Survey reveals 87% of firms committed to hiring in coming year

Business, Economy | Mon 19 Oct | Author – Business & Finance
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Irish business leaders are optimistic about what the future holds, results of a new survey undertaken by Enterprise Ireland and Deloitte have found.

Three quarters of those who took part in the survey were CEOs of SME businesses. Business leaders were asked their view on the future of Ireland’s economy and their overall business sentiment towards jobs and growth.

Julie Sinnamon, CEO, Enterprise Ireland, commented: “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.”

12 months ago Irish CEOs cited access to working capital as the primary restriction to greater exports, with 35% indicating that this was the primary challenge facing their business.

The availability of skills has surpassed access to capital as the number one concern according to 31% of respondents. Competitiveness and growing competition are now also seen as key challenges.

Brendan Jennings, managing partner, Deloitte, noted: “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 –two-thirds of the business leaders questioned believe that their business will grow even faster than the Irish economy in the next 12 months. A staggering 93% of companies intend to expand their businesses over the next year, which will almost certainly translate into jobs as 87% are also planning on increasing their workforce. All of which bodes well for the economy.”