Tech Talent Landscape: Key Hiring Trends for 2024 and Beyond
As a substantial industry with expected exponential growth in the future, Tech Industry contributes largely economic growth. In the past century, we have witnessed the birth and rise of the tech industry, yet it is estimated to only grow and make life easier for the human race. For an industry as prominent as the tech industry, it is vital that the existing and upcoming talent is cultivated, nurtured and welcomed, and most importantly, their hard work should be timely appreciated and rewarded.
One of the many gears in the tech industry is the IT sector, which provides tech solutions to businesses for their business and tech-related problems. The IT sector includes software management, network administration, data management, hardware management, etc., working diligently to ensure a business runs effortlessly. So, to ensure the plain sailing and success of any business, hiring the right people in the IT sector is the crux of the matter. The IT sector directly contributes to the national and global economy. In the financial year 2021-22, the IT sector accounted for 51 lakh jobs.
So, how can a business ensure that it hires top talent for its IT departments? The solution is as easy as pie: staying updated with hiring trends in the IT sector.
The tech landscape is ever-evolving, which means that things that were useful a few years ago might now be relevant in today’s scenario. That’s why staying ahead of trends is essential to navigate the complex web of talent acquisition. So, let’s discuss these hiring trends in the IT sector and how they help employers find the right employees.>
Keep an eye out for these hiring trends in the IT sector in 2024 and beyond
We have come a long way from recruiting through simple interviews and based on resumés to now leveraging the right screening tools and AI tools to recruit the perfect candidate. Nowadays, there are specific trends in IT sector that one can look out for when hiring a candidate according to the business and time needs.
IT Trends Based on Technological Advancements
- In the modern era, hiring methods have changed from reading a simple resumé for basic skills required for the job to the required skills. Employers are now looking for candidates with the needed skills, such as problem-solving, communication, critical thinking, teamwork, emotional intelligence, people skills, and more. Furthermore, employers are now seeking a different approach and offer remuneration based on these skills in addition to candidates’ basic skill sets. In other words, required skills set the criteria for employment and remunerations.
- Recently, we have witnessed the rise of AI and its use in various fields. AI in the recruitment process helps recruiters and staffing agencies better understand a candidate’s hard and soft skills. AI screening tools provide accuracy in candidate assessments to ensure that employees hired by an employer are a perfect fit for the company. Other than that, technological advancements have led us to ATS tools for recruitment that map an ideal employee to the perfect employer.
IT hiring trends based on economic growth
- Remote and Hybrid work lifestyles are a growing trend and the industry should become accustomed to it to grow in the coming years. This is not only because it encourages better work-life balance for employees but also because it is more economical than the other models. It effectively cuts the cost of massive electricity bills and the company’s commute expenses while providing the same productivity as usual five days a week.
- Upskilling is a relatively new trend in the IT hiring sector. Employers are now looking to hire candidates with multiple skills, specializing in various areas of their field. According to The Economic Times, 88% of the workforce considers upskilling integral to career growth. Providing upskilling opportunities greatly affects a company’s economic growth as it promotes quality over quantity in terms of hiring. It benefits both employees and employers, as the employee enjoys better remuneration, and employers save a fortune with limited talented employees rather than innumerable average employees.
Problems Faced by Employers While Hiring for The IT Sector And Its Solutions
It is essential to stay updated with the trends and times regardless of whether you are facing a problem or not, but some issues faced by recruiters in the IT sector make it more crucial.
First and foremost, even though more than 1 lakh students are enrolled in education in the IT sector, there is a talent shortage. This is due to a lack of upskilling, soft skills, or both among the candidates. Combining this problem with less accessibility to the candidate pool creates a bigger problem.
This is where talent agencies come in as employers’ knights in shining armour. Staffing agencies like TMI Network have access to the talent pool as they process over 240,000 candidates and hire over 15,000 candidates annually. Their better access to the candidate pool, streamlined interview process, and state-of-the-art technological tools lead to quality hiring that is second to none. Staffing agencies often train and help their talents become assets for their companies by cultivating their soft skills, leadership, and solution mindsets. They also account for long-term commitment employees, saving businesses a fortune in resources.
Conclusion
So, you now know the trends, but how can you ensure that you recruit the cream of the crop talents who also fit your business requirements? With the help of talent acquisition agencies such as TMI Network, they have the expertise to match skills to roles and business needs. So, it’s time you leave the traditional way and utilize TMI Network’s next-gen HR services to optimize talent just like 600+ companies have in the past three decades, and find yourself reliable employees at the feat of success.