In today’s rapidly evolving business landscape, the traditional concept of employment is undergoing a significant transformation. As companies strive to stay agile, competitive, and innovative, they are increasingly turning to a more flexible workforce, embracing the rise of contractors in the workplace. In this article, we delve into the benefits, challenges, and future implications of this emerging trend, shedding light on why contractors are becoming a driving force in the modern business world.

Understanding the Contractor Phenomenon

What are Contractors?

Contractors, also known as freelancers, or independent consultants, are individuals who provide services to businesses on a project-by-project basis. Unlike full-time employees, contractors are not tied to a long-term employment contract and are engaged to complete specific tasks or projects within a defined period.

The Surge in Contractor Popularity

The increasing popularity of contractors can be attributed to several factors. For businesses, hiring contractors offers greater flexibility in managing workloads, as they can scale their workforce up or down based on demand. Moreover, engaging contractors can often be more cost-effective than hiring full-time employees, as businesses save on employee benefits, taxes, and overhead expenses.

Advantages of Hiring Contractors in the Workplace

Expertise and Specialization

One of the most significant advantages of hiring contractors is gaining access to specialized skills and expertise. Contractors often have a wealth of experience in their respective fields, having worked on various projects with different clients. This diverse background enables them to offer unique insights and solutions to business challenges.

Flexibility and Agility

In a dynamic business environment, adaptability is crucial. Contractors provide businesses with the agility to respond swiftly to changing market conditions and project requirements. As businesses can onboard contractors quickly, they can expedite their operations and seize new opportunities without delay.

Cost Savings

For many companies, cost savings are a compelling reason to opt for contractors. Hiring full-time employees entails significant expenses, including salaries, benefits, training, and infrastructure costs. On the other hand, contractors are typically responsible for their own taxes, insurance, and equipment, reducing financial burdens on the hiring company.

Reduced Administrative Burden

The administrative workload associated with managing full-time employees can be substantial. Payroll, benefits administration, and compliance with employment regulations require time and resources. Hiring contractors alleviates much of this burden, allowing businesses to focus on their core operations.

Challenges and Mitigating Strategies

Lack of Long-Term Commitment

A common concern with hiring contractors is the lack of long-term commitment. As contractors are not permanent employees, some companies worry about continuity and building lasting relationships. To mitigate this, businesses can foster strong partnerships with reliable contractors, ensuring they are available for future projects and collaborations.

Integration with Company Culture

Integrating contractors into the company’s culture and values can be a challenge. To overcome this, companies can incorporate contractors into team-building activities, virtual meetings, and internal communications, creating a sense of belonging and purpose.

Knowledge Transfer and Intellectual Property

As contractors work on diverse projects, there might be concerns about knowledge transfer and the protection of intellectual property. Clear contracts outlining confidentiality and ownership rights can address these issues effectively, which is what we take care of.

Remote & Hybrid working Contractors

COVID accelerated the need for remote working with more and more companies having adopted a remote/hybrid working policy. However, some companies are still quite strict on their onsite working policy. Adopting and embracing a hybrid/remote working policy can attract more skilled contractors to fulfil your skills shortages.

The Future of Work: Embracing a Hybrid Model

As the trend of hiring contractors continues to gain momentum, the future of work seems to be embracing a hybrid model. Companies will likely adopt a blend of full-time employees and contractors to optimize efficiency, innovation, and cost-effectiveness.

Conclusion

The rise of contractors in the workplace represents a paradigm shift in how businesses structure their workforce. The benefits of hiring contractors, including access to specialized skills, flexibility, cost savings, and reduced administrative burden, make them an attractive option for companies looking to thrive in the modern business landscape. Embracing a hybrid workforce model that combines full-time employees with contractors offers the best of both worlds, fostering innovation, adaptability, and sustainable growth. As the future of work continues to evolve, embracing the contractor phenomenon will undoubtedly play a pivotal role in shaping the success of businesses across various industries.

What we can do for you

If you need professional guidance on your future career prospects get in touch with us.

STEM Recruitment Partners specialises in the placement of Contractors from Science, Technology, Engineering & Mathematics backgrounds into Manufacturing, Life Science, Supply Chain & Engineering Businesses nationwide.

