What's in store for Ireland’s hiring market in 2023?

Matthew Fitzpatrick our consultant managing the role

We’ve been talking about the chronic talent shortage in the finance and technology market for over 18 months. However, there are signs that this labour scarcity is now easing. Data from Irish Jobs suggests, that after some extremely tight quarters brought about by the fallout from the pandemic, that the number of vacancies is down by 10%, compared to the same period last year. And compared to Q2 2022, live vacancies were down 4% in the three months until the end of September.

Superficially, vacancies being down may indicate negative market sentiment, however these numbers still are an increase on pre-pandemic vacancy rates. And when you consider this in conjunction with unemployment rates being extremely low, there is a lot of reasons to be excited about the Irish hiring market as we go into 2023.

Remote opportunities are above 2019 levels 

The loosening of the talent shortage is having an impact on the availability of remote working options. The Irish Jobs report captures a 9% fall in the number of jobs offering remote work when compared with the quarter to the end of June. However, when you consider that in July 2022 one in five job adverts were for remote opportunities, the number of remote roles is still around 20% higher when compared to the same period last year.     

This is particularly good news for workers in Ireland as it opens them up to opportunities they would not otherwise consider. Moreover, at Marks Sattin we are seeing an increased appetite for roles which offer a mix between remote and on-site. After two years at home, many people are missing the office culture and the opportunities which come with being around colleagues.

Although, if you are still keen on taking on a remote role, there are many available. We’re also finding the quality of remote roles are improving. The businesses who still offer completely remote opportunities are doing so in an authentic and well thought out way, many of the people we work with in these positions are reporting a great work/life balance and positive company culture.   

The technology SME recruitment market is buoyant   

The technology sector is one of Ireland’s top performing sectors but as we go into 2023, it has a drastically diminished outlook. The combination of record inflation and high interest rates has knocked the confidence out of swathes of businesses for the fourth quarter. In the immediate aftermath of the pandemic, hiring confidence was at an all-time high, and many tech companies over-hired, but now businesses are reducing their workforce, with redundancies in the IT sector becoming more prominent. Although, hiring growth is still in double digits, driven largely by small and medium sized firms outside the big-tech space.

Robust performance from multinationals to continue   

The technology slow down aside, growth in the banking and finance market stays strong. According to Deputy Prime Minister Leo Varadkar, Ireland has a strong pipeline of investments from foreign-owned multinationals and there will be many positive announcements in the coming months. Ireland is hugely reliant on multinationals that employ over 275,000 people, or one in nine workers, and pay a large chunk of the country's income and corporate taxes.  

The Irish Central Bank sees modified domestic demand (MDD), its preferred economic growth measure, expanding by 2.3% next year and also evised up its forecast for this year to 6.4% due to a large, likely one-off increase in investment in the first half. This is reassuring news for employees in the country, especially in the face of layoffs at Twitter, Meta and Stripe.  

Banking and finance are Dublin’s strongest sectors 

In terms of banking and financial services, the picture is less clear. We’re expecting traditional institutions and professional services firms will endure but start-ups and challenger brands will have a harder time. Private equity firms and venture capitalists are putting increasing pressure on challenger businesses, which include FinTech's and cryptocurrency platforms, to prove profitability. This will prove incredibly challenging for many but particularly those in the consumer credit space. The Economist Intelligence Unit (EIU) is predicting consumers will favour traditional financial services intuitions instead.

Whilst it is without doubt that the post-pandemic froth in the market is long gone, most financial services firms will endure the next twelve months. These institutions will greatly benefit from increased savings from the aging population due to higher interest rates, investment in decarbonisation projects and infrastructure improvements.

How can Marks Sattin in Dublin help?      

Whether you are a technology professional who is uncertain about their future at their current company, or you are a finance professional who is looking for a new challenge, we have something on offer. We have a wide variety of opportunities available to people at all stages of their careers, which you can view here.

Alternatively, if you are a business looking to grow your team and take advantage of our market-leading insights, please submit a brief and a member of our team will be in touch with you.     

14/12/22
posts

Related articles

London SMES are increasingly reliant on temporary workers
London SMES are increasingly reliant on temporary workers

Teaser

General

Content Type

General

06/06/24

Summary

According to research from Sonovate London SMES have become increasingly reliant on temporary workers. New research has revealed that there has been an increase in reliance from small and medi

Teaser

Are London SMEs increasingly reliant on temporary workers?

Read full article
Jamie Smith

by

Jamie Smith

Jamie Smith

by

Jamie Smith

Making the Most of Your First ACA Qualified Role in Industry
Making the Most of Your First ACA Qualified Role in Industry

Teaser

Commerce & Industry

Content Type

General

05/06/24

Summary

Transitioning from an accountancy practice into your first role in industry is a significant milestone in your professional journey. As a newly qualified accountant, you possess a robust fou

Teaser

Looking to make your first move into industry? We can help!

Read full article
Hannah Spears

by

Hannah Spears

Hannah Spears

by

Hannah Spears

The state of accounting and finance recruitment in 2024
The state of accounting and finance recruitment in 2024

Teaser

Finance & Accounting

Content Type

General

05/06/24

Summary

The landscape of accounting and finance recruitment has undergone significant changes over the past few years.  The demand for skilled finance professionals in London is steadily rising, reflecti

Teaser

As we move through 2024, understanding trends is crucial for both employers and job seekers navigating this dynamic field.

