Securing funding, delegating tasks, creating a marketing strategy. You might think that these are the top things that are stressing out entrepreneurs. But according to new research conducted by EY, over half of Irish founders believe that recruitment will be their biggest challenge for the year ahead.
The annual survey was conducted amongst 130 entrepreneurs across Ireland. The respondents were all previous finalists in the EY Entrepreneur Of The Year competition.
Why is recruitment becoming such an issue?
Well, it’s all down to a growth in employment. EY predicts that this growth will continue throughout 2018 “as business confidence increases.”
In 2017, 79% of the companies increased their headcount – while 84% plan to do so in 2018.
Commenting on the research findings partner lead of EY Entrepreneur of the Year Ireland, Kevin McLoughlin, said: “The Irish economy has made great strides in the last few years.
“We are particularly proud that the EY Entrepreneur Of The Year Alumni Network is creating so much employment and creating opportunities for people, not just in cities but in rural parts of Ireland.
“While the economy has improved, entrepreneurs always face risks and impediments to growing their businesses.
“Recruiting the right talent is something that stood out as a challenge for companies over the last 12 months.
“With 84% of the businesses surveyed planning on increasing their headcount over the next 12 months, it is highly unlikely that this problem will go away.”
As employment soars, entrepreneurs will have to build their employer brand if they want to make sure that they attract the right talent.