However concerned Irish Finance Professionals are at present,
the show must go on!
A recent survey from Robert Half International carried out at the end of 2008 found that Irish finance professionals are the most concerned about the current economic crisis. Of the fourteen countries in which finance and accounting professionals were surveyed Ireland’s results were the highest with 93% very or rather concerned about the health of the global economy and 94% concerned about the national economy.
When asked what was the greatest concern to their company 91% of respondents said it was the impact of the global credit crisis on the local economy. Despite this concern, however, Irish respondents from all those surveyed did not feel that morale in the workplace would be affected. Also unlike all other countries no respondents in Ireland were concerned about the imminent departure of the baby boomer generation, which had previously been more of an issue.
When asked about their career plans, over half of the respondents in Ireland see themselves staying in their current role with 33% planning on promotion in the next 12 months. However, there is still that natural trend of people moving positions which makes for a more competitive recruitment market. Also due to the economic uncertainty, companies are ensuring they maintain their current staff and therefore their recruitment needs are becoming more specific, with many turning to interim cover to work on specific projects.
Ken Harbourne, Country Manager at Robert Half International commented; “the survey found that 1 in 4 Irish Finance professionals are still actively looking for a new role or thinking of a move. So, the competition has just got a hell of a lot tougher for positions, candidates can expect to be up against some fantastic people when interviewing.
There is no doubt that business has got a lot tougher, however, despite the doom and gloom there are still plenty of opportunities out there for specialised skills sets, particularly for qualified interim staff and sharp accountants. “In relation to the economy, Generation Y (18-33 year olds) have just got the surprise of their life but Generation X have seen it before and know how to play the game ie work hard, be a pro-active team player and appreciate your job”
The Robert Half International Financial Directions Survey was fielded on line in Oct-Nov 2008 across 14 countries in Europe, Asia/Pacific, South America & Middle East. There were a total of 3,556 respondents with 100 respondents in Ireland and 2,047 in Europe. Respondents were Finance and Accounting Professionals. This survey was carried out by an independent research firm (double blind survey).
