AS IT ANNOUNCES 60 new jobs at its Dublin office, Sprout Social is hopeful that new supply will help ease pressure on the housing market.
With numerous reports pointing to a shortage of rental accommodation in the capital, the increased headcounts across the city could put pressure on an already crowded market.
“It’s no doubt that one of the challenges posed by Dublin’s success and growth is that there has been a growing demand for accommodation, and rents are rising,” Gerard Murnaghan, the general manager of Sprout Social in Europe, the Middle East and Africa, said.
He added that there are “clearly a lot of people working to encourage new supply into the market, which hopefully will help ease the situation”.
“I still think Dublin is a highly attractive location, and we are keeping up-to-date on proposed measures that will help improve the supply of accommodation,” Murnaghan said.
The company, which is headquartered in Chicago and employs 500 globally, plans to attract talent from both Ireland and Europe.
Its Dublin staff currently works out of a co-working space on St Stephen’s Green and the company said that it will be looking for something more permanent in a central location in the city.
With 30% of the company’s revenue coming from outside the US, Sprout Social has decided to increase its presence in the Dublin office, as social media marketing is still in its infancy.
Figures from Sprout Social state that more than €161 million was spent in Ireland on social media marketing last year, which has increased by 31% compared to 2017.
Jobs growth outside the capital
The trend of companies expanding in Ireland has not been confined to the capital, with Orla Moran, general manager of IrishJobs.ie, also pointing to strong performance in jobs growth around the country.
“Ten years ago if you were serious about your career and you wanted that great job, Dublin was your option, now that’s not the case anymore,” she said.
“We would have a large number of clients in medical devices, energy, pharma, banking, and finance dotted outside Ireland, so it is good news for job seekers if you are concerned about the spiraling rent costs,” she added.
Moran cited Limerick as an example of an area that is performing well, which sustained job growth of 5% in the first quarter of this year.
“Limerick ten years ago was an unemployment black spot but now it mirrors Dublin in terms of jobs available per available workforce, so it is a really good success story,” she said.