Welcome to a special instalment of Leading the way, where we spotlight our female-identifying contractors and pull back the curtain on the interesting and diverse work they do in the tech industry. Here at Talent, we’re strong advocates for gender diversity in tech and the wider workforce, and we know that this advocacy doesn’t stop at International Women’s Day. As part of the ongoing conversation, we aim to platform our contractor community and highlight their experiences. Today we’re joined by Brisbane-based contractor, Lynn Koo.

Tell us about your current role and career background.

I am currently a Business Analyst at UQ, leveraging a rich background in project management, systems training, and business process improvement. With each project, I meticulously blend a keen eye for innovation and an unwavering attention to detail, driving meaningful change within my organisation.

What’s the most challenging aspect of your role?

Navigating the intricacies of ensuring requirements are not only complete but also crystal clear presents a delightful challenge. However, it’s in overcoming these obstacles that I find immense growth and satisfaction.

What’s your favourite thing about your job?

My heart sings when I collaborate with my team during user acceptance testing. Witnessing diverse perspectives converge to ensure rigorous testing and successful project launches is truly empowering. It’s a testament to the strength of collaboration and inclusivity.

What has your experience been like as a woman in a male-dominated industry?

In a realm often dominated by males, I’ve embraced the opportunity to adapt and thrive. By understanding and valuing different communication styles, I’ve cultivated relationships that transcend gender barriers, fostering an environment of mutual respect and collaboration.

Do you have a role model who has inspired you?

My journey is enriched by the wisdom of inspiring figures: my partner, my former boss, and my mentor. Their unwavering support and belief in my potential fuel my determination to continually evolve and exceed expectations.

What advice would you give your younger self/someone who wants to enter the industry?

If I could go back and advise my younger self – or anyone entering the industry – I would offer this guidance: Embrace every opportunity to learn and grow. Fearlessly step beyond your comfort zone, and let your voice resonate with unwavering confidence. Remember, in unity, we break through glass ceilings and pave the path for generations of trailblazers to come.

At Talent, we’re proud to represent and support a global network of over 5,000 active contractors. Helping professionals unleash their potential has been the foundation of our business for over 25 years, and we’re not stopping yet. Learn more about the contractor community at Talent and how we can help you build your dream career here.

In 2024, we’re seeing the immense salary growth of the past few years start to plateau and salaries begin to stabilise. However, with skills in data, AI, and cybersecurity remaining in high demand, there are a few roles where candidates can expect to earn more. We look into the top 10 highest paying tech roles in Australia for the year ahead.

10. Senior Data Scientist

Providing advanced expertise on statistical and mathematical concepts for the broader Data & Analytics department, the Senior Data Scientist applies and inspires the adoption of advanced data science and analytics across the business.

So, which skills do you need to possess to succeed in this role in 2024? Talent Sydney recruitment expert, Alan Dowdall, breaks it down. “Buzzword bingo – Machine Learning, AI, Big Data and algorithms are part and parcel of a day in the life of a Senior Data Scientist. The ability to look at the big picture and identify value for companies is the role in its simplest form.” On top of being well-versed and skilled in data, Alan shares that “the best Senior Data Scientists will mentor more junior team members who are often coming from the education system with limited commercial knowledge”.

Looking to the year ahead, Simon Yeung, Talent Melbourne Managing Director notes that “data-driven decision-making will remain a priority. Companies will invest in advanced analytics tools, big data management, and business intelligence platforms to derive actionable insights and drive strategic initiatives.”, highlighting that demand for professionals with data skillsets is only set to grow.

Expect to earn (AU average):

Permanent – $186k per year

Contract – $140 per hour

9. Solutions Architect

Tasked with assisting in the build of new systems needed by their company, the Solutions Architect must be able to identify their business’ current problems and future technological goals. Talent Sydney recruitment expert, Elliott Howard, shares the technical know-how these professionals should possess and the soft skills beyond the tools they also need to hone. “Coming from a strong technical background, Solutions Architects are now at the point of their career where they are moving away from the day-to-day hands-on engineering to focus on design and architecting solutions. There is now a strong focus on Solutions Architects to work closely with business and technology stakeholders to understand their requirements before partnering with the engineering team to implement the design, and therefore require candidates to have exceptional communication and stakeholder engagement skills, with an ability to articulate and explain technical jargon in plain English”.

Expect to earn (AU average):

Permanent – $189k per year

Contract – $156 per hour

8. Infrastructure Architect

The Infrastructure Architect is responsible for assessing existing company systems to determine efficiency and security. They are tasked with designing and implementing information systems to meet business needs and improve performance. Taliya Lukeman, Talent Adelaide recruitment specialist notes that “when it comes to tech skills in demand, Infrastructure is at an all-time high”. With strong market demand for Infrastructure skillsets, the Infrastructure Architect is able to command higher salaries and rates – so much so that contract rates in this space have seen an increase of up to 35%, according to our Talent More Than Money Salary Guide 2024.

Expect to earn (AU average):

Permanent – $190k per year

Contract – $151 per hour

7. Business Intelligence Architect

The Business Intelligence Architect is responsible for processing large stores of information to draw intelligent findings and communicate these to the business. Alan Dowdall breaks it down. “BI Architects are the people who ensure companies are collecting the right data that drives business-focussed insights. They make the dark arts of Power and Tableau look extremely easy”.

