‘It’s very much a candidates’ market right now’
Ireland is facing an undersupply of skilled and experienced candidates in the financial services sector and competition to attract talent is expected to be intense this year.
That’s according to Matrix Recruitment, which published its Salary Guide for 2022 and found a 52% increase in jobs in accounting and finance in the first half of 2021 and anticipates further demand as we move through the year.
MD of Matrix Recruitment Kieran McKeown said: “The jobs market has grown significantly in the past year and while things can change quickly, largely driven by the pandemic, all indicators are that the recruitment market will remain dynamic throughout 2022.
“With many sectors struggling to fill job vacancies, it’s very much a candidates’ market right now. We know from our research that 43% of workers in Ireland are not happy in their jobs, so there has never been a better time to consider a new job or indeed, a new career.
“We are hearing a lot about ‘the Great Resignation’ with many people leaving their jobs in response to the Covid-19 pandemic, having rethought their career goals and this is a trend we see continuing into next year,” he added.
Growth in financial
services & IT sectors
“Rising property prices, rents and the continuation of Government advice to work from home is seeing many people leave Dublin and relocate to the countryside. This means that there is a widening of the talent pool in the midlands, west and south and we are seeing marginal increases on salaries in these areas, particularly for roles in IT, engineering and accountancy,” said Kieran McKeown.
Pharmaceuticals, public sector & healthcare
It will come as no surprise to learn that pharmaceuticals, medical devices and public sector roles were in high demand in 2021, topping Matrix Recruitment’s jobs database, followed closely by roles in healthcare.
Last year, there was significant growth in the pharmaceutical sector mainly due to company expansions, investments, and the Covid-19 vaccine journey. For 2022, Matrix Recruitment predicts a rise in cross-industry and cross-enterprise collaboration in areas such as research and development.
This will result in candidates having to be open to contract work in the months ahead as they may be required to work on projects continuously.
“There is a shortage of skilled candidates in many areas of the Irish workforce and while this creates its own challenges, it’s a good time for candidates to look around and see what other possibilities might be knocking. In 2021, we saw a rise in the number of candidates looking for added benefits when considering a job. It’s no longer just about the pay or the pension, and employers need to be willing to get creative in 2022 if they want to attract and retain the best talent,” concluded Kieran McKeown.