March Employment Monitor - Growing economy continues to boost Professional Jobs Market in Ireland
4% month to month increase in professional job vacancies nationally in March, compared to February 2017.
- Overall, the availability of professional jobs reduced by 10% in March 2017 compared to the same month a year ago.
- There was a reduction of -8% in the number of professionals seeking new roles between February and March 2017.
- The monitor recorded a 22% increase in the number of professionals actively seeking new job opportunities in March 2017, compared to March 2016.
- The majority of companies seeking finance professionals are doing so on the basis of projected growth, as opposed to consolidating their current staff numbers. This is a nationwide trend and not just confined to the Dublin Area.
- Skills currently in most demand include Audit, Fund Accounting, Financial Planning & Analysis and Insurance (particularly Compliance). It is positive to see a continuing requirement for staff in corporate finance, consulting and risk management, with ongoing transference from restructuring and insolvency roles indicative of an improving economy.
- Companies are increasingly prepared to recruit financial skill sets outside of their core industry expertise and cross train where skills shortages are becoming difficult to source.
- In the finance sector nationwide, recently qualified job seekers continue to command salaries of between €45k - €50k
- Demand for IT professionals is continually buoyant and this is not just confined to technology based industries. In the core ICT sector, there are multiple opportunities for experienced developers across the .NET and Java space and a constant flow of requirements for professionals with skills in User Experience (UX), User Interface (UI), web developers and specialists in DevOps (development Operations).
- The market for IT Contractors sees a continuing requirement for people with core languages including C# and Java across all industries (including Banking, SME and Technology). Demand remains strong in Banking for Test, Development and Tech support.
- Across all sectors, people with digital skills remain in high demand including cyber security specialists where there is a continuing emphasis on network and data security including compliance with legislative requirements.
Supply Chain / Manufacturing
- There is a consistent demand for Manufacturing Engineers, Quality Specialists and R&D Engineers. This is far outweighing supply and these skill sets take longer for companies to source.
- Transferability of skills from industry to industry is growing where for example; pharma sector recruiters will consider applicants from a medical devices background and vice versa.
- The SME sector continues its resurgence and this is contributing strongly to employment creation.
- Current stability and growth within the Irish economy is leading to continuing jobs creation and overall competitiveness in the recruitment market. Companies are continuing to focus on talent acquisition and retention and this in turn is creating opportunities for HR professionals where businesses are enhancing their human resources management capabilities.
- As compensation and benefits form a key element of employment conditions, there is demand for HR staff with experience in this area, including EU, UK and Irish market experience. This is also true for HR professionals with experience in strategic learning and development programmes designed to retain key talent and to ensure well defined career pathways for employees.
- Hiring activity is strong for staff with multilingual skills, including continuing demand for Dutch and German. There is an ongoing trend of businesses transferring operations to Ireland as a base for the EMEA region with a particular demand for staff with language skills in Spanish, Portuguese and French.