With data skillsets dominating the list of fastest growing skillsets in 2024 according to LinkedIn Talent Insights – think a 56% growth in professionals with Microsoft Power BI skills since 2023, and a 50% growth in Microsoft Azure – it’s clear that data is a large focus area in the market, attracting those higher salaries in 2024.

Expect to earn (AU average):

Permanent – $195k per year

Contract – $142 per hour

6. Cybersecurity Manager

The Cybersecurity Manager is responsible for developing and implementing security strategies, managing a company’s security operations, ensuring regulatory compliance, and leading incident response efforts. As cyber threats only increase, Talent Sydney recruitment expert, Elliott Howard notes that demand for cybersecurity professionals is only on the up. “There have been supply and demand issues for cyber resources for a number of years, and the recent high-profile cyber incidents have further exacerbated this. Demand has definitely increased as employers look to build up their existing cyber teams and defences.” It’s the same story in Victoria, with Talent Melbourne Managing Director, Simon Yeung, predicting that over 2024, “with the persistent threat of cyberattacks, businesses will invest heavily in robust cybersecurity measures to safeguard their data, systems, and customer information.”

Expect to earn (AU average):

Permanent – $202k per year

Contract – $163 per hour

5. SOC Manager

With cybersecurity one of the biggest business priorities for the year ahead, it’s no surprise that another cybersecurity role makes the list of highest paying tech roles. The SOC Manager leads the security operations team, manages high-level IT security issues, and offers training and technical guidance to their people. Elliott Howard observes that demand is strong for SOC Managers in the market as companies look to lock down their systems, “Organisations are currently faced with either outsourcing their cyber protection to a third party vendor or trying to build this capability in-house. In the latter scenario, a SOC Manager is an integral piece of achieving this outcome”.

Expect to earn (AU average):

Permanent – $205k per year

Contract – $167 per hour

4. Programme Manager

Responsible for overseeing designated projects within an organisation, the Programme Manager is tasked with planning and developing strategy, including defining the goals and timeline for the projects they supervise.

So, what else is critical to achieve success in this role in 2024? “Programme Managers will have come from a strong project management background, with experience delivering a variety of projects, managing budgets circa $10 – 20M+, and reporting to steering committees on the progress of the program”, states Elliott Howard. Looking at the bigger picture, “they are ultimately responsible for the delivery of large project initiatives”.

Expect to earn (AU average):

Permanent – $210k per year

Contract – $160 per hour

3. Cloud Architect

With cloud-based technologies evolving and the growing dependence on these systems for information storing and sharing, the role of the Cloud Architect has become increasingly important. “The migration to cloud-based services and infrastructure will continue to accelerate. Investments will focus on optimising cloud environments, enhancing scalability, and integrating multi-cloud strategies to improve flexibility and performance” shares Talent Melbourne Managing Director, Simon Yeung. This is particularly true across the tertiary education sector in Australia, with Talent Sydney recruitment expert, Majella Sanders noting that “many universities are assessing their enterprise systems including their ERP and cloud platforms. As such, there is significant demand for cloud platform specialists, and integration and migration specialists”. As cloud migration projects grow in prominence, we can only expect that demand for these professionals will continue rise throughout 2024, seeing salaries remain at a high.

Expect to earn (AU average):

Permanent – $212k per year

Contract – $156 per hour

2. Cybersecurity Architect

Increasingly necessary to an organisation are Security Architects, management-level professionals who oversee the security of an organisation’s network. These professionals are needed when the network is first designed, built, and implemented, as well as throughout the entire lifecycle.

Elliott Howard shares the importance of this role in the modern workplace. “Cybersecurity is an essential component of any IT department’s makeup, with the Security Architect responsible for designing, building, and implementing security solutions within their IT environment. This can cover the full gamut of cybersecurity and as such, prospective employers will want candidates who have significant experience working across a number of cyber disciplines”.

Elliott also shares that harnessing transferrable skills can go a long way for those looking to break into this role. “We have noticed a trend of candidates with strong network security or defence experience transitioning into cybersecurity.”

Expect to earn (AU average):

Permanent – $222k per year

Contract – $164 per hour

1. Enterprise Architect

A technology agnostic mindset is key for the highest paying tech job on this list – the Enterprise Architect. Responsible for overseeing and maintaining their company’s IT services and networks, these professionals need to be at the top of their game when it comes to being aware of the latest trends in tech. According to Elliott Howard, “this is a big picture role, engaging with senior stakeholders from across the business, using their technical expertise along with their influencing and negotiation skills to help shape the technical direction and future state of their IT environment”.

Expect to earn (AU average):

Permanent – $234k per year

Contract – $172 per hour

Interested in the average salary for your role and how you can get ahead in the current market? Check out our More Than Money Salary Guide 2024. Looking for your next role? Visit our job search for hundreds of opportunities in tech, transformation and beyond.

*Excluding C-Suite roles

– Permanent salaries are exclusive of superannuation

In today’s rapidly evolving digital landscape, the role of AI in shaping the future of business cannot be overstated. At Talent, we firmly believe that success lies in embracing transformative technologies, rather than shying away from them. It is with this vision in mind that we have developed our own generative AI technology through our project delivery brand, Avec.