Our leading engineering and life science recruitment agency have offices based in Limerick & Cork, and we have excellent job openings all over Ireland. Check out some of our roles in our job portal.

Our goal is to become Ireland’s No.1 Recruitment Agency Specialising in the following areas

• Executive Search Recruitment
• Manufacturing and Engineering Recruitment
• Medical Device Recruitment
• Engineering to Senior Management Recruitment
• Construction Engineering Recruitment
• Supply Chain Recruitment
• Life Science Recruitment
• Talent As a Service

Reach out to our Head of Contractor Solutions, Cormac Malone, for more information on our Talent as a Service solutions.

Cormac Malone

cormac@stemrp.ie

or send your CV to info@stemrp.ie

 

In recent years, Ireland has made significant strides in reducing the gender pay gap, positioning itself among the countries with the lowest disparities in Europe. In this article, we delve deep into the factors contributing to Ireland’s commendable achievement based on a study carried out by Eurostat, examining the data, policies, and cultural shifts that have played a pivotal role in narrowing the wage gap between men and women.

Understanding Ireland’s Gender Pay Gap

At just €0.91 earned by women for every euro earned by men, Ireland’s gender pay gap has become a notable subject of interest. This figure places Ireland in a favourable position compared to many other European nations. However, while the numbers show progress, exploring the underlying reasons and implications is essential to gain a comprehensive understanding of the situation.

The Role of Legislation and Policies

One key factor that has contributed to Ireland’s success in reducing the gender pay gap is the implementation of progressive legislation and policies. The Irish government has taken proactive steps to address pay inequity, including the introduction of gender pay gap reporting requirements for companies. This move has forced businesses to be transparent about their pay structures and has put a spotlight on any potential wage discrepancies.

Moreover, the promotion of parental leave policies and flexible working arrangements has facilitated a more balanced distribution of responsibilities between men and women in the workplace. By supporting work-life balance, these policies have encouraged more women to stay in the workforce, contributing to a decrease in the gender pay gap.

Changing Workplace Dynamics and Corporate Culture

In recent years, Irish workplaces have experienced a gradual shift in their dynamics and corporate culture. There is now a growing recognition of the value of diversity and inclusion, which has led to increased efforts to provide equal opportunities for men and women at all levels of the organization.

Companies that prioritize diversity and gender equality have shown remarkable results in reducing the pay gap. They have implemented strategies to ensure fair hiring practices, equal pay for equal work, and improved opportunities for career advancement for all employees. Such initiatives have not only contributed to narrowing the gender pay gap but have also enhanced overall organizational performance and employee satisfaction.

The Impact of Education and Skill Development

Education and skill development have played a vital role in empowering women and enabling them to pursue careers in diverse fields. The emphasis on gender-neutral education and encouraging girls to explore STEM (Science, Technology, Engineering, and Mathematics) fields has opened up new avenues for women in the job market.

As women attain higher levels of education and develop their skills in various sectors, they become more competitive in the workforce, reducing the pay disparity between genders. The fostering of an environment that supports continuous learning and professional growth has proven instrumental in bridging the pay gap.

Cultural Shifts and Social Norms

Behind the statistics and policies lies a cultural transformation in Ireland. Societal norms have evolved, challenging traditional gender roles and expectations. The idea that certain jobs or industries are exclusively meant for men or women has gradually eroded, leading to a more inclusive and diverse workforce.

Influential campaigns and movements advocating for gender equality have also contributed to changing mindsets and promoting the value of fair compensation for all individuals, regardless of gender. These collective efforts have played a significant role in reshaping Ireland’s social landscape and reducing the gender pay gap.

 

Conclusion

Ireland’s success in achieving one of Europe’s lowest gender pay gaps can be attributed to a combination of legislative initiatives, shifting corporate cultures, educational advancements, and evolving social attitudes. The nation’s commitment to fostering equality and inclusivity has created an environment where both men and women can thrive and contribute to the country’s economic prosperity.

As we move forward, it is essential to sustain and build upon these positive changes. Continual evaluation of policies, targeted interventions, and ongoing support for gender equality will be vital to further narrowing the gender pay gap and setting an example for the rest of the world.

