2023 was a tumultuous year across the globe for our economies, employees, and employers alike. Employment trends have come thick and fast throughout 2023 and as we return from our end-of-year breaks refreshed and hopeful in achieving our resolutions for the year ahead, let’s take a look at some of the themes that have filled our feeds and some key considerations for 2024 in the pursuit of skilled talent.

Minimum Mondays

Some suggest this is employees’ response to the Sunday Scaries and a way of easing into the week by focusing on less complex tasks, whilst other suggest it’s a wellbeing technique used by employees to lower stress and reduce pressure.

Quiet Quitting

A report recently published by Gallup suggested that 67 % of ANZ employees were, “quiet quitting”. This doesn’t necessarily mean they intend to quit, but that they felt less engaged or somewhat disconnected to the organisational purpose and overall strategy.

Return to Office Mandates

It started slowly with a few articles about the possibility of returning to the office, then gathered speed, which led to some of Australia’s largest employers mandating a return to the office. Some mandated a percentage of time, others a number of days …. Needless to say, cue the coffee badging – see below…

Coffee Badging

On first glance, this sounded a bit like the old school notion of presenteeism whereby employees showed up regardless because time in office or face time was valued. However, on closer inspection, “Coffee Badging” is a direct response to the more recent RTO (return to office) mandates from some employers, whereby employees come to the office, grab a coffee, make their presence known and then head off to a more suitable working environment for the work they need to do that day – typically, home.

Rage Applying

This trend, like many, sprung up via TikTok in 2023 amongst Gen Z and Millennial employees in response to workplace frustrations – some report being passed over for promotion, some not receiving an expected bonus among other reasons. Whilst it may feel like you’re taking back control at the time, take a moment to consider how this reaction may impact your professional reputation over time and perhaps have an open discussion with your employer to learn more as to the why.

We could keep going but you can see the pattern here, employees are feeling increasingly stressed. Interest rate rises in Australia mean increased financial pressure; we’re seeing varying degrees of employee engagement and working preferences mean employers need to adjust to keep pace with the employee and candidate market.

Candidate and employee priorities this year

Post pandemic we have seen a fundamental shift in our working world, not just because of the need to pivot how and where work was done due to COVID, but our workforce demographics have and will continue to change. By 2025, Gen Z will make up 27% of the workforce coupled with 10,000+ baby boomers reaching the age of 65 daily, and potentially moving out of the workforce. Seek’s Laws of Attraction Report highlighted the top priorities for candidates and employees today are:

• Work-Life Balance,
• Salary & Compensation,
• Working Environment, and
• Management

So, what should leaders and employers be doing right now to ensure they are speaking directly to the needs of both candidates and employees in 2024. Here are some tips as we head into 2024:

Make sure to check in

Check in with your people, in person where possible, but make it meaningful and practice active listening. Perhaps share some of your highlights / lowlights of the year and ask your team member to do the same, chat about holiday plans, what excites you for the year ahead with this team member.

Build a strong EVP

Review your EVP from the perspective of employees and candidates and ask yourself, is it grounded in reality for where your organisation is today? Does your EVP include the critical elements for the talent you want to attract and retain?

Know your audience

With four generations currently in the workforce, try to avoid a “one size fits all” approach to your EVP – because just like dress sizes “one size does not fit all”. Tailor key elements of the offering to your audience.

Promote a work-life balance

Flex your flexible working options at every stage of the employee life cycle. From job advert, to interviews and during regular employee check ins, ensuring your people feel supported as they move through life stages – think 4-day work weeks, flex hours, work from anywhere. Personalisation is critical when it comes to flexibility, so don’t be afraid to ask your people what works for them.

Consider compensation and benefits

Transparency is key. We know it’s not only about the about the salary, so consider benefits such as wellbeing allowance, all leave related allowances including additional purchased leave, salary sacrificing, novated leasing, parental leave. Benefits can significantly increase employee engagement and ease the financial strain for all.

