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Record hiring in the Irish banking and finance sector

Written by Robert McHugh, on 19th May 2022. Posted in Ireland

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Despite strong growth, 79% of Irish businesses are struggling to fill vacancies. This is just one of the findings of the latest ManpowerGroup Employment Outlook Survey which is based on responses from 425 employers across Ireland. 
 
Irish employers report the highest third quarter hiring intentions since the survey began in 2006. In the third quarter of 2022, employers of all sizes plan to expand headcount significantly, driving the national hiring Outlook to +42%, up 10 percentage-points on last quarter, and an increase year-on-year of 24 percentage-points. Ireland has recorded the highest Net Employment Outlook in Europe, closely followed by Finland (+36%) and the Netherlands (+35%). 

The Banking, Finance, Insurance and Property sector is seeing the highest Net Employment Outlook since records began in 2006 (+50%), up 17 percentage-points on last quarter and up 40 percentage-points year-on-year. Employers in Dublin report a hiring Outlook of +48%, up 19 percentage-points on last quarter and the City’s strongest hiring intention on record. Outside the Capital, Munster (+51%), Ulster (+30%), Connaught (+30%), and Leinster (+30%) follow this robust hiring trend. 
 
Despite record-setting hiring intention across Ireland, the data shows +79% of employers are having difficulties filling vacancies, which is up 7 percentage-points on last quarter. ManpowerGroup say candidates with in-demand skills have more choice and bargaining power than ever before, and employers need to look at talent-sustainable solutions if they want to attract and retain these candidates. The employment experts say this means improving attractiveness to skilled candidates by investing in new training and advancement opportunities, upskilling employees, and making new job opportunities more candidate friendly with benefits like hybrid working and flexible hours.
 
Managing Director at ManpowerGroup Ireland, John Galvin said, "Dublin is continuing to cement its position as a global city of business activity. The Capital’s record hiring is driven by the ever-strong IT & Tech sector holding its strong performance from last quarter and is boosted by all-time high hiring Outlooks from the Dublin-based Finance Sector, Hospitality sector, and Construction sector. This strong performance is echoed across Ireland’s regions, nowhere more so than in Munster. We see this a big vote of confidence in the Irish economy as we enter the third quarter." 
 
Source: www.businessworld.ie 

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