What we can do for you

If you need professional guidance on your future career prospects get in touch with us.

STEM Recruitment Partners specialises in the placement of candidates from Science, Technology, Engineering & Mathematics backgrounds into Manufacturing, Life Science, Supply Chain & Engineering Businesses nationwide.

Our leading engineering and life science recruitment agency have offices based in Limerick & Cork, and we have excellent job openings all over Ireland. Check out some of our roles in our job portal.

Our goal is to become Ireland’s No.1 Recruitment Agency Specialising in the following areas

• Executive Search Recruitment
• Manufacturing and Engineering Recruitment
• Medical Device Recruitment
• Engineering to Senior Management Recruitment
• Construction Engineering Recruitment
• Supply Chain Recruitment
• Life Science Recruitment
• Talent As a Service

Send your CV to info@stemrp.ie

www.stemrp.ie  061 – 540941

 

In today’s diverse and inclusive society, it is crucial for businesses and organizations to actively embrace diversity in their recruitment strategies. Pride Month provides an excellent opportunity to not only celebrate the LGBTQ+ community but also to highlight the importance of inclusivity and equality in the workplace. In this blog post, we will explore how embracing Pride Month goes beyond mere celebrations and can positively impact your recruitment efforts. We will discuss the significance of creating an inclusive work environment, the benefits of diverse teams, and practical steps you can take to ensure your recruitment practices promote equality and attract a diverse pool of talent.

Embracing Pride Month: A Catalyst for Inclusivity

The Meaning of Pride Month

Pride Month is celebrated every June and commemorates the Stonewall riots that took place in 1969. These events marked a pivotal moment in the fight for LGBTQ+ rights and liberation. Today, Pride Month serves as a time to recognize and celebrate the diversity and achievements of the LGBTQ+ community while advocating for equality and inclusivity.

Going Beyond Celebrations

While Pride Month often involves vibrant parades and festivities, it is essential to move beyond the surface-level celebrations and delve into meaningful actions that promote inclusivity. Embracing Pride Month in recruitment means acknowledging the LGBTQ+ community’s value and actively creating an environment where all individuals feel welcome, respected, and supported.

The Significance of an Inclusive Work Environment

Fostering a Sense of Belonging

Creating an inclusive work environment is not only the right thing to do but also has significant benefits for your organization. When employees feel a sense of belonging, they are more likely to be engaged, motivated, and loyal to the company. Inclusivity breeds a positive work culture, which, in turn, leads to higher productivity and overall satisfaction among team members.

Attracting Top Talent

In today’s competitive job market, top talent seeks out employers that prioritize diversity and inclusion. Embracing Pride Month and demonstrating your commitment to inclusivity can help attract a diverse pool of highly skilled candidates who will contribute unique perspectives and innovative ideas to your organization. By being proactive in promoting equality, you position your company as an employer of choice for individuals from the LGBTQ+ community and beyond.

The Benefits of Diversity in the Workplace

Enhanced Creativity and Innovation

Diversity in the workplace brings together individuals with different backgrounds, experiences, and viewpoints. This rich tapestry of perspectives fosters creativity and innovation by encouraging out-of-the-box thinking and problem-solving. When teams consist of diverse individuals who can challenge conventional wisdom, they are more likely to develop groundbreaking solutions and drive positive change.

Improved Decision-Making

Homogeneous teams often suffer from groupthink, a phenomenon where members conform to the prevailing opinions and avoid challenging the status quo. In contrast, diverse teams encourage healthy debates and multiple perspectives, leading to more robust decision-making processes. By embracing Pride Month and promoting diversity, you create an environment that values diverse viewpoints and encourages open discussions, resulting in better-informed decisions.

Practical Steps for Embracing Pride Month in Recruitment

1. Review Your Job Descriptions and Language

Examine your job descriptions and ensure they use inclusive language that welcomes candidates from all backgrounds. Avoid gendered pronouns and consider using gender-neutral terms. Make it clear that your organization is committed to diversity and equality.

2. Create a Safe and Supportive Interview Process

Ensure that your interview process is designed to be inclusive and respectful. Train interviewers on best practices for creating a safe space for candidates to express themselves authentically. Use gender-neutral interview questions and avoid assumptions about personal matters.