Lead with empathy

Leaders who can lead with empathy will be one of any organisation’s superpowers as we continue to face a constantly changing environment. Employees today place significant importance on the ability to express themselves openly, embracing differences, and sharing thoughts, feelings, and emotions. It’s essential leaders have the right training and support to express empathy, foster open communication and demonstrate awareness for employees’ emotional and mental wellbeing.

2024 is set to be another year of volatility and uncertainty, so stay tuned for some of the next workplace shifts set to impact your people in 2024 (gender pay gaps, increased AI in the workplace, skills-based hiring, etc.).

Ready to build world-class teams in 2024? Learn how we can help.

Over the past 12 months, Talent has filled many thousands of roles across different industries, providing us with a valuable window into the professional contract recruitment market.

According to our hiring data, the transportation and logistics industry appears to be the most resilient in the face of the economic woes that have struck many other sectors over the last 12 months. This is based on the comparatively strong contractor hiring that has taken place; with contractor placements in 2023 climbing 2% higher than 2022. The combined energy, resources and utilities industry also remained fairly solid in comparison to others, with only a comparatively small 7% reduction year-on-year. Its likely continued investment in renewables projects and the burgeoning ‘green tech’ revolution sustaining the need for an injection of specialist skills prevented a bigger slide in demand.

Somewhat unsurprisingly, several publicised contractor layoffs and hiring freezes across both federal and state government departments and agencies are reflected – with declines of 16% – but it wasn’t the worst hit sector.

By comparison, financial services and consulting sectors have seen the sharpest declines in their demand for contractors year-on-year – more than 25% in each sector. This is possibly a reflection of the economic markets as well as heightened scrutiny on the use of consulting firms drying up pipelines of work, especially across the public sector. Recruitment demand for permanent consulting industry workers was also down on 2022’s figures.

One metric which has climbed year-on-year is average contractor pay rates. Across the board, rates are up an average of 4.1%. The categories which outperformed the average most noticeably were Administration (up 12.9%), Sales and Account Management (up 8.2%) and IT Support (up 8.1%).

Data, Reporting & Business Intelligence was up 4.7% compared to 2022 and also recorded the second-highest annualised income of $246,073. The highest annualised income was attributed to Cyber Security which, although pay rates stayed flat, still saw averages of $276,236 per annum.

The largest decline in contractor rates was within the broad finance category, which was down 2.2% in 2023 compared to last year.

If you’d like to delve further into your industry’s trends, tackle a critical hiring challenge together or even discuss the role of top contractor talent in your people strategy, please get in touch with our Head of Enterprise Solutions, Cameron Robinson.

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.

In today’s shifting market landscape – where an economic downturn is driving greater hiring caution, yet the competition for top tech talent remains fierce – how are you carving a niche for yourself?

Companies are constantly evolving to improve efficiency and productivity; however, this can’t be done without the right people on board. Permanent employees can help expand business and provide a wealth of benefits, so what can you do to attract the best of the best? Let’s get into it – but first, how can your people help drive success?

They can improve your company culture

Permanent hires play a pivotal role in shaping and strengthening your company culture. Having long-term employees committed to your organisation are proven to strengthen teams, reduce turnover, and add a sense of belonging.

Permanent employees can help bring your culture to life as they learn and grow through your company values and traditions. They also have the opportunity to bring their own thoughts, experiences and perspectives to your teams, fostering a diverse work environment. In a workplace where employees feel valued and respected, they can become advocates, enhancing company culture for the better.

Permanent employees are also more likely to engage in mentorship and knowledge-sharing programs, a medium that can foster more meaningful relationships between employees and improve overall workplace culture.  Through committing to personal and professional development, helping the growth of their colleagues, and perpetuating a culture of continuous learning, they can help create a dynamic work environment that attracts and retains top talent.

Permanent hires are the cornerstone of a thriving company culture. Their commitment, action through values, and knowledge-sharing only expands a business further. Whether you’re a startup, scale-up, or enterprise organisation, don’t forget that company culture can make or break your next hire.

They can develop knowledge that knows no bounds

The longer an employee is with your organisation, the stronger their understanding of your company, and the more technical knowledge they can develop, which all helps to drive business innovation. This can reaffirm existing technologies, enhance productivity, and create new solutions to drive success.

