Since the Brexit vote, we have noticed a 19% increase in applications from the UK, with the technology market representing 37% of applications and financial services a whopping 44%. Talent moves at a quicker pace than companies, due to scale, but many companies are beginning to signal their intention to move to Dublin.
Ireland and Dublin not only hold the accolade of being the most business-friendly country in the EU but Dublin will be the only English-speaking capital based in the EU post-Brexit.
The biggest stain on Dublin’s CV at present is the cost and availability of housing. Despite this, according to a recent EY report, Dublin has been mentioned by most financial services firms considering on overseas move out of London.
Happiness and Productivity
Despite concerns over housing availability and supply, Indeed’s Global happiness index found that Dublin has the happiest workforce in the EU. As everyone knows, a happy worker is a productive worker. The main contributors to job satisfaction are work-life balance, relationship with management and the culture of the organisation. The good news is that Dublin excels in all these when compared to our European counterparts.
The 2016 census found that Dublin has by far the most professional and technical workers in the country. Out of a population of 1.34m people a phenomenal 141,708 people classify their occupation as professional. As most opportunities post Brexit will be in financial services, this is an important consideration for firms considering moving out of London.
The movement of Global Talent
Firms need to follow the movement of global talent and Ireland, predominantly Dublin, is ranked 12th globally in attracting top talent (course: UN and Global Competitiveness Index). This is a result of receiving high rankings in regards our regulatory environment, access to high quality education, the ability to attract specific skillsets and the general quality of life. The only other EU countries to rank higher than Ireland are Sweden, Luxembourg, Denmark, the Netherlands and Norway. However, Dublin is the only English-speaking capital amongst all these competitors, which is a very important factor for companies considering a move out of London in preparation for Brexit.