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The challenges for acquiring talent may include:
- Changes in visa policies and global mobility restrictions;
- Cautious spending that could result in longer, more complex hiring processes coupled with the risk that companies will prioritise hiring local talent in the US due to shifting labour policies or cost-saving measures;
- A shift to contract opportunities, a trend we have already witnessed, reflecting employers’ desire for flexibility and a cautious approach to permanent hires; and
- Increased competition among jobseekers for a reduced number of opportunities, potentially leading to longer lead time to secure new roles.
Organisations could adopt permanent remote working policies. While this may open up opportunities for a broader talent pool and flexible working arrangements, professionals in the Irish market would likely face increased competition from the global talent pool, potentially leading to downward pressure on salaries as companies seek cost-effective labour.
With potential changes in the US economic environment post-election, given their established presence in Ireland, US companies with operations here may need to adjust their salary structures to remain competitive in attracting top talent, particularly if remote work opportunities expand.
A focus on enhancing their existing localised talent acquisition strategies, coupled with a strong emphasis on employer branding to showcase corporate culture and values, will help to make positions more attractive in a competitive market.