Professional job opportunities availability falls 1% MoM, finds Morgan McKinley Ireland
The availability of professional job opportunities in May 2016 (12,056) fell slightly, by 1%, when compared to the previous month (12,203) according to the Morgan McKinley Irish Employment Monitor.
The number of professionals seeking new roles rose by 9% this month (8,300) when compared to April 2016 (7,588). It was up 2% when compared to May 2015.
According to the monitor, there was a decrease of 9% in professional job opportunities compared to May 2015.
In finance, risk and insurance professionals are in high demand, Morgan McKinley Ireland says. Hiring within the funds sector remains static due to an uncertain international environment and possible Brexit. The report also revealed that Fintech roles grew within finance and banking as manual processes become increasingly automated.
Recruitment within IT overall has remained buoyant across both permanent and contract roles. Big data and security roles have seen intense hiring activity this quarter.
Multi-lingual candidates continue to be sought after, the company states. Employers are increasingly using technology such as Skype and Sonru to speed up recruitment campaigns.
There is strong demand regionally for both property and employment lawyers.
Morgan McKinley Ireland says that overall the hiring market in Q2 can be described as cautious, with companies unwilling to make recruitment decisions at the same pace as last year. This is due to a combination of both domestic and international factors, including Brexit.
Ronan Hill, operations director finance with Morgan McKinley Ireland, commented, “Global uncertainty and concerns over the possible impact of Brexit are impacting the pace of recruitment, creating a level of inertia in the hiring market when compared to the same time last year.
“In particular, the prospect of Britain leaving the EU, however slight at this juncture, has undoubtedly had a dampening effect on hiring intentions and patterns over the last 4- 6 weeks.
“Conversely, we anticipate Ireland could be in for a significant jobs boost in the event of a “remain” vote, with companies experiencing a renewed sense of confidence in resource planning.
“In May, big data and security roles were the primary drivers of the IT sector. Talent shortages are still a concern within the industry. We have seen permanent roles migrating to contract status due to time pressure and candidate shortages.
“Salary inflation continues to be a feature of sectors where there is a more limited pool of talent such as IT and multilingual. The increase, year-on-year, in the number of work permits being granted to employers to enable them to bring non-EU citizens to work in Ireland is an indicator of how necessary a pipeline of international talent has become.
“In finance, the growth of Fintech continues to create new demand for professionals with both finance and technology backgrounds. The funds sector however remains static.
“In summary, decisions on new hires across a variety of sectors have shown signs of a slowdown in Q2 primarily due to international uncertainty.”