However, it’s not just knowledge picked up on the job that can make your permanent employees one of your biggest assets; offering continuous learning and development opportunities can also enhance business performance.

A 2023 Talent survey of over 500 tech candidates revealed that the opportunity for career progression and development matters to 48% of these professionals when looking for a job. By providing meaningful opportunities for growth, you can cultivate a culture of ongoing self-improvement and development, empowering your people to reach their full potential. By offering training, mentorship, and professional development, you are investing in your permanent employees’ skills and knowledge, ensuring they remain valuable assets as the company evolves.

The more learning potential given to employees, the better the business outcome, and the longer they can positively impact your business strategy. Want to find out how we can help you find the perfect team member to grow with your organisation? Check out our permanent recruitment services.

They can enhance your company niche

Permanent employees can enhance your company niche. The longer employees stay and grow with your business, the more it allows for them to truly understand your organisation and the unique language it speaks, helping you get key projects over the line and deliver results.

Plus, the lengthier the tenure of your perm team members, the stronger the relationship they can build with your customers to deliver long-term business success. Not only does this improve customer satisfaction, but it will also drive results that will bring your business to the next level, even in a market downturn.

Developing a deep expertise of the niche market is another added bonus that tenured employees can bring to the table. Permanent employees have the time and capacity to understand your differentiation against competitors. This allows them to specialise in customer relationships, market trends, and develop ways to continue gaining a competitive advantage.

Ultimately, hiring permanent employees will make you stand out from the competition as your company niche becomes stronger in the market. There are wins all around.

How you can attract and retain top permanent talent

Ready to build high-performing teams to help your business achieve long-term success? Here are our top tips for bringing permanent tech talent on board (and keeping them with you for the long haul):

• Offer continuous employee growth opportunities
  • Candidates are seeking growth opportunities. So much so that almost 50% of tech professionals cite this as their most important consideration when looking for a job. Provide mentorship and training to your people and they’ll stick by your side for the long run – plus, employees who are happy in the workplace are 13% more productive than those who aren’t, meaning employee satisfaction can directly help your company. Armed with stronger business knowledge, fresh technical skills, and a productive mindset, your permanent employees can take your business to new heights.
• Provide flexibility
  • If you want top talent on your teams, you need to consider the flexibility you’re offering your people. A 2023 global Talent LinkedIn poll revealed 95% of respondents preferred either a fully remote or hybrid model of working; 37% of 1,500 tech professionals even revealed they would take a 10% pay cut to work remotely.
• Ensure a smooth onboarding process
  • Retaining top talent is crucial for any company’s success, and a seamless onboarding process is the first step in engaging new hires and setting up high-performing teams. A well-structured onboarding program not only introduces new employees to the company’s culture and values, but also equips them with the necessary skills and knowledge to succeed in their roles. This approach ensures that new hires feel welcomed, supported, and confident from the start, fostering a sense of belonging to your organisation. Once demand increases, your permanent employees will be ready to roll-out high-quality work.
• Consider your ESG strategy
  • In our Talent Sustainability: Awareness to Action Report, both tech candidates and employers ranked DE&I (diversity, equity and inclusion), and staff engagement and retention as their top two business priorities. 59% of candidates also expressed that a company’s commitment to environmental sustainability influences their decision to accept a job offer. Candidates are seeking a sense of inclusion and engagement, as well as a company commitment to sustainability when selecting an employer to work for. Deliver on what your people want in this space, and you’ll be able to attract (and retain) top permanent talent.

Permanent hires can take your business to new heights despite market downturns. Want to build and retain high-performing teams that will improve culture, enhance your company niche, and achieve long-term success? Learn how we can help you with all your permanent hiring needs.

We likely don’t need to tell you that the tech hiring market is competitive. But hiring people is one thing; hiring the right people is another — especially when it comes to tech roles.

Here are the top tech skills every applicant should have before you consider them for your financial services team.

What are the right tech skills, anyway?

