Businesses focus on staff retention amidst a competitive Irish jobs market
The second quarter of 2016 saw job advertisement volumes in Ireland increase by 7% year-on-year, according to the latest Robert Walters Ireland Job Index. The findings demonstrate the continued demand for talent and growth across numerous business sectors in the country, despite market uncertainty in the UK and across Europe.
Candidate confidence remains strong and as a result there is increased levels of staff movement across the board. Candidates are often receiving multiple job offers when seeking new employment and counter-offers are becoming increasingly common upon resignation. A 13% year-on-year rise in advertisements for HR professionals demonstrates that businesses are heavily focussing on the hiring, training & development and retention of staff.
A 5% quarterly rise in advertisements for secretarial and support staff is another sign that businesses are on a growth trajectory; as typically, support staff are ‘non-essential’ hires that are only taken on when businesses are feeling confident about the future.
Suzanne Feeney, Managing Director of Robert Walters Ireland said: “The Irish jobs market is characterised by steady and sustained growth at present. Counter-offering is rife, making for a very busy and competitive landscape. Staff retention is frequently being cited as one of the top priorities for employers, and businesses therefore need to act quickly if they are to ensure that they secure the best candidates.”
In Q2, a continued focus on the financial services sector from local, European and U.S. regulators, coupled with increased candidate movement, led to a 9% rise in advertisements for regulatory professionals. Within risk, there was a 13% increase for risk and quantitative experts; largely driven by the need to enhance credit, liquidity and market risk functions.
The accounting and finance sector remained busy with a 15% year-on-year increase in job advertisement volumes. While Brexit has led to some market uncertainty, there has been a sustained level of hiring within the industry, with a notable demand for candidates with 3 – 5 years’ experience from ‘Big 4’ accountancy firms. This is also being driven in part by regulation, as financial services firms are required to become aligned with financial reporting frameworks.
Suzanne Feeney continued: “The strong demand we’re seeing for talent within banking and financial services, accounting and finance and compliance is in response to business needs and a reaction to regulatory demands, but it is also demonstrative of the continued confidence businesses have in the Irish market. Looking ahead, we expect hiring levels to remain high across all professional business sectors for the remainder of 2016.”
For more information please contact:
Anita Duignan, Marketing Executive
Tel: +353 (0)1 673 0817