According to a collaborative report by IDA Ireland, Microsoft, and LinkedIn, hiring rates in Ireland have experienced a slowdown. In March of this year, hiring rates were more than 40% lower compared to the same month in 2022, which had recorded the highest hiring rates on record.
The IDA attributed the labor market’s softening over the past year to global economic challenges and persistent inflation. Despite the decline in hiring levels from the post-pandemic highs, Ireland’s unemployment rate remains low, standing at 3.8% last month.
The report also highlighted a slight increase in the representation of women in leadership positions in Ireland. In the previous year, women were appointed to 38% of open leadership roles, reflecting a 5% increase over a six-year period.
Flexible working arrangements were emphasized as crucial for women in the workforce. The report revealed that the share of female workers applying for remote or hybrid jobs more than doubled between January 2021 and 2023.
Furthermore, the report urged companies to focus on candidates based on their skills rather than solely relying on job titles. This approach would enable a wider and more diverse pool of candidates, increasing the overall talent pool for vacancies by more than six times, as found by LinkedIn.
Ireland is also showing support for the European Union’s directive on gender balance in corporate boards, aiming for 33% representation of women among all directors in listed companies by 2026, as well as targeting 40% representation among non-executive directors.
Minister for Enterprise, Trade and Employment Simon Coveney acknowledged the progress made but emphasized the need for continued efforts to achieve gender parity in leadership positions. IDA’s Chief Executive, Michael Lohan, expressed support for the skills-based hiring approach advocated by the agency. LinkedIn’s Senior Director of Public Policy, Kate O’Sullivan, highlighted that women were more likely to apply for jobs when their skills were aligned with the requirements, reinforcing the significance of this approach.
