21% increase in Invoice Finance funds advanced to large Irish businesses during Q2 2016

ABFA

Latest statistics from the Asset Based Finance Association

 

  • €138m advanced to companies with turnover of between €10m and €25m in Q2 2016, compared to €114m in Q1 2016 – a growth of 21%

 

  • Sales turnover generated by Irish companies using Invoice Finance grew 30% between Q1 and Q2 2016

 

  • Brexit concerns may encourage Irish businesses to diversify credit sources

 

Companies registering a turnover of between €10m and €25m increased their borrowing through Invoice Finance by 21% during the second quarter of 2016, according to new figures from the Asset Based Finance Association (ABFA), the body representing the Invoice Finance industry in the UK and Ireland.

These larger companies were advanced €138m during Q2 2016, up from €114m on the previous quarter, a growth of 21%, making it the fastest growing size of company in Ireland that utilised Invoice Finance during the period. Even companies with a turnover of over €100m showed a similar trend for Invoice Finance, with €206m in funds advanced, up 6.7% from €193m in the previous quarter.

Invoice Finance is a quick and flexible working capital solution that allows businesses to release the working capital tied up in unpaid invoices. The finance provider will normally purchase the client’s outstanding invoices, providing an immediate initial payment of the majority of the invoice, with the remainder paid to the client on payment by the debtor. As large businesses have so much capital tied up in invoices issued to a wide range of customers, they are ideal for clients for Invoice Finance providers.

The full breakdown of funds advanced for the Q2 of 2016 is below:

Client Annual

Turnover Bands (€M)      Amount Advanced     Q2 2016(€M)     Q1 2016

0.0– 0.5                                                                                  92                             92

0.5 – 1.0                                                                                  50                            66

1.0 – 5.0                                                                                  309                          302

5.0 – 10.0                                                                               189                           171

10.0 – 25.0                                                                             138                           114

25.0 – 50.0                                                                              158                           163

50.0 – 100.0                                                                           110                           107

Over 100.0                                                                              206                          193

 

An average of €1.2bn in Invoice Finance is in use by nearly 2,000 Irish companies at any one time while the total funds agreed reached €3.1bn. This means that there is plenty of funding available for businesses that wish to grow.

Irish companies utilising Invoice Finance saw a significant 30% growth in quarterly sales, growing from €5.6bn in Q1 2016 to €7.4bn in Q2 2016. Year to date sales turnover to June 2016 reached €13.1bn, up 3% on the same period in 2015. This growth in the Irish marketplace demonstrates just how much Invoice Finance can support business during the ongoing economic recovery and support business growth.

The statistics also note that a variety of sectors in Ireland utilise Invoice Finance, including Manufacturing, Construction, Distribution, Services, Transport, and Retail, illustrating the diversity in the types of businesses being supported by Invoice Finance.

Margaret Carrigan, Chairperson of the ABFA Marketing Committee in Ireland, says Invoice Finance is now a truly mainstream finance choice, and one used by a huge number of growing businesses as part of a balanced approach to their funding.

“Invoice Finance is now an established part of the commercial finance market and these figures show that there is an increased appetite from larger Irish businesses to secure funding through this route. More and more Irish companies are now viewing Invoice Finance as one of the primary sources of funding, especially as these businesses seek to diversify their funding sources away from and to prevent over reliance on traditional loans. Continued concerns over a Brexit-related credit crunch in the UK may also increase the need to diversify credit sources still further.

“Whilst the availability of finance from traditional sources was relatively slow to recover from the credit crunch, the Invoice Finance market opened its doors to businesses of all sizes and there remains significant capacity to provide more finance to more Irish businesses.

As the funding is secured against invoices and other assets, it can be a less risky form of finance for funders to provide. This means big businesses can get even quicker decisions on asset based finance than on other products. This ability to increase the size of your Invoice Finance facility as your business grows is one of the products biggest strengths.”

