DUBLIN, Ireland - According to a new survey by recruitment firm Azon, following Brexit, the Irish job market might face a war on talent.
The findings of the study point out that nearly half of Irish financial firms might lose employees to international companies that are increasingly relocating to Ireland in the wake of Brexit.
The survey also noted that instead of the traditional brain drain via emigration, Brexit may result in greater competition in Ireland for skilled workers.
Further, this is also dubbed to push up salary levels in the country.
Azon partner Caroline Bruno confirmed that domestic banks and other financial institutions were gearing up for a “war on talent.”
Bruno added that firms were going to have to show their employees progression and opportunity if they wanted to retain them.
The survey, that included over 500 senior financial executives is said to have found that proximity to an airport was the most important priority for international executives considering a move to Ireland.
This was followed by remuneration.
A majority of 72 percent respondents said that they believed Brexit would have a positive impact on financial services in Ireland claiming there would be a significant inflow of jobs.
Meanwhile, 81 percent respondents also felt the Government was not doing enough to maximise the potential dividend from Brexit.
Bruno said the low rating by respondents of the Irish Government’s Brexit efforts to date suggests that “senior executives are of the view that either they are not being asked for their input or they are not being listened to by Government.”