As a professional in tech, you’ve seen a lot of volatility in the job market over the last couple of years. With talks of a looming recession, you might be wondering… what’s next? As companies begin to evaluate their workforces and reconsider their budgets, change is on the horizon. Now, even if you’re not currently exploring opportunities, being in the know on evolving trends can help you make strategic decisions when it comes to your career. As the new year approaches, read about the tech industry trends you should be aware of:
Although layoffs have not been unheard of, we still wouldn’t call what we’re seeing in the market a “freeze.” However, companies are being more conservative with their budgeting, leading to what we are calling a hiring “frost.”
“While companies may have been willing to pay high rates and offer unprecedented salaries in order to attract the tech skills and talent they needed, we are now starting to see things stabilize,” says Jacklyn Vazquez, a Senior Director of Tandym Tech. “That doesn’t mean businesses are halting hiring altogether. They’re just supplementing inflated salaries with other benefits such as sign on bonuses, company perks, and more time off.”
Tip: With compensation evolving so quickly, it can be challenging to know what’s standard in the market. Information can quickly become outdated. To stay up-to-date and ensure you’re being paid your worth, checking in with a tech recruiter can help you gauge tech industry trends, and what others with similar skillsets are getting offered today.
When it comes to hiring for tech roles, full-time positions are taking precedent over contract ones. “What we’re seeing is this shift in mindset—where contracts are ending and employers are hiring one full-time employee to replace more than one contractor,” mentions Jacklyn. “This means they’re looking for versatility in their next full-time hire—someone who can possibly wear multiple hats.”
Tip: Because tech industry trends are always evolving, upskilling is so important—not just in this type of market, but in any type of market. Jacklyn recommends, “To build career resiliency, ensure you’re taking courses online and are familiar with cloud-based technologies, mobile applications, cryptocurrency, and AI. When possible, get certified, especially in cloud-based platforms such as AWS and Microsoft Azure.”
While remote work is still being offered, we are seeing a high demand for on-site employees. Whether it’s because of the collaborative nature of the work or hardware that just can’t be shipped to remote locations—employers are valuing those willing to travel into the office. As a tech professional, you may be seeing less fully remote options on the market—but that doesn’t mean they aren’t there. “Companies do understand that keeping that work from home mindset opens up their candidate pool, so if in-office work is a nonstarter for you, you will still have options,” says Jacklyn.
Tip: Be flexible if possible. While you may find a role that doesn’t offer fully remote work, you may be able to negotiate on other benefits, salary included.
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