CIPD breakfast briefing - STEM Talent Crisis
Cork, 7 February 2018
More than 100 HR professionals attended the CIPD Southern Region Breakfast Briefing sponsored by Fastnet – The Talent Group, to hear from Matt Moran and Siobhan Dean of Biopharmachem Ireland on the STEM talent pipeline.
The fastest growing economy in the Eurozone, Ireland is home to an enviable list of global leaders in pharma and high-tech industries. Ireland was recently named the best country in the world for attracting high-value foreign direct investments for the sixth year in a row.
“The manufacturing sector in Ireland is expected to grow by 43,000 jobs between 2011 and 2020; the market will potentially require 8,000 highly skilled professionals to work in Biopharma companies in the next 5 years. This presents challenges and also opportunities for our sector,” cited Matt Moran, Biopharmachem Ireland.
Niamh O’Driscoll of Fastnet – the Talent Group and event sponsor said, “While the FDI backdrop in Ireland is very positive, high-tech industries here depend on a consistent pipeline of talent and there is no doubt we are back in the war for talent and already at crisis point in relation to the supply versus demand.
At Fastnet, we have seen the volume of open roles with our life sciences clients increase by 37% in 2017 and the number of counter offers increase by 28% year on year indicative of the choice STEM candidates have but also the pressures on our clients to retain top talent. In response to escalating demand, we have continued to expand the size, specialization and geographical reach of our Talent Acquisition teams with deep SME capability built in all relevant functional verticals including: Quality, Engineering, Supply Chain, Finance & IT”.
The impact of Brexit, automation and technological advances as well as new regulation and governance as drivers of change were also discussed at the CIPD Breakfast Briefing, held at the Clarion Hotel Cork City.
CIPD Southern Region Chair Dave Barry added “With the unrelenting pressure to source and attract highly skilled STEM employees, the HR lens is also very much on retention and succession. As HR professionals, we recognize the fact that the most progressive organisations view employees as customers and partners, and are creating value through their people”.