New data published by LinkedIn has revealed hiring in Ireland's tech sector has begun to stabilise.
LinkedIn’s data revealed that whilst hiring rates continue to lag behind pre-pandemic levels in Ireland, the rate of decline is slowing, which is a sign of stabilisation. This demonstrates that employers continue to hire, but at a more cautious rate, with employees staying in their current positions longer.
Despite challenging conditions in recent times in the Technology sector, hiring has begun to stabilise, with a +6.8 per cent year-on-year increase in the LinkedIn Hiring Rate during June, an improvement to the hiring deceleration seen throughout 2023, which at its lowest point saw a fall of -57.2 per cent year-on-year in May 2023.
Meanwhile, LinkedIn's findings revealed that Ireland ranks second in Europe for hybrid (37.7 per cent) and remote (8.4 per cent) work opportunities.
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However, the analysis showed that the demand for flexible roles continues to outstrip supply, with the availability of these positions declining year-on-year as more staff return to the office. As a result, there are high levels of competition for these roles, with remote positions in Ireland attracting 2.5 times the share of applications compared to the amount of positions available.
Competition for these roles is likely to remain high, with the availability of hybrid and remote roles continuing to decline as more employers bring their people back to the office.
The level of paid job postings in Ireland offering hybrid positions declined by -10.5 per cent year-on-year, with remote positions contracting by -7.7 per cent over the same period.
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Commenting on the trends, LinkedIn Ireland Country Manager Sue Duke said: “While hiring rates continue to lag behind the buoyant levels of what we saw pre-pandemic, we are seeing some green shoots, with some industries like the Tech sector beginning to stabilise. This is a positive sign that the turbulence that we have seen in the sector has begun to level out, with some employers back on a positive footing.
"Flexible work options continue to be highly attractive for Irish professionals, with demand for remote roles proving to be highly competitive judging by the disproportionate amount of applications they attract. Highlighting what level of flexibility is available at a company as part of the hiring process is a key tool in attracting talent in what is a very tight jobs market in Ireland."
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