 

Full statistical details for Ireland and the UK, along with historical data, is available at:

http://www.abfa.ie/members/statistics.asp

 

The Irish Members of the ABFA are:

 

  • AIB Commercial Finance Ltd.
  • Bank of Ireland Commercial Finance
  • Barclays Bank Invoice Finance
  • Bibby Financial Services (Ireland)
  • Close Brothers Commercial Finance
  • Danske Bank A/S
  • Ulster Bank Invoice Finance

 

Small charities making a big IMPACT to Irish health at GSK Awards

GSK

Small charities making a big IMPACT to Irish health:  Five winners announced of GSK Ireland IMPACT Awards 2016

  • Five winning community-based charities each awarded €10,000 and attend inaugural screening of their winning films at award ceremony in Dublin Castle
  • Awards focused on recognising and celebrating small Irish community-based health charities

 

Nurture, Traveller Counselling Service, Dyslexia Association of Ireland, Sensational Kids, and Anam Cara have all been announced as the winners of the GSK Ireland IMPACT Awards 2016, during a ceremony at the Chester Beatty Library in Dublin Castle. The five award winning charities were each awarded €10,000 in unrestricted funding, while five runner-up charities also received €2,000 each. In addition, the winning charities received a video and photography package to promote their charities and services.

The awards, in their second year in Ireland, are designed to recognise and reward community-based charities who contribute to the improvement of people’s health and wellbeing, as well as acknowledge the positive outcomes these charities have on their users and local communities. This year’s winners represent an inspirational mix of healthcare heroes making a real difference to the lives of their communities right across Ireland.  The IMPACT awards are judged across a number of criteria including innovation, management and partnership which looks to reward how the charities are run and what they are actually achieving: This year’s winners demonstrated excellence across the criteria during the fiercely competitive application process.

The five winning charities of the GSK Ireland IMPACT Awards 2016 are:

  • Nurture – a nationwide charity which provides professional counselling and supports surrounding pregnancy and childbirth and maternal mental health illnesses to women, partners and their families.
  • Sensational Kids – a Kildare based charity that provides family centred therapy and educational services for children of all abilities in a state of the art occupational therapy centre.
  • Anam Cara – a nationwide charity which provides support services to bereaved parents and families.
  • Dyslexia Association of Ireland – a nationwide organisation which works with and for people affected by dyslexia, by providing information, offering appropriate support services, engaging in advocacy and raising awareness of dyslexia.
  • Traveller Counselling Service – an independent, culturally appropriate counselling service for Travellers in the Greater Dublin Area

Roger Connor, President, Global Manufacturing & Supply (GMS) at GSK said:  “GSK is extremely proud to support these healthcare charities, very often unsung heroes, who are contributing so much to health in their communities. To really make an impact, charities need purpose with passion coupled with strong management and governance, which can be very challenging, particularly with tight resources. This year’s winners show this is possible and we have been impressed, inspired and moved by our winners and the huge contribution they are making to Irish health”.

Five runners-up were:

  • Amen Support Services – a nationwide voluntary group providing a confidential helpline, support service, and information for male victims of domestic abuse.
  • Cork Mental Health Foundation – promotes positive mental health within the community and provides social housing to those who have experienced mental health difficulties.
  • Smashing Times Theatre Company – a professional theatre company that has designed an arts based approach to positive mental health promotion and suicide prevention.
  • HIV Ireland – a nationwide charity which works to improve conditions for people living with HIV and AIDS, their families and their caregivers, while actively promoting HIV and sexual health awareness in the general population.
  • Move4Parkinson’s – a non-profit organisation whose aim is to help people with Parkinson’s achieve a better quality of life through education and empowerment.

CEO of The Wheel, Deirdre Garvey and judging panel member commented: ““Community-based healthcare charities are uniquely positioned to help communities experiencing disadvantage and poor health outcomes identify the issues that influence their well-being and to develop and implement solutions. The GSK IMPACT Awards provide much-needed support and recognition for these organisations”.

The Impact Awards 2016 were judged by a multidisciplinary panel of professionals which included: Judging chair, Roger Connor, GSK, Aidan Lynch, VP GSK Pharma, Joe Power, VP and Site Director Cork, Claire Taaffe, Communications Director, GSK; Katie Pinnock, Director UK and Ireland Charity Partnerships.; Barry Andrews, CEO Goal, Deirdre Garvey, CEO of the Wheel, Sunday Independent Business Editor, Samantha McCaughren and Maurice Pratt, Chair of Barretstown.

 

UCC is named Sunday Times University of the year – again

Sunday Times

University College Cork (UCC) has been named The Sunday Times University of the Year for the second successive year and the fifth time overall, with Trinity College Dublin as the runner-up in The Sunday Times Good University Guide 2017, a special 16-page supplement to be published free with The Sunday Times this Sunday, October 9, with extended coverage in its tablet and online editions.

Dublin Institute of Technology is named The Sunday Times Institute of Technology of the Year, with Athlone IT the runner-up. The guide contains Ireland’s only league table that measures the performance of all 21 multi-faculty third-level institutions, which will be published on Sunday.

