Booming Tech market amidst a looming lockdown
Even though NSW is currently going through its longest lockdown of the pandemic and Victoria is yo-yoing in and out of lockdowns, the job market is booming. In fact, it is the busiest I have seen in the past 10 years.
?But Why?
With the borders being closed, we don’t have a steady flow of skilled migrants entering Australia. As of June 2019, there were 7.5 million migrants living in Australia. In 2020, just over 600,000 migrants on?temporary work visas left Australia due to the pandemic. Even so, the demand for resources particularly in the technology industry continues to increase.
?As we move to more remote work and lifestyle, we rely heavily on products and platforms that keep us connected with our customers, team, friends, and families. Australia is experiencing a surge in tech transformation, not to mention a booming start-up market too, so tech talent is in demand and boy do they know it…
Be Smart (and Quick) When Hiring:
Without the renewal of talent, it will be a very hard market to hire in for some time so when you are hiring, you do need to be wise about it. Make sure you have your EVP (Employee Value Proposition) and you are prepared to sell the role and company to the candidate during the interview. Gone are the days when you could rely on a strong brand or reputation. For many people in the tech field, whether they are actively looking for a role or not, they will have multiple opportunities at any given time. So, you, the hirer, need to stand out amongst the noise. The market moves faster now than ever, so the interview process needs to be fast and efficient - there is no time to delay. If you find them, then snap them up before someone else does and I can assure you they will be gone within a blink of an eye.
?Flex your spec:
?It is also worthwhile reviewing your requirements list. Companies that hire for the right mindset over a shopping list of skills are far better positioned to find, attract, and more importantly keep those individuals. Holding out for the ‘best of the best’ with absolutely everything you think the role requires won’t always work out. Sometimes taking a chance on someone who can bring a different dynamic to the role can be far more beneficial in the long term.
?Nurture the juniors of today and we will have the unicorn tech guns of tomorrow.
?This also goes for people who are career-shifting later in life. By giving them a chance and investing in them now and believing in their ability to get skilled up can bring real industry, life experience and career smarts to a role and in turn the company and team.?Diversity in a team breeds creativity - no team ever succeeded with carbon copies of each other.?
?The main reasons candidates in Tech will opt to join companies now:
?1.???Salary increases and other financial benefits such as shares & bonuses????
2.???WFH long term, no one wants to return to the office full time
3.???Latest tech and greenfield projects
4.??Career growth and ability to make an impact