The market is on fire. Couple a global tech skills shortage with border closures due to COVID, and the world of work has become one competitive place. With counter-offers on the rise and salaries increasing by the day, if companies want the best in tech to join their teams, they will need to step up their game.
On the other side of the scale, skilled candidates hold all the power. With job vacancies on the up and candidates in short supply, those possessing the right tech skills are finding themselves in very high demand.
Our local market experts are observing salary growth across all aspects of tech, and according to LinkedIn, there is specific demand for professionals in the following areas:
(source: LinkedIn Insights)
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Offering a competitive salary is one thing, but to truly keep up with the market and get ahead, companies need to consider what they can offer beyond the money.
Remote working initially boomed at the beginning of the pandemic due to extended lockdowns and restrictions. And this has only continued to rise - with flexible and remote working now being a non-negotiable condition for a lot of tech talent.
Colin Etheridge, Talent North America CEO
The pandemic has shone a light on the importance of work-life balance with many candidates. Speaking with candidates, remote working or some kind of work from home aspect is as crucial as a great salary or rate. Many candidates that I speak with are also relocating out of the city into the regions to chase that great lifestyle
Josephine Kempson, Talent Wellington Senior Candidate Manager
Remote working is now often the top condition for many of our candidates, with many rejecting roles who aren’t able to offer at least an office-WFH hybrid. The option to work remotely is now often ahead of salary in terms of what candidates are looking for, with work-life balance being no.1 priority for many.
Phil Orsborn, Talent Bristol Regional Director
Show up to work. Get your pay cheque. Welcome to the 1950s. The world of work has moved considerably past the transactional relationship between employers and employees.
Benefits have gone from strength to strength, from birthday leave to bringing your dog to work (or rabbit, we don’t discriminate here), the last two years have got us thinking about what’s important to us, what really makes us happy, and how to get the most out of our week.
More companies are taking a direct approach to either remote-first or office-first working models. A 2021 global Talent LinkedIn poll suggested that the majority of respondents (80%) preferred either a fully remote or hybrid model of working. Always talk to your people about what works for them.
Health and wellbeing is increasingly important especially given that COVID-19 wasn’t left in 2020, despite all of our NYE wishes. Health and wellness improves morale, increases productivity and engagement, and increases job satisfaction. Treat your people well or they’ll find somewhere that does - it’s a no brainer!
If you haven’t looked at your parental policy lately, this should be at the top of your 2022 to-do list. Competitive companies are giving primary and secondary caregivers more paid leave, more benefits, and more return to work support. Other policies are also following suit, including miscarriage, menopause, and menstrual leave.
An ESOP (Employee Share Option Plan) is a type of ESS (Employee Share Scheme), which allows employees to receive options to purchase shares, instead of shares which must be purchased outright.
Companies are increasingly jumping on the share scheme bandwagon, so if it’s not on your radar, it may be time to get across it.
ESOP is a hot topic, especially in the start-up/scale-up phase of business, and it allows smaller businesses to throw a hat in the ring when competing for top talent, because we all know that it can get expensive, very quickly.
Before you jump into your grand ESOP scheme, remember, share options are only one part of what you’re offering. Just because you have this in your backpocket, doesn’t mean you can cut corners with salary, progression, or any other benefits. It’s also important to make sure that everyone knows what’s on offer, not just your sales-driven teams.
Candidates are more than ever focussed on finding a company that offers them a meaningful mission, complex and interesting problems to solve and a chance to work on challenging, impactful projects. For that reason, having a marketable vision and strong employer brand has never been more important.
Kiri Evans, Senior Talent Acquisition Partner, Australia, on client site through Talent Solutions
Buoyed by an aggressive war for talent and record demand, 2021 has forced organisations to re-assess their EVPs, partner more collaboratively with their recruitment partners and find more creative means of retaining talent.
Joelle Beaton, Talent Melbourne Practice Lead
Clients are doing all they can to retain their staff - large pay increases and counter-offers, promotions, extra training, WFH etc…trying to get candidates to move is becoming extremely hard.
Kate Reynolds, Talent Perth Sales Team Lead
At Talent, we can help you source those in-demand tech candidates to take your company to new heights. Get in touch to learn how.