Named “Hello Sumo” after its developer Anthony Tockar’s (Practice Lead Data/AI) beloved dog, who is a regular guest in our Sydney office, this technology provides our people with a private and secure alternative to other open source AI tools. Built on Talent’s ecosystem, Hello Sumo’s security infrastructure enables us to securely input and store company information, empowering employees to leverage valuable data while safeguarding our cyber assets.

Hello Sumo represents the culmination of our commitment to delivering tangible value in the AI space. It stands as a testament to our dedication not only to embracing AI but also to doing so responsibly, with a keen focus on data security and privacy.

It’s natural to feel apprehensive about new technology – I recall a time when people were concerned about LinkedIn replacing recruiters! However, as we learned from that example, technology has the potential to enhance productivity for those who are forward-thinking enough to embrace it.

Our journey with Hello Sumo is just one of the many exciting AI streams we are working on, each aimed at helping organisations to “get s#!t done, better” – to reference Avec’s mission statement.

We’re thrilled to offer Hello Sumo to our clients who understand the benefits that generative AI can provide to employees but are concerned about privacy and security. Reach out to the team if you’re interested in how it could work for you.

Let’s not just embrace the future; let’s shape it together.

And yes, Hello Sumo helped me proofread this article. He’s a good boy.

When it comes to startups, you are who you hire. But getting hiring right can be incredibly challenging, especially if you’re a founder who has to wear many hats. While navigating the hiring process can be complex, with the right knowledge and strategies, you can assemble an extraordinary team to propel your venture forward. Through many years working with startups and scale-ups at all growth stages, we and our partners at SmartRecruiters have seen firsthand the common pitfalls that they typically encounter in the hiring process. Here are some of the key hiring considerations for startup founders:

1. Maintaining culture during rapid growth and change.

One of the biggest challenges for startups is maintaining their unique culture as they rapidly grow and undergo changes. It’s crucial to ensure that as new team members come on board, they align with the company’s values and mission. Founders must actively foster a culture of transparency, communication, and inclusivity, even as the team expands. Regular check-ins, team-building activities, and clear communication of company values can help reinforce the desired culture.

2. Effective workforce planning: getting the right skills in at the right time.

Workforce planning is essential for startups to ensure you have the necessary skills to drive their growth. Identifying skills gaps and prioritizing hiring accordingly is key. Founders often find it challenging to delegate hiring decisions, but empowering leaders within the organisation to make informed hiring choices based on the skills the business needs can streamline the process and ensure the right talent is brought on board at the right time.

3. Building an employer brand.

Developing a strong employer brand is vital for attracting top talent to a startup. Startups often lack the brand recognition of larger, more established companies, making it crucial to articulate a compelling vision and value proposition for potential employees. Founders naturally have incredible passion for the work their company is doing and their vision for the future. We understand that harnessing this energy into a standout brand presence among your potential future employees isn’t an easy task when you’re also trying to build a brand to attract customers and investment, too. Nevertheless, it’s an essential activity and we recommend a focus on showcasing the company’s culture, mission, and opportunities for growth. It’s also important to “pull back the curtain” and give prospective candidates an idea of what it’s really like to work with you. Informal “day in the life” style content is very effective for quickly accelerating your employer brand.

4. Implementing and maintaining the right tech stack.

Choosing and managing the right recruitment and HR technology stack is essential for startups to operate efficiently and scale effectively. It’s essential to select technology solutions that can adapt and grow alongside the business. Whatever you choose to implement, make sure the analytics capability provides valuable insights into the effectiveness of hiring processes and enable data-driven decision-making. Additionally, ensuring that there are dedicated resources to manage and maintain the technology stack prevents it from becoming a burden on existing team members. As we say, just because you can drive a Ferrari, doesn’t mean you can service it.

Ready to transform your startup hiring strategy? Contact us today to learn how Talent Solutions and SmartRecruiters can help you achieve hiring success in your business. And check out our A-Z Hiring Guide for startups for even more top tips.

What’s the latest when it comes to the permanent and contract hiring markets across Australia and New Zealand? With a slowing market as a result of an economic downturn, the hiring landscape is shifting. We explore the latest trends in hiring across both groups, providing you with an exclusive look into what to expect for the year ahead.

A preference for perm

As a sense of uncertainty permeates the market, jobseekers are looking for greater stability in their roles, with many seeking out permanent or fixed term positions for greater job security. In fact, in a 2023 Talent survey, 34% of contractors cited that they were open to future permanent opportunities.

Katie Kemp, Talent Wellington recruitment expert sheds light on how this is playing out in New Zealand, “With cost-of-living pressures and post-election flow on, there’s an element of uncertainty for people and an increased focus on security in their work. The last six months or so has seen hesitation in the market coupled with work programme cancellation and an increase in the number of people available for this work. This combined with the pre-election dialogue on contractors and consultants saw some movement toward permanent roles for this sector and downward pressure on contractor rates”.

Stefanie Mortimer, Talent Auckland recruitment expert, also observes that jobseekers are seeking out greater stability in work and are opting for roles with longer tenure, “Stability and security continue to be important to candidates and longer-term contracting opportunities are much preferred.” In Australia, there’s a similar trend amongst contractors, with Talent Melbourne Managing Director, Simon Yeung predicting that, “Career contractors will look at permanent opportunities for security.” This desire for stability has seen a shift towards a preference for longer term or permanent working arrangements, particularly with rising cost of living pressures and an uncertain market.

