Two months until 2025! What’s happening in tech industry recruitment?
Peter Wharton
Antal International high impact executive recruitment, employee engagement and talent retention services.
Peter is Managing Partner and founder of?Antal International in Geneva - high impact critical tech talent recruitment, development and retention services across Europe and the United States.
Q4 2024 Newsletter. October 30, 2024
Where did this year go? Just over two months before we get to 2025? Really??? So, what happened to recruitment in the tech industry in 2024?
As I have reported previously, 2023 was a turbulent year dominated by large companies restructuring and announcing major layoffs, with many mid-size companies mirroring the same behaviour and a general decline in recruitment.? At the start of 2024 we saw a recruitment market full of contradictions - a mix of increased hiring activity for sure while some companies such as Tesla, TikTok, Amazon and Microsoft, as well as smaller mid-size companies still reduced their work force in the first half of 2024, but the general outlook has become increasingly positive in terms of building and developing teams.?
Q4 2024 Key Market Trends
A Manpower survey released in September on global hiring outlook for the fourth quarter of 2024 was slightly higher at 25%, compared to 22% in the third quarter. The survey of over 40,000 employers across 42 countries showed that more than 40% of them surveyed expect an increase in hiring plans with relatively low unemployment layoff activity in many countries, and we confirm that we are seeing this too.
The continued strong outlook in the IT sector is driving demand for tech talent, especially with AI top of mind for businesses across every industry while retaining and attracting workers with specialised and flexible skills is a priority for employers.
As we move toward the end of 2024, the hiring market remains dynamic, shaped by both opportunities and challenges. From tech and ESG to hybrid work and DEI, organizations that adapt to these trends will be better positioned to attract and retain top talent. For job seekers, staying flexible, continuously learning and upskilling, as well as aligning with industries on the cutting edge will be crucial strategies for success.
Current State of the Tech Job Market
The tech industry has shown remarkable resilience in the face of global economic uncertainties. While some sectors have experienced slowdowns, the demand for skilled tech professionals remains strong. Companies across various industries are continuing to invest in digital transformation, creating intense competition for top talent in these sectors and especially for tech vendors addressing these markets.
Key Trends Shaping the Tech Job Landscape and driving demand for top talent
1.???? Artificial Intelligence (AI) and Machine Learning (ML) continue to be at the forefront of technological innovation. As these technologies become more sophisticated and widely adopted, the demand for AI/ML engineers, data scientists, and AI ethicists has surged.
2.???? With the increasing frequency and sophistication of cyber attacks, cybersecurity remains a top priority for organizations. This has led to a growing demand for security analysts, penetration testers, and cloud security specialists.
3.???? The shift towards hybrid and remote work models has created new opportunities in fields such as cloud computing, collaboration tools, and virtual reality for remote team building.
4.???? As environmental concerns take center stage, there’s a growing market for professionals skilled in green tech, renewable energy systems, and sustainable IT practices.
5. While still in its early stages, quantum computing is gaining traction. Companies are beginning to invest in quantum research and development, creating niche but highly skilled job opportunities.
2025 International Talent Recruitment and Development Budgets
And so with 2024 quickly coming to a close, your 2025 budgets for recruitment, talent development and retention should be pretty much on the way to being finalised, though from conversations with many clients around the world, this is probably not the reality for everyone. And with high inflation, previously stagnant budgets, the impact of D&I, managing work-from-home to work-at-the-office or hybrid set ups and increasing demand for talent across borders, getting it right is more challenging than ever. So how best to plan for 2025 international recruitment? In my latest vlog below I break down the 4 key steps to consider to build solid global recruitment plans and budgets.
?If you need help finalising your recruitment budgets or want to brainstorm roles and responsibilities to best meet your companies 2025 objectives, reach out to me and we will set up a call to review and overcome your challenges.?
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Recruiting critical executives
In fast moving tech sectors, there is a trend away from having separate product management and engineering management executives towards one single Chief Product Officer. As the head of both product and engineering, a CPO?designs the company’s product's vision. This involves them thinking long-term and formulating a plan for the product's future and executing accordingly.? But how to hire a best-in-class Chief Product Officer??? Check out my recent vlog here:
Executive Development - Our Award-Winning Experts Guarantee Unique Experiences!
Mckinsey studies show that two thirds of leaders identify leadership development as their #1 concern in their Human-Capital priorities yet 7% of senior managers believe their companies develop global leaders effectively. 30% of CEOs admit that they have failed to exploit business opportunities fully because of a lack of leaders with the right capabilities. ??
At Antal International we have put together a team of award-winning expert motivators and executive coaches that have been very successful in helping many senior executive prepare themselves to become international leaders.?? Check out the link below for more information and then contact me for details on the program.
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Antal International Geneva Hottest Recent Global Roles
Chief Product Officer ?????????????????????????????????????????????? Analytics & Database Vendor, Germany
Sales and Marketing Vice President?????????????????? Energy Industry SaaS, Netherlands
European Sales Director ???????????????????????????????????????? Aviation Industry IoT Pioneer, UK
Business Development Manager???????????????????????? ID Search Software, Netherlands
Account Industry Executive ????????????????????????????????? ML Industry Processing Software, USA & Europe
Product Manager?????????????????????????????????????????????????????? Aviation Industry IoT Pioneer, Italy
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?Contact
Peter Wharton, Managing Partner Antal International Geneva
pwharton@antal.com