UCC is the University of the Year for the fifth time in the history of the guide, which was first published in 2002. UCC follows up its triumphs in 2003, 2005, 2011 and 2015. It is the only time in 15 years of the award that a university has successfully defended its crown.

 

The university’s success is underpinned by making teaching as much of a priority as research. So while UCC has seen a 15% growth in research funding over the past five years generating the second highest amount of research income in Ireland per head of academic staff (around €128,000), the university also has the highest number of academic staff (70%) with a qualification in teaching and learning.

 

UCC president Michael Murphy told The Sunday Times: “Today, anyone who is appointed to UCC who doesn’t have certification [to teach] has to undergo training before being considered for permanency. You must have a driver’s licence to drive; likewise to teach.” The university is the first in Ireland to develop an online programme in teaching and learning for staff in higher education.

 

The university ranks second or third in Ireland on all measures in The Sunday Times university league table, with the exception of staffing levels. It has seen improvements in its rankings in the past year both for the low level of graduate unemployment, currently standing at around 4%, and for the proportion of students leaving with high class degrees – firsts or 2:1s – a feat achieved by 70% of students, benefiting from that high quality teaching.

 

UCC has the third best progression rate from first to second year of all higher education institutions nationally — just 10% drop out. It also has a high proportion of students from disadvantaged backgrounds — 22%.

 

And only Trinity College Dublin and University College Dublin spend more per capita on its students than UCC, with €10,605 a year spent on services and facilities for each student, according to the latest data in The Sunday Times Good University Guide.

Alastair McCall, Editor of The Sunday Times Good University Guide, said: “UCC has enjoyed unparalleled success in our annual University of the Year award: a winner on five occasions and now the first to win the award in two successive years.

“It is not hard to see why. The institution prioritises teaching excellence alongside an undoubted research pedigree. At UCC, teaching and research excellence are not either/or options. Students benefit from this on a daily basis, enjoying high-class teaching, graduating with high-class degrees and going on to get excellent jobs, the name of their university standing them in excellent stead with prospective employers

“We were also impressed by the efforts the university has taken to reduce the level of student debt – working with the student body to tackle the problem rather than resorting to the use of debt collection agencies to recover outstanding fees. This social conscience reflects well on an institution that seeks to precipitate change in the world by making such a positive impact through third level education.”

Trinity College Dublin is the runner-up for the University of the Year award. It finishes top in four of the seven measures used by The Sunday Times Good University Guide to rank Ireland’s universities and institutes of technology.

 

It now has the highest research income per head of academic staff, generating just under €140,000 per head, and the best student progression rate of 93% between the first and second year of study. This is in addition to its students entering the university with the highest points total from their Leaving Certificates and the university spending the highest amount of any university on facilities per head of student population.

 

According to an assessment by a private equity group, Trinity has produced more entrepreneurs than any other university in Europe over the past five years. The Universities Report found that TCD produced 114 entrepreneurs and 106 companies, raising €575.7m in capital between 2010 and 2015.

 

The university also has one of the most successful access schemes, the Trinity Access Programme (TAP), which has been running for 17 years and provides an on-campus foundation year for around 125 students annually, who come from disadvantaged backgrounds. A pilot scheme modelled on the TAP is currently being trialled at the University of Oxford’s Lady Margaret Hall.

Dublin Institute of Technology (DIT), The Sunday Times Institute of Technology of the Year, has risen to the highest ranking ever achieved by an institute of technology in The Sunday Times Good University Guide league table. Ranking seventh this year, it has become the first institute of technology to overtake one of Ireland’s seven universities in the definitive rankings for third level performance.

DIT’s success has been achieved in part through a sharp rise in the number of Leaving Certificate points held by its students on entry to the institution. DIT now ranks fifth in Ireland on this measure, an indication of both the increased academic standards being demanded and extra competition for places.

Savvy partnerships with key industrial players have resulted in sponsorship and programme development at the institution. Students are performing strongly with 68.3% gaining firsts or 2:1s, ranking DIT in the top five in Ireland on this measure, while the graduate unemployment rate is low at 4.7%.

McCall said: “DIT has upset the established order in third level education this year by beating a university in our rankings for the first time in our 15 years of publication.

“It shows the strength of the leading institutes of technology and the key role they play in delivering a top-class education to students.

“Recent developments on the Grangegorman campus make DIT one of the most exciting places to study right now and our award recognises the huge efforts being made to deliver an outstanding student experience with excellent graduate prospects to one of the biggest student populations in Ireland.”

