Our Prosum staffing and recruiting experts suggest it is the year of compromise in tech staffing.
Breaking down the tech recruiting and hiring experience in 2024
For at least a decade, tech hiring markets leaned heavily in favor of top tech candidates. As organizations sought to win in the game of innovation and new tech emerged, tech professionals rode an incline wave with high-paying roles, increased responsibilities, and visibilities in an IT reign. The war for talent continued for in-demand skillsets amidst a supply that never seemed to increase, even during the tumultuous job market of the pandemic. In fact, the pandemic further exacerbated the fight for talent as businesses fought to remain competitive and relevant to support a new world that was now so heavily dependent on new tech. This “candidate’s market” seemingly would never end, leaving employers often sitting on the back of their heels, struggling to find top talent, pay for top talent and retain top talent
In 2022, it would seem the tide turned. Tech hiring was altered significantly in 2022 and 2023 with massive tech layoffs that left many in the tech sector reeling. The market was flooded with applicants and candidate competition resumed where many employers noted an influx of resumes for a single job like they had never seen. Positively, even though layoffs and downsizing were historical, monthly job numbers showed that for many tech professionals, finding a new role happened very quickly, and opportunities opened in other non-tech sectors, extending the job field.
While most experts agree we have experienced a soft landing after a tough ride, candidates and hiring companies are optimistic about the tech hiring outlook in 2024, despite any early-year rumblings. It seems we may have reached a pendulum somewhere in the middle of candidates who once leveraged job negotiating power for over a decade and employers who may have flexed their ability to be more selective amidst an increased applicant pool during layoff time.
Here are some of the top points raised about the 2024 tech hiring outlook that both employers and candidates should keep in mind:
While the talent shortage may have eased in some areas, leaders are still seeing a demand for specialized tech roles that are hard to fill. This will bode well for companies who have streamlined their hiring process, built a strong culture, and are looking to grow.
An environment of compromise is important at this time and there are several actions each group can take to ensure that the working relationship is optimal for both parties.
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The bottom-line compromise on remote work vs. in-office
The number of remote-only job postings skyrocketed in the last three years, but after its peak in the summer of 2022, candidates started to see a decline per monthly tracking reports. Remote work is still desired by over 60% of tech workers and though tech still dominates as a remote-work-driven market, more employers are seeking increased work time in-office which is leading to some middle-ground conversations in the hybrid world. Some workers will opt to find fully remote positions, but new working generations entering the workforce express interest in working in-house to build networking and interpersonal relationships as they start their careers. The key to candidate-employer agreement is some level of flexibility in the work environment. Whether it’s staggered weeks, altered workday hours and flex-time to allow for candidates to have more authority over their schedules when hired, candidates and hiring managers can negotiate a schedule to satisfy employer RTO mandates.
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Continue to emphasize the ‘employee experience’
Recent reports have suggested that because employers may have felt that the talent pipeline had increased, thus alleviating a bit of the talent shortage, the efforts toward programs and cultures that attract and engage employees waned. Forrester noted in its “Predictions 2024: The Future of Work” report, that companies were not prioritizing the employee experience in 2022 and 2023 and it would be more of the same in 2024. Actions like decreasing DEI programs and not fully investing in employee experience tools and platformshave showed a resulting decline in rates of employee engagement which dropped four percentage points and are predicted to drop further in 2024.
As an IT staffing firm, culture and the experience working with a potential employer is a huge sticking point for candidates. The notion that skilled professionals will settle for less just to be employed could be true in some instances, but will only be a stop-gap – they will find a better opportunity sooner than later, leaving employers to manage turnover costs more quickly and start back at day one. Hiring companies are encouraged to continue to value the candidate and employee experience even during times where they feel they may not have to. For a company to thrive, their cultural foundation is critical no matter what the candidate market looks like.
At Prosum, we have built a winning formula on company culture that is reflected by our unprecedented long-tenured team of recruiting and staffing professionals and high client satisfaction rates. See what our employees have to say about working at Prosum, as this is a reflection of the service excellence delivered to our partners.
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Emphasis on Skills-based Hiring Takes a Front Seat in 2024 Tech Hiring Outlook
Employers must be open to alternative skill sets and candidates must be ready to deliver on new skill demands.
As tech changes, so do the skills that define a top-quality candidate. Sometimes, formal educational degrees may not be the deciding factor. Skills portfolios for tech professionals are adapting rapidly. Hiring companies can attract top prospects by being open to different job requirements, working with their recruiters to identify candidates that might not fit the candidate profile with traditional qualifications but possess the knowledge and learned skills that could accommodate the role.
Candidates conversely must be ready to step up with the skills employers are looking for and be willing to educate themselves through training to meet those demands. Foundational skills are critical, but having specialized skills under your belt will be the game-changer, especially coupling tech skills with sought-after soft skills that a company will feel can benefit them in multiple ways in the long run.
For help in navigating a changing tech employment landscape, it’s important to work with an IT staffing partner who knows your market and can guide you through data and proven best practices to help you build your workforce amidst the tech hiring outlook this year. Contact an expert at Prosum to request IT talent or to find your next job opportunity today.