According to market trends and our experts’ opinions, the top tech skills for 2023 are:

Cybersecurity

The global average cost of a data breach is $4.35 million and up to $9.44 million in the United States. Unfortunately, even as threats become more sophisticated, tech roles get harder to fill. Globally, there’s a cybersecurity workforce gap of 3.4 million people — a number that has more than doubled since 2019. This indicates that the problem is not necessarily with hiring itself, but with finding people who have the appropriate experience and expertise. Unfortunately, this small talent pool means that you’ll be competing with a host of other industries, not just your peers in financial services.

How to hire for this skill: Look for applicants who have a proven track record of securing physical and digital environments similar to yours. Degrees can be a helpful indicator of experience, but base your decision on cybersecurity-adjacent skills, too. Perhaps most importantly, create a competitive, tech-forward environment where top cybersecurity professionals will feel both valued and challenged.

Data Analysis

Data holds a wealth of insights, but only the right tech expert can unlock them. By 2026, the U.S. alone expects a growth rate of about 28% in the number of data science jobs; industries and individual businesses across the world are seeing similar patterns. However, many U.K. organisations in finance and other industries plan to spend no more than £10,000 on recruitment, learning and development for data analysis.

The problem is that most of these jobs are comparatively new, which means finding experienced professionals can be tough.

To further complicate matters, data analytics job seekers in the financial sphere must demonstrate a comprehensive understanding of:

• Metrics used in financial services.
• Associated processes (such as risk management).
• Workflows, systems, and software used to gather data and extract actionable insights.

How to hire for this skill: Instead of focusing on experience, look for related skills, programs, and promise. Be willing to develop talent through a more extended pipeline; draw up-and-coming data scientists to the financial field by promising to support their growth, thus encouraging them to apply with you instead of at tech companies or other competitors.

Programming

Python, a high-level programming language, should be at the top of your tech applicants’ skills list.

Unfortunately, only 20% of Gen Z survey respondents felt they had “advanced” digital abilities in coding — which means this is yet another shortage of skills, not necessarily of applicants.

How to hire for this skill: Ask questions to determine how confident an applicant is in their coding and programming literacy; if a gap exists, present your financial services organisation as an opportunity to learn, grow and become better. Offer a tech-forward environment that strengthens existing digital literacy while building new skills.

Cloud Product Expertise

Cloud products such as Microsoft Azure and Amazon Web Services (AWS) are quickly becoming mission-critical in the financial services industry. Competition for talent in this area is more noteworthy, with almost one-third of U.K. organisations planning to spend up to or more than £20,000 on recruitment for cloud solutions.

How to hire for this skill: Look for applicants who list these platforms by name or otherwise indicate expertise in managing, utilising, and securing cloud environments. Explain your needs clearly and emphasise how the applicant’s cloud expertise would be put to good use in the financial services industry, presenting both challenges and opportunities to further their career.

How to find candidates that check all your boxes

When faced with a competitive tech hiring environment, financial services companies may feel as though they can’t be picky about skills. As the old saying goes, ‘Beggars can’t be choosers.’

The reality, however, is that tech professionals with the right skills do exist. To find these candidates and make them part of your team, try leveraging the following tips:

#1: Have a compelling employee value proposition (EVP): Remember that you’re competing with organisations from many other industries, not just financial services. Position your EVP to show skilled tech applicants that their careers will go further with you — and that their talents, expertise and experience will be highly valued.

#2: Build a strong employer brand: An employer brand clarifies your mission, personality, and culture. This helps attract applicants who want to put their top tech skills to good use in a company that supports its employees and clients.

#3: Deliver top benefits: Tech workers, especially those with in-demand skills, want growth opportunities, flexibility, supportive company culture and the ongoing chance to develop personally and professionally. Add these to your list of benefits alongside time off, health care or work-from-home options to stand out from the competition.

Build your tech dream team today

Don’t lower your standards to adapt to a competitive hiring environment. Show top tech professionals that you know what you’re looking for and value the key skills they bring to the team. Just be sure to understand your priorities and plan for the future of the financial services industry.

Ready to find the right candidates with the right skills? Learn more about how we can help.

What are green skills and how do they fit into the growing green technology landscape? We break down the basics. From solar to smart grids, here’s a quick snapshot of what you need to know about green tech and the growing green jobs market.

