Executives say career prospects better now

THE IRISH labour market may be contracting but a surprising number of senior Irish executives are optimistic about their career prospects, according to a study by recruitment consultants, Merc Partners.

More than 70 per cent of executives believe their career prospects in the past year have either improved (44 per cent) or stayed the same (27 per cent), with those in the technology and professional services sectors most optimistic.

More than 400 executives at managing director, company director or head of function level were interviewed for the survey conducted by Amarach Research on behalf of Merc in October.

The respondents included chief executives of plcs, and organisations in the public and private sectors.

The survey also found that the majority of respondents were open to switching roles, with 72 per cent prepared to move to another company.

Kieran Duff, partner with Merc Partners, said the research showed an appetite for change and risk among most senior employees.

“At executive level the market is buoyant. We are seeing the highest level of activity in two to three years.”

However, he said that there was “less movement for movement’s sake”, with senior executives more discerning when making careers moves.

While some senior executive positions are filled through recruitment advertising, headhunting still accounts for most senior appointments.

The survey also found that one third of senior managers believe the loss of, and lack of, skills available in Ireland is hampering progress in their organisation, particularly in terms of international business skills, people management and IT. More than half of senior executives who work for multinational organisations with headquarters outside Ireland believe they have sufficient levels of autonomy and decision-making authority.

Some 80 per cent do not anticipate any diminution in their management sovereignty over the next three years, despite the difficulties in the Irish economy.

The survey found that, while there was an expectation that some business functions would be relocated outside Ireland in the next three years, this would be offset by investment into Ireland in other areas.