The latest quarterly Labour Force Survey from 2023 portrays a thriving economy, demonstrating a 74% employment rate for individuals between 15 to 64 years. Over the course of twelve months until Q4 2023, the count of employed persons over 15 years swelled by 89,600, marking a 3.4% increase, which raises the total to 2,706,400 individuals. An increase of 0.4% in total weekly hours laboured than the preceding year was also observed, fortifying the economy with an additional 0.3 million hours, bringing the total to 82.5 million.
The prosperity of the economy is further substantiated by the steady vertical rise in corporation tax contributions, specifically from multinational companies. Despite a brief deceleration in August and September, this ascent prevailed into Q1 2024. The workforce index also suggests growth, reporting a year-on-year increase of 3.4% in December 2023, with a 4% surge in the female index and a 2.9% elevation in the male index.
In the context of a more competitive job landscape, one needs to contemplate what makes them unique. Pursuing further education could amplify one’s potential and marketability, making entering or transitioning within the labour market more plausible. Enrolling in a postgraduate programme is one prominent step towards this.
Investment in level 9 or 10 postgraduate qualifications requires considerable time and financial commitment. Nonetheless, the resulting enhancement in one’s skill set can augment their CV and propel their employability. We are witnessing a convergence between information and communications technology (ICT), business, and engineering fields, no longer considered discrete areas of study. An understanding of ICT and refined business abilities are vital skills across multiple sectors.
Notably, accounting firms seek more than just accountants; they employ individuals from a wide span of fields including marketing, IT, engineering, and also value arts and journalism graduates for their communicative and social media skills as they enhance their online engagement. Employability today, is anchored in possessing diverse data skills.
Data analysis is currently the most rapidly expanding skill in demand, a trend expected to persist into the future. The fusion of data and marketing expertise is growing in desirability. In light of the prevalent remote work set-up on a combo of personally- and company-owned tools, the need for focused cybersecurity measures within organisations is on the rise.
The escalation in IT security threats, evidenced by the 2021 cyberattack on the HSE and the 2022 attack on Munster Technological University, coupled with the enduring shift to work from home arrangements, heighten the need for robust data protection, and as a result, IT security roles are in demand. Additionally, continuous investment in web-based facilities contributes to the shortage of software developers adept with Java, NET, Python, Ruby on Rails, and Scala to name a few.
The overlap of finance and technology has experienced a colossal transformation, reshaping the financial service industry’s outlook. A plethora of Irish start-ups in this field lay the groundwork for considerable growth in future. This anticipates a rise in opportunities for multifaceted professionals, graduates equipped with competencies across financial services and technology, especially as the finance-technology industry experiences more governmental, educational and industrial collaborations.
Employers also actively seek cross-sectoral employability abilities, such as people handling, critical or analytical reasoning, management, creativity, design and innovation, entrepreneurship, teamwork, communication, business insight, information & communications technology, and language proficiency. Cultural awareness, a skill often gained through learning foreign languages, is regarded as crucial in a post-Brexit marketplace.
The most sought-after languages at present include German, French, Spanish, Italian, Portuguese, and the Nordic languages. Mandarin is gaining popularity as Ireland quickly broadens its trade with China. With the recognition of Irish as an official working language of the EU from January 2022, proficiency in Gaeilge presents growing opportunities for graduates.
The government aims to bridge the gap between employer-required skills and the ones possessed by soon-to-be graduates through the Springboard+ initiative. Both undergraduates and postgraduates are the focus of this programme.
Springboard is a strategic initiative that focuses on supplying funding for complimentary higher education lessons, with the aim of aiding job-seekers in expanding their existing skills or acquiring new ones in sectors with notable labour force skill gaps or job prospects. Springboard lessons cover a wide range of subjects, from levels 6 to 9 as per the National Framework of Qualifications, such as ICT, manufacturing, international finance services, hospitality, and entrepreneurial skills.
The programme also includes a work placement in almost all courses, providing hands-on experience. A key feature of the Springboard initiative is the ICT skills conversion programme, specifically for job-seekers possessing a level 8 qualification or equivalent. This programme offers an intensive course of studies and work placement, allowing participants to gain ICT programming skills equivalent to an honours degree level.
With Springboard and the ICT skills conversion programme, over 9,266 spots across more than 300 courses are available at public and private educational institutions across Ireland, under the Springboard+ brand. All courses selected for Springboard funding are closely linked to identified enterprise skill necessities.
Springboard+ information including entry requirements and qualification criteria can be found at springboardcourses.ie. Applications are made online, and the decisions regarding admission are made by individual course providers.
Every year, numerous companies across different sectors hire graduates and postgraduates through graduate training programmes. These programmes provide a bridge for new entries into the professional world by equipping them with necessary skills. They often last up to two years and offer a variety of opportunities within the company, allowing new graduates to gain necessary work experience and earn a living. The gradireland.com website hosts a list of graduate recruitment positions offered by some of Ireland’s top companies.
Companies like Kerry Group, Future Force, Google, Analog Devices, Aviva, IBM, SIG, and AppDynamics have been on the lookout for postgraduates to undertake training roles in various sectors such as supply-chain management, R&D, business development, cloud technology, and multiple engineering fields like network, software and construction, as well as financial reporting among others. You can find up-to-the-minute and reliable information regarding graduate opportunities on the Careers Portal website at careersportal.ie.