Technologies shaping the green energy sector

The green skills shortage is a global phenomenon. The UK currently faces a green energy skill gap of over 200,000 workers — a number that is likely to increase as the UK pursues 100% renewable energy by 2035. Sharing in the goal of 100% renewable energy is New Zealand, an objective set by the current Labour Party. In this pursuit, expertise in various areas is required, including solar power, wind power, energy storage, smart grids and electric vehicles.

Solar power

Solar power — a clean and renewable energy source — has a number of benefits, including its low environmental impact, scalability and potential to provide reliable power even during periods of peak demand. This green technology is enabled by four key professional categories: manufacturing, system design, project development, and installation and maintenance, which collectively support its implementation and ongoing operation. Across all professional categories, 700,000 new solar power jobs were created in 2022 alone. The following skillsets are sought after within each category:

• Manufacturing: Computer Numerical Control (CNC) Operators, Process Control Technicians and Instrumentation & Electronics Technicians.
• System design: Structural and Power Systems Engineers, Solar Energy Systems Designers and Software Engineers.
• Project development: Solar Marketing Specialists, Solar Utility Procurement Specialists and Building Inspectors.
• Installation & maintenance: HVAC technicians, Solar Service Technicians and Solar Installations Contractors.

Wind power

Wind power is actively shaping the green energy sector. To implement and operate wind power energy sources, there is currently a rising demand for those with expertise in data analytics, electrical systems, aerodynamics and simulation, among others. Within the five areas responsible for the operation and maintenance of wind power — engineering, design, construction, operation and maintenance — approximately half a million skilled workers will be needed in construction and maintenance alone by 2026.

Energy storage

Energy storage ensures energy sources are accessible when they are most needed. This is particularly important for renewables like solar and wind, which may not be consistently available.

There are several energy storage technologies, each possessing unique strengths and weaknesses: These include batteries, pumped hydro, and compressed air energy storage. Energy storage plays a transformative role in enhancing the reliability and affordability of renewable energy sources while reducing our dependence on fossil fuels.

Energy storage companies are looking for those who are competent in flywheels, pumped hydro, compressed air, and thermal storage, among others. The specific technical competencies required depend on the nature of the role — other relevant energy storage technological skills include software development, data analysis, modelling and simulation.

Smart grids

Smart grids are modern power grids that use digital technology to improve efficiency, reliability, and sustainability. Smart grids make use of various technologies including sensors, communication networks, and advanced control systems. These technologies enable utility companies to monitor and control the grid in real time, resulting in improved efficiency and reliability. Furthermore, smart grids play a vital role in integrating intermittent renewable energy sources, such as solar and wind power, into the existing power infrastructure.

There are various skills that are required of the engineers who work on smart grids: Linux, MATLAB programming, electric utility analysis, GIS, outage management, demand response and infrastructure management. The demand for such skills is projected to increase significantly as the global smart grid market is set to reach USD $207.82 billion by 2030, compared to 2022’s value of USD $50 billion.

Electric Vehicles (EVs)

With a projected UK skill shortage reaching the tens of thousands, Electric vehicles (EVs) are powered by electricity instead of gasoline or diesel —  considered a clean and efficient way to travel.

EVs have a number of benefits, including their lowered emissions, quiet operation and potential to reduce fuel costs. As technology continues to improve, EVs are becoming more affordable and accessible. In-demand EV-related technological competencies include software engineering, control system development, sensing and actuation technology, and vehicles & systems integration; the demand for these skills — and other associated EV competencies — is projected to grow 230% over the next five years.

A look into global demand

The global demand for workers in the green energy sector is steadily rising, as evidenced by a 29% higher median hiring rate compared to the 2023 workforce average. This trend shows no sign of slowing down – the number of green energy jobs is expected to increase by around 12 million by 2030. As only one in eight workers have the necessary skills to meet the rising green energy demand, employers are needing to ensure they stand out in today’s competitive tech marketplace to attract the best.

Whether you’re working in solar, wind, electric vehicles, or anything in between, at Talent, we bring together experts in tech, transformation and beyond. Learn more about our Green Tech specialisation here and our current job opportunities here.

