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Hold onto your VR headsets and tighten your haptic gloves! As we hurtle into 2023, the realm of tech recruitment is evolving at quantum speed. I’ve plugged into the mainframes of the industry’s most brilliant minds, from Silicon Valley to Singapore’s tech hubs, to bring you the hottest tech hiring trends of this year — and a peek into the crystal ball of what’s coming next! Dive into the digital insights from the masters, and discover where the world of top talent is teleporting to. Ready to unlock the future? Let’s decode the matrix of tech hiring trends in 2023! Best Tech Hiring Trends that I will cover in this article:
Remote Work is Here to Stay: The shift to remote work isn’t just a temporary response to the pandemic. Leading experts believe it’s a permanent fixture in the tech job postings, allowing companies to tap into a global talent pool.
Diversity as a Priority: The focus on creating diverse and inclusive teams has never been higher, with companies realizing the innovation and productivity benefits of varied perspectives.
Continuous Learning & Upskilling: With the rapid pace of technological advancements, there’s a shared belief that employees need to engage in constant learning. Companies are looking for lifelong learners and are often willing to invest in their continuous education.
Employee Well-being is Central in Tech Jobs: Thought leaders emphasize the importance of mental health, work-life balance, and overall well-being as key determinants in attracting and retaining top talent.
Value Alignment: Beyond skill and experience, companies and candidates alike are placing more emphasis on aligning with shared values, missions, and cultural fit.
Retaining Over Hiring: The cost of replacing skilled tech professionals is high. Thus, there’s a noticeable shift towards retention strategies, emphasizing career growth, continuous learning opportunities, and fostering a positive company culture.
Although there’s been a noticeable rise of layoffs in the tech jobs sector recently, its impact on the existing imbalance between supply and demand for digital talent has been marginal. As of March 2023, the unemployment rate in tech was a mere 2.2%, which is notably less than the countrywide average of 3.5%.
And here’s a twist: the hunger for software developers isn’t just a tech jobs industry narrative. Across a spectrum of sectors, there’s a rallying cry for digital evolution and tech-integrated operations. Why? Because the modern customer envisions a company anchored in the digital realm, serving up seamless online interactions, groundbreaking products, and agile services. This push is compelling companies to allocate resources towards robust tech frameworks and proficient top tech talent.
Zooming out, it becomes clear that even non-tech industries are increasingly harnessing tech’s potential to refine their processes and answer evolving consumer demands. Among the hottest tech skill sets? Software development, data insights, cybersecurity, cloud strategies, and the magic of AI. Those armed with expertise in these areas are particularly prized in industries like finance, healthcare, retail, and manufacturing.
In the ever-evolving world of technology, adaptability isn’t just a buzzword; it’s a survival skill. As the calendar pages flipped to 2023, tech industries around the globe saw a profound shift in hiring process and top tech talent preferences. From the ripple effects of global events to the relentless march of technological innovation, the recruiting landscape is transforming. But what are the driving forces dictating these changes? Dive in as we uncover the top six tech hiring trends of 2023 that every business leader, recruiter, and tech enthusiast should be aware of.
The tech industry, with its constant evolution and dynamic nature, has always been at the forefront of adopting new operational strategies. One of the most notable trends in recent times is the increasing demand for offshoring tech workers. Let’s delve into this trend, its reasons, and implications. A significant 16% of global companies operate entirely remotely. In February 2022, a record-breaking 20% of all job postings on LinkedIn from the US were for remote positions. By September, these remote opportunities attracted a whopping 52% of all US job applications. This trend isn’t limited to the US; remote hiring practices is gaining traction worldwide. Given this momentum, it’s hardly shocking that there is a continued emphasis on remote hiring in 2023.
The current remote and hybrid work environment has led to tech companies realizing they are not limited to local talent only - they can hire from anywhere to fill their roles. By hiring talent nternationally, which widens the available talent pool, companies can potentially decrease their time searching for the right candidate, and fill critical roles faster. In addition to widening the talent pool, international talent also increases diversity within the company.
However, there’s a disconnect: despite the clear advantages of remote work, 44% of employers haven’t yet embraced any form of remote working. This stance is increasingly out of touch, especially when 74% of professionals anticipate remote work becoming the standard operational mode in the foreseeable future. Employers would do well to reconsider their positions on remote work, leaning into more adaptable models.
So, why the palpable shift towards remote work in 2023? Experts identify several driving factors, primarily centered around accessing a wider pool of skilled talent from overseas and the undeniable appeal of cost-saving. To underscore this, a study by Global Workplace Analytics highlights a potential saving for US employers: a substantial $11,000 annually per remote worker if they telecommute for an average of 2.5 days each week.
