Leading technology multinationals in Ireland have lost ground as employers of choice for third-level students across the country, while banking, manufacturing and pharmaceuticals are on the rise, according to research published today by leading employer branding specialists, Universum, part of IrishJobs.
The Most Attractive Employers Index, Ireland 2023, which was conducted among 8000+ students in Ireland across Business/Economics, IT, Engineering, Natural Sciences, Humanities, Law, and Medicine, reveals that top technology multinationals are waning slightly in popularity, as job losses and general uncertainty across the technology sector begin to have a knock-on impact on student preferences.
Business & Economics
Among Business & Economics students, interest in banking institutions is on the rise, with Bank of Ireland moving up one place into 12th position. Central Bank of Ireland has risen six places to come in at number 13 and Bank of America has risen seven places to come in at number 18.
Although Google and Apple remain in 1st and 2nd place, KPMG has also retained its 3rd place position, while PwC has moved up five places to take 4th spot. Ernst & Young and Goldman Sachs have each ascended two places to take 8th and 9th place respectively. Meanwhile, Amazon has fallen by four places to come in at number 11, while Facebook is down by 11 places, coming in at number 19.
Among Business & Economics students, interest in banking institutions is on the rise, with Bank of Ireland moving up one place into 12th position. Central Bank of Ireland has risen six places to come in at number 13 and Bank of America has risen seven places to come in at number 18.
Although Google and Apple remain in 1st and 2nd place, KPMG has also retained its 3rd place position, while PwC has moved up five places to take 4th spot. Ernst & Young and Goldman Sachs have each ascended two places to take 8th and 9th place respectively. Meanwhile, Amazon has fallen by four places to come in at number 11, while Facebook is down by 11 places, coming in at number 19.
Engineering
Among Engineering students, Intel keeps the number one spot, while pharmaceutical, manufacturing and construction companies have gained ground. Pfizer has moved up three spots to take 2nd place. Meanwhile, Boston Scientific and Jacobs Engineering have each moved up one place, taking 5th and 6th spot respectively. At the same time, Google has dropped from second place in last year’s Index to 3rd place in 2023 and Microsoft has dropped four places this year, coming in at number seven.
IT
Although technology multinationals still dominate the top 10 preferences of IT students, (Google, Apple and Microsoft take 1st, 2nd and 3rd place respectively) there has been some slippage, with Microsoft down one place on last year and Amazon also down one place, coming in at number five. Moreover, when it comes to the size of organisations where IT students want to work, large companies are down by 12% on last year, while small to medium-sized organisations are up by the same percentage.
Industry Insights
Commenting on the results, Steve Ward, UK and Ireland Business Director, Universum, said: “Every year, the Most Attractive Employers Index offers valuable insights into changing student preferences when it comes to their employer of choice, with these choices often reflecting wider macro-economic trends. Last year, with their reputation for innovation and also job security, global technology multinationals dominated the rankings. In 2023, however, it looks like headlines around job losses at major tech companies, many of whom have their European headquarters here in Ireland, have begun to impact on student preferences. For example, we’re seeing Business & Economics students return in greater numbers to their traditional homes in auditing and accounting. Banking institutions have also enjoyed a resurgence in popularity among this cohort.
“Tech multinationals have also lost some ground among Engineering students this year, while manufacturing, construction and pharmaceutical companies have all moved up the ranks. Meanwhile, although Google, Apple and Microsoft continue to be the top three employers for IT students, we are seeing some interesting movement towards SMEs, which suggests that smaller, local companies are playing a role in helping to pick up surplus digital talent.”
Natural Sciences
Pharmaceutical, biotech and manufacturing companies have done well among students of Natural Sciences in 2023, with Pfizer, Johnson & Johnson and Boston Scientific remaining in 1st, 2nd and 3rd place respectively. Meanwhile, Glanbia has moved up one spot to come in at 4th place and the Health Service Executive (HSE) has moved down one spot to come in at number 5.
Health & Medicine
The top three preferences among students and graduates of Health & Medicine are HSE, Pfizer and Vhi Healthcare, with Vhi Healthcare moving up one spot this year to third place.
Law
Among law students, A&L Goodbody, Arthur Cox and Matheson come in 1st, 2nd and 3rd place, with the latter two rising by one place each compared to 2022.
Humanities, Social Sciences, & Education
Humanities, Social Sciences & Education students are the same as last year, listing the Department of Education/Teaching, Google and RTÉ in 1st, 2nd and 3rd place respectively.
Greatest gains/New entrants
In terms of the greatest gains overall in 2023, Tesco has risen in popularity among IT and Natural Sciences students, rising 20 and 30 places respectively. Meanwhile, Adobe is up 27 places among Engineering students and 11 places among Business/Economics students. Penneys (Primark) also made large gains, rising 48 places among IT students and 14 places among Engineering students. New entrants to the Index this year include Tik Tok, Bus Éireann and Workday. Tik Tok is proving most popular among Humanities and IT students, Bus Éireann is faring better among Engineering and IT students and Workday is proving popular among IT and Business/Economics students.
The survey also points to the topics that recruiters should focus on in their advertising to students, with most respondents to the survey citing the importance of Training and Development Opportunities, Advancement Opportunities, Remuneration and Benefits and Diversity and Inclusion.
“Just last month, we saw unemployment in Ireland fall to an all-time record low of 3.8%, eclipsing the low achieved in the early 2000s”, Steve Ward continued. “This means that competition among recruiters has never been as high, which puts an onus on organisations to ensure their employer branding is attractive to Gen Z talent. According to a separate survey we carried out on the World’s Most Attractive Employers, 78% of the world’s most attractive companies see employer branding as one of the top priorities among their organisation’s talent management priorities. Graduates are the essential building blocks of tomorrow’s workforce, so it’s vital any talent strategy takes their views into account. With our Index revealing the areas Gen Z would like most employers to focus on, there’s never been a better time for companies to ensure their branding stands out so they can attract and retain sought-after graduate talent in a highly competitive hiring landscape.”