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Professional job opportunities up 12% but talent crunch continues

Jun 14, 2018
The number of professional job vacancies available in May 2018 increased by 12% nationally since April, according to the Morgan McKinley Ireland Employment Monitor. Overall, the availability of professional jobs reduced by 14% in May 2018 compared to the same month a year ago. There was a reduction of 4% in the number of professionals seeking new roles in May compared to the previous month. The monitor also recorded a decrease of 17% in the number of professionals actively seeking new job opportunities in May 2018, compared to May 2017.

Morgan McKinley Ireland, Global FDI Director, Trayc Keevans commented: "May was an active month in terms of jobs announcements and hiring activity. The job flow was steady overall with high demand in certain key areas including IT, supply chain and financial services. HR remains a very buoyant sector as companies continue to grow their employee numbers. The moderate reduction in the number of professional job seekers in May, compared to April, is largely seasonal in nature as there is usually less mobility and attrition to be seen in the market at this time of year. The year-on-year reduction, both in vacancies and in professionals seeking new roles, should be seen in the context of near full employment where there has been a lot of career mobility and significant jobs growth to date.

"In May, big data skills and experience, project management and user interface/user experience design were the primary drivers of the IT sector. The development space is very busy across the board. The busiest area appears to be Java with microservices or Java with big data such as Hadoop and Spark. The Javascript market (Angular and React) is also very busy with a huge demand for candidates.

"Similarly, in finance there was a spike in demand for fund accountants and commercial insurance professionals with an urgent need for audit, tax, corporate finance, business advisory, consulting and transformation experience.

"Along with a tighter jobs market indigenous companies are much more aware and interested in their competitors' benefits and there has been further growth in flexibility offered through working from home options, flexi-time and sign-on bonuses. A small cohort of employers are looking at more tailored benefits to address the pain points of their employees as a retention strategy which includes childcare vouchers, ad hoc overnight expenses for those travelling long distances to work, as well as flexibility in structure of the working hours of their day to allow for drop-offs and pick-ups from crèche etc.

"More recently with unemployment falling below 6% for the first time in 10 years and the forecasts for economic growth continuing into 2019, our ability to continue to attract international talent to meet the demand for employment opportunities has never been more critical. We are starting to see a reluctance creeping in for talent in some sectors to relocate to Ireland, most notably in technology, because of the message they are hearing and reading about on the lack of supply of appropriate standard of accommodation to rent or buy on the market. This needs an urgent solution and communication of same to ensure we instill confidence in this international talent community that Ireland remains the best place to live, work and progress their career."

Source: Morgan McKinley.