new professional jobs coming onto the market in December 2013 compared to December 2012.
  • Compared to the previous month, the number of new professional job vacancies is down 22%.
  • Compared to the same time last year, this is a decrease of 6% in the number of professional job seekers in the Irish market.


 

2013 Highlights

  • There was a demand for job titles, such as ‘Mortgage Underwriter’ and ‘Commercial Lender’, not seen since the beginning of the economic downturn.
  • Overall there was an increase in permanent hiring along with growth in salaries, specifically ICT, Pharma and HR. However, Morgan McKinley anticipates skill shortages in these areas in 2014.

 


The Morgan McKinley Irish Employment Monitor has registered a 1% decrease in jobs coming onto the market this year from December 2012 (6,861) to December 2013 (6,785). Regarding the month on month figures, a drop of 22% from November (8,704) to December (6,785) of this year was recorded.

With regard to new professional job seekers entering the market in December 2013 compared to the same month in 2012, the number fell by 6% from 6,000 to 5,658. This was a month on month decrease of 23% from 7,320 in November 2013.

This edition of the Monitor also analysed 2013 as a whole with the findings pointing to a buoyant professional hiring market in 2014 (see below).


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

“Due to seasonal factors, December is typically a quieter month for job activity and candidate availability. Employers are more budget and decision sensitive in terms of headcount at the end of the year or awaiting confirmation of forecasts and plans in the new year. Job seekers equally are less active and more risk averse as the holiday season approaches. This explains why the hiring and job seeker figures are lower compared to previous months in the year. Also, market information identified that more employers are paying year-end bonuses, (often paid out in January or early Quarter1), contributing to the fall in professionals actively seeking new positions.

“However, observing 2013 in its entirety, Morgan McKinley has noted some developments in Ireland’s recruitment landscape:

  • A return to more traditional job titles such as ‘Mortgage Underwriter’ and ‘Commercial Lender’ signalling a demand for certain key skills, not seen since the start of the economic downturn as the economic situation improves. Furthermore, there are more opportunities for mid to senior-level roles showing that businesses are willing to hire and pay for more senior and executive professionals than in previous years.
  • Overall an increase in permanent hiring as business confidence returns married with an increase in salaries and rates in some niche areas, specifically ICT, Pharma and HR. This demonstrates the pending skill shortages and demands on talent in 2014.
  • In the financial services sector, many wide scale restructuring and change programs are fully implemented and companies are now looking for talented professionals on a permanent basis to reinforce their newly formed teams.
  • Opportunities across all disciplines are more hybrid than in the past, focusing on a blended skill set, combining technical expertise and people skills.  Employers are more demanding and considered in terms of expectations when hiring new employees.


“Looking forward to 2014, we anticipate renewed confidence and activity in hiring from existing and new employers. We expect greater movement and mobility from job seekers, both nationally and internationally than in previous years.

“2013 saw pockets of hiring due to organic growth of companies and this positive trend is set to continue into 2014. Last year also welcomed a return of increased hiring within start-ups and SMEs and we are optimistic that this trend will go from strength to strength this year.”


Note: The Morgan McKinley Salary and Benefits Guide 2014 will be published in the coming weeks. It includes extensive research on salaries within 15 professional disciplines and detailed information on benefit packages.


View previous versions of the Morgan McKinley Irish Employment Monitor.


Chart 1: Professional jobs

jobs

 

Chart 2: Professional job seekers

seekers

 

ENDS

*Notes to editors*

Further press information:
Mike Miley, MKC Communications | T: +353 1 703 8600 | E:  mike@mkc.ie
Monica Beresford, Morgan McKinley | T: +353 1 4321555 | E: mberesford@morganmckinley.ie

Spokespeople available on request for further industry insights and commentary:
Susan Kelly  –  Banking
Elaine Kennedy – Science, Supply Chain, Engineering
Ann O’Mahony – Office Support

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

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 2013, Morgan McKinley was recognised in the Irish Independent’s listing of Best SME Workplaces in Ireland. We are also proud to be ranked in Deloitte’s Top 20 Best Managed Companies in Ireland for 2013.

Morgan McKinley London Employment Monitor

Morgan McKinley currently publishes a similar Employment Monitor in London. It was launched in 2004 and reports on the new roles, candidates and salaries within the financial services jobs market in London each month. Visit www.morganmckinley.co.uk for details.

Transformation Director
amcdonogh@morganmckinley.com