The future is bright but challenging – Ireland’s engineering and construction industry is projected to experience a significant expansion of 10.6% in 2023 however output levels in real terms are not expected to surpass 2019 levels until 2023. Further growth in the coming quarters will be dampened by the challenges of talent attraction,  materials and energy prices, along with supply chain disruptions exacerbated by the Russia-Ukraine conflict.

The positivity around industry expansion over the coming years is expected to be supported by further Foreign Direct Investment in the Life Sciences, Advanced Manufacturing and Data Centre sectors. Ireland remains one of Europe’s Top 10 locations with 152 projects in 2022 (EY European Investment Monitor) and attracts the highest number of projects per capita in Europe. Eighteen of the world’s top 20 pharmaceutical companies and 15 of the world’s top 25 MedTech companies are located in Ireland, alongside hundreds of home-grown businesses in a developed ecosystem. Employment in the sector is distributed across clusters around Dublin as well as Cork, Waterford, and Limerick.

Further investments in energy, transport, and residential projects will be made through the planned €165bn spend in infrastructure through the National Development Plan (NDP) 2021-30, which includes €35bn on transport infrastructure, of which €12bn will be on public transport, €13bn on maintenance, €6bn on road infrastructure, and €4bn on walking and cycling infrastructure. The government has also set plans to invest €16bn in energy projects and €7.2bn-€12.5bn to deliver 2.5GW of grid-scale solar, 8GW of onshore wind, and 5GW of offshore wind under the Renewable Electricity Support Scheme (RESS).

In 2023 and beyond, several key approaches will be required of business leaders to improve their talent attraction, retention and workforce development:

Providing Opportunities for Growth and Development

Training programs, mentorship initiatives, and clear career advancement paths. Particularly investment in development of staff within technology such as Building Information Modelling (BIM) or Virtual Design Construction (VDC) tools to streamline project management processes and improving collaboration

Fostering a Positive Company Culture

A positive company culture that values diversity, equity, and inclusion can help attract top talent while also improving employee retention. Business leaders can foster this type of culture by promoting open communication, encouraging collaboration, recognising employee achievements, and promoting Corporate Social Responsibility (CSR)

Understand Competitors Compensation & Benefits Packages

To attract and retain top talent, be aware of competitor and market offerings. Consider the inclusion of non-monetary reward systems such as time to get involved in the community, educational days, prizes for top performers, wellbeing days, mentorship programmes.

Implement Flexible Work Arrangements

This is the single biggest influence we see on candidates choosing one company to another. If remote work is not a possibility, consider flexible schedules with core team hours. This will improve work-life balance for employees and in turn increase job satisfaction and retention.

As the engineering and construction industry in Ireland looks towards projected expansion in the next 5 years, and while global challenges will persist, business leaders can position their organisation to capitalise by implementing a robust, proactive and innovative talent strategy.