Sonas Technical’s newly published '2024 Insights Report: Engineering a Winning Talent Strategy' reveals that 40% of Irish engineering and construction firms are now offering financial incentives and relocation packages to attract international talent. However, the report identifies cost of living and housing shortages as big barriers preventing skilled workers – including returning Irish expats – from relocating to Ireland.
While the recently launched government information portal 'Build Back Home' aims to encourage Irish construction workers living abroad to return, it does not address these key financial concerns. The website provides guidance on overcoming logistical challenges like red tape, but without tax breaks or housing supports, the significant cost of living remains a deterrent for many.
With 55% of companies planning to expand their workforce over the next 12 months, industry leaders are calling for government action to provide temporary, targeted tax breaks and housing supports tied to the Critical Skills Employment Permit. These interventions would assist in meeting national goals, including increasing housing supply and completing major infrastructure projects like Metrolink.
Derek Byrne, Managing Director of Sonas Technical, commented: “While companies are stepping up with tailored relocation packages, government intervention is essential. By linking tax breaks and housing supports to the Critical Skills Employment Permit, the government can directly address the cost of living and housing challenges that international talent faces. These measures, which would be temporary and targeted, will play a key role in attracting skilled professionals necessary to meet our housing targets and complete critical projects like Metrolink.”
Proposed temporary government supports linked to critical skills visa
- Tax Breaks – Offering tax incentives for professionals approved under the Critical Skills Employment Permit, similar to the 30% ruling in the Netherlands.
- Housing Supports – Providing subsidised housing or temporary accommodation to ease the transition for skilled workers.
- Relocation Grants – One-time grants to cover initial housing costs, such as deposits or rent.
These temporary supports are designed to address the 66.7% of industry leaders who report that the shortage of skilled workers is impacting operations.
Although the Build Back Home portal provides valuable guidance for returning workers, it falls short in addressing the financial incentives necessary to truly encourage skilled professionals abroad to relocate.
By combining corporate and governmental efforts, Ireland can foster an environment where international talent thrives, contributing to major infrastructure and housing developments that benefits everyone in Ireland.
The full report is now available on the Sonas Technical website, offering detailed analysis and recommendations for addressing the talent shortage in Ireland's engineering sector.