Few skill sets are quite as coveted on as wide a scale as tech skills.
As many businesses look to prepare for a tumultuous period due to the anticipation of an economic downturn, some individuals may be wondering where their career stands in terms of stability and hiring priority.
Fortunately, those with tech skills are very advantageously placed to survive and thrive throughout the uncertainty – after all, there are very few companies that aren’t in immediate need of tech talent.
But which tech skills can help you to recession-proof your career, and why are tech skills in such high demand?
Rapid digital transformation in the UK, particularly during the pandemic, has led to the UK tech ecosystem which was valued at $446bn in 2018 increasing to a $1tn milestone in 2022.
Part of this change is due to the record levels of capital investment in the UK, with multiple decacorns – companies valued at $10bn or more – and unicorns located in the region.
This is important to note, as it shows the growth of the industry as a result of digital transformation.
The other outcome of rapid digital transformation is a necessity for digital, or more specifically, tech, talent – companies looking to grow and operate successfully during an economic downturn are reliant on their ability to secure tech employees.
The majority of businesses said they expect their IT spend to grow in 2022, with 77% of businesses saying they would invest more heavily in tech in 2022.
Interestingly, much of this focus rests on newer areas of technology, with one in two decision-makers stating that their business intends to invest in technology that was previously unused, such as artificial intelligence (AI), the Internet of Things, big data, or cloud computing.
But which tech skills are most highly coveted during such a critical period?
With more businesses than ever before utilising technology to streamline their business processes and innovate, it’s unsurprising why those with cybersecurity skills are so sought-after.
There are a number of factors driving the demand for cybersecurity talent:
As cyber threats become more advanced (and more costly), businesses will struggle to keep up with the evolving nature of cybersecurity without investing in talent with the appropriate skills.
Demand for individuals with cybersecurity skills, however, usually outpaces the supply – for cybersecurity-skilled candidates, this provides significant job security because of such high global demand.
Cloud has enabled business efficiency across industries, from mobile payment systems to new workloads – if remaining agile and adaptive is a business goal, then cloud expertise is a necessity.
Cloud computing and technology is another area that has been catalysed by the pandemic, as the Covid-19 response relied heavily on cloud technology to provide a solid infrastructure to work remotely.
Two other significant factors are contributing to the necessity for those with cloud-related skills, which are cited in Flexera’s State of the Cloud 2022 report in terms of top initiatives for organisations:
Optimising existing use of cloud computing is a cost-control measure for businesses, meaning that they are looking to save money and enhance agility.
This initiative wouldn’t be easy to achieve without employees with cloud-related skills, and if organisations are looking to keep their approach to cloud computing scalable, then they need to gain the talent to remain competitive and meet these objectives.
When it comes to some tasks at work, many businesses will already be reliant on AI and ML to some degree.
However, businesses will undoubtedly be looking for those who have specific areas of expertise with AI and ML, such as natural language processing (NLP), automation, and the use of ML to generate customer insights and intelligence, or to detect fraud.
The benefit of having AI and ML skills is their universal appeal – if you have AI and ML proficiency, these are skills that are in high demand across industries and with seemingly endless applications.
In addition to this, AI and ML are still considered to be a newer area of interest in technology, which means that it is only going to climb higher on the agenda as businesses look for ways to be more agile.
If you have some of the most in-demand skills relating to this area – Python, Java, TensorFlow, and R code writing – then you’re likely to have a very recession-proof career ahead.
High demand and low supply mean that a candidate-driven market has emerged in the industry.
Higher salaries, extensive employee benefits, and greater flexibility are just a few of the advantages of being a tech candidate, particularly if you have the skills mentioned above.
At a time when many other industries are making cost-saving moves and shifting their recruitment processes to account for an economic downturn, it’s clear that if you’ve got the right tech skills, you’re more likely to flourish than to feel the need to panic.
Who knows? Your dream tech role might be just around the corner.
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