Like many Industries, the global recruitment industry, has witnessed a mix of fortunes over the last decade. The Global economic crisis led to a general decline in demand for recruitment services.
In Ireland, agencies such as; Morgan McKinley are under increasing pressure to perform well in order to keep up with customer demands. The bargaining power of clients has risen significantly. They will not and should not settle for anything less than the highest calibre candidate.
In response, agencies reacted by offering improved service. Such an improved service may include e.g; higher ratio of candidate hires/candidate submittals and a more consultative approach to recruitment.
Especially in light of poor economic conditions, clients may now place additional emphasis on making the right hiring decisions. The recruitment process is becoming more focused, with agencies now adding value through; sourcing, vetting and interviewing.
Against this economic backdrop and despite wide spread recruitment freezes and significant job shedding, Morgan McKinley still achieves exceptional growth rates. They (we :)) are rising to the challenge, by providing clients with a high-quality service based on strong, deep and trusted relationships. This is proof that the company is a highly entrepreneurial one, with strong growth instincts even in the harshest of markets.
The Recruitment Industry is especially competitive. This said, it appears that post-celtic tiger, the number of recruitment agencies in Ireland has decreased significantly. According to the National Recruitment Federation (NRF), in 2008 there were approximately 650, where as in 2011 there exists 340 registered recruitment businesses here.
There are many likely reasons for this. The most obvious is that of companies hiring procedures; a general decline in new jobs. As vacancies fell, the pressure on agencies increased as they competed for the same jobs. Additional pressure was exerted on fees also.
The result was the gradual weeding out of recruitment agencies. It appears that of those whom fell by the wayside where the more opportunistic high-volume agencies.
I believe the fact that Morgan McKinley (IT Division) is segmented into multiple verticles, allows them (us) to operate as a sector specialist. This plays a major part in its continued growth. Furthermore, it is a specialist in a very attractive area; IT / Computers.
IT, of course, has the added benefit of being one of the few areas where there is job creation in this country. Ireland, for instance, has prospered in ICT markets. A simple indication of this can be seen in the Foreign Direct Investment by companies such as Paypal, Ebay, Google, Facebook, Zynga and LinkedIn. This sector alone employs over 70,000 people in Ireland.
Furthermore, according to Enterprise Ireland, the Irish software sector is rapidly expanding, growing by almost 10% in the last year alone. They say; to sustain this growth and meet demand, more than 600 companies in Ireland are currently hiring. This is mirrored in business activity in Ireland. In the first half of this year, Morgan McKinley successfully placed over 250 IT professionals in jobs across Ireland. Silicon Republic reported a 172% increase in IT Jobs, in Ireland, over the last 12 months.
The fact that Morgan McKinley (IT Division) is segmented into multiple verticals, allows them (us) to operate as a sector specialist. I believe this plays a major part in its continued growth. Furthermore, it is a specialist in a very attractive area; IT / Computers.
However, despite Irelands success at growing a knowledge and skills based economy there still exists many difficulties in hiring skilled workers in certain niche IT / Computer divisions.
The direct result of the lack of specialised technological expertise amongst our workforce was noted in last weeks Newspapers. A County Monaghan based technology company which develops software for Microsoft was unable to fill fifty new positions because of the lack of relevant skill sets amongst applicants. As a result these jobs are going to be outsourced. Although in a period of high unemployment and economic demise; Ireland don’t have an abundance of the “right people” to fill these much needed vacancies.
There exists a large number of professionals whom remain out of work, adding to the pool of candidates for available positions, yet this doesn’t necessarily make the recruitment process any easier. Even where the market is flooded with candidates, a company and even a Morgan McKinley Consultant may struggle to present a panel of excellent candidates. In reality, many of the people that most clients want to hire are still in employment and it is harder now than previously to tempt them away from their current positions, especially for non-permanent positions.
Sector specialists like Morgan McKinley’s IT Division hold a distinct advantage over their multi-sector counterparts. I feel it is the very traits of Morgan McKinley, their deep client relationships and specialist knowledge, that have contributed to high levels of service, that in turn have driven growth.
I believe that the more a particular agency know of a market, the more they are able to add value to that market. This would go hand-in-hand with a search methodology that includes short listing, candidate profiling, and in-depth market research, performed by excellent staff.
By specialising in the .Net market, whilst remaining particularly knowledgeable across all IT sectors, I will excel in finding the right candidate for the right client, and vica versa.
If you are a company interested in hiring .NET specialist, or an individual open to exciting opportunities feel free to contact Dara @ email@example.com or +353 (0) 1 4321 555