Business and candidate confidence in Ireland continued to grow in the first quarter of 2016, with a 10% year-on-year increase in overall job advertisements, according to the latest Robert Walters Job Index. These positive trends have been seen across the majority of sectors, particularly in key areas such as accounting and finance, compliance and HR.
Adverts for accounting and finance professionals increased 21% year-on-year, with demand across Dublin and cities outside of the capital up 21% and 18%, respectively. Due to a general increase in business activity, there was significant demand for professionals across both audit and tax practices, in particular from professional services firms.
Within accountancy, businesses sought financial analysts and finance business partners.
Demand for professionals with a strong accountancy background and the ability to analysedata was particularly high as companies look to add value to their businesses. In cities outside of Dublin, pharmaceutical companies sought candidates with accountancy and start-up experience to set up and manage new finance teams.
Louise Campbell, Managing Director Robert Walters Ireland, said: “The jobs market in the first quarter of this year saw a continuation of the momentum we experienced in 2015.
While there was growth across the majority of sectors, demand for accounting and finance professionals was particularly high. With a significant candidate shortage issue in Ireland, many firms are looking abroad to attract international talent, with many showing a willingness to sponsor professionals who meet the required profile.”
The banking and financial services industry remained active with a 1% increase in job advert volumes on Q4 2015. There was continued demand for candidates with product specific experience, particularly in the payments and fintech sector, as retail banks and start-ups competed for candidates with the relevant experience required. Wealth management and private banking institutions added technical candidates to their teams as firms identified this area as a future reliable revenue stream.
Job adverts for compliance professionals increased by 17% year-on-year overall. Job advert volumes outside of Dublin increased by 29% year-on-year, as an increasing number of international fund services organisations grew their regional teams, and companies in both pharma and biotech looked to grow their internal controls functions.
HR job adverts increased by 26% quarter-on-quarter and 31% year-on-year as businesses built out their HR teams to focus on hiring and staff retention. There was particular demand for qualified professionals within learning & development and e-learning, as well as compensation & benefits and staff engagement.
IT, the largest sector by job volumes, saw continued high demand for candidates with a further 5% growth in adverts quarter-on-quarter. Supported by activity in financial services and insurance, candidates proficient in data analytics were particularly sought after, as were software development professionals. Candidates with maths, statistics or quant backgrounds were also in high demand, with the Dublin area accounting for the majority of recruitment.
Louise Campbell continued: “The volume of job advertisements across sectors has been consistent with previous trends and is further bolstered by supportive market dynamics including; high consumer confidence, positive GDP growth and a decrease in unemployment numbers. Whilst we are mindful of the wider global macroeconomic environment, as well as some concerns over the potential impact of a Brexit and the US elections, we remain quietly confident that we will see continued growth in jobs advertised throughout 2016.”
For more information please contact:
Anita Duignan, Marketing Executive
Tel: +353 (0)1 673 0817