Cuts to contractor spend

Looking at the contracting market, contractor spending cuts are occurring across a number of our regions. In NZ in particular, the government has announced plans to cut contractor spending over the next 4 years, with the goal of reducing current spend by 18%. Resultantly, the contractor market is starting to slow, seeing greater demand for permanent candidates instead. Looking at Talent’s hiring data from October 2022 to October 2023, federal and state government layoffs and hiring freezes across Australia have resulted in a 16% decline in contract hiring in this sector.

Talent Sydney Managing Director Matthew Munson comments on where spending cuts are occurring and the impact this is having on the local market, “The NSW Government continues to look to make savings through contingent workforce cuts. Some Government agencies have looked to make savings by implementing a max two-year tenure rule although this isn’t working too well as they struggle to backfill the IP with permanent employees or fixed term engagements.”

In New Zealand, it’s a similar story, with Georgia Hynes, Talent Wellington recruitment expert noting the effect of these cost-cuts and how organisations are attempting to keep their best people on board, “Demand for candidates is down and many contractors are not being extended. Government departments are also working on reducing contractor spend. Employers understand that career contractors are likely to want to go back to contracting once things pick up, so they’re more likely to come out with fixed term roles to prevent a sudden loss of IP.”

Looking ahead: what to expect from the employment market

What can we expect in the hiring market for the year ahead? Talent Melbourne Managing Director, Simon Yeung, observes that, “Employers, grappling with the need to curtail contractor expenditures and adhere to budget constraints, will encounter challenges in securing the necessary talent and expertise. As a response, some employers are transitioning contractors into permanent roles, although this may introduce retention issues as candidate rates fluctuate.”

The market however, looks to be recovering, with Talent Sydney Managing Director, Matthew Munson, noting that, “There are some positive signs the economy is finally improving, suggesting that investment and hiring will begin to recover in 2024”. What does this mean for both the permanent and contract hiring landscape? It’s anticipated that economic improvements will have a positive impact, seeing a steadying of both markets.

If you’re looking for top contract or permanent talent to join your team in 2024, we can help. Working with professionals in tech, transformation and beyond for more than 25 years, we’ve learned a thing or two about what they want. Get in touch to uncover how we can help you build world class teams.

Are you looking to hire in 2024? Here’s all you need to know to navigate the complex employment landscape across Australia and New Zealand. Our recruitment experts share their insights and predictions to equip you with the knowledge you need to get ahead.

2024 recruitment trends

1. The scales of power are tipping

Is it an employer’s market or a jobseeker’s market? Well, it depends. Across ANZ, the tech hiring market is slowing down due to an economic downturn, which is seeing a number of companies cut costs and tighten their budgets – a stark contrast to the fast-paced, candidate-driven market of 2021-22. As a result, recruitment is slowing down across certain job families – especially Project Services – resulting in more candidates in the market than jobs on offer. Talent Sydney recruitment expert, Shane Hodgins notes “Where there has been a slowdown in the market is in the project services space – many companies are putting their projects on hold as budgets for IT projects are being cut. Generalist IT project managers are most affected by this.” In this space, we’re therefore seeing the scales of power start to tip in favour of the employer.

This doesn’t mean hiring managers hold all the cards though. For in-demand skillsets, such as cybersecurity, data, and artificial intelligence, candidates remain firmly in the driver’s seat as companies increasingly recognise the importance of securing their systems, leveraging data, and adopting AI. With more choice available for these jobseekers, Talent Sydney Managing Director, Matthew Munson, notes that while “we have seen the cooling of salaries across many job families, hard to find niche talent will always test the top end of what the market has to offer.”

2. In-demand roles are demanding dollars

With the market shifting in 2024, remuneration is also experiencing movement. According to Talent NZ Country Manager, Kara Smith, “cost of living and inflation increasing will continue well into 2024 and beyond. Candidates are seeking higher salaries to compensate for this, yet organisations are driving cost-conscious decisions.” Resultantly, many job families are seeing a slowdown in salary growth. In the domain of Project Services, salaries and contract rates have dipped by as much as 15-25% due to many companies placing their projects on pause in a bid to cut costs. However, this isn’t the case across all job families and positions.

The roles commanding the highest pay? Those in Cybersecurity, Data Analytics, and Cloud Solutions. Our Talent More Than Money Salary Guide 2024, highlights that Cybersecurity salaries have increased 25-35% since 2023 and Data Analytics 12-23%. When it comes to contract work, Cybersecurity rates are up 15-30%, Data Analytics 18-25%, and Cloud Solutions 10-25%. Talent Sydney recruitment expert, Shane Hodgins, comments on this trend “cybersecurity professionals are still in high demand. Hands-on technical roles such as penetration testers and security engineers, are highly sought after, and we’re seeing more roles in the market than candidates available. Resultantly, salaries have remained high at post-COVID levels for these candidates.”