Want to cash in on top tech talent in the financial sector? First things first, you need to understand the technology and skillsets this evolving industry is banking on.

The financial sector is undergoing rapid evolution: Innovative tech is changing the way financial transactions are conducted, and traditional banking models are being disrupted. Several technologies rise above the rest due to their transformative impact on the industry.

We delve into the tech that’s driving the most change amongst the workforce and the market insights you need to get ahead when hiring.

Three emerging technologies shaping the financial sector

Among the emerging technologies within the financial sector are artificial intelligence (AI), machine learning (ML), cloud computing and blockchain — each presenting unique opportunities for innovation and transformation in the way financial services are delivered and experienced.

AI and ML

AI and ML are two of the most disruptive technologies in the financial sector, commonly adopted to automate tasks, improve decision-making, and detect fraud, among other functions.

The marketplace for AI and ML skills in the financial sector is highly competitive. Salaries for these tech professionals are rising, and there is a growing demand for these skills in both traditional financial institutions and fintech startups. Granted, there is also a shortage of qualified AI and ML professionals, which is driving up the cost of hiring candidates with these skills.

Talent Wellington Senior Recruitment Consultant, Adeline Le Bris, comments that “AI will fundamentally change the landscape of the Financial Services industry. To enable AI, financial organisations are currently going through significant digital transformation. Some of their key priorities include replacing and modernising their core systems platforms as well as modernising their data. Achieving data maturity will be key to the success of enabling AI.”

Resultantly, it’s expected that the skills landscape and workforce demands will shift, with Adeline observing “some of the skills that are emerging will cover data analytics, data engineering including big data, infrastructure automation, programming, cloud platforms, and security. Specific technologies that are sought after will include Python programming, AWS, and Azure.”

In 2022, while Data Science ranked in the top 5 most in-demand professions in Australia, LinkedIn ranked machine learning engineers as the second most in-demand role in the UK. And looking forward, estimates project that 97 million new AI jobs will be created by 2025. One way that the Australian marketplace is planning to mitigate these demands is through the Government’s investment of AUD $124.1 million, as a part of their Artificial Intelligence Action Plan. Similarly, the UK Government recently announced their plan to invest £54 million into their AI talent pipeline.

As AI and ML technologies continue to evolve, Adeline notes that the demand for professionals skilled in these spaces will continue to grow. What are companies looking for most in tech talent? “Organisations will look for agile and adaptable mindsets, innovators, people who think outside of the box and have an eagerness to keep on learning and developing.”

Cloud Computing

Cloud computing allows financial institutions to seamlessly scale their operations, improve their security and reduce their costs. According to LinkedIn Talent Insights, several of today’s in-demand cloud computing competencies include:

• Terraform
• CI/CD
• Amazon EC2

Other in-demand skills include AWS CloudFormation, Amazon S3, and Azure DevOps services, among others. Given this demand, 46% of employers in an Australian study identified the lack of skilled individuals as the main barrier to cloud migration; an obstacle that is expected to persist due to the projected growth of cloud computing.

In Australia, public cloud spending is set to surge by 83%, reaching AUD $22.4 billion by 2026, up from AUD $12.2 billion in 2022. Similarly, New Zealand is forecasted to experience nearly a twofold increase in public cloud spending, jumping from NZD $2.6 billion to NZD $5.1 billion during the same period. To fuel this growth, there is a focused effort to source and invest in robust cloud infrastructure, develop specialised cloud services and foster a skilled workforce capable of effectively managing and leveraging cloud technologies.

Blockchain

Blockchain is significantly reshaping the way transactions are conducted. This distributed ledger system ensures enhanced security and transparency while also offering cost reduction opportunities.

Some of today’s most in-demand blockchain-related skillets, according to LinkedIn Talent Insights, include smart contracts, Web3, TypeScript, and dApps, among others. The demand for blockchain technology and its skilled professionals is projected to increase, with the worldwide market witnessing significant expansion. In 2022 alone, the market for blockchain technology reached $11.14 billion. Looking ahead, the market value is projected to soar to an estimated value of $469.49 billion.

