Morgan McKinley Irish Employment Monitor February 2014
· There was a 4% increase in the number of professional job opportunities when compared to the same month last year.
· February 2014 saw a 12% decrease in the number of professionals entering the employment market compared with January 2014.
· Compared to the same time last year this is a 24% decrease in the number of new professional job seekers on the market.
There are promising indicators of hiring activity in the Irish economy as the February 2014 Morgan McKinley Irish Employment Monitor registered a 4% increase in the number of jobs available compared to the same month last year (9,570 compared to 9,177). However, the results of the Monitor also showed a 10% decrease in the number of new professional job opportunities from January 2014 (10,666) to February 2014 (9,570).
In terms of professional job seekers entering the market, there was a month-on-month decrease of 12% from 8,430 in January 2014 to 7,450 in February 2014. There was also a fall of 24% recorded in the number of professionals seeking new career opportunities compared to the same month last year (9,800).
Karen O’Flaherty, chief operations officer at Morgan McKinley, commented, “Although still early in the year, promising indicators of hiring activity continue across a number of sectors and within a range of businesses including multinationals, SMEs and startups. As organisations continue to release annual recruitment budgets in-line with building out new teams or restructuring their internal divisions, many professionals are re-evaluating their career paths and longer term opportunities.
“Though some organisations are constrained within the protocol of a long interview process, particularly the multinationals, small to medium sized businesses can benefit by expediting the decision making in order to secure top talent.
“There is an ongoing demand for many skill sets including:
· Insurance and claims professionals as a result of the recent bad weather
· Audit expertise in banking and insurance (both commercial and consultancy experience) driven by central bank regulations
· Fund professionals (fund accountants and transfer agency) as this dynamic sector continues to develop in Ireland.
“Skills shortages are evident in the IT sector, specifically within DevOps, IOS, Android and IT security and mobile. Clients are more open to looking at professionals who may have visa restrictions than in the past and as more funding and projects are signed off across the technology landscape, senior project managers and experienced contractors are sought after.
“Professionals with environmental health and safety knowledge are specifically in demand within the science and R&D sector. This increase is due to a number of factors including employers investing in improvements within the workplace and overall competitiveness coupled with increased regulation and compliance as employee numbers grow within their organisations.
“In many areas where skills shortages are evident, more professionals are finding themselves with multiple offers for consideration. We have also seen a rise in professionals open to relocate as they prioritise factors when considering alternative or new opportunities, in particular a more lucrative base salary.
“Looking further ahead, we predict continued optimism in the professional hiring market with evidence of skills shortages becoming more apparent in more areas and organisations as the year progresses.”