3. Sourcing beyond borders is on the rise

In 2024, many companies are looking beyond national borders for candidates to fill their vacancies, particularly in tech and transformation. In Australia, our Talent recruitment experts note that large companies have increased their offshoring by an estimated 10-40%. Talent Sydney Managing Director, Matthew Munson, comments “a conservative estimate would say about 30,000 Australian companies offshore technical skills. It has accelerated over the last 12 months and the signs are that it will continue, because local salaries are very high, there is a skills shortage, and this move to remote work is making it a lot more appealing to hire people offshore.” In New Zealand, Talent Wellington recruitment expert, Georgia Hynes, also comments on the impact of remote work in enabling the sourcing of candidates from beyond national borders, “many organisations from the US and Australia are still dipping into the NZ candidate market for remote working, particularly in the developer space”.

4. Unemployment is up

In late 2023, both Australia and New Zealand’s unemployment rates increased to 3.9%, up from 3.8% and 3.6% respectively. With an uncertain economy, company layoffs, and growing cost of living pressures, there are more candidates on the market than before, seeing a stabilisation of salaries and contract rates in comparison to the candidate-driven market of previous years. Talent Wellington recruitment expert, Katie Kemp, observes that “COVID and the shortage of talent in the market saw people look to negotiate or secure higher salaries, however there is a level of market correction coming into play now, combined with organisations looking at their expenditure and relativities more closely”. Is this a trend that’s likely to continue? Our recruitment experts predict that…

5. The market will recover

It’s not all doom and gloom in the employment space. In fact, it’s anticipated that things will start to pick up when it comes to hiring. According to LinkedIn data, while the LinkedIn Hiring Rate in Australia decreased by 7.2% from January-June 2023, as of December 2023, it increased by 1.7%. Talent Melbourne Managing Director, Simon Yeung, predicts that over 2024, hiring will be on the up. “Looking ahead, the IT job market is anticipated to experience growth, fueled by the adoption of advanced technologies like AI, cybersecurity, and blockchain by Australian tech firms. The demand for skilled professionals in cloud computing, data science, and software development is poised to rise as businesses prioritise digital transformation.” In New Zealand, Talent NZ Country Manager, Kara Smith, also observes a shift in the market “As we enter 2024 the market is feeling more optimistic than the last few months of 2023”. She cautions “just like we saw post-COVID, businesses can only halt projects, investments, initiatives for so long. In a world where cybersecurity is a top priority, investing in tech teams is a worthwhile long-term strategy.”

Need a hand navigating this hiring landscape?

We can help. At Talent, we’ve been working with top candidates in tech, transformation and beyond, since the birth of Javascript. For over 25 years, we’ve placed thousands of professionals across almost every sector to the world’s leading companies. Let us help you get ahead in the recruitment market and connect you with a world of leading tech and transformation experts to boost your teams. Get in touch today.

The global talent market has never changed this much, this quickly. In 2023, TechCrunch reported over 240,000 jobs were made redundant — that’s up from 164,969 in 2022.

Australia’s tech Startup sector felt the effects of this market the most. According to data from Cut Through Ventures, total funding raised for Australian technology startups in 2023 fell by $4.2 billion compared to the year before and the number of deals struck has declined 42 percent year over year.

This current market has seen companies pull back their focus on growth at all costs to favour profitability or sustainability and need to raise less.

Despite these layoffs and reduced funding, economy-wide demand for tech workers remains high. Earlier this year, Tech Council reported that for every job lost in the tech sector, 20 jobs were created across indirect tech companies.

And while it seems that the market pressures have eased somewhat, this would suggest a turnaround at some point, even if it took a while, giving us a reason to be optimistic.

Taking a look back over the past year’s hiring trends:

• Year-over-year decline in hiring — the rate of decline is slowing in certain regions and countries, which we can take as a sign of stabilisation.
• Rebalance in labour markets — meaning employers are hiring, but at a more cautious pace, and employees are staying put for longer.

According to Seek data, job adverts nationwide are down 30 per cent in Nov 2022-Oct 2023 vs Nov 2021-Oct 2022. Which is a far cry from the activity and movement we experienced over the same period Nov 2020-Oct 2021.

For the past number of years, the war for talent has been rife, and while there may be some relief in sight, the challenge of securing exceptional talent remains perpetual for rapidly expanding enterprises. Entrepreneurs consistently cite hiring as a crucial competitive advantage and a significant ongoing challenge, with the difficulty lying not only in attracting personnel but also in retaining them.

As many employers will have experienced an increase in job applications, there are a number of factors that are driving this, particularly population growth. Australia’s population grew by 2.2 per cent to 26.5 million. Pre covid net migration was estimated to be between 150,000-200,000 per year — that number is estimated to have increased to 500,000-600,000 on average for the past 2 years, a catch-up effect after closed international borders.

Predictions for 2024

AI and AI regulation

The continued integration of technology and automation may lead to job displacement in certain industries. However, it could also create new opportunities for jobs related to artificial intelligence, data analysis, cybersecurity, and other tech-related fields.

Data Privacy overhaul

There will be developments in response to growing concerns about the protection of personal information and the increasing role of technology in our lives.

Deep Science

There is a powerful push for Australia to take on greater risk in the development and commercialisation of emerging technologies, particularly in the fields of quantum computing, renewable energy and biotechnology. As an increasingly vocal Australian tech lobby pushes government to invest more in world-changing technologies in high demand.

