CareerWise See Job Vacancies Grow by 34% in 2015
Year to date CareerWise Recruitment have seen job vacancies grow by 34%. Confidence in the Irish market is still very strong. Salaries are increasing and income tax is decreasing (October Budget 2015) for the people working in the Irish economy.
These salary increases are supported by the recent IBEC Employer Survey in October which reported; 71% of companies in Ireland to award pay rise next year.
A major contributor to this growth is the continued success of the Foreign Direct Investment companies and the Irish indigenous companies. All signs show that this growth pattern will continue into 2016 and beyond.
The spread of these vacancies are mainly within Quality, Manufacturing, Chemical, Process, NPI, Automation and Validation. This job growth is impressive, demand is high and is creating a candidate driven market. However, on a negative point the consistent demand for graduates with GMP experience has created a shortage of personnel.
So where are we seeing these shortages?
- Engineering (Mechanical / Manufacturing / Electrical / Automation / Chemical / Project Management)
- Scientists (Process Development / R&D / Microbiology / Chemistry)
- Supply Chain (Planner / Buyers / Logistics / Supply Chain)
- Finance (Cost Accountants / Management Accountants / Financial Accounts)
- IT (IT positions can account for 31% of positions available in Ireland, reported Irish Jobs 2014)
- HR / Training
The recent IBEC Employer Survey aslo highlights that:
- 67% of companies will increase basic pay this year, 2015, a figure revised upwards from 57% at the start of the year
- The median pay increase for 2016 is expected to be 2%, similar to levels reported in 2014 and 2015
- The total pay bill in 2016 is expected to increase in 67% of companies, similar to this year. This is due to pay rises and new hires.
- Increases in basic pay and total pay bill is most likely in companies in the high-tech sector and in larger companies (87% of high-tech manufacturing firms plan to increase basic pay in 2016).
- Increases in basic pay and total pay bill are least likely in SMEs (58% of companies with less than 50 employees will increase basic pay in 2016).
For hiring companies it has become a competitive market place where companies are competing for talent. The challenge now for companies is to be cost effective within the recruitment process. They need to be creative in hiring, efficient and provide a suitable total benefits package which is not just based on salary alone.
What can be done?
- Identification of talent quickly.
- Communicate with candidates.
- Act on talent when presented.
- Efficient recruitment process with the decision makers involved early within the process.
- When companies meet candidates; it is an opportunity to sell the company that is hiring. Always remember interviews work both ways.
- Communicate, Communicate and Communicate (no excuses).