Athlone IT is runner up as Institute of Technology of the Year this year, having risen one place to rank 10th in the new Sunday Times Good University Guide league table. It is one of several institutes of education to be making a bid for Technological University (TU) status, but is making the case for a standalone TU in the Midlands, without going down the partnership route favoured by other institutes of technology.

A reflection of its high academic standing, AIT has been granted the authority to award PhDs in software engineering and network communications this year, in addition to the current areas of polymer engineering, microbiology and toxicology.

 

Government departments are increasingly looking to AIT to develop and boost jobs in the Midlands, and also to improve production outputs. This year, the department of agriculture, food and marine is funding a project run by AIT and NUI Galway to upgrade management and efficiency at inland aquaculture sites.

 

 

The Sunday Times Good University Guide is now in its 15th year of publication. It provides the definitive rankings for Irish third-level institutions, together with profiles of each institution and a view from students of what it is like to study there. It also contains the first full listing of 2017 degree courses and the first round entry points needed to access these courses from the recently-completed 2016 admissions cycle. There is a tablet edition, plus extended online coverage at www.thesundaytimes.ie/gooduniversityguide features fully searchable tables on each of the measures on which institutions are ranked, together with extended profiles of each. It also contains full access to the newspaper’s UK university guide published on September 25.

Jilly Cooper to be honoured at this year’s BGE Irish Book Awards ceremony

BGE IBA 2016

Best-selling novelist Jilly Cooper to be honoured with the ‘Bord Gáis Energy International Recognition Award’ at this year’s Irish Book Awards ceremony

Best-selling novelist Jilly Cooper will be honoured at this year’s Bord Gáis Energy Irish Book Awards ceremony with the 2016 ‘Bord Gáis Energy International Recognition Award’. She will be presented with the award on Wednesday, 16th  November in the presence of a host of celebrated Irish authors representing the very best of Irish fiction, poetry, crime, sport, food, children’s and non-fiction genres.

Now in its third year, the ‘Bord Gáis Energy International Recognition Award’ aims to honour international writers who, in the view of the Bord Gáis Energy Irish Book Awards board, have contributed substantially to the health and wealth of the Irish book-trade. Recipients will have a large corpus of popular work behind them; will have sales figures counted in millions; will have demonstrated staying power and longevity; and will have endeared themselves to Irish booksellers throughout their careers Past recipients of the award have been novelist Jeffrey Archer and writer Bill Bryson.

Accepting the award, Jilly Cooper, said:

“This is the most heavenly compliment I’ve ever received. I’ve always adored Ireland and love so many Irish writers, I cannot believe the Bord Gáis Energy Irish Book Awards have singled me out for this honour. I love any excuse to come back to Dublin and the ceremony sounds like a fantastic party. Absolutely wonderful”

According to the Board of the Bord Gáis Energy Irish Book Awards:

“Jilly Cooper is one of the most prolific and popular writers of our time. Her deliciously risqué tales have delighted Irish readers for over 30 years which is an astonishing achievement for any writer. She is an exceptional writer who has worked incredibly hard to stay at the top of her game and we are extremely happy to award Jilly the 2016 ‘Bord Gáis Energy International Recognition Award’.”

Jilly Cooper is a UK journalist, writer and media superstar. The author of more than 40 bestselling books, her novels have been translated into over 14 languages and sold in their millions.

Born in London in 1937, Jilly began her career a journalist and wrote popular columns for the Mail on Sunday and The Sunday Times. This led to the publication of her first book, How to Stay Married, in 1969. It was quickly followed by a guide to working life, How to Survive from Nine to Five, in 1970. Her columns were successful enough to merit some of her journalism being collected into a single volume, Jolly Super, in 1971.

Her first big novel, Riders was published in 1985 and went straight to number one in the bestseller lists, as did Rivals published in 1988. Polo, which was published in 1991, was the highest selling hardback novel of the year. The Man Who Made Husbands Jealous, which was published in April of 1993 went straight into the number one position too and remained there for eight weeks. All of these books have sold well over 1 million copies each in their UK editions.

Other novels by Jilly Cooper include: Appasionata, Score!, Pandora and most recently Mount! which was published in September 2016. She is published by Bantam Press which is an imprint of Penguin Random House.

Jilly was appointed OBE in 2004 for services to literature, and in 2009 was awarded an honorary Doctorate of Letters by the University of Gloucestershire for her contribution to literature and services to the County.

