🦜 PerchPulse - The Ireland Market Update May 2023 🦜

A warm welcome to the May issue of PerchPeek’s Ireland Market Monthly update!

Here’s where you’ll find the hottest updates around employee relocation and international talent strategy, insights from our experts on housing and cost-of-living news affecting your staff, the latest trends in global mobility, and tips and tricks on ways to support your teams.

A fly-by summary

●     Over 4,300 eviction notices were served to tenants in Q4 2022, and the number of available rental properties has fallen by 80,000 in the last decade

●     Despite mass tech layoffs affecting 2,300 workers in Dublin in Q1 2023, 94% of employers say they’re struggling to recruit IT staff according to new research

●     Many Irish workers are at risk of falling behind due to skills shortages, and promotes upskilling the workforce in the ‘Year of Skills’ initiative, new OECD report warns

●     Getting connected: how to help your relocating employees get set up with fast and reliable broadband, and take advantage of the best deals out there

Home-finding: Increasing numbers of eviction notices being served, putting more pressure on rental market

PerchPeek puts the spotlight on two big stories affecting renters in Ireland; read on for our insights and tips on how to support relocating employees impacted by these issues.

1 - Over 4,300 eviction notices were served to tenants in Q4 2022

In the last quarter of 2022, landlords issued over 4,300 notices of termination to their tenants, a sizable increase from the 3,000 notices issued in Q3. The majority of these evictions are likely to take place in the coming weeks and months now that the eviction ban has ended.

To clarify, an eviction ban was in place from 31st October 2022 until 31st March 2023. What this meant in practice was that tenants could not be evicted during this timeframe, but it did not prevent landlords from issuing eviction notices, to take place at a later date.

The CEO of the housing charity Threshold said it was an unsustainably high number of notices, considering the lack of availability of rental properties and rising rental costs. Those being evicted will have no choice but to re-join the hoards of people searching for a rental property in an incredibly competitive market, or turn to their local authority to request housing support.

How to support relocating employees

It’s crucial that relocating employees renting homes in Ireland are familiar with their rights as tenants. To support them from the outset, offer guidance in walking them through their rental agreement and flag any clauses they should be aware of. For those being asked to leave their property, we advise that they visit Citizens Information to familiarise themselves with their rights.

2 - Number of available rental properties has fallen by 80,000 in last decade

According to estate agency Sherry FitzGerald, the number of properties available to rent in Ireland has dropped by 80,000 in the last 10 years. An increasing number of buy-to-let landlords are choosing to sell up, in the face of rising property taxes and increased regulation on renting.

How to support relocating employees

With more and more buy-to-let landlords retiring from the rental market, it’s vital to be aware that some employees may be facing eviction, understandably detracting hugely from their work. It’s advisable to consider as a company what support can be offered to staff in this situation.

People leaders may wish to share details of new build developments where home-hunting employees may have more success in securing a home. Many such developments are well connected to central Dublin by public transport and offer high-specification facilities.

Talent strategy: 94% of Irish business leaders struggling to recruit tech talent, despite big brand layoffs 

In our March issue we reported on the mass layoffs affecting thousands of workers across Dublin’s tech sector, at big brands like Facebook, Google and Microsoft. These sweeping cuts led to 2,300 tech job losses in the first quarter of 2023, according to a Central Bank report.

It seems like this should be an opportunity for other companies looking to acquire top tech talent for their open roles, and of course help people get back into work. However, this doesn’t appear to have trickled down, as the vast majority of companies are having issues recruiting tech staff.

In a poll of 141 business leaders in Ireland, conducted by global tech company Expleo, respondents highlighted the challenges they’re facing when it comes to tech recruitment:

●     94% said they’re struggling to recruit IT staff

●     83% are struggling to meet the rising salary expectations of tech jobseekers

●     38% said that candidates are receiving salary offers 20%+ higher elsewhere

Respondents are struggling to recruit from the local talent pool, and are clearly advocates for looking abroad for skilled talent and relocating candidates to Ireland, as well as exploring AI:

●     70% said their plans for growth are being halted by the lack of available talent

●     74% believe Ireland is failing to attract top talent from abroad

●     74% said automation will be part of their solution to the skills shortage

PerchPeek insights

While it seemed at first that mass layoffs at the global brands based in Dublin would play a key role in helping other companies tackle their tech skills shortages, this isn’t the way it’s panned out, largely due to smaller companies struggling to offer comparable compensation packages.

