Highlights Overall
- The number of professional job vacancies increased by almost 30% when comparing September 2014 (10,572) to September 2013 (8,184).
- However, the number of professional candidates available has fallen from 9,670 in September 2013 to 8,930 in August 2014 to 7,400 in September 2014.
Further Insights
- Job seekers market: From IT to accounting, the number of positions exceeds the number of available candidates. As a result, counter offers are prevalent and salaries are increasing.
- Candidates looking at firms’ culture: Many professional seeking employment are looking beyond the standard benefits package on offer and at potential employers’ culture and values.
- Employers need to use data: Organisations need to use data to identify trends and potential employees’ needs. Those who don’t will face greater challenges when sourcing the right talent.
There has been a 29% increase in professional job vacancies for September 2014 when compared to the same month last year according to the Morgan McKinley Irish Employment Monitor. This is a historic increase according to Morgan McKinley Ireland Chief Operations Officer, Karen O’Flaherty and is further evidence of the growing strength of the jobs market.
The Morgan McKinley Ireland COO added that, currently, it is a ‘professional job seekers market’ and employers will have to take account of this by using data to identify latest trends and job seekers needs:
“The results of the Morgan McKinley Employment Monitor highlight not only the vitality of the professional jobs market with vacancies opening up across all sectors, but also the favourable position that many job seekers are now in.
“In all professional sectors, from Finance to Tech, Engineering and HR, there has been a huge spike in the number of vacancies on offer, both compared to this time last year as well as August, which itself was a record month. The numbers of suitable candidates available is not matching the vacancies on offer leading to a ‘job seekers market’.
“Professionals seeking employment are aware of the market conditions and are more active in considering offers, especially since counter offers are now prevalent in areas such as tech and accounting & finance. Intriguingly, professional job seekers are also becoming savvier when it comes to potential employers and, as opposed to just examining the benefits packages on offer, are looking at the culture and values of the company.
“Employers need to take account of all this or they will face challenges when trying to source the best talent. The companies that make best use of data to identify trends in the workforce and the requirements of potential employees will be the employers that attract the top professionals.
“Within sectors, we are seeing a continuation in tech where there is a huge demand for permanent positions in niche areas like .Net and Java but there are not enough professionals available to fill the positions. For those that are moving, the entire benefits package is key with tech employees looking for packages that include bonuses, flexibility to work from home as well as healthcare on offer.
“There is notable increase within the SME sector for senior level finance manager roles and the banking sector has seen steady growth, especially when it comes to financial services accounting. As was the case for the last number of months, the professional job increases across all sectors have led to a greater need for back office support.
“Finally, employers are reporting that, despite the skills shortage in some areas, they are seeking to employ locally as opposed to searching abroad to fill positions. The difficulty in relocating staff is a prime reason for this.”
View the September Employment Monitor Infographic
Chart 1: Professional jobs
Chart 2: Professional job seekers