Understanding the marketplace to source top tech talent

With the rising technological demand, financial institutions need talented professionals capable of navigating the ever-evolving landscape of digital finance.

At Talent, leading financial companies bank on us to deliver top tech candidates, helping to address today’s skill shortages. Learn more about how we can help you build world-leading banking, financial and insurance teams here.

There’s a battle for tech talent across the globe, and if you’re not winning, you’re losing.

Fortunately, there are plenty of tips and tricks to kick your recruitment strategy up a notch and help you secure the best of the best. Here’s how to get started.

Ready to attract tech talent? First, know what they want

If you’re hoping to attract potential employees with all the right tech skills, you must turn the traditional talent acquisition process inside out. Think of yourself as the candidate and jobseekers as key decision-makers. What can you offer to them? Why should they choose you over all the other candidates vying for their attention?

Here are a few things they’re looking for:

An effective hiring process

Nobody likes wasted time, but that’s particularly true for a candidate whose skills are in high demand. It’s even more relevant for tech workers, who may assume that your company isn’t savvy enough to put their talent to good use. They won’t wait around while your disjointed processes burn daylight, because that could mean they lose out on other opportunities.

Takeaway: Eliminate unnecessary steps, streamline hiring experiences and optimise decision-making activities. Remember to extend this efficiency through onboarding and training, too — after all, 80% of employees who feel undertrained due to poor onboarding, plan to leave their companies.

Competitive compensation

To attract top talent, you have to pay for top talent. For surveyed employers in March 2023, that meant merit increases of 3.8% and total increases of 4.1%. And with experts predicting a tech talent shortage that could last until 2026, every skilled candidate knows exactly how much they’re worth.

Takeaway: This may not be the time for drawn-out pay negotiations. Be ready to make a competitive offer up front, and don’t be surprised if potential candidates have done their research and come prepared with a counter-offer.

Real flexibility

A global survey found that 80% of employees who work at least partially remotely would recommend the arrangement to others, and about 60% would leave a current role for one that offers remote flexibility. Almost 85% of Australian respondents said they’d be happy with even one day of remote work.

Takeaway: If you can offer any level of flexibility, especially for roles that operate mostly in the digital world, do it. Consider comparing your remote work policies to competitors’ to attract top talent.

A supportive company culture

Your employee value proposition (EVP) must be in line with qualified candidates’ values and priorities. For top tech talent, that often means developing their skills, achieving personal and professional growth, taking ownership of their achievements and being treated fairly.

Takeaway: You can say whatever you want in that interview, but if employee engagement doesn’t really exist, potential candidates will know about it. That’s because nearly 70% use third-party company review sites to research workplace culture. Simply put, it’s important to be walking the walk.

Hiring factors that sink your ship

You know what a future tech employee is looking for — but what will make them turn around and leave? Here are a few things that might dissuade a candidate from applying:

Ambiguity

Our experts recommend writing clear, specific job recommendations, and that’s not just to help you get what you’re looking for. It’s also to avoid the agonies of ambiguity. If a candidate senses a ‘bait and switch,’ they likely won’t proceed with the hiring process — which means you’ve wasted everyone’s time.

Takeaway: This is an early opportunity to show tech talent that you maintain an honest, transparent, respectful company culture. Have others read every job description to ensure your language couldn’t accidentally be misleading.

Unreasonable expectations

Like any potential employee, tech candidates want to join companies where they can thrive. That means they’ll avoid situations that ask them to:

• Do too much: They’re experts, not miracle-workers. Don’t imply that a tech employee will be asked to do the impossible — such as guaranteeing complete protection from cyberattacks — at any point in their tenure. You also shouldn’t put the weight of your tech talent gap entirely on their shoulders; it’s your responsibility to hire a team to support them, not their responsibility to do the work of 10 other experts.
• Do too little: If there’s even a chance that a particular job includes low-level tasks as frustrating as troubleshooting network connections, skilled tech workers will likely lose interest. They want to grow their skills and use their talents, not teach your company the basics of tech literacy.

Takeaway: While you may be perfectly clear on your reasonