THERE WERE no Government Ministers in attendance at the IMI national conference yesterday but that didn't stop David O'Meara, chief executive of Irish entertainment software group Havok, which was bought by Intel last year, from issuing a warning.

He said it wasn't enough for Ireland to simply focus on its corporate tax rate in relation to overseas investment and jobs.

"There's not enough talk about personal taxes in terms of attracting world-class talent to Ireland," Mr O'Meara told the audience.

He explained that personal taxes in other countries, including the United States, often made them more attractive destinations for many people to locate elsewhere.

He said there was a scarcity of talent in Ireland in almost every single function within his company.

"[This is] not just in engineering and computer science but also in leadership, product management, marketing, sales and finance," he said.

This is all the more remarkable when you consider that Havok's 25 staff in Dublin earn an average €120,000 a year, according to its chief executive.

Mr O'Meara joined Havok five years ago.

The software firm is now regularly used by all the big studios in Hollywood and has an Emmy award and Oscar nomination under its belt.

Since he took the reins, Mr O'Meara has closed Havok's offices in Japan and Britain.

He also decided to let go a total of some 30 per cent of staff .

All unnecessary spending was cut, including marketing costs and consultants. And he still checks all expenses claims and signs every cheque.

Mr O'Meara said that Havok has moved from a culture in which "it was shocking to many if someone was let go on the grounds of performance to a point where the organisation expects and demands not be held back".

"They want the mediocre replaced," he added.