Overall Salary levels hold up in the face of challenging market conditions according to Premier Group
Irish salary levels have held up well despite challenging market conditions during 2008 according to Premier Group’s 2009 Salary Guide, released today. “Market conditions have challenged every business in 2008 but we have seen salary levels holding up well in spite of this,” commented Brian Murphy, Managing Director Ireland, Premier Group. It’s well documented that the construction, and finance industries have experienced considerable challenges in 2008. However there are also a number of industries that are displaying strong resilience; the pharmaceutical, medical device, technology and food sectors, in particular, are holding steady. Another feature of 2008 was a swing in demand for recruitment services towards the multinational sector. Mr Murphy added, “Much of the heat has been taken out of salary demands, and many candidates are taking a more reasoned approach towards their career moves. Candidates now need to adopt an innovative approach to their career management and increase their flexibility as well as gain relevant qualifications coupled with solid experience.” Premier Group’s Irish operations have had a successful year despite many changes in the Irish Economy. Murphy also pointed to new challenges facing the recruitment sector. “With the tightening of the economy, candidates are becoming understandably more cautious about changing jobs and this makes the task of matching the perfect candidate with the perfect role probably more difficult than ever,” he said. “But this is a challenge that excites us as we look forward to 2009. We will continue to invest heavily in our people, our technology, our marketing and our overall service offering, so as to guarantee success for clients and candidates.
Commerce and Industry
The Commerce & Industry market has seen a gentle move away from the indigenous sector, with the slack being taken up by multinational organisations. Not surprisingly, the changed economic situation has seen a corresponding increase in the demand for strong and experienced credit controllers. Industry sectors that are recruiting ahead of the average include pharmaceuticals, medical devices, waste management, renewable energy, distribution and the food sectors.
Financial Services
While 2008 has been a year of extreme turmoil for the Financial Services sector there has, not altogether surprisingly, been a steady demand for experienced professionals across compliance, risk and regulation. This feature of the market has also been reflected in the upturn of the numbers of contract vacancies. Interestingly, the funds administration sector has remained relatively steady in spite of challenging market conditions in 2008. The main trend for 2009 will be for those with specialist skills and product knowledge particularly at the mid to senior level. Graduates are encouraged to offer a flexible approach in this market place in order to begin their careers as demand for staff without experience is very limited. Actuaries are still a highly sought after commodity and qualified actuaries can still expect to command higher than average market salaries. Temps and Interim Management The temporary, contract and interim staff markets remain solid, reflecting a continued demand for immediately available candidates and ongoing requirements for temporary staff across almost all sectors. Qualified and newly qualified accountants within the pharmaceutical, manufacturing and energy industries are in strong demand, as are candidates with IFRS, GAAP and compliance experience. Tax and Practice There is a continuous demand for both qualified and part-qualified accountants in Practice across Dublin. Also in light of changing market conditions Premier is also witnessing a bigger demand for experienced accountants with insolvency and forensics experience. Demand growth for experienced accountants and tax staff is expected to continue in 2009.
Legal
Opportunity levels within the Legal sector in the specialist areas of Corporate Finance, Funds, Pensions and Litigation remained positive for experienced legal professionals. However, the change in market conditions has resulted in a severe slowdown within Conveyancing. Newly qualified solicitors were presented with fewer job options as a consequence. For Legal Office Support staff, the property downturn also impacted negatively on demand for Conveyancing Secretaries and Executives. This, however, was offset by an increase in the area of Commercial Law and Litigation, and candidates with experience in this area were highly sought after. Premier’s temporary legal division saw steady growth in 2008, as many employers opted for a more flexible, shorter-term solution to their recruitment needs. We see this trend continuing in 2009. Office Support Temps Not surprisingly, demand for temporary office support staff has increased significantly and rates and salaries are strong as clients are willing to pay for experienced and skilled staff. Many companies have traditionally hired temporary candidates as a way of trialling staff for permanent vacancies. In the current market, organisations are looking for the flexibility that temporary hires offer in terms of working on fixed term projects or business peaks. Administrators, data entry clerks, office juniors and experienced personal assistants are still in strong demand.
Permanent Office Support Staff
Companies are becoming more cautious in recruiting but still must backfill essential roles which are continuing to become vacant. Candidates are also becoming more cautious and are interested in knowing what sort of stability and future career path can be offered. They are also more conscious of the cost of commuting to and from work and working for a local company has become more attractive. Life Sciences Demand in the life sciences sector remains buoyant. Trends illustrate an increased demand for experienced professionals, particularly in the pharmaceuticals industry. Another trend in evidence is increased demand for foreign professionals by companies in this sector. This is an area that the global office network of Brunel and Premier Group is well positioned to support. In the process and manufacturing fields generally the demand for technical professionals remained strong during 2008, with increased demand for mid to senior level professionals. Information Technology – Permanent 2008 has seen modest growth across all sectors and geographies for permanent IT staff recruitment. Clients are continuing to invest in technology to help reduce costs. Candidates with ERP and CRM Consultancy experience are still very much in demand. Developers with the latest skills in technologies such as J2EE, .NET and Ruby on Rails are in short supply. On the infrastructure side, candidates with virtualisation, security and telecoms experience are in high demand. In short, demand remains high for people with good IT skills and a proven track record and will remain so in 2009. About Premier Group Premier Group is the pioneer of specialised recruitment in Ireland. Established in 1988, the wholly Irish owned company has grown to employ 800 people in eight countries with 26 offices, nine of which are in Ireland; Dublin, Cork, Limerick, Waterford and Kilkenny. Premier Group incorporates six specialist recruitment divisions: Premier and Accreate specialising in financial recruitment, la crème specialising in office support recruitment, Brunel specialising in technical, Verkom specialising in IT recruitment and the managed services division. With the acquisition of Imprint plc in 2008, Premier Group has consolidated its position as one of the leading independent recruitment companies in the world. The company has consistently been voted among the Top Companies to work for in Ireland, and one of the Best Workplaces in Europe. | 