This is the eleventh year of the Bord Gáis Energy Irish Book Awards, which are dedicated to honouring Irish writers across the entire publishing spectrum. The 2016 shortlist will be revealed on Tuesday, 25th of October and the awards ceremony will be held on Wednesday, 16th November.

RTÉ Television will be broadcasting the highlights of the Bord Gáis Energy Irish Book Awards on RTÉ One on Saturday 19 November. This programme will showcase one of the biggest celebrations of Irish writing with many of Ireland’s most celebrated and loved authors in attendance.

 

For further information, please log on to the Bord Gáis Energy Irish Book Awards website

www.bgeirishbookawards.ie

 

Advertising Standards Authority for Ireland release latest Complaints Bulletin

– 16 advertisements found to be in breach of the ASAI Code on grounds relating to Misleading Advertising and Health & Beauty

28 Sept 2016 – The Advertising Standards Authority for Ireland’s (ASAI) independent Complaints Committee has released its latest Complaints Bulletin which contains 22 case reports on complaints recently investigated by the ASAI.

16 advertisements were found to have been in breach of the ASAI Code on grounds relating to Misleading Advertising, Substantiation, Decency & Propriety, Promotional Marketing and Health & Beauty. The advertisements complained of related to the internet, brochure, television, social media, print and radio.

4 of the upheld advertisements complained about related to complaints from Intra Industry / Interested Parties while the ASAI Complaints Committee also chose not to uphold four consumer complaints and one intra-industry complaint.

The Complaints Committee is a completely independent arm of the ASAI and is responsible for considering and dealing with complaints submitted by the public, by a member of the ASAI, by a Government Department or any other person or body of persons. The Committee is made up of a range of experts from the advertising, media, education, consumer and marketing sectors. See further details here – http://www.asai.ie/about-us/complaints-committee.

Commenting on the latest ASAI rulings, Orla Twomey, Chief Executive of the ASAI, stated:

“The latest ASAI complaints bulletin shows the broad remit of the ASAI in dealing with complaints across all media from Social Media and Internet to more traditional methods such as press, radio and Television. The updated ASAI Code of Standards for Advertising and Marketing Communications in Ireland came into effect earlier this year, to ensure that the Code will remain, at all times, credible and relevant. In updating the Code, the ASAI have been able to address emerging advertising trends such as the growth of social media and its various platforms. Furthermore, the ASAI has extended its monitoring service to be inclusive of the blogging community and is directly engaging with bloggers in relation to the disclosure of content, ensuring all marketing communications are easily recognisable.

The ASAI approach is to work with advertisers and the advertising industry, including bloggers, rather than against them to ultimately ensure that all marketing communications are truthful, decent and honest. The ASAI provide a free and confidential copy advice service to advertisers, agencies and media members to help them create responsible ads. If an advertiser has any concerns about a marketing communications’ compliance with the ASAI’s Code, they can contact us and avail of the free and confidential copy advice service.”

Below is a list of complaints which have been found to be in breach of the ASAI Code:

Company/Organisation Complaint Category Further Details
Therapie Clinic Misleading
(7th Edition) The Complaints Committee considered the details of the complaint and expressed their concern at the advertisers’ failure to respond in the matter.
Complaint Upheld

Lidl Ireland GmbH Misleading
(7th Edition) The Complaints Committee noted that the advertisers had provided an inaccurate description of the product
Complaint Upheld

Interflora Misleading
(7th Edition) The Complaints Committee considered that a disclaimer should have been stated in the advertisement.
Complaint Upheld

eir Misleading
(6th Edition) The complainant found the advertisement to be misleading
Complaint Upheld

BetBright Misleading
(7th Edition) The Complaints Committee considered the description “Risk Free” to be misleading
Complaint Upheld

Valero Marketing Ireland Ltd (Texoil) Misleading
(7th Edition) The complainant found the advertisement to be misleading
Complaint Upheld

Virgin Media Misleading
(6th Edition) The complainant found the advertisement to be misleading
Complaint Upheld

Vodafone Ireland Limited Decency and Propriety
(7th Edition) The Committee considered the advert to be irresponsible and in breach of the ASAI Code
Complaint Upheld

Plexus Bio-Energy Health & Beauty
(6th Edition) The Complaints Committee considered that relevant substantiation had not been forwarded
Complaint Upheld

Detox Juice Health & Beauty
(6th Edition) The Committee noted that a weight loss of 8lbs in three days was not compatible with good medical or nutritional practice and considered therefore that the marketing communication breached the ASAI Code
Complaint Upheld

