Download the Prosperity Irish Digital Salary Survey for 2017
While staff retention was the primary difficulty for Digital and Technology companies in 2016, this has become secondary to the fastest emerging problem in 2017 – the lack and the cost of accommodation.
The enduring reality is that the Digital and Tech sectors in Ireland cannot be sustained by the indigenous skills base. Irish Universities simply do not create nearly enough graduates to fulfil the demands of the multinational and indigenous Digital and Tech sectors in Ireland. Therefore, there is a reliance on attracting foreign talent to Ireland, and in recent years, as many as 40% of staff placed by Prosperity have originated from abroad.
This reliance of local demand on international supply is now being jeopardised by the increasing cost of living here; in particular the cost and the availability of rental accommodation.
Whereas in 2016 and preceding years, we had a rejection rate of approximately 15% on job offers to candidates living abroad, by the third quarter of 2017 that has doubled to nearer 30%. Time and again, candidates from abroad have cited an internet search on the cost and availability of accommodation in Dublin (and the many associated horror stories) as their reason for rejecting a job offer, and they instead choose to remain at home or locate to a different European city.