Here at Abrivia we released our tech salary survey in January, which reviewed the previous 12 months and looked forward then to 2020. Ireland’s labour market last year, proved it was agile, resilient in face of serious challenges, whilst remaining a prominent place to invest in the midst of global economic uneasiness. Some issues still plagued the country and continue to do so. Lack of affordable accommodation in Dublin, Cork and Galway in particular has seen an increase in companies offering sign on bonuses to attract international candidates. Alike last year, clients based in Dublin are seeing external factors such as rental market inflation inhibiting their ability to attract talent and thus there has been continual upward pressure on salaries in order to attract the best people.
Other key points from the tech salary survey included high demand skillsets; cyber security and data science related roles. Coupled with this, the benefits package was theming again within the tech sector as a priority when candidates looked to change jobs. Aside from working in great role in a collaborate organsation. The benefits package still holds the utmost importance. Healthcare, remote working, pensions, gyms are just some of the popular perks being used to attract the best candidates. Flexible ways of working are top of the agenda for both candidates and employers and are very important in an ever changing and diverse workforce. This is especially true for candidates with young families and or for those in commuter towns.
Moving forward to this year, we then looked at how 2020 was shaping up to be another productive year on the job and economic fronts. Ireland needs to remain competitive, keep somewhat of a cap on salaries, and offer some flexibility. We have every reason to believe Ireland can stay ahead of the curve and outperform other countries throughout the year ahead. I am forecasting we will see activity centred around firms that have newly set up Dublin look to add substance and headcount to their operations. The war for talent will continue with some skillsets experiencing big shortages – scala developers and cyber security professionals. High growth industries will include fintech, online transaction processing, and big data. The use of contingency staff will continue as reactive and Brexit-related projects crop-up. I also feel HR spend on retention tactics and employer branding will grow.
Salary will continue on the same trajectory as in 2019 – with increases seen across the board. As Ireland increasingly becomes a more attractive market for companies to establish operations here, given Irelands relationship with Europe, agile talent pool, and somewhat stable political environment. I feel we will see a market dictated by candidates.
However, 2020 also presents another set of challenges in the shape of getting Brexit done, global economic policies, underperforming financial markets, and now the corona virus. Uncertainties aside, both local and international organsations here in Ireland continue to perform well and will require talent to sustain growth across many sectors. AI, the candidate experience, and employer branding is central to attracting and retaining top talent.
To download a copy of the Abrivia’s Salary Survey 2020 please click on the link below >>>