Prioritising Workforce Development to Build Irelands Economic Capacity
- Brendan McGinty
- Mar 21
- 3 min read
Stratis Consulting’s Managing Partner, Brendan McGinty, spoke yesterday at the Employment & Recruitment Federation's Annual Conference, TalentCon.
Brendan joined Jim Power (Economist, Podcaster & Blogger), Bettina Schaller (President WEC) and Senator Alison Comyn in a panel discussion. Here, we share Brendan’s insights from that discussion.
What do you think can be done to prioritise workforce development to build Irelands economic capacity considering all the challenges we have just heard about and how can the recruitment and staffing industry play its part?
Amidst the current and growing uncertainty and economic challenges, including the evident trade policy fragmentation between the US, Europe and others, Ireland must still concentrate on addressing critical obstacles that are within our power to address. These include tackling infrastructural deficits, the costs of doing business, and supporting businesses and workers in addressing the green and digital transitions. It was refreshing to hear the Taoiseach, on his recent visit to the US remind the US authorities that Ireland is the 7th largest FDI investor in the US which is bigger than India and China, with over 500 Irish Companies employing some 100, 000 people in the US.
Ireland must now concentrate on those aspects of policy it can control. As part of Budget 2025, Government agreed a total National Training Fund (NTF) funding package of almost €1.5bn over 6-years (2025-2030) for the tertiary sector. There was an investment of €77 million for the national apprenticeship system, and it is hoped that craft apprenticeships will grow to 6,800 registrations in 2025. These are all important investments, but it is even more critical, that additional support for training under the National Training Fund (NTF) for employers is made available as part of a renewed Further Education and Training (FET) strategy for Ireland to boost economic capacity. Considering the emerging and complex challenges on the horizon, a significant increase in funding is needed to support:
The rapid scaling up of workforce development to the maximum possible extent.
To enhance the potential for SMEs to develop their people and enhance their innovation and strategic capability.
A strategic approach to rapidly accelerating lifelong learning and upskilling to meet changing supply chain complexity, and broader demands in the digital and green economy age for existing and new businesses including the potential effects of AI on employment as well as generating new employment opportunities as part of the Just Transition.
Address barriers to AI adoption which for many businesses include limited access to AI expertise, high costs, and uncertainty around implementation. Only about 10% of SMEs have an AI strategy and the need for AI competencies is accelerating. SMEs can become ambassadors for digital upskilling but need support to equip their workforce with AI skills to harness the potential of data-driven decision-making and automation whilst developing their digital resilience in the face of growing cybersecurity risks. For Ireland and for each of our businesses, strategic investment in reskilling and upskilling is critical. There is a huge opportunity for Ireland to lead the way on AI adoption by SMEs and for the recruitment & staffing industry, who are at the nexus of the employment relationship between workers and employers to be a significant influence as strategic partners and advisors on skills and talent development by workers and businesses.
In the ‘intelligence’ age, jobs are increasingly defined by skills and tasks, rather than by roles, titles or even location. Now more than ever, skills are the new currency amidst global competition for talent and Ireland in competing for investment, simply must prioritise and accelerate our workforce planning and strategic development of skills to meet current needs and to sustain future economic success.”
If you would like to talk about any of the above issues, please get in touch with any of our Partners.
Brendan McGinty | Managing Partner
Stratis Consulting
‘Strategic Employment Relations’
M: +353 (0) 87 2433038
W: www.stratis.ie Twitter: @Stratisconsult LinkedIn: Follow us here
Disclaimer: The information in this article is for general guidance only and does not constitute legal or specific case advice. The answers to specific situations will vary depending on the circumstances of each case. This is not a substitute for specific professional advice relevant to individual circumstances facing your business.
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