Multinational companies were slower to recruit here in January, particularly in the IT sector, a new survey shows.

The latest Morgan McKinley Ireland Employment Monitor shows that the number of professional job vacancies last month was up by 33% nationally compared to the previous month.

But it noted that the dynamic in the IT sector between Irish headquartered companies and US multinational companies has shifted. 

In the past it was difficult for Irish SMEs to compete with larger multinational companies who could offer better salaries, conditions and access to cutting edge technology. 

But it said the majority of multinational companies have become slower in terms of their hiring times, while Irish companies are winning "the war for talent" in this area because they are able to mobilise their hiring process and match the innovations of multinationals to claim the best talent on offer. 
 
Morgan McKinley also that the overseas technology expansion and hiring plans of US companies have slowed down as companies wait to see what restrictions - if any - that the new US President will place on companies holding intellectual property overseas. 

"Again this has allowed Irish companies well placed to compete for available talent to reap the benefits," c commented Morgan McKinley Ireland's director of Inward Investment Trayc Keevans.

On Brexit, Morgan McKinley said that Ireland is seeing interest from large Asian headquartered investment banks who have operations in the UK.

They are conducting contingency planning and considering the talent that Ireland has to offer for their operations should they decide to relocate operations here, Ms Keevans said.

"Should they choose to do so remains to be seen but Ireland’s financial services talent pool is well positioned to meet their requirements if they do decide to locate here," she added.

The monitor also said that in financial services, the country is competing with other financial jurisdictions including Frankfurt, Luxembourg and Paris to attract more banking operations to Ireland. 

The interest among returning diaspora with this skillset is growing, it noted.