3. Establish Employee Resource Groups (ERGs)

Employee Resource Groups are affinity groups that bring together employees with shared backgrounds or interests. Consider establishing an LGBTQ+ ERG to provide a support network, foster inclusivity, and create opportunities for education and awareness within your organization.

4. Provide Diversity and Inclusion Training

Invest in diversity and inclusion training programs for all employees, including managers and leaders. These programs help increase awareness, promote empathy, and provide practical tools for building inclusive teams and workplaces.

5. Partner with LGBTQ+ Organizations

Forge partnerships with LGBTQ+ organizations and participate in Pride Month events and initiatives. This demonstrates your organization’s commitment to the community and allows you to network with potential candidates who may be attending or involved in these events.

6. Regularly Assess and Improve

Continuously evaluate your recruitment and retention practices to ensure they are aligned with your commitment to diversity and inclusivity. Seek feedback from employees and candidates to identify areas for improvement and make necessary adjustments.

Conclusion

Embracing Pride Month in recruitment is not just about celebrations; it is about creating an inclusive work environment that values diversity and equality. By taking meaningful actions, such as reviewing job descriptions, fostering a safe interview process, establishing ERGs, providing training, partnering with LGBTQ+ organizations, and continuously improving practices, you can attract top talent, enhance creativity and decision-making, and build a positive brand reputation. Let us strive for workplaces where all individuals feel respected, supported, and empowered, not only during Pride Month but every day of the year.

What we can do for you

If you need professional guidance on your future career prospects get in touch with us.

STEM Recruitment Partners specialises in the placement of candidates from Science, Technology, Engineering & Mathematics backgrounds into Manufacturing, Life Science, Supply Chain & Engineering Businesses nationwide.

Our leading engineering and life science recruitment agency have offices based in Limerick & Cork, and we have excellent job openings all over Ireland. Check out some of our roles in our job portal.

Our goal is to become Ireland’s No.1 Recruitment Agency Specialising in the following areas

 

• Executive Search Recruitment
• Manufacturing and Engineering Recruitment
• Medical Device Recruitment
• Engineering to Senior Management Recruitment
• Construction Engineering Recruitment
• Supply Chain Recruitment
• Life Science Recruitment

Send your CV to info@stemrp.ie

www.stemrp.ie  061 – 540941

In a word “unlikely”, that’s according to Gabriel Makhlouf the Central Bank Governor. As fears around a recession grow due to global economic factors such as the war in Ukraine, inflation, and rising interest rates. The Central Bank Governor believes that its “unlikely” that Ireland will enter into a recession when responding to a reporter on the risk of the State falling into recession, as he presented the bank’s semi-annual Financial Stability Review (FSR).

At the Financial Stability Review (FSR) the Central Banks director of economics and statistics Mark Cassidy weighed in on the conversation stating that “it’d take quite a significant further negative shock” to force the Irish economy to contract even as the outlook has weakened.

Their comments come as reassurance as the memory of the last recession of 2008 is still fresh especially to those in the construction industry. However, the reassuring comments of Mark Cassidy the Central Banks director of economics and statistics and Gabriel Makhlouf the Central Bank Governor come from reading into statistics and facts.

Here are some of the facts and statistics why we believe that there won’t be a recession in 2022 or 2023.

‘Full’ Employment

In 2022 Irelands unemployment rate is at 4.7% which is where the country was in 2019 and at the start of 2020. This means as a nation Ireland is close to full employment. The last time Ireland’s unemployment rate fell below 4.7% was in November 2006.

Last month the CSO published figures that showed the number of people in employment is at 2.5 million. According to CSO Ireland has reached record levels of people in employment and has pushed “well beyond” the levels before the onset of the Covid-19 crisis.

Jobs Market

The website Indeed.com, carries more jobs than any other jobs website in Ireland.  One statistic that really jumps out at us is that there were 57% more jobs on the platform in May of this year compared to that of February 2020 (pre Covid-19)

Forecasted Growth

At the start of the year the economy had a strong start to 2022. There is no doubt that the war in Ukraine has had an impact on our growth, so the Central Bank of Ireland has amended the country’s growth expectations.  As a result, modified domestic demand growth has been revised down to 4.8% in 2022, 4.3% in 2023 and 3.9% in 2024. These are still strong growth projections and a long way off from recessionary projectons.