Australia will lead the green tech revolution — across the entire supply chain

Critical minerals are fundamental to the world’s clean energy transition. They are vital for electric vehicles, wind turbines, solar panels, electrolysers, fuel cells and rechargeable batteries. Global demand for critical minerals is forecast to grow by roughly a third each year into the future. And this has naturally put Australia in an important, pivotal position. Australia’s critical minerals can be found in a broad range of electronics, our solar technologies are powering cities, and our sustainable farming practices are transforming food production. According to a report led by EY, Australia ranks number 6 globally on the renewable energy attractiveness index.

Additionally, a mutual agreement signed in 2023— called the US-Australia Climate, Critical Minerals and Clean Energy Transformation Compact, aims to coordinate investment and collaboration in the development of the critical mineral and clean energy industries. The deal means Australian companies can supply critical minerals and renewable energy to the US and be treated as a domestic supplier, with benefits for a range of tech sectors beyond renewables, including semiconductor and microchip makers.

Healthcare and Biotechnology

The healthcare industry is expected to continue growing, driven by an aging population and advancements in medical technology. Jobs in healthcare, biotechnology, and pharmaceuticals may experience sustained demand.

Ready to supercharge your talent team and bring the best candidates on board in 2024? We can help. Learn more here.

The tech hiring market is shifting, seeing the scales of power continuing to tip between candidates and employers. So, who holds all the power, and does it only belong to one group? With exclusive insights from our recruiters across Australia and New Zealand, we dive into current tech hiring market trends to uncover who really has the upper hand. Let’s get into it.

What does the current market look like?

While the current tech hiring market is characterised by a greater sense of caution and conservatism – a stark contrast to the frenzied, candidate-driven hiring market of 2021 and 2022 – it doesn’t mean that demand for top tech skills is out the window. While the scales have started to tip in favour of the employer, with an influx of candidates in the market due to recent layoffs, there is more to the debate than this. Our recruitment experts share both sides, uncovering the nuances of this evolving market landscape.

An employer’s world

Throughout 2023, the market has experienced almost 250,000 layoffs across over 1,100 tech companies globally, resulting in a significant influx of talent to the market and more candidates available than roles on offer. Employers have subsequently found themselves holding the power across numerous roles, seeing a slowdown in the unprecedented salary rises of 2021 and 2022.

This particularly holds true for those in project services positions – think, your Project Managers and Business Analysts – where we are seeing slowed demand as companies cut costs and press pause on their projects.

Shane Hodgins, Senior Account Manager at Talent Sydney observes, “Where there has been a slowdown in the market is in the project services space – many companies are putting their projects on hold as budgets for IT projects are being cut. Generalist IT project managers are most affected by this. Where they have been let go and previously would have been picked up within weeks, many are taking longer to secure their next role as there aren’t as many project services functions available for them to work in.”

In New Zealand, 2023 has been a year of flux – something the tech hiring market was not immune to. JP Browne, Talent Auckland Practice Lead notes, “Auckland’s serious weather events at the start of the year caused a lot of organisations to put projects on hold. Inflation then hit and there was uncertainty around the economy. Put an election in that mix and we saw a lot of employers holding on to see what was going to happen. The demand for Project Services talent therefore remains low.”

Talent Wellington Managing Director, Nik King-Turner also weighs in, “2023 saw a huge increase in supply of amazing talent onto the market with many struggling to secure work as there were fewer roles to go around. With candidate supply high and job demand only slowly increasing, organisations are in the driver’s seat to have more control over rates and salaries that are paid.”

So, while it appears to be an employer’s market, is this really the case across all tech roles?

A case for the candidate

Despite layoffs and the flood of candidates in the market, the tech skills shortage remains and is only growing. With businesses seeking to leverage the power of AI, secure their cyber defences, and harness the capability of data, the demand for tech professionals to lead these programs of work has only grown. This has seen top AI, cyber, and data experts remain in high demand, with employers competing to secure this talent for their teams. With a shortage of qualified tech professionals on the market, top candidates who possess these skillsets are finding themselves in the driver’s seat, with more choice on offer and the ability to command those higher salaries.

Shane Hodgins notes, “Cybersecurity professionals are still in high demand. Hands-on technical roles such as penetration testers and security engineers, are highly sought after, and we’re still seeing more roles in the market than candidates available. Resultantly, salaries have remained high at post-COVID levels for these candidates.”

Talent Sydney Practice Manager, Alan Dowdall also observes that, “The market is in an interesting place currently. In certain job categories, mainly Project Services & Change, we see applications increasing tenfold from 18 months ago, with applicants getting a response to less than 10% of roles applied for.” Despite this, Alan notes that certain positions aren’t seeing this increased candidate competition, and instead, are experiencing the opposite. “Accomplished mid-level Software Engineering, Cyber, and DevOps professionals are still highly sought after. In these professions, demand outstrips supply, and the expectation of passive candidates to consider a move remains strong.”

The final verdict

There is no singular way to characterise the current tech hiring market. While project roles are down and employers hold the power in this sector, cyber, data, and AI roles are on the up and candidates are in control. It’s both an employer and candidate’s market. So, what can we expect for the next 12 months?

Looking ahead

Moving into 2024 and beyond, we know that the tech shortage isn’t going away anytime soon. As tech only evolves, and with it, presents new opportunities and risks, the right tech professionals are needed at the helm to guide companies forward.

Joelle Beaton, Talent Melbourne Practice Lead comments that, “Although there is malaise surrounding the broader economic climate, in the tech sector, analysis from Deloitte shows that 1.8 million new tech skills will be needed by 2030, an increase of 1.3 million on today’s levels. At a minimum, Australia will need 445,000 more technology skilled workers by 2030 to keep pace with international economies. With demand at these levels, I feel this sector will continue to see steady employment opportunities for both permanent and contract workers throughout 2024. Much of the demand will be in security, data and AI-related disciplines.”

Are you looking to recruit top tech professionals for your cybersecurity and data teams? Or are you a tech professional ready for your next opportunity? Check out our job search or get in touch with us to discover how we can help.

Cybersecurity professionals remain in high demand as the Australian market continues to struggle with talent shortages. In a recent whitepaper Talent has released, the salaries, skills and experience needed to keep our businesses safe is severely lacking.

The whitepaper features salaries, skills needed, challenges currently being faced and trends and predictions for key cybersecurity positions in 2023. It also features insights from Talent’s Account Management team, as well as anonymous insights from cybersecurity professionals across ANZ and the US.

Key findings include:

• There’s significant demand for cybersecurity talent due to recent high-profile cyber incidents
• There’s a shortage of qualified and/or skilled cybersecurity talent – Research has revealed that 60% of global IT and cybersecurity leaders struggle to hire qualified cybersecurity candidates
• Seniors and specialists are in high demand – A Head of Digital at a retail client notes that they are seeking to hire “Cyber Architect and Cyber Consultant professionals who possess technical depth and are able to consult and talk business risk to the internal stakeholder. These are quite senior roles which I see are in short supply within the market”.
• Salary expectations from candidates are high, even if they don’t necessarily have the experience or qualifications to command these higher salaries

Skills in highest demand are:

• Cloud computing security
• Offensive security
• Security operations
• Artificial intelligence

Predictions for 2024 and beyond:

• Regulation will increase
• AI will present new risks
• Digital fraud will rise
• Employee training will be a priority

Insights from the anonymous cybersecurity professionals include:

• “If I’m hiring tomorrow, it’ll be a junior / mid-level person with a couple years of technical experience with the right attitude and mindset. Good generalists are hard to come by.”
• “Currently I lead a team of level 1 and 2 security analysts and over the past 6-9 months I’ve had to hire. Given what we do, we tend to look for entry to mid-level experience to fill these roles, and cost is a big factor. What I’ve found is that those entering the market with little to no experience (or at least relevant experience) are commanding more in terms of salary. This is putting pressure on the profitability and competitiveness of the services we deliver.”
• “A great communicator will achieve more than a brilliant tech in some cyber roles.”

Insights from the Talent and Avec team include:

Michael Megally, Avec General Manager, “Cybersecurity can’t all be left up to your IT team. You can build the biggest cyber defence in the background, but your people are your biggest vulnerability. Training your people is the biggest defence you can have for cybersecurity.”

According to our Sydney cybersecurity recruitment expert, Elliott Howard, large consultancy firms and banks rolling out cyber graduate programs to grow internal teams has had a strong impact on salary expectations. “While these programs have had a positive impact in increasing the pool of cyber candidates in the market, they have also resulted in candidates with only a couple years of industry experience asking for very high salaries which does not correlate to their experience. However, strong competition for cyber resources has meant that these less experienced candidates are able to attract the higher salaries and rates, resulting in enterprise sized companies with large cyber teams and strict salary bandings struggling to match these salaries. They have therefore been unable to attract candidates, resulting in vacancies and extended periods of time to recruit.”

You can download a copy of the report here.

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Talent has taken out two wins in the 2023 APSCo Awards for Excellence; Best Brand and RPO of the Year.

In the Best Brand category, Talent was recognised by APSCo for excellence in upholding and communicating its brand values; Lead the Way, Strive for Better, Give a Damn; and delivering exceptional experiences for contractors and clients through resources.

In the RPO of the Year category, Talent was recoginsed by APSCo for excellence in promoting and demonstrating a commitment to best practice in the RPO sector. Talent’s outsourced recruitment experts showcased their commitment to designing, building and managing Talent Acquisition functions that differentiate their clients from their competition.

Talent Managing Director, Marketing, Chloe O’Toole, commented on what this award means to the company. “Over the past five years, our brand has undergone a transformative journey, driven by our values: Lead The Way, Strive For Better, and Give A Damn. These values have become much than words on a page. From delivering exceptional experiences to contractors and providing hiring managers with resources for building successful teams, to our work supporting young people who face challenging employment barriers, our values guide everything we do, and we are so proud to have this recognised.”

Tom Mackintosh, Talent Solutions Managing Director, commended the team on their brilliant work. “Our deployed Talent Acquisition partners do the research and put in the work to design, build and manage Talent Acquisition functions that differentiate our clients from their competition. It’s about so much more than outsourcing for us, we become part of their teams and take on their challenges as our own.”

In September, NSW Treasurer, the Hon. Daniel Mookhey MLC, handed down the 2023-2024 State Budget. A budget that looks back on economic challenges, high levels of spending, gaps in essential services and constrained wages growth to move forward with new plans and stability.

Talent NSW Government recruitment specialist Steve Tompkins looks at what this budget could mean for jobs and hiring across the state:

Overall, this budget from the Minns Government sees lots of investment in physical infrastructure across transport, schools and hospitals – tangible things voters can see and touch.  The budget allows for pay rises to public sector workers, claws back some infrastructure spending excesses, and extends some cost-of-living assistance (without adding to inflation).

We aren’t seeing radical cuts to expenditure beyond scrapping some of Coalition’s pet projects and funds. This is a budget that should deliver very little pain for voters.

On the jobs front, the increase in wages for permanent staff may shift the mix of permanent and contract staff, with permanent positions becoming more attractive to some candidates.

Let’s get into the detail.

Health

The major budget allocation for Health will be for hospitals, with considerable funds being spent in the regions on the new Eurobodalla Hospital and the redevelopment of Bathurst Hospital, and $13.8bn for wider Health infrastructure.

$2.5bn will recruit 12,000 nurses and healthcare workers. This will impact IT projects as Local Health Districts look to onboard and schedule these new resources. Implementation of cloud and scalable solutions will benefit these Local Health Districts as their workforces grow and change – keeping their technology in line with their growing workforce.

Education: The largest investment in a decade

Secondary and further education benefitted from the largest investment in a decade as the Government pledged $9.8bn to Education over next 4 years including 24 new and 51 upgraded schools in Western Sydney, more in NSW (19 new and 35 upgraded) and new High Schools in Medowie and Goowong. With an additional $112M allocated to meet the TAFE funding shortfall.

Elsewhere in education, 10,000 teachers and 6,000 administrative staff are being transitioned to permanent positions. As of September, 16,000 teachers and support staff have accepted offers, which should go towards satisfying appetite to cut contractor spend in other areas.

Find out more about the education sector in our latest whitepaper.

Transport

The Minns Government has put aside $72.3bn for Transport, with hard infrastructure projects and physical infrastructure seeing most of that spend. Projects like Sydney Metro City and Southwest are back on track. Train stations, Western Sydney Rapid Bus network, Parramatta and Manly Ferries are also scheduled to see advancements.

One project to note is the $15.8m investment in the Public Transport Information and Priority System to improve real time bus tracking for passengers – this will open a wealth of IT and specialist roles to make data more useful to transport customers.

Police

The NSW State Government has shown its commitment to law enforcement with significant budget allocations. While there will be an increase in the number of police officers, this is unlikely to significantly affect IT jobs. However, the $12M earmarked for enhancing the State’s Forensic Analytical Science Service showcases the government’s push towards a technologically-advanced policing system. Furthermore, $27 million will be dedicated to improving police operational radio communication in the south, southwest, and far west regions of the state. Not to be overlooked is the $60 million investment in upgrading the Police Force Academy in Goulburn.

Rural Fire Service

The Rural Fire Service is set to see enhanced emergency preparedness with a new purpose-built Emergency Ops centre for the South Coast at $20 million. The allocated $7 million for fire station upgrades hints at potential IT opportunities. A significant tech investment is the $11.3M set aside for the rollout of the “vehicle-as-a-node” (VAAN) technology. This innovation promises seamless internet connectivity to firefighting vehicles, amplifying communication and operational efficacy.

Justice

The justice sector is receiving a substantial boost with $97 million spread over four years. This allocation is intended to reinforce courts, tribunals, Legal Aid NSW, and the Office of the Director of Public Prosecutions. The primary tech opportunity lies in cybersecurity and system enhancements for various agencies within the Department of Communities and Justice. With $9.5 million allocated, there’s a clear path to introducing a platform that streamlines the application process for legal assistance. This investment will harness the latest in tech, optimising application management and aiding practitioners serving the underprivileged.

Water

The budget showcases a significant commitment to water infrastructure and security. A collaborative $222.4 million effort with the Australian Government aims to fortify water supply infrastructure in Wilcannia, Eurobodalla, and Cobar. The Safe and Secure Water Program will receive $217.5 million to back regional towns grappling with water-related challenges. Additionally, the Northern Rivers Watershed Initiative gets a $5 million boost to promote water security and healthier catchments.

Department of Customer Service

The Department of Customer Service demonstrates the state’s commitment to enhancing user experience with government departments, and improving digital security.  With a budget allocation of $80 million geared towards Cyber Security, there’s a clear focus on protecting the digital services provided to residents. Additionally, a dedicated $66 million for the digital restart fund signifies the state’s ambition to continuously innovate and improve digital customer services.

NSW Telco Authority

Emerging as a significant player in disaster management, the NSW Telco Authority has been allocated $11.3 million for the acquisition of four new broadband “cells on wheels” (COWs). These mobile base stations, designed for swift deployment, will play a pivotal role in ensuring connectivity in disaster-stricken zones, potentially presenting IT integration opportunities.

Department of Climate Change, Energy, the Environment, and Water

In a strategic shift, this department will transition away from a shared services IT setup over the upcoming two years, focusing on establishing its independent technology environment.

This budget reveals a pronounced emphasis on technology and innovation across a myriad of sectors, from law enforcement to water security and environmental management. These strategic investments not only underscore the importance of technology in contemporary governance but also spotlight the growing demand for tech talent to realise these ambitious projects.

If your department or agency is poised to capitalise on these forward-looking initiatives, securing the right tech talent is paramount. Reach out today to discover why we are the preferred choice for tech talent across all levels of government in Australia.