Though the news might be dominated by stories of layoffs at large technology companies such as Amazon and Meta, there’s a bigger picture emerging – the need for tech talent isn’t decreasing elsewhere.
Traditional companies that may have previously struggled to compete for tech talent against the largest companies are now recognising the opportunity that hiring surges present for them.
Though a sudden influx of tech talent could be a great opportunity for tech businesses, there are also challenges that will arise, from the high level of competition for specific skillsets and job roles, to the difficulties to not only attract but also retain talent.
Let’s take a look at the good and the bad news when it comes to tech hiring surges.
It might sound like a simple principle, yet it’s true – new technology requires tech talent to keep it moving and adapting.
Cloud migration and digitisation are two key trends driving a need for tech talent, which makes hiring tech candidates a top priority.
Sustained demand isn’t exclusive to the well-known, largest companies such as Facebook, Google and Microsoft, as investment in technology has expanded far beyond this remit.
But why is sustained demand as it relates to new technology a good thing for businesses?
Well, it means that though many other companies are considering the possibility of scaling back, talent is still your key to growth!
In other words, businesses that stay ahead by acknowledging the necessity for talent rather than treating a hiring surge as a temporary or passing trend are more likely to benefit from better attraction and retention efforts.
It’s not just businesses taking note of tech hiring surges, which means that candidates have a key role in influencing the outcome of these surges.
In other words, if tech becomes a candidate-driven market, then the demands on employers will only rise at a time when many are considering cutting costs in anticipation of a recession, or due to other economic factors.
Software Engineers, for example, have consistently ranked highly for job demand (based on the greatest number of paid LinkedIn job posts), alongside DevOps Engineers.
Candidates with prior experience in these roles or with in-demand skillsets are likely aware of the high level of competition in securing employees with their talents.
This means that businesses can no longer rely on a competitive salary alone to attract and retain candidates; instead, they need to focus on a full breadth of employee benefits, and their value proposition and branding.
After all, candidates do have the ability to simply look elsewhere if they feel as though their needs aren’t being met, or their values aren’t aligning with your business.
As mentioned above, candidates are simply one factor driving change in tech hiring strategies.
A key issue that many companies will face first and foremost is an overreliance on attempting to remain competitive through remuneration alone.
If a candidate is receiving multiple offers or counter offers, it’s highly unlikely that salary alone will be the determining factor.
Instead, businesses should focus on:
The rapid change during the pandemic may have set the tone for the way that many businesses still continue to operate, however this is no longer sufficient.
Remote working, for example, shouldn’t just be assumed as sufficient through Zoom calls alone.
Instead, efforts should be made to truly modernise the way that your business and employees are working.
This includes:
Without adapting to a more efficient, modern way of working, businesses will stagnate and struggle to attract talent in such a competitive market.
As with any hiring trends, the skills that are in demand have changed.
Harvard Business Review cites the following skills as notable for traditional firms looking for successful digital transformation:
These skillsets are highly valuable in overcoming many of the challenges facing businesses during such a critical period, as they can help to keep a business agile and efficient.
Whilst a degree of apprehension is understandable, the businesses that look to tech hiring surges as an opportunity rather than a source for concern are far more likely to create positive opportunities.
Many employees currently working at tech companies may find their position to be tenuous, which means that now is an ideal time to focus on hiring passive candidates.
Additionally, the businesses that strengthen their recruitment strategies now will be in a better position to attract candidates that are seeking greater stability.
If you’ve not considered shifting your recruitment strategy to account for these surges, now is the time to consider reaching out!
At Remit Resources, we use our approach to recruitment to fill the gap between a traditional agency and consultancy by focusing on development, infrastructure and infosec.
We can identify your talent needs and provide you with recruitment solutions through our global network – if you’ve got ambitious growth plans for your business, we could be the perfect recruitment partner for you.
Get in touch today to find out more.