Omega Pharmacy Ltd. (XLS Medical) Slimming
(6th Edition) The complainant considered that the models were young girls and both were very thin.
Complaint Upheld

Miss Fit Skinny Tea Slimming
(7th Edition) Complaint upheld in part. They noted that the advertisers had not provided any evidence for the effectiveness of the product
Complaint Upheld

The ASAI upheld complaints made by Intra Industry / Interested Parties in the following cases:

Company/Organisation Complaint Category Further Details
Thesis Direct Misleading/Comparisons
(6th Edition) The Committee considered that the savings claim exaggerated the benefit that consumers were likely to achieve Complaint Upheld

Vodafone Ireland Limited Misleading
(6th Edition)
The complainant found the advertisement to be misleading
Complaint Upheld

Vodafone Ireland Limited Misleading
(7th Edition) The complainant found the advertisement to be misleading
Complaint Upheld

Virgin Media Misleading
(6th Edition) The complainant found the advertisement to be misleading
Complaint Upheld

The following complaint was investigated and following investigation, the ASAI Complaints Committee did not uphold the complaint.
Company/Organisation Complaint Category Further Details
Sky Ireland Safety
(7th Edition)

Complaint Not upheld

Sherry Fitzgerald Misleading
(6th Edition)

Complaint Not upheld

Lidl Ireland GmbH Misleading
(7th Edition
Complaint Not upheld

VHI Misleading
(6th Edition)
Complaint Not upheld

Prettylittlething.com Decency & Propriety
(6th Edition)
Complaint Not upheld

Intra-industry complaints not upheld by the ASAI

Company/Organisation Complaint Category Further Details
Vodafone Ireland Limited Misleading
(7th Edition)
Complaint Not Upheld

The ASAI’s updated Code of Standards for Advertising and Marketing in Ireland (7th edition) came into effect on the 1st March 2016. The updated Code is the result of a comprehensive review undertaken by the ASAI which involved a significant public consultation process with a wide range of Government departments and agencies; consultations with consumer groups and other NGOs; and consultation with the advertising industry including advertisers, agencies and the media.

The ASAI Monitoring Service monitors compliance with the Complaints Committee’s adjudications. Media members are reminded that advertisements found to be in breach of the Code cannot be accepted for publication.

www.asai.ie

Or follow the ASAI on Twitter @THE_ASAI

Irish employers reporting strongest hiring intentions since 2007

Manpower

Latest Manpower Employment Outlook Survey shows:

  • Net Employment Outlook of +12% for Q4 of 2016 is strongest Irish labour market forecast reported since Q2 2007
  • Employers in both the Restaurant and Hotels sector and the Electricity, Gas and Water sector report strongest Net Employment Outlook for Q4 2016 (+22%)
  • Employers in ten of eleven sectors evaluated report positive hiring intentions for the next quarter, with those in five sectors reporting a double digit Net Employment Outlooks
  • Employers in Ulster report strongest hiring forecast regionally

 

Irish employers are reporting the strongest labour market forecast recorded in Ireland since 2007, according to the latest Manpower Employment Outlook Survey released today by ManpowerGroup Ireland, the leader in contingent and permanent innovative workforce solutions.

The survey, which measures employers’ intentions to increase or decrease the number of employees in their workforce during the next quarter, shows that Irish employers are reporting a seasonally adjusted Net Employment Outlook of +12% for the fourth quarter of 2016. This is a three percentage point improvement over the last quarter and seven percentage points ahead of the same time frame last year. This Net Employment Outlook of +12% is the strongest reported in Ireland since Q2 of 2007.

In addition, employers in ten of the eleven sectors evaluated reported positive hiring intentions for Q4 of 2016, with five sectors reporting a double digit Net Employment Outlook figure.

The Manpower Employment Outlook Survey is conducted by interviewing a representative sample of 620 Irish employers. All survey participants were asked: “How do you anticipate total employment at your location to change in the three months to the end of the year 2016 as compared to the current quarter?”

The survey reveals that employers in the Restaurant & Hotels sector and the Electricity, Gas and Water sector are both forecasting the strongest hiring intentions of all 11 sectors for the final quarter of 2016 with a Net Employment Outlook of +22% each. Employers in the Restaurant & Hotels sector are also reporting the strongest year on year growth of all 11 sectors, with a sharp year on year increase of 26 percentage points when compared with the same period last year.

The Electricity, Gas and Water sector recorded a year on year increase of 12 percentage points for Q4 2016, representing the second strongest year on year increase this quarter. This was matched by the Wholesale & Retail sector with employers also reporting a 12 percentage point increase with a Net Employment Outlook of +15% for the final quarter in 2016.