The Central Bank of Ireland forecasted exports to grow by 8.0% in 2022, 6.2% in 2023 and 6.0% in 2024. It is predicted that people will continue to spend as consumption is forecast to grow by 7.4% this year, slowing to 4.7% and 3.9% in 2023 and 2024.

The inflation rate is high at the moment as it is expected to average 6.5% this year, with wholesale energy prices the primary factor driving inflation at present. However, it is forecasted that inflation will slow to 2.8% in 2023 and 2.1% in 2024, however this is highly dependent on the fallout from the war in Ukraine.

Recession in 2023 unlikely but not impossible

In a worst-case scenario Ireland enters into a recession, our economic growth slows down along with our jobs market and spending slows down also. However, Ireland is far better equipped to deal with a recession than in 2008, here are some of the differences

The banks are heavily funded, no more 100% mortgages, a property crash like 2008 is highly unlikely as banks are well financed and demand is through the roof. Our government will continue to invest in the construction industry with multi-billion euro plans to improve Ireland’s housing system and deliver more homes of all types for people with different housing needs. To deliver this plan the government will be relying on construction engineers, site managers and trades people, even if we do dip into recession.

Data Centres Evolution

In 2019 it was reported that €4.5 billion will be invested in the creation of thirty four new data centres by 2025. According to Niall Molloy, CEO of Echelon

““Data centres are essential infrastructure – now, post-pandemic, more than ever. If we are to continue to benefit from low-cost, reliable and time-saving tech such as Zoom and Teams, if we’re to enjoy the speed of 5G, if we are to stream on demand and if we are to look forward to the future of AI and the IoT, then increasing data centre capacity is a given.”

Echelon is an Irish owned data centre infrastructure developer who recently received €855m in funding to complete four Irish data centres.

Renewable Industries

With a huge number of sanctions imposed on Russia (one of the largest oils suppliers in the world) the demand for renewable energy will soar. However, infrastructure for renewable energy such as wind, hydro and solar are not fully utilised in this country and presents a huge opportunity to develop this even further.

Ireland’s Climate Action Plan has ambitions to generate significant renewable energy production from wind resources in the coming years. A major focus of the plan will be to decarbonise the electricity system to 80% by 2030.

Ireland has also signed Climate Action and Low Carbon Development Act 2021 meaning Ireland is now on a legally binding path to net-zero emissions no later than 2050. It also means that more funding, resources, and jobs will be committed to this area as Ireland needs to reduce emissions by 51% by 2030.

Pharma & Medical Device Production

According to atradius Ireland stands out as the strongest performing market in the industry. It’s a relatively small country but accounts for more than 5% of global pharmaceuticals production. It surged to 25% growth in 2021 and will benefit from ongoing vaccine production demands.

This growth is expected to continue and the same can be said about the medical device industry as global annual sales forecast to rise over 5% by 2030 and reach US$800 billion according to KPMG . Ireland hosts significant players in this industry that supports many jobs, and this will come as welcome news to those in the industry.

What does this mean for Ireland’s STEM professionals?

If an “unlikely” recession happens engineers and scientists in manufacturing, construction, pharmaceuticals, and medical devices have some of the most secure professions in Ireland.

Engineers are in high demand right now and they will be in more of a demand in the coming years as government construction projects need to be completed, data centres need to be completed also. The demand for renewable infrastructure is growing at unprecedented levels and pharma and medical device production is growing at a rapid pace.

With this in mind we hope that we have put your mind at ease as there is a lot of commentary about a looming recession from “celebrity” economists. The fact is recession and economic booms are part of a developed economies economic cycle.

An economist stating that there is going to be a recession is similar to a weatherman stating that it’s going to rain. It will rain and recessions do happen however neither the weatherman nor the economists can tell you when it will happen with 100% degree of certainty.

Our Services

If you’re anxious about moving roles because of speculation about the economy or after reading this article you are energised and optimistic about your future career, get in touch with on of our team here in STEMRP.ie