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MORGAN McKINLEY IRISH EMPLOYMENT MONITOR DECEMBER 2011

MORGAN McKINLEY IRISH EMPLOYMENT MONITOR DECEMBER 2011

Survey finds 65% of professional employers in Ireland plan to hire in 2012

New professional job opportunities up 34% year-on-year in 2011

Hiring Intentions Survey highlights:

Morgan McKinley’s recent Hiring Intentions Survey of 584 senior-level operational and HR managers found that 65% of professional employers in Ireland have hiring plans for 2012. A further 12% are still unsure of their recruitment strategies, whilst the remainder (23%) have no plans to hire over the next 12 months.

More than half of managers (58%) expect their firms’ hiring levels to increase in 2012, compared to 2011.

Irish Employment Monitor highlights:

The Morgan McKinley Irish Employment Monitor shows a 34% year-on-year increase in the total number of new professional job vacancies registered in Ireland in 2011.

December 11 registered a 9% month-on-month decrease in the number of new professional jobs in Ireland. There was however an increase of 29% in the number of professional job opportunities when compared to December 10.

The number of professionals seeking new jobs fell by 48% month-on-month in December 11 but increased 5% compared to the same month last year.

12th January 2012 - In November 2011, Morgan McKinley surveyed 584 senior-level operational and HR managers working for financial services, professional services, manufacturing and IT companies across Ireland. Respondents were asked to share their views on business confidence, hiring and remuneration trends, and HR challenges for the year ahead.

Positively, the survey found that the majority (65%) of professional employers have plans to hire in 2012. A further 12% are still unsure of their recruitment strategies, whilst the remainder (23%) have no plans to hire over the next 12 months.

More than half of managers (58%) expect their firms’ hiring levels to increase in 2012, compared to 2011, whilst 35% predict levels will remain similar to last year. Only 6% believe hiring levels will decrease within their organisations year-on-year.

Karen O’Flaherty, Chief Operations Officer, Morgan McKinley Ireland commented:
“Undoubtedly, 2011 was a turbulent year for Ireland. A new government was formed, a harsh austerity Budget was unveiled and shockwaves from the eurozone crisis affected decision making domestically and abroad.

“There is still considerable uncertainty in the marketplace but many companies, particularly multinational corporations and export-led firms, are gearing up for a busier 2012. Our research shows that the majority of professional employers have plans to hire over the next 12 months, a positive indicator for the Irish economy.

“Current & lsquo;high performers’ are the bio-pharmaceutical, medical device and IT sectors. These industries were major drivers of recruitment in Ireland in 2011, a trend which looks set to continue well into the New Year.”

The latest Morgan McKinley Irish Employment Monitor registered a 9% month-on-month decrease in new professional job opportunities, down from 7,345 in November 11 to 6,720 in December 11. However, there was an increase of 29% when compared to the 5,227 jobs recorded in the same month last year.

The total number of new professional job vacancies registered for 2011 was 93,552, a 34% increase on the 2010 total of 67,592. Although this strengthening of the market is positive, it is still well below the 208,633 jobs recorded during the boom period in 2007.

The number of professionals entering the Irish jobs market decreased by 48% from 10,885 in November 11 to 5,620 in December 11. There was a slight increase (5%) from the 5,365 job seekers looking for new roles in December 10.

Karen O’Flaherty continued:
“It is usual for hiring and job seeker activity to decline in December. Recruitment tapers off during the festive season and in many cases, companies’ recruitment budgets have been exhausted for the year.

“It was a subdued end to a relatively robust year for professional recruitment: the Irish Employment Monitor recorded 93,552 new professional jobs in 2011, marking a 34% increase year-on-year. Although this bodes well for business growth moving into 2012, it must be emphasised that we are still well below the level recorded during the boom period in 2007, in which approximately 208,633 new professional roles came onto the market.”

“The financial services sector experienced quite a turbulent year in 2011 but certain niche skill sets emerged as a result of this. Restructuring and debt recovery specialists, qualified financial advisors and collections professionals were highly sought after and fixed term contracts featured heavily given the current flux in global financial markets.

“Without a doubt IT was Ireland’s & lsquo;good news’ story for business and jobs growth in 2011. It is has been widely publicised that demand for talented IT professionals often outstrips supply, particularly within the field of software development. We expect this demand to continue in 2012.”

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