Fewer available for jobs as wages rise

Jobseekers are now calling the shots in the Irish labour market, as the number of available suitable candidates is not matching the record level of quality job vacancies, according to one of the country’s leading recruiters.

According to Morgan McKinley’s latest monthly employment monitor, September saw a 29% year-on-year rise in professional job vacancies; an historic increase and further evidence of the growing strength of the Irish jobs market.

Karen O’Flaherty, chief operations officer at Morgan McKinley Ireland, said the latest results not only show the vitality of the labour market, here, but also the favourable position many candidates 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 number of suitable candidates available is not matching the vacancies on offer, leading to a jobseekers’ market,” she added.

The number of available professional candidates fell from 9,670 in September of last year to 7,400 in the same month this year. The low levels of suitable candidates is leading to increased salary offers, according to Morgan McKinley’s survey.

This is making candidates more calculated when considering offers, according to the company.

Said Ms O’Flaherty: “Intriguingly, professional jobseekers 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.”

The survey also shows that despite skills shortages in certain areas, employers are still looking to employ locally, as opposed to searching abroad to fill positions.

“The difficulty in relocating staff is a prime reason for this,” Ms O’Flaherty explained.