Brexit is a word that many of us in Europe are sick of hearing and with good reason. A lot of the news surrounding the UK’s exit from the European Union is of the doom and gloom variety. Loss of jobs, UK-based EU nationals unsure of their status post-Brexit, and the effect on the jobs market in the union as a whole.
Understandably, people are worried.
However, for companies and professionals based in Ireland, there’s a significant silver lining to Brexit — The Ireland jobs market looks set to boom.
This means that for professionals looking to relocate to these shores, the long-term outlook is pretty good.
Companies see Ireland as the perfect base
As the only remaining English-speaking country in the European Union, Ireland has a significant advantage over its European counterparts.
For companies with their European headquarters based in the UK, it makes perfect sense to relocate to another English-speaking country. Departments and the employees working within them can easily migrate while the culture is quite similar.
In fact, as far back as 2017, over 100,000 UK firms had registered their businesses here in Ireland in preparation for Brexit. While a large percentage of those firms will have established their presence in Ireland as a means to access the common market, there are other factors which also come into play.
For a start, Ireland has an extremely competitive corporate tax rate currently set at 12.5% which is considerably lower than the rates in both the UK and the majority of EU member states.
Ireland’s government is also seen as very pro-business with many of its policies offering significant benefits to both established and start-up enterprises. The country also boasts a solid judicial system and some of the strongest intellectual property protection laws in Europe.
But perhaps one of the most attractive benefits to having an Irish base of operations is, of course, access to European-based talent. This along with the reasons listed above also makes the country an attractive option for international companies looking to establish a base in Europe (more on that later).
And, as you may have guessed, that’s extremely good news for professionals seeking a new challenge in Ireland.
So what does this mean for job seekers?
The demand for talent has never been greater. Recent studies predict that the coming year will see Ireland experience the greatest talent shortage in a decade. For employers, this is a hugely worrying trend, but for professionals, it simply means more opportunities.
There are also clear indications that the ongoing Brexit saga has boosted foreign direct investments (FDI) in Ireland. According to a report by EY, FDI increased by 52% in 2018 and that upwards trend continued through 2019.
This increase in FDI along with the migration of departments from the UK to Ireland has seen the job market become extremely competitive.
While this makes the job of the recruiter all the more difficult, it also means that companies are starting to realise the benefit of expanding their talent search to include candidates from outside the country. This is particularly true with regards to highly-skilled roles such as those in the IT sector with many employers fully embracing the concept of the global talent search.
To put it simply, there has never been a better time for non-Irish professionals to apply for roles in the likes of Dublin, Cork, and many other locations throughout Ireland.
But it’s not just employers’ willingness to hire talent from outside the country that makes Ireland such an attractive option right now. It’s what’s on the table too.
With the talent shortage already in evidence in certain industries, employers have upped their game by offering more competitive packages and significant benefits for the right candidate. Interestingly, in some cases, these benefits include the ability to work remotely spending only a small portion of the working week in the office.
To some, this may not seem like a major development, but we feel that it’s a hugely significant one as it clearly indicates a willingness on the employer’s part to prioritise the acquisition of the right talent. Although the search for talent is a tough one, employers still remain dedicated to finding the best talent that’s on the market and will do all they can to land that talent.
Of course, this doesn’t mean that a candidate can name their price, but it does mean that employers are increasingly taking a candidate-first approach in their search for talent. For the job seeker, this makes it much easier to determine if the company is a good fit. After all, if you enjoy your candidate experience, the chances are you’ll enjoy working for the company.
So as you can see, while the word Brexit may be a little tiresome at this point, for highly-skilled professionals on the jobs market it means more opportunities in Ireland. Or to put it another way, it makes Ireland the perfect destination in a post-Brexit Europe.
Are you a highly-skilled professional looking for a fresh challenge in the IT and semi-conductor industries? Then we might be able to put you in touch with the right company here in Ireland. Get in touch today and let’s talk about how we can help you take the next step in your career.