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Professional job vacancies up 21pc in yr

Wednesday, August 13 10:22:41

Further signs that the recovery is gathering pace emerged today with a survey showing that there was a 21pc rise in the number of professional job vacancies in the past year with the construction sector showing strength.

There were 9,699 professional job vacancies available in July compared to the same month last year compared to 7,681 in the same month last year, according to the latest Morgan McKinley Monthly Employment Monitor today.

There was a 3pc decline in new vacancies between June and July, but this is a normal seasonal fluctuation, it said.

The number of professionals seeking jobs in July 2014 at 9,500 was up by 4pc compared to the previous month (9,125) and 3pc compared to July 2013 (9,240).

The property sector has rebounded strongly with knock-on positive effects for professional jobs in areas of finance and back office support, the survey showed.

It also found that there are major talent shortages in niche areas in financial services and pharma such as regulation and compliance.

Morgan McKinley Ireland Chief Operations Officer, Karen O'Flaherty said that many employers are recognising the changes in the jobs market and are endeavouring to attract top talent with packages that focus on more than traditional pay and benefits.

"Ireland's revival is taking hold as evidenced by the swell in the number of professional jobs vacancies across industries from financial services to pharma to ICT, engineering, science and back support compared to this time last year. Many job seekers in sectors such as financial services and pharma are in the enviable position of being able to attract several offers and those in accounting and finance are seeing an improvement in the packages on offer as opposed to just six months ago," she said.

"The pick-up in activity in the property sector is resulting in an increase in demand for financial services positions and back office support. This goes to show that any upturn in an industry as large as construction inevitably leads to the creation of professional, managerial and administrative roles in all geographical regions," Ms O'Flaherty added.

"Interestingly, we are seeing a severe shortage of available talent in certain areas of financial services such as regulatory affairs and compliance. These 'niche positions' will become more important in the coming years but our analysis shows that the lack of supply of suitable professionals will continue for some time. As a result, companies will need to put in place internal upskilling programmes to meet their firms' needs. To ignore this will result in adverse effects for companies growth and survival prospects."

"Finally, the competitive jobs market has led many employers to become more conscious of the entire salary and benefits packages on offer rather than focusing solely on pay when it comes to attracting top talent."

For more visit: www.businessworld.ie