While the advantages of remote-first hiring are evident, the journey to effective remote talent acquisition is fraught with challenges. This is where TurnKey’s expertise shines through. With a robust understanding of the global tech landscape, TurnKey is adept at:
Tailored Talent Search: TurnKey doesn’t just fill vacancies; they find the right fit. Their offshore hiring strategies are bespoke, tailored to match the specific needs of the company and the nuances of the role.
Cultural Compatibility: TurnKey recognizes that while skills are paramount, cultural fit cannot be ignored. They ensure that offshore hires not only align with the technical requisites but also resonate with the company’s ethos, mission, and values.
Seamless Integration: Transitioning offshore hires into a team should be fluid, and TurnKey ensures that with its end-to-end support, from onboarding processes to integration tools, making sure that distance doesn’t translate into disconnect.
In the grand tapestry of tech hiring, the remote-first trend is more than just a transient pattern; it’s a paradigm shift. With TurnKey at the helm of offshore talent acquisition, tech companies aren’t just embracing this change; they’re thriving within it.
In conclusion, the momentum of remote work is not only unyielding but also expected to surge further in the upcoming year. If your company hasn’t yet hopped on the remote bandwagon, the time to recalibrate and embrace this modern mode of work is now.
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Despite rampant headlines about large-scale layoffs, Jim Stroud predicts a more challenging hiring environment due to a shrinking workforce. Recent reports on Workplace Trends by Indeed and Glassdoor highlight that the number of individuals in the U.S. aged 25-54 (the prime working age group) is projected to plunge by 37.2% by 2050. This data becomes even more pressing when juxtaposed with figures from Mental Health America, which noted that in the 2019-2020 period, 20.78% of adults grappled with mental illness, translating to over 50 million Americans.
A dwindling labor market, with a significant amount of mental health issues, means that recruiters will have to upscale their soft skills to make more hires. Not only will Recruiters have to be self-aware enough to recognize any shortcomings in their own emotional intelligence, but they will also have to know how to successfully screen for emotionally intelligent candidates. Why? When it's difficult enough to make a hire, you want to retain them as long as you can, and companies are already making the investment. Recruiters who want to be successful in 2023 would do well to pursue Emotional Intelligence training or consider the various books on the subject.
What implications do these numbers have for businesses? A critical takeaway is the increasing significance of mental health on organizational profitability and operations. Gallup’s latest survey indicates that a concerning 20% of employees rated their mental well-being as either “fair” or “poor.” This mental health crisis is leading to absenteeism, costing companies $340 daily for full-time employees and $170 for part-time staff.
How does this shift the recruitment landscape? The focus on mental health will likely shape hiring priorities and workplace initiatives. Furthermore, industry pundits are spotlighting the undeniable value of professional growth. For recruiters aiming to stay ahead of the curve, it’s essential to prioritize learning and development, ensuring a competitive edge in an evolving market.
While compensation and perks continue to be primary drivers for job seekers, the emphasis on fostering a positive organizational culture has become a significant differentiator for employers, particularly in the era of remote work. As the workforce pool contracts, giving employees more leverage in their choices, there’s an increasing demand for a richer work experience, one marked by happiness, fulfillment, purpose, and balanced stress levels.
Indeed’s Work Wellbeing 2022 Insights Report underscores this sentiment. A whopping 90% of individuals acknowledge the importance of their feelings in the workplace. However, there’s a gap in addressing this, with only 49% asserting that their companies actively gauge employee happiness and wellbeing. In this dynamic, understanding and addressing employee wellbeing isn’t just a nicety—it’s essential for talent attraction and retention.
Glassdoor’s findings echo these insights. Comparative studies across the US, the UK, Germany, and France indicate that job satisfaction plays a critical role in employees’ likelihood to seek other opportunities. In the US, for instance:
Employees giving their companies a 2-star rating (out of 5) are twice as likely to consider new job opportunities compared to those bestowing a 5-star rating.
An increase of just one star in an employee’s rating for their company correlates with a 6% decline in the chances they’ll seek a new position.
In essence, a positive work culture isn’t just about morale; it’s intrinsically tied to employee retention and a company’s competitive edge in the talent market.
Data underscores that the implementation of Diversity, Equity, and Inclusion (DE&I) strategies has a profound impact on organizational outcomes. A substantial 70% of businesses emphasize the vital importance of efforts made by employees to champion DE&I. As such, many are doubling down on their commitment to ensuring equal opportunities for every group. The principles of Equality, Diversity, and Inclusion will remain deeply woven into the very essence of organizational policies.
It’s now a globally recognized truth: diverse and inclusive teams amplify productivity. The onus, therefore, lies with leadership to transform this accepted belief into tangible, actionable steps. Data-driven insights will undoubtedly continue propelling progress, especially in areas like the gender pay disparity and the pension pay gap.
In 2023, we will see a selection of diverse candidates as business leaders globally accept that a culturally diverse workforce increases innovation, creativity, and higher profitability. Businesses will look at sourcing candidates where they will get an attractive salary arbitrage, with a strong pool of talent and native English speakers. The Gen Zers, better known as “the generation raised by the internet”, are all set to enter the workforce in intermediate-level roles. The drastic change they will bring into the recruitment world is lots of speed, as these individuals will expect everything to be online and speedily done!
In the evolving landscape of DE&I for 2023, neurodiversity will take center stage, with a surge in knowledge exchange and thought leadership centered on integrating neurodiverse talent. Complementing this focus will be initiatives around men’s health, support mechanisms for women undergoing menopause, and the unyielding pursuit of equal rights and opportunities for everyone.
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For U.S. employees aged 25-54, the quest for higher pay stands out as the primary motivator for job-hunting, regardless of the industry or whether they earn hourly wages. By spring 2021, the number of job searches aiming for $20 per hour eclipsed those for $15. As of August 2022, these searches have witnessed a 35.5% year-on-year surge. Both inflation and the broader trend of wage growth have contributed to these heightened salary expectations.
Yet, in the face of a tight labor market and the diminishing working-age demographic, how can employers gain an edge, especially when boosting wages isn’t always viable?
Holistic benefits have surfaced as a pivotal aspect of compensation strategies. In sectors often marked by lower wages and in-person roles, like childcare or food service, these comprehensive benefits can serve as a competitive differentiator. Indeed’s U.S. platform has captured this trend, highlighting a rise in job ads emphasizing three core benefits: healthcare, retirement plans, and paid leave.
Given that most job seekers value these perks, it’s logical that interest has leaned towards sectors known to offer such benefits, particularly higher-paying and remote-friendly ones.
The takeaway? Employers in sectors traditionally marked by lower wages and on-site roles might need to innovate to lure prospective employees in the evolving job market.
Amidst this competitive atmosphere, not only have companies been flaunting enhanced benefits, but workers have also reported a richer array of perks in their roles. While stocked kitchens and complimentary lunches were once staple perks in tech firms, post-pandemic shifts have diversified the sectors offering such benefits. For instance, Glassdoor analysis indicates that industries like manufacturing and transportation/logistics are increasingly offering free lunches. Conversely, fewer tech workers have reported these perks, likely due to a continued remote work model. Once, free meals were an incentive to keep tech employees at their desks longer; now, they’re an allure to get them into the office in the first place.
In recent years, recruitment automation has surged in popularity, liberating recruiters to channel their efforts on more human-centric aspects of the job. A notable 69% of professionals leveraging automation in recruitment attest to its effectiveness in significantly streamlining the hiring timeline.
The landscape of recruiting technology will not shrink but will become more competitive and concrete. Which is a superb thing for our domain! Using automated CRMs will slowly become mainstream, and most of the candidate communication will be managed by technology; adding more aggregated search engines to our stack will slowly dominate over LinkedIn. Also, digital human data will form into One Profile - like in an early blockchain structure. The power of network connectivity will win over keyword searches or semantics. Referrals, in a totally new design, will take over more than 50% of the hires.
The global Applicant Tracking System (ATS) market is on an upward trajectory. Forecasts project a Compound Annual Growth Rate of 6.7%, positioning the market value at $3.2 billion USD by 2026, up from $2.3 billion USD in 2021. This growth is underpinned by factors such as the enhanced candidate experience due to streamlined processes, the demand for automation in recruitment, and the added emphasis on comprehensive reporting and compliance.
Data management tools like Amazing Hiring, Entelo, HireEZ, SeekOut, and ZoomInfo (to name a few), along with platforms like Crunchbase with gender-specific search filters, have gained traction.
So, which tools will reign supreme in 2023?
Tools focusing on retrieving missing contact information, such as ContactOut, RocketReach, SalesQL, and Swordfish.ai.
AI-driven tools designed for tasks like drafting emails, visualizing textual data, and streamlining interview scheduling.
Comprehensive data tools, like Zapier and Make.com, which not only recover lost contact details but also integrate automated workflows, transferring real-time updates from sources, like layoff lists, directly to platforms like Google Sheets.
Thus, adopting recruitment automation might very well be a game-changer for organizations. An amalgamation of these advanced tools can craft a comprehensive toolkit, ensuring organizations onboard the best talent.
In summary, 2023’s tech hiring landscape is a fascinating blend of cutting-edge technology and a return to core human values. While AI is changing the mechanics of recruitment, the heart of the industry is pivoting towards inclusivity, continuous growth, and holistic skill sets. As these trends shape the future, one thing’s for sure: the tech world is in for an exciting journey!
In an era where technology drives business growth and innovation, having the right tech talent on your side can be the game-changer your organization needs. But with the ever-evolving tech landscape, how do you ensure that you’re bringing in the best minds, equipped not just with the right skills but also with a mindset aligned to your business objectives? Enter TurnKey, the paragon of excellence in tech talent hiring.
TurnKey brings you the ‘Yourshoring’ model. Yourshoring is all about customizing talent acquisition based on your exact needs. It’s not just about where the talent is located, but about how seamlessly they can integrate into your organizational culture, goals, and vision. With TurnKey, you’re not just hiring an individual; you’re building an extended team that feels, thinks, and works as an intrinsic part of your company.
The tech world is dynamic, with new trends emerging at a breakneck speed. TurnKey isn’t just a passive observer but an active participant in the tech evolution. Our deep-rooted presence in the tech industry allows us to always be in-the-know. From AI and machine learning to blockchain, from data science intricacies to cloud computing innovations, we’re clued into what’s current, what’s fading, and what’s on the horizon. This knowledge ensures that when you partner with us, you’re not just getting access to talent but to future-ready tech wizards who are ahead of the curve.
Why TurnKey is the Perfect Partner:
Holistic Understanding: We don’t just fill vacancies; we understand your business model, objectives, and culture to find the perfect fit.
Global Network, Local Insights: Our vast global network of tech talent is complemented by local insights, ensuring that you get candidates who are not just skilled but also culturally aligned to your organization. We hire the best tech minds in Latin America and Eastern Europe.
Speed and Efficiency: With our efficient processes, we reduce the time-to-hire, ensuring that your projects don’t have to wait.
Quality Assured: Our rigorous screening processes, combined with a keen understanding of the tech industry, means every candidate we bring to you is of top-tier quality.
As the tech world zooms ahead, you need a partner that not only keeps pace but often runs ahead, guiding you. With its unique Yourshoring model and a keen understanding of industry trends, TurnKey is that partner. Elevate your hiring process; let TurnKey be the catalyst for your organization’s tech-driven success.
As we venture further into the future, technological advancements, global challenges, and changing workforce dynamics will continue to reshape the tech hiring landscape. Here are some top predictions about tech hiring trends in the coming years:
The post-pandemic world has witnessed a significant shift towards remote work. Given the success and the operational resilience demonstrated by this model, businesses are likely to continue embracing remote teams, thereby expanding their horizons to regions like LatAm for talent acquisition. For North American companies, LatAm offers a more favorable time zone overlap compared to Eastern Europe or Asia. This can facilitate real-time collaboration and reduce the challenges associated with asynchronous communication. Cities like Medellín (Colombia), São Paulo (Brazil), and Buenos Aires (Argentina) are fast becoming hubs for tech startups and development centers, attracting not just local but also international investments.
Artificial intelligence will play an even bigger role in the recruitment process, from AI-driven job ads targeting to predictive analytics assessing candidate success rates.
Companies will place increased emphasis on skills and project portfolios rather than traditional degrees. Micro-credentials and badge systems might become more relevant indicators of a candidate’s expertise.
Virtual reality (VR) and AR could be used for virtual office tours, onboarding, or even skill assessment tasks during interviews, giving candidates immersive experiences.
With the rapid evolution of tech tools and platforms, there will be a stronger emphasis on continuous learning and upskilling. Candidates who showcase a commitment to lifelong learning will be in high demand.
As projects become more specialized, there will be a rise in hiring tech freelancers or contractors for short-term, specialized projects.
With growing concerns about data privacy, security, and environmental issues, there will be a demand for tech professionals who have knowledge and experience in ethical tech practices and sustainable technologies.
Instead of traditional coding tests, companies might employ gamified challenges that assess problem-solving skills, coding abilities, and teamwork in real-time environments.
These predictions are rooted in current trends and industry expert opinions. However, it’s essential to remember that the future is fluid, and external factors like global economic conditions, geopolitical events, or even unforeseen challenges (like the COVID-19 pandemic) can shift trends in unexpected directions.
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The 2023 tech hiring landscape is marked by the growing preference for remote-first roles, the utilization of AI in recruitment processes, an increased emphasis on diversity, equity, and inclusion (DE&I), and the prioritization of mental health and well-being in the workplace.
While core technical skills remain paramount, employers are also valuing adaptability, excellent communication skills, and the ability to work autonomously. These soft skills are crucial in remote or hybrid work environments, ensuring teams remain cohesive and efficient despite geographical separations.
AI is revolutionizing the recruitment process by automating resume screenings, facilitating skill assessments, and even aiding in initial interview rounds. Blockchain, while still nascent in the recruitment sphere, offers potential in authenticating credentials and providing transparency in the recruitment process. Both technologies signal a move towards more efficient, data-driven hiring.
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