Now in its seventeenth edition, the Robert Walters annual Global Salary Survey is the most comprehensive review of professional salaries and recruitment trends around the world.
In particular, Ireland saw a resurgence of hiring across banking and financial services as global investment banks and domestic banks alike began to compete aggressively for the expertise needed for growth.
Hiring activity also increased rapidly across a variety of commercial sectors, such as ICT, pharmaceuticals and FMCG. There was a steep increase in demand for professionals across all areas of business, contrasting with the previous five years where sporadic recruitment was seen in niche areas only.
This momentum is expected to continue into 2016, with specific shortages occurring in financial, regulatory, compliance, risk, funds, digital marketing and data analytics. As a result, salaries may inflate as employers compete to hire growing numbers of specialist professionals.
Qualified accountants with up to five years’ experience will be highly sought after as finance departments look to add depth to their teams. We expect to see salary increases of up to 10% as employers seek to retain their most valuable employees. Compliance expertise will continue to be sought after in line with regulatory demands.
As the commercial importance of data analysis increases, companies will continue to seek individuals with specialist skills in data analysis and business intelligence (BI).
Louise Campbell, Managing Director Robert Walters, Ireland said:
“In 2016, we also expect to see an increase in counter-offers from companies faced with the need to retain key personnel. Organisations should look to highlight clear career progression, development and training programmes, as well as creating fast-track opportunities for high performers to improve retention levels.”
Companies recruiting new employees should also be prepared for a very different hiring environment compared with recent years. In 2016 the market will be strongly candidate driven, with candidates receiving multiple offers when moving jobs. Hiring managers will need to act quickly to secure their preferred candidates.
As an increasing number of multinationals continue to choose Ireland as a destination for their European operations, hiring managers should consider initiatives that will help persuade Irish talent based overseas to return – widening the pool of available talent.
For more information please contact:
Anita Duignan, Marketing Administrator
T: +353 (0)1 673 0817