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Adjusting To The Times Of A Changing Market

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A recurring feature of recruiters’ conversations with middle office, investment banking and asset management candidates is a discussion about shift work. Candidates are increasingly being asked to work outside of the normal working hours of 9am-5pm. Low corporation tax rates and the quality of the labour market in Ireland have incentivised companies to establish service centres in Dublin but companies tend to retain the need and desire to service their clients during the waking hours that are most convenient for and useful to them.

 

2pm-10pm or 12pm-9pm shifts have thus been designed to cover the peak operating hours of the U.S. market. 10am-6.30pm covers the Asian markets. These hours present a natural challenge to those with small children, extracurricular commitments or those with a fear that these hours might critically impair the quality of their social life.

 

Some shifts come with the caveat of being temporary but most are permanent as companies, especially those with newly created or expanding functions, attempt to structure the business around accepted teams. This is perhaps the crux of the matter in an Irish context, as candidates have grown accustomed to late shifts being only for a brief, designated period of time or on a rolling basis. The idea that one might be asked to work until 9pm for the foreseeable future could justifiably be daunting.

 

Medical professionals and those in the emergency services are required to work ‘nights’ on a periodic basis; this is tolerated under the understanding that it is intermittent or that it’s a necessary characteristic of their job. Likewise, if a candidate is interested in working within asset management, with the range of products, activities and corporate clients it offers, it then seems logical they would accommodate a feature that is becoming more important to its operation.

 

Shift work also comes with its perks

 

Shift Allowances

Working unsociable hours can bring financial perks like bonuses with them. This shift allowance ranges from 10-25% and as such companies make an effort to compensate candidates for working irregular hours.

 

Lack of traffic on the commute

Working distinct hours that only a small percentage of the population partake in means less of the daily stresses like traffic and queues making everything a lot more enjoyable.

 

Less overtime

Having a quiet working environment with less disruptions than daytime counterparts means getting the job done on time. This, in turn, leads to less need for overtime.

 

Autonomy

Working evening shifts sometime means working with less supervision giving people more independence to do their job the way that they choose to do it. This leads to more responsibility in a position and ownership of projects. Although this is not the case in all roles autonomy can be a perk for some.

 

Flexibility at Home

If workers have children at home shift work can eliminate the need for childcare expenses. Having free time during the day can also help when doing normal day to day things like banking and shopping.

Posted by Recruitment Consultant, Sigmar on 30 November 2017

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Sigmar Recruitment wins Recruitment Agency of the Year at ERF Awards 2021

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We’re thrilled to announce that Sigmar Recruitment picked up Recruitment Agency of the Year and Best in Practice – Sales & Marketing at the 2021 Employment & Recruitment Federation Awards on Friday 25th February 2022. In a year that Sigmar Recruitment will celebrate another major milestone; of being in business for 20 years, we are over the moon to receive this recognition. Speaking on the win, Sigmar CEO, Adie McGennis said; “It is a great testament to every single person in Sigmar and the professionalism, coolness and positivity they displayed over the challenges of the pandemic. Their ability to get involved in not just providing excellent service to our clients and candidates but initiatives such as Talent Summit and Ireland, Gateway to Europe, I’m so pleased for the team to receive this recognition. It has been a record-breaking year and this is the crowning achievement.” Alan Murphy who accepted the Best in Practice – Sales & Marketing Award added, “We are delighted to have won this award again after what has been a challenging but ultimately rewarding year in recruitment. It’s a testament to how the team adapted to the demands of the market and will inspire us to continue to grow our high performing team and offer a best-in-class service to our candidates and clients alike!” The postponed ceremony took place in the Shelbourne Hotel and was attended by over 360 guests. The awards are designed to identify and reward excellence in recruitment in Ireland and is judged by an independent panel, including representatives from the international recruitment sector, the National College of Ireland and DCU. A huge congratulations to all of our fellow ERF Award winners and nominees. Visit the Employment & Recruitment Federation website to see a full list of the 2021 winners. 

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Download - Salary Guide Ireland 2022 (PDF) Executive Summary From Adie McGennis, CEO What a year! We came into the year with high uncertainty but hope that we had all seen the chaotic stage of the pandemic over and a “New Normal” (or “New Abnormal”) giving stability and growth to businesses and economies.  Equity markets and job vacancies grew in the first half of 2021 to record levels. At Sigmar, we had experienced our strongest month in twenty years by May and have broken business records since then. It applied to both the permanent and temp/contract jobs market. This in itself, is unusual because generally strong markets see an increase in permanent hiring, and less utilisation of temps and contractors. Such was the nearly frenzied, demand that companies looked for any solution to enable their growth.  Salary inflation, as well as price inflation, began to increase, but all indicators show that further increases are coming. This was across the board, but particularly in IT and life sciences. Certain skills are experiencing double digit inflation, purely because demand is at an all-time high. Supply of skills by re-training or re-educating staff from sectors that suffered (retail, hospitality, etc.) was slow.  It does present opportunities for SMEs to compete with larger multinationals, as the employee experience has never been more important and the flexibility that SMEs can generally give and the speed by which they can move, can give significant edge.  Remote work obviously continued to increase significantly, and hybrid models seem generally to be the optimum for employees. Tax and legislative issues with working in a different country has slowed this internationalisation, but it does present excellent talent opportunities once it is well planned. Traditional professions, like accounting, HR and legal grew as pent-up demand was evident. In Ireland particularly, construction is very buoyant after the tight Covid restrictions closed many sites in 2021 lifted and the need for housing requires a large increase in activity in the coming years.  So, a year of unprecedented growth in demand for talent, giving challenge and opportunity. The recovery of economies will sustain this growth throughout 2022 but some apprehension prevails that global economic shocks could accelerate recession. So, it is difficult to be over-confident on a medium-term basis. Predictions are difficult but I would estimate that demand will begin to level out and drop late 2022 and return to more “normal” or pre-Covid levels in 2023.  The various Covid strains continue to challenge, but more importantly we hope everyone stays safe and healthy.