The number of jobs advertised in Q4 2014 in Ireland increased by 26% year-on-year, according to the latest Robert Walters European Job Index. This represents the largest year-on-year increase in advertising volumes across Europe, followed by Germany, Switzerland and France which saw adverts increase by 23%, 12% and 11% respectively.
The figures reflect the increased levels of job activity across all sectors, following a year of strong economic growth in Ireland. Signalling growing candidate confidence is a 33% year-on-year increase in senior management and strategic roles, as well as a 30% rise in secretarial and support roles advertised, clearly demonstrating that businesses are recruiting at all levels.
Businesses are increasingly hiring at an executive level, looking for senior professionals with over 10 years’ experience.
Louise Campbell, managing director of Robert Walters Ireland, said: “In a clear sign that both business and candidate confidence have increased, job advertisements surged in the last quarter of 2014. Bolstered by the strong economic growth in Ireland last year, one of the strongest in Europe, we saw both foreign multinationals and domestic businesses investing in growing headcount, irrespective of sector. We are now seeing an increase in candidate scarcity, amongst skilled professionals to the point where we are looking abroad as well as domestically to meet demand.”
The number of banking and financial services roles, increased 41% year-on-year, and 8% on the previous quarter, predominantly driven by the growing funds industry, both in Dublin and regionally. In 2014, job adverts revealed that financial services companies started to invest in revenue generating front office roles, as opposed to just servicing existing business. The growth in this sector has also had a positive knock-on effect on the IT sector, the largest by advertising volumes, which grew by 21% year-on-year. Impacted by ongoing regulatory changes, and companies investing in new IT platforms, the demand for project management skills within IT increased.
Also driven by regulatory demands was the compliance industry, which remained busy in the last quarter, up 15% on Q3 2014. Compliance professionals with experience and project management skills relating to anti-money laundering, AIFMD and Dodd Frank regulations were in particular demand.
Accounting and finance roles increased 3% on the quarter and 22% year-on-year, as the ‘big four’ accountancy firms take in large numbers of graduates, and the shortage of newly-qualified accountants and solicitors is evident.
Campbell concluded: “With the rapid growth in job advertisements, increased candidate confidence and supportive macroeconomic factors, we expect continued recruitment growth in 2015. Particularly encouraging, was the dramatic year-on-year growth of job adverts outside of Dublin in areas such as Cork, Galway, Kilkenny, and Limerick, showing the recovery has begun to extend beyond the capital. We expect to see continued positive momentum across the Irish jobs market in 2015.”