Read full article
Craig Kilminster

by

Craig Kilminster

Craig Kilminster

by

Craig Kilminster

jobs

Related jobs

Azure Cloud Infrastructure Engineer

Salary:

£50,000 - £60,000 per annum + +bonus/benefits

Location:

Bath, Somerset

Industry

Technology

Qualification

None specified

Market

Commerce & Industry

Salary

£60,000 - £70,000

Job Discipline

Business Intelligence & Analytics

Contract Type:

Permanent

Description

Senior Infrastructure Engineer - Bath based

Reference

BBBH180744

Expiry Date

01/01/01

Amine  Zekri

Author

Amine Zekri
Amine  Zekri

Author

Amine Zekri
Find out more
Scala Developer

Salary:

£450 - £490 per day + Umbrella Company

Location:

Newcastle upon Tyne, Tyne and Wear

Industry

Technology

Qualification

None specified

Market

Commerce & Industry

Salary

£350 - £450

Job Discipline

Software Development

Contract Type:

Contract

Description

Scala Developer role for a Government organisation.

Reference

BBBH180784

Expiry Date

01/01/01

Alex Dando

Author

Alex Dando
Alex Dando

Author

Alex Dando
Find out more
Interim Finance Manager (6 months)

Salary:

£250 - £275 per day

Location:

Nottingham, Nottinghamshire

Industry

Manufacturing

Qualification

Finalist / Newly qualified

Market

Commerce & Industry

Salary

£250 - £350

Job Discipline

Qualified Finance

Part Qualified & Transactional Finance

Newly Qualified Finance

Contract Type:

Contract

Description

Marks Sattin is partnering with a reputable manufacturing organisation in Nottingham to recruit an Interim Finance Manager on a 6 month contract.

Reference

BBBH180698

Expiry Date

01/01/01

Anthony Mills

Author

Anthony Mills
Find out more
Accounts Payable Assistant

Salary:

£22,000 - £24,000 per annum

Location:

Blackpool, Lancashire

Industry

Business Services

Qualification

None specified

Market

Commerce & Industry

Salary

£0 - £25,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Accounts Payable Assistant

Reference

BBBH180786

Expiry Date

01/01/01

Glenn Fyfe

Author

Glenn Fyfe
Glenn Fyfe

Author

Glenn Fyfe
Find out more
Payroll Supervisor

Salary:

Up to £30,000 per annum

Location:

Salford, Greater Manchester

Industry

Media & Communications

Qualification

None specified

Market

Commerce & Industry

Salary

£30,000 - £35,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Contract

Description

Payroll Supervisor | Salford | Hybrid | 12 month FTC | £30,000+

Reference

BBBH180785

Expiry Date

01/01/01

Evie Coates

Author

Evie Coates
Evie Coates

Author

Evie Coates
Find out more
Senior Business Adviser - Business Services & Outsourcing

Salary:

£40,000 - £43,000 per annum

Location:

Leeds, West Yorkshire

Industry

Professional Services

Qualification

Fully qualified

Market

Professional Services

Salary

£40,000 - £50,000

Job Discipline

Newly Qualified Finance

Contract Type:

Permanent

Description

A global firm of Chartered Accountants are looking for to welcome a Business Advisor to their incredibly successful team.

Reference

BBBH180469

Expiry Date

01/01/01

Emma  Gentry

Author

Emma Gentry
Emma  Gentry

Author

Emma Gentry
Find out more
Senior Finance Manager

Salary:

£60,000 - £65,000 per annum

Location:

Lancashire

Industry

Consumer & Retail

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£60,000 - £70,000

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

Senior Finance Manager | 9 month FTC | Up to £65k | Lancashire

Reference

BBBH180783

Expiry Date

01/01/01

Jamie Miller

Author

Jamie Miller
Find out more
Finance Manager

Salary:

Negotiable

Location:

Greater Manchester

Industry

Consumer & Retail

Qualification

Fully qualified

Market

Commerce & Industry

Salary

£70,000 - £80,000

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

Finance Manager | 12 month FTC | Greater Manchester

Reference

BBBH180782

Expiry Date

01/01/01

Jamie Miller

Author

Jamie Miller
Find out more
Interim Finance Manager

Salary:

£47,000 - £52,000 per annum

Location:

Sheffield, South Yorkshire

Industry

Business Services

Qualification

Fully qualified

Market

Professional Services

Salary

£50,000 - £60,000

Job Discipline

Qualified Finance

Contract Type:

Contract

Description

I have an exciting opportunity to join a growing business based in Sheffield as they continue to expand

Reference

NH - 180762

Expiry Date

01/01/01

Niamh Hellewell Find out more
JUNIOR FINANCIAL CONTROLLER

Salary:

€45,000 - €55,000 per annum

Location:

Amsterdam, North Holland

Industry

Professional Services

Qualification

Part qualified

Market

Commerce & Industry

Salary

£40,000 - £50,000

Job Discipline

Part Qualified & Transactional Finance

Contract Type:

Permanent

Description

Momenteel zijn wij voor een multinational binnen de HR-dienstverlening op zoek naar een Jr. Financial Controller. Het is een snelgroeiend bedrijf met verschillende brands binnen de arbeidsbemiddeling

Reference

BBBH180775

Expiry Date

01/01/01

Guido Buwalda

Author

Guido Buwalda
Find out more
View all jobs