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The economic uncertainty that impacted the technology market in 2023 and early 2024 continues to cast a shadow. However, amidst this backdrop of near-full employment, a rebalancing is underway.
Following the slowdown and right-sizing seen in some technology sectors since late 2022 (a correction from pandemic-era over-hiring), the market is showing positive signs of evolution. Notably, we see a rise in contract opportunities reflecting employers’ desire for flexibility and a cautious approach to permanent hires.
Despite this cautiousness, a talent shortage persists in specific areas particularly those aligned with AI and emerging technologies.
What’s Important to Talent:
While salary remains a key motivator, the ability to work in a hybrid or remote model continues to be a top priority for skilled professionals. Additionally, career progression opportunities and access to ongoing learning and development (L&D) are highly valued, particularly for roles involving AI and emerging technologies.
Areas of Growth:
- Infrastructure and Cybersecurity: The ever-increasing number of cyber threats fuels a surging demand for talent in these areas.
- Data & Analytics: Organisations are seeking advanced analytics and machine learning expertise to build in-house capabilities and reduce reliance on external firms. This translates to significant demand for data analysts and data scientists.
- Transformation & PMO: Both functional and technical expertise are highly sought after as businesses navigate digital transformation initiatives. Project Management Office (PMO) roles are also seeing increased demand.
- Engineering: Engineering talent remains in high demand across various disciplines.
Looking Ahead…
While the market retains an element of uncertainty, there’s room for optimism as we move into Q3 and beyond. The skills shortage persists, however, requiring employers to adjust their hiring strategies. This includes factoring in longer lead times for talent attraction and the leverage talent hold during offer negotiations.
More about Catherine…
Catherine Drysdale FCA is a Consultant in the Projects, Transformation & Change division of Barden’s talent advisory and recruitment firm.
Catherine trained with Deloitte’s FS Audit practice which kickstarted her eighteen-year career in finance. During that time, Catherine held key finance positions in organisations in the pharmaceutical, financial services, and eCommerce industries. Driven by her keen interest in project management, Catherine pursued and attained her PRINCE2 qualification, further enhancing her skill set. She was Head of Finance & Transformation at an eCommerce enterprise, where her leadership played a critical role in driving organisational change and finance function optimisation.
In September 2023, Catherine made a career pivot by joining Barden where she applies her passion for helping people to develop and support them on their career journey. Connect with Catherine on LinkedIn or at catherine.drysdale@barden.ie