Opening of new Fastnet Offices and Executive Search Division

Minister Michéal Martin officially opened Fastent Recruitment’s new offices at Eastgate Business Park, Little Island, Cork. The Executive Search Division will focus on a growing client demand to fill Senior Executive vacancies, Interim Management assignments and Boardroom appointments in all sectors. In the last 18 months Fastnet have seen client demand increase by 20% to fill senior executive positions earning €90,000 and above, which is consistent with the recent IDA report citing a substantial increase in higher earning executive positions in the market place. Fastnet Recruitment felt these were strong indicators of the need for a specialized recruitment division in this area.

“Fastnet has expanded rapidly over the last few years growing by 128% since 2003,” said Niamh O’Driscoll, Managing Director. “Over the last few years we have found that more and more clients are seeking experienced executives to fill vital roles in their organizations and we feel that our new Executive Search Division will meet their needs. The process is now much more complex than merely ‘finding people’. Our clients expect us to be engaging with them to develop optimum recruitment strategies and to work with them on every aspect of sourcing the right blend of skills and leadership and ultimately, to create superior work teams. I believe firms are becoming increasingly aware that human resources can be their greatest strength in creating competitive advantage and strong leadership is essential. We believe this partnership model represents the future for agency / client relationships and we have many customers who clearly value this approach.”

2006 was a very successful year for Fastnet and with the recent ESRI Quarterly Economic Commentary expecting GNP growth of 6.2% for 2006 and forecasting a real GNP growth of 5.3% for 2007 there are reasons to be optimistic for the future. Furthermore the recent year end statement from IDA Ireland reports an outstanding year of growth and new investments in 2006, with a net gain of 3,800 jobs. This performance was driven by 71 new business projects with an investment commitment of €2.6 billion and an increasing trend towards R&D projects involving an investment of €470 million. Indications at present point towards employment growing by almost 4% in 2007 and new inward migration is expected to be close to 72,000 people, making a strong impact in the recruitment sector.

“Fastnet Recruitment is a progressive and innovative consultancy, dedicated to providing high quality recruitment services to clients and candidates nationally,” said Minister Michéal Martin. “The opening of their new division today is clear evidence of further expansion in the recruitment sector and that those familiar with this sector see attractive opportunities in the years ahead. Clearly, the level of business confidence in the sector remains quite buoyant and this augurs well not only for those running such businesses but also for those seeking a new job.”

Fastnet commenced operations in 2000, with Niamh and Pat O’Driscoll as founding directors, serving a broad cross section of indigenous and multinational firms, with a dominant position in Pharmaceuticals. Having outgrown its office space in Penrose Wharf, Fastnet have acquired more spacious facilities in the Eastgate Business Park and are now poised for further expansion. Fastnet’s new offices are ideally situated relative to the well established local industry base, the expanding Carrigtwohill and East Cork region and the Lee Tunnel, which offers easy access to and from the Ringaskiddy area and the south west.

The new Executive Search Division at Fastnet Recruitment will be working closely with existing clients as well as new companies entering the Irish market.