Impact of AI on hiring being felt in accountancy sector
artificial intelligence
(AI), the latest Morgan McKinley Quarterly Employment Monitor suggests.
Overall, the research suggests there is a slight, 1.8 per cent, decline in the number of vacancies, indicating a 'cautious employment environment'.
However, 'the standout development this quarter is the significant impact of AI and automation, particularly within the accountancy and finance sectors', according to Trayc Keevans, global director at Morgan McKinley Ireland.
'The notable reduction in graduate hiring by major firms, driven by AI capabilities, highlights potential challenges ahead,' she said.
'The accounting and finance sector is experiencing a significant shift towards data analytics and AI-driven roles. Companies are increasingly leveraging AI capabilities to automate routine tasks such as accounts payable, accounts receivable, credit control, and payroll.'
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Lack of skills, badly formatted applications: survey reveals why job candidates are rejected
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More broadly, she said, 'contract hiring among larger multinational firms has slowed this quarter, influenced by tighter cost controls prompting a shift towards permanent positions or offshore staffing solutions.
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'Additionally, ongoing debates around hybrid and return-to-office working models continue to shape recruitment strategies, as employers seek the right balance between flexibility and in-person collaboration.'
Separate research by Hays Ireland highlights the ongoing importance of remote working to professional staff.
It finds 85 per cent say hybrid and flexible working has positively impacted upon their wellbeing.
The survey also suggests there continues to be significant recognition of the importance of remote working on the part of employers, with more than half (61 per cent) investing in flexible working arrangements to boost wellbeing.
The company says even the media focus on hybrid working and the repeated reports it is under threat is a source of anxiety, however. Its survey found 42 per cent of professionals found the news coverage of return-to-office policies negatively impacted upon their wellbeing.
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Significant growth in professional job seekers in first quarter, report shows
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Despite that, Maureen Lynch, managing director of Hays Ireland, said the research suggested a general alignment between employers and their staff with regard to issues of workplace wellbeing.
'It's encouraging to see a shared recognition between employers and employees that wellbeing is key to business success,' she said.
Recruitment consultants Manpower Ireland, meanwhile, said prospects for hiring in the third quarter remain positive, with a Net Employment Outlook of 29 per cent.
The figure is obtained by deducting the number of employers responding to its latest survey that indicate they are likely to cut staff numbers in the third quarter of this year from the number expecting to hire.
The firm says 38 per cent of those indicating they expect to add staff suggest it will be the result of business expansion. Keeping up with technological development, changing service needs and skills requirements are among the main other motivations mentioned.
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