In recent years, Ireland has positioned itself as a burgeoning hub for multinational companies, especially within the Pharmaceutical, Medical Devices, and IT sectors. Cities like Cork and Dublin have become prime locations for these companies' global operations. However, one significant challenge we've encountered in recruitment is the scarcity of multilingual candidates to fill the many excellent job opportunities available.

One primary factor contributing to this shortage is the high cost of living, particularly in terms of housing. According to a recent report by daft.ie, as of August 23rd, there's been a 20% decrease in available rental homes, combined with a national rental price surge of 11%—the highest increase in nearly a decade. In Cork, the average rent for a double room now stands at €433, while in Galway, it's €416. These escalating rental prices create barriers that deter potential candidates from relocating to Ireland.

As a recruiter, it can be incredibly frustrating to see job vacancies remain unfilled despite having highly qualified candidates eager to take on the roles. External factors such as housing costs play a significant role in hindering the recruitment of talented individuals.

At a recent NRF event, David Owens, Senior VP & Ops International of Solarwinds, highlighted the impact of the accommodation crisis on multinational companies. Some organizations have been compelled to explore unconventional solutions, such as remote work options or establishing hubs in regular homes as far west as Sneem in Co. Kerry. These measures enable candidates relocating from outside of Ireland to work remotely. However, remote work might not be suitable for everyone, as some employees may feel isolated without the social aspects of an office environment, while others may struggle with maintaining work-life balance.

One of the factors that make Ireland attractive to multinational companies is our highly skilled workforce. Yet, the shortage of multilingual candidates is a pressing issue. Despite the availability of 174 language degree courses in major institutions across Ireland, over 70% of Irish people cannot speak a second language. This is in stark contrast to less than half of the population in the rest of Europe. As the only English-speaking country in the Eurozone, Ireland finds English as the most widely spoken second language across Europe.

While it's encouraging to see positive developments in the job market in Ireland, it's disheartening to see opportunities left untapped due to a lack of suitable candidates. Expanding our language skills could significantly enhance Ireland's attractiveness as a destination for multinational companies and help fill the growing number of job vacancies.