12 IS THE MAGIC NUMBER
Some welcome news for Irish business came this week in the form of Adecco’s Global Talent Competitiveness Index (GTCI) report. This report found that Ireland ranks 12th in the world in attracting and retaining skilled workers. The report places Ireland ahead of European countries such as Germany and France but predictably behind the UK and the United States.
Ireland has, in recent years become somewhat of a global tech hub, with multinational tech corporations such as Facebook choosing Dublin as the location for their European head office. This is certain to have boosted Dublin’s standing in this report and added to Ireland’s ranking as 10th for talent competitiveness worldwide. This relatively newfound standing as a tech hub shows the growing ability for Ireland to benefit from the changing technological and economic landscape.
One warning sign from this report which was pointed out by Adecco UK and Ireland CEO, John L Marshall is that whilst these findings show Ireland as being a centre for attracting quality talent, it also conversely points to a reliance on attracting outside talent and investment, rather than investing in home-grown talent. Marshall was quoted as saying
“This year’s Global Talent Competitiveness Index demonstrates Ireland’s success in building a robust talent infrastructure, capable of both attracting and retaining highly skilled talent from across the world […] That said, the report also demonstrates the need to continue to invest in home-grown talent, to ensure the next generation of Irish professionals are equipped to compete in the global marketplace and face challenges of the future.”
So whilst we have officially positioned ourselves as players in the global tech market, it is now essential to turn an eye inward to focus on the talent and funding we have at our disposal in this country, to avoid an over-reliance on attracting outside talent.
Whilst times are changing for us here and exciting new prospects are on the horizon, it is important for Irish businesses to focus on their own home-grown talent and ensure that this is fostered and trained appropriately to ensure that we have a talented and capable Irish workforce at our disposal.
Should you require any help, assistance or guidance on these or any other tax or business matters, please don’t hesitate to contact us.
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~ DCA PARTNERS, DECLAN DOLAN & EAMONN GARVEY