In order to stay competitive, businesses must increase efforts to retain existing talent and attract new candidates by improving the benefit packages on offer. However, they must also explore recruiting skilled talent from overseas to fill open roles more quickly and meet business goals.

Global tech consultancy Intive recently contacted PerchPeek when struggling to meet ambitious recruitment targets in the ultra-competitive Dublin market. To adapt to the massive shortages of talent available, they were able to redirect their recruitment efforts to other parts of the EU - with great effect. To find out how we helped Intive tap into a global talent base on a low budget, for <€5k per relocation, check out our case study!

Talent strategy: Many Irish employees at risk of falling behind at work due to skills shortages

As of May 2023, the Irish government has kicked off the European Year of Skills, an EU initiative to promote reskilling and upskilling for workers, with the publication of a new report from the Organisation for Economic Co-operation and Development (OECD).

Key findings from the OECD report:

●     The % of young adults in Ireland with a tertiary degree is well above the OECD average

●     However, many people are at risk of falling behind as they don’t have the right skills to thrive in their current employment and are unprepared for changes in the world of work

●     Irish employers have expressed significant concern about labour and skills gaps

The report specifically called out the risk that workers could fall behind due to the growing prevalence of automation, and noted that “many people will need to develop skills for new jobs or upgrade their skills for existing ones”.

The recommendation from the OECD is that Ireland invest significantly in upskilling programmes and provide support for workplaces to facilitate these programmes so Irish businesses, particularly SMEs, can keep up and remain competitive with the big players in the EU market.

PerchPeek insights

Considering that Ireland is one of numerous countries experiencing a labour shortage right now, it’s a really positive step to have the backing of the government. As the OECD report called out, such a complex issue needs a joined-up, all-of-government approach to help tackle it.

People leaders must strike the right balance when addressing skills shortages. Staff retention is crucial, and upskilling your workforce is bound to play a major role in helping them thrive. Yet, to fill skills gaps quickly, meet business targets and keep up with competitors, it’s vital to look abroad for skilled candidates as well as at home to take advantage of a much wider talent pool.

Support your talent: How to help relocating staff find the best deals for fast and reliable broadband

One of the first things relocating employees need to arrange when moving into their new home is sorting out the wi-fi! But with so many options available, they might not be sure where to start.

In an age when flexible and remote working is increasingly the norm, it’s vital that one’s home internet connection is fast and reliable. Yet in the midst of a cost of living crisis, everyone is of course looking for the best deals to make the most bang for their buck (or rather, euro)!

Here’s PerchPeek’s guide to getting set up, and the best broadband deals out there:

Upon moving in

In most cases, the internet will still be connected under the previous tenant’s name but the service itself will have been switched off. The new tenant can identify the current provider by asking their landlord or taking a peek at the router. It’s then simply a matter of calling the provider and switching the name and bank details on the account.

Occasionally - usually for new build properties - a brand new internet connection will need to be installed for the first time. Anyone in this situation should contact Eir or Virgin Media, as these are the providers that own the majority of Ireland’s broadband infrastructure at the moment

Broadband deals

It’s important to make relocating employees aware from the outset that in Ireland, broadband doesn’t come cheap. In fact, the country is one of the most expensive in the EU for wi-fi. It’s commonplace to spend approximately €50 - €60 per month on this particular service.

The main broadband providers in the Republic of Ireland are:

●     Eir

●     Virgin Media

●     Pure Telecom

●     Sky

●     Digiweb

●     Vodafone

●     Imagine

At the moment, the cheapest deal for new customers is with Eir, who are offering a package for €34.99 for the first 12 months, and €65.99 thereafter. However, prices fluctuate all the time!

We recommend that employees on the hunt for broadband deals check out Money Guide Ireland, which regularly ranks the best offers based on price, maximum speed and data limits.

Other great comparison sites include Switcher.ie, Selectra.ie and Bonkers.ie.

We hope you enjoyed this month’s update!

If you have any feedback, comments or questions about what's happening in your location, feel free to reach out via the form at the bottom of this page.

Thanks for reading, and see you next month!


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