Adjusting To The Times Of A Changing Market

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.