In terms of quarter on quarter growth, employers in the Agriculture, Forestry and Fishing and Restaurants and Hotels sectors are forecasting the strongest improvement among the 11 sectors surveyed, with both outlooks improving 5 percentage points on the previous quarter.

Regionally, employers in Ulster are reporting the strongest hiring intentions of all provinces polled, with an outlook of +20%, as employers expect a significant injection of employment opportunities in the final quarter of 2016. Employers in Connaught recorded the only negative hiring intentions with an outlook of – 2%.

John Galvin, Head of Sales with ManpowerGroup Ireland, says:

“The results of the Manpower Employment Outlook Survey for Q4 2016 show consistent employer confidence in the Irish marketplace with positive hiring intentions in ten of the eleven sectors evaluated. Brexit has been a contentious issue for many employers in Ireland but the Q4 survey suggests that employers in most sectors, despite the uncertainty surrounding Britain’s exit from the EU, are still planning to up recruitment levels in the remaining quarter of 2016.”

“Recent growth in the Restaurant & Hotels sector is supported by the MEOS Q4 results, indicating an extremely active hiring pace for the remainder of the year. This is supported by a number of factors such as the fact that Dublin Airport saw its busiest ever month this July as more people travel to Ireland. Fáilte Ireland also recently announced increased attendance of an average of 20% at The Guinness Storehouse and the National Gallery, indicating that more and more people are travelling to our world renowned tourist resorts. The knock on effect is an increase in the number of people staying in our hotels and eating in our restaurants, resulting in further recruitment in this sector. The Finance and Business Services sector was the only sector featuring negative hiring intentions this quarter, as employers remain cautious in the wake of Brexit.”

Below is an outline of the key findings from the Manpower Employment Outlook Survey:

  • Ten of the 11 sectors evaluated reported positive hiring intentions for Q4 of 2016, with five sectors reporting a double digit Net Employment Outlook.
  • The Electricity, Gas and Water and Restaurant & Hotels sectors both forecast the joint strongest hiring intentions of all 11 sectors evaluated as both record Net Employment Outlook of +22% for the rest of 2016.
  • The Restaurant & Hotels sector also represents the strongest year on year growth, registering a 26 percentage point increase on the same period last year. This is also a 5 percentage point increase on the previous quarter, making it the first time the sector has seen four consecutive quarters of positive quarter on quarter growth.
  • Employers in the Wholesale & Retail sector registered the third strongest outlook of +15%. This is up 12 percentage points on the same period last year and 3 percentage points on the previous quarter.
  • Employers in the Public & Social sector registered the next strongest outlook, reporting a +14% Net Employment Outlook for Q4 2016. This is an 11 percentage point increase on the same period last year and a further 3 percentage point increase on the previous quarter.
  • Employers in the Pharmaceutical sector also report a positive outlook of +11% points for Q4 2016, representing no increase on the previous quarter but a 2 percentage point increase when compared with the same quarter last year. 
  • Manufacturing sector employers are reporting a Net Employment Outlook of +8% for the final quarter of 2016. This is an 8 percentage point increase on the same period last year, and up one percentage point on the previous quarter.
  • Agriculture, Forestry and Fishing sector employers are also reporting a +7% Net Employment Outlook, a 5 percentage point increase on the previous quarter. However, this represents no change when compared with same period last year.
  • Year on year growth in the Construction sector was also up 11 percentage points as employers forecast a +8% Net Employment Outlook for the remaining quarter of 2016. Mining & Quarrying employers are also reporting a Net Employment Outlook of +8%, up 1 percentage point when compared with the same period last year, but down 3 percentage points on the previous quarter.
  • Employers in the Transport Storage and Communications sector are reporting a +6% Net Employment Outlook for the final quarter of 2016. This represents a 6 percentage point decrease on the previous year as recruitment in the sector slows down. It is also down 6 percentage points on the previous quarter.
  • Employers in the Finance and Business Services sector were the only ones to predict negative hiring intentions for Q4 2016, with a Net Employment Outlook of -1%. This is down 11 percentage points year on year and down 6 percentage points on the previous quarter.
  • Employers in Ulster are reporting the strongest hiring intentions of all the 4 provinces polled, with an outlook of +20%, up a substantial 21 percentage points on the previous quarter and 9 percentage points on the same quarter last year.
  • Employers in Leinster continue to anticipate very positive growth, with an outlook of +13%, up 4 percentage points for the previous quarter and up 12 percentage points on the same period last year.
  • Employers in Munster also report an outlook of +9%, the same as the previous quarter but up 3 percentage points on the same period last year.
  • The hiring pace in Connaught is expected to slow for the second consecutive quarter, with a Net Employment outlook of – 2%. This is down 9 percentage points on the previous quarter and also down 9 percentage points on the same period last year.
  • Employers in Dublin recorded a +14% Net Employment Outlook for the final quarter of 2016, up 11 percentage points on the same period last year, but a decline of 1 percentage point on the previous quarter.

Results for all 43 countries can be viewed in the new interactive Manpower Employment Outlook Survey Explorer tool at http://manpowergroupsolutions.com/DataExplorer/

The next Manpower Employment Outlook Survey will be released on the 13th of December 2016 and will report hiring expectations for the first quarter of 2017. The Manpower Employment Outlook Survey is available free of charge to the public and can be downloaded from www.manpower.ie.

 

 

The Advertising Standards Authority for Ireland (ASAI) launches new advertising campaign

ASAI

New tongue-in-cheek ‘Multi-Immortablets’ campaign aims to highlight examples of breaches of the ASAI code

 

The Advertising Standards Authority for Ireland (ASAI), the independent self-regulatory body committed to promoting the highest standards of marketing communications in Ireland, has launched a new advertising campaign across radio, print and digital outdoor.

The new advertising campaign aims to remind consumers and advertisers that the ASAI is committed to ensuring all marketing communications in Ireland are legal, decent, honest and truthful.

The ASAI’s print advert parodies a sample product, illustrated as ‘Multi-Immortablets’, with a caption reading “You will never die”. The advert is a tongue in cheek sample of an advertisement which is an obvious breach of the ASAI Code. It is also clear from the advertisement that the ASAI is the organisation tasked with ensuring the best interests of consumers and advertisers.

Similarly, a 30 second radio advert features a radio voiceover artist who tells listeners that he is “known for his safe and reassuring tones”. The advert communicates to listeners that the ASAI oversees standards in advertising, ensuring that ads don’t mislead or offend Irish consumers. The ad tells listeners that the ASAI will “listen to your concerns, respond to your complaints and set the standards for responsible advertising“.

The ASAI Code of Standards for Advertising and Marketing Communications in Ireland covers commercial marketing communications and sales promotions across all media in Ireland including digital (online banners, websites and social platforms), print, outdoor, radio, TV, leaflets / brochures, and direct marketing. The objective of the Code is to ensure that all commercial marketing communications are ‘legal, decent, honest and truthful’ and members of the ASAI are required to abide by the Code and not to publish an advertisement or conduct a promotion which contravenes Code rules.

The organisation also offers free confidential and non-binding copy advice on the compliance of proposed advertising. Advertisers, agencies, media and promoters can obtain copy advice from the ASAI on whether a proposed marketing communication or sales promotion conforms to the Code.

Speaking about the new campaign Orla Twomey, Chief Executive of the ASAI, said:

“The ASAI is passionate about good advertising because responsible advertisements are good for consumers, society and advertisers and ensure trust in brands. Our campaign aims to raise awareness of the ASAI among consumers and advertisers, ensuring effective self-regulation of the advertising industry. Our approach is to work with advertisers rather than against them to ultimately ensure that all marketing communications are truthful, decent and honest.

If an advertiser has any concerns, the confidential copy advice service can aid advertisers, agencies and media members in creating responsible advertisements.”

The ASAI’s 2015 Annual Report shows that a total of 1,221 written complaints relating to 924 advertisements were submitted to the Advertising Standards Authority for Ireland (ASAI) in 2015. The updated 7th edition of the ASAI Code of Standards for Marketing and Advertising also came into effect on the first of March 2016. The code was updated to ensure the code was relevant, reflecting societal and cultural values and attitudes. The ASAI conducts ongoing monitoring of advertising across all media and since 2007 has examined over 27,000 advertisements, with an overall compliance rate of 98 per cent.

The Advertising Standards Authority for Ireland is financed by the advertising industry and committed, in the public interest, to promoting the highest standards of marketing communications that is advertising, promotional marketing and direct marketing.

 

www.asai.ie

Or follow the ASAI on Twitter @THE_ASAI

The ASAI accepts complaints from any person or body who considers that a marketing communication may be in breach of the Code. To find out more, or to view the ASAI Code of Standards for Advertising and Marketing Communications in Ireland (7th edition), go to www.asai.ie