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How to hire tech talent in 2024

The IT sector is set to create anywhere between 20 and 50 million jobs by 2030 as more and more businesses look to digitalise and automate processes across the EMEA region and beyond. Updates to Software, Cloud Infrastructure, Generative AI and Machine Learning are the backbone of innovation, but they are only as good as the experts working with them.
 
At the same time, the progression of companies around the globe is being disrupted by multiple external factors such as geopolitical crises and inflationary pressures on an already volatile economic cycle. The impact of these issues can already be seen in tightening budgets, hiring freezes, and, in many cases, massive waves of layoffs.
 
The biggest recruitment challenge for companies now is to secure the specific IT talent they need to stay ahead in the digital revolution and avoid losing competitive advantage, whilst being careful to prioritise where to spend their reduced budget. As inflation rises, companies are focused on mitigating risks while increasing profitability. Hiring the wrong candidates can be very costly.
 
 

Hiring tech talent in 2024: a diagnostic

 
Recruiting top IT talent comes with its own challenges. The tech talent market is well known for setting its own standards and hiring companies are struggling to meet them.
 
Here are the top 3 challenges in IT recruiting today:
 
 

1. The hire-fire cycle

 
Though IT team headcounts are often saved when it comes to cost-cutting exercises, we are seeing high turnover in permanent IT staff.
 
The instability caused by hire-fire cycles, driven by the need of companies to keep restructuring their workforce to navigate tough economic circumstances, has several impacts on the business’ bottom line:
 
  • Negative effects on productivity, project performance and service quality, all of which damage client relations.
  • Financial risks caused by high costs associated to onboarding and offboarding employees.
  • Risk of the company’s reputation as a place to work due to poor headcount management, leading to a lack of trust from prospective employees.
  • Low employee morale and disengagement.
 
Breaking free from this pattern requires strategic workforce planning, a focus on IT talent retention and strong awareness of the current financial landscape.
 
 

2. Attracting the right candidates

 
Companies are failing to make their offers attractive to IT talent, which makes it almost impossible for them to secure the right hires.
 
Attracting and retaining IT professionals involves knowing their expectations and tailoring your offer accordingly.
 
Here are some of the key factors tech specialists value highly in a job:
 
  • Challenging and meaningful roles: IT specialists are drawn to intellectually stimulating positions and it’s crucial that companies effec tively promote these aspects of the jobs they’re hiring for in the ads and interviews.
  • Competitive compensation: tech professionals have seen the demand for their skills skyrocket in recent years and they are aware of the talent scarcity in the market. They know their value and expect to see this reflected in their salary package.
  • Cutting-edge technologies: tech-savvy workers want to stay on top of the innovations shaping the IT landscape and therefore look for companies that embrace and invest in the latest updates. Access to the latest tools, frameworks and platforms is key to facilitate their best work and maximise efficiency.
  • Professional growth: clear career development paths, training programs and certifications play an important role when choosing an employer.
 
Understanding the preferences of tech professionals and tailoring offers accordingly will help companies stand out in the ever-competitive IT market.
 
 

3. Flexible work dynamics

 
Companies tend to resist the newer ways of working that feel seamless to IT talent given the nature of their roles. These were the pioneers of remote work , even before the COVID-19 pandemic. The tasks performed by IT specialists are digital-first and their projects require a high degree of autonomy, with tasks that can be carried out from anywhere.
 
According to our Inside Tech Talent report, which studied the wants and needs of tech talent across 20 EMEA countries, 43% of tech professionals wouldn’t even consider an office-based role.
 
Still, many organisations struggle to embrace remote work as it entails a new approach to communication, collaboration, and building a sense of belonging among workers.
 
Companies that resist remote work find it harder to attract new tech talent and are at a higher risk of losing their existing talent to competitors who offer more flexible work arrangements.
 
 

The tech hiring strategy of 2024

 
Recruiting IT talent is a process that requires a high level of adaptability and a profound understanding of the evolving dynamics of the industry. To be able to secure the best profiles under tough market conditions, companies must revamp how they source, engage, hire and retain employees.
 
It’s fundamental to shift from traditional recruiting to a flexible talent strategy that allows organisations to adjust here and now to inflation, changing market needs, reduced budgets and new technologies shaping the way work is done. Companies will only succeed if they can avoid costly processes such as the hiring-firing cycle and secure the tech talent they need to stay agile in the innovation race.
 
Counting on an expert recruitment partner enables businesses to:
 
  • Access extended talent networks, e.g., by sourcing across-the-border candidates who have the desired skillsets and can work remotely.
  • Build tailored employer branding strategies that resonate with the desires and career goals of tech specialists.
  • Adapt their workforce to current market conditions , enabling them to quickly hire top tech talent at scale once the cycles become more favourable.
 
A new, agile approach to recruiting is key to effectively respond to the dynamic technology landscape. Discover how our dedicated RPO solution can help you hire the IT talent you need to stay ahead in 2024.
 
 

AUTHOR

Salvador Sicart
EMEA Head of Technology Solutions at Hays

Salvador Sicart is the EMEA Head of Technology Solutions at Hays. Salva is responsible for driving the delivery of the strategic objectives of the Hays technology recruitment business, including Permanent recruitment as well as Contracting, across Southern Europe, Central Eastern Europe, France and Benelux and the Middle East.

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