Significant jobs growth with 29% increase in professional jobs in just one year

Aldagh McDonogh 13.10.2014

“Monitoring the pulse of the Irish professional jobs market”

Highlights Overall

  • The number of professional job vacancies increased by almost 30% when comparing September 2014 (10,572) to September 2013 (8,184).
  • However, the number of professional candidates available has fallen from 9,670 in September 2013 to 8,930 in August 2014 to 7,400 in September 2014.

Further Insights

  • Job seekers market: From IT to accounting, the number of positions exceeds the number of available candidates. As a result, counter offers are prevalent and salaries are increasing.
  • Candidates looking at firms’ culture: Many professional seeking employment are looking beyond the standard benefits package on offer and at potential employers’ culture and values.
  • Employers need to use data: Organisations need to use data to identify trends and potential employees’ needs. Those who don’t will be more challenged when sourcing the right talent.

Tuesday October 14th 2014

There has been a 29% increase in professional job vacancies for September 2014 when compared to the same month last year according to the Morgan McKinley Irish Employment Monitor. This is a significant increase according to Morgan McKinley Ireland Chief Operations Officer, Karen O’Flaherty and is further evidence of the growing strength of the jobs market.

The Morgan McKinley Ireland COO added that, currently, it is a ‘professional job seekers market’ and employers will have to take account of this by using data to identify latest trends and job seekers needs:

“The results of the  Morgan McKinley Employment Monitor highlight not only the vitality of the professional jobs market with vacancies opening up across all sectors but also the favourable position that many job seekers are now in.

“In all professional sectors, from Finance to Tech, Engineering and HR, there has been a huge spike in the number of vacancies on offer, both compared to this time last year as well as August, which itself was a record month. The numbers of suitable candidates available is not matching the vacancies on offer leading to a ‘job seekers market’.

“Professional seeking employment are aware of the market conditions and are more active in considering offers, especially since counter offers are now prevalent in areas such as tech and accounting & finance. Intriguingly, professional job seekers are also becoming savvier when it comes to potential employers and, as opposed to just examining the benefits packages on offer, are looking at the culture and values of the company.

“Employers need to take account of all this or they will face challenges when trying to source the best talent. The companies that make best use of data to identify trends in the workforce and the requirements of potential employees will be the employers that attract the top professionals.

“Within sectors, we are seeing a continuation in tech where there is a huge demand for permanent positions in niche areas like .Net and Java but there are not enough professionals available to fill the positions. For those that are moving, the entire benefits package is key with tech employees looking for packages that include bonuses, flexibility to work from home as well as healthcare on offer.

“There is notable increase within the SME sector for senior level finance manager roles and the banking sector has seen steady growth, especially when it comes to financial services accounting. As was the case for the last number of months, the professional job increases across all sectors have led to a greater need for back office support.

“Finally, employers are reporting that, despite the skills shortage in some areas, they are seeking to employ locally as opposed to searching abroad to fill positions. The difficulty in relocating staff is a prime reason for this.”

View previous versions of the Morgan McKinley Irish Employment Monitor.

View the September Employment Monitor Infographic

Chart 1: Professional jobs

Professional jobs

Chart 2: Professional job seekers

Professional job seekers                                                                                                      

 – ENDS –

Notes to editors 

Further press information:
Mike Miley, MKC Communications | T: +353 1 703 8600 | E: mike@mkc.ie

Spokespeople available on request for further industry insights and commentary:
Ann O’Mahony – Office Support 
Bryan Hyland - Science, Supply Chain, Engineering
Siobhan O’Shea – Financial Services

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