Most firms to hire over the next 12 months

Nearly 90% of firms have committed to hiring new staff over the next 12 months, as two thirds of business leaders see their companies growing faster than the Irish economy next year.

A survey undertaken to coincide with this week’s Enterprise Ireland/Deloitte CEO Forum, at Dublin Castle, shows firms to be optimistic about their outlooks, but the availability of skills in the workforce has overtaken access to working capital as the chief challenge facing them.

Respondent firms now see communications skills as being more important than academic skills when selecting graduates.

Enterprise Ireland chief Julie Sinnamon said: “The survey results aren’t a major surprise to us in Enterprise Ireland. The skills issue is one that is constantly raised by our clients as a key constraint. In response, we have been helping Irish companies develop leadership capability, both of the CEOs and of their wider teams.

“Continuing to win the ‘war for talent’ is a key determinant of success in international markets.”

The survey also shows that as much as 93% of firms intend to expand their businesses over the next year.

“Our business leaders are both optimistic of the country’s strong potential for economic growth and of the ability of their firm to match, or exceed, that level,” said Deloitte managing partner Brendan Jennings.

A high percentage — 74% — also feel that the Government and the Central Bank should not intervene to slow Ireland’s strong economic growth rate, with the country currently expected to be the fastest-growing economy in the EU.