There’s no mistake, the tech hiring market in the last 12 months has had its fair share of challenges. With many businesses pushing the brakes on hiring, a lot of roles being made redundant, and projects being put on hold, and candidates and contractors without full time work, topped with rising cost of living and inflation – it’s safe to say it’s been a lot. But this isn’t a doom and gloom blog. The market is showing early promising signs that it’s beginning to rebound.

As an Account Director at Talent, I’m lucky that I get to see firsthand how the hiring market is reacting to the current climate. Our go-to-market hiring team is seeing an increase in roles released and where previous interview processes were sluggish, they’ve begun to pick up. The signs are all pointing positively.

So, where’s the demand? We are seeing this pick up with junior to mid-level positions, however in recent weeks we’ve also seen a renewed interest from different employers in executive search/hire. We have heard from these junior to mid-level candidates that they are now receiving multiple opportunities on the go and the businesses that are moving fast are winning the best ones in the talent pool.

For businesses looking to hire, I’d recommend acting fast. There is still a big supply of highly senior candidates in the market that will bring a fast range of skills. Furthermore, there is still a bit of a “hiring hangover” where some of your competitors may not be moving fast, your advantage in this market as it begins to tighten is your ability to move quickly to snap up key talent.

Let’s talk salaries. Unfortunately for candidates, given the current climate we are in, salaries are down about 10-15% from what they were at their peak in 2022 as an average. You can check out our latest Salary Guide to find out more. However, those roles with niche skillsets are commanding top rates – think Key Account Directors looking after critical customers or specific niche vertical experience with a strong contact book.

If you can’t afford to compete on salary as an employer, there are several other levers that can be pulled to produce a compelling offer. Candidates are telling us flex or hybrid/remote work ranks high in priority as does the ability to “work from anywhere” for a defined period. This is particularly interesting given that Amazon announced just this week that they will be returning to the office 5 days per week from January 2025, a trend we are seeing increasingly across the hiring landscape. Other factors that candidates are considering include company equity/ESOP, training and development, career progression, health insurance, maternity/paternity benefits, proven stability/demonstrated commitment to growth/retention of team.

As we enter the last three months before the end of year, if you’re a candidate hunting for the next opportunity, there is light at the end of the tunnel. If you’re a business, don’t go slow with your hiring process. When things pick back up, those that have got a good rhythm going will be miles ahead.

If you need help with hiring or if you’re a candidate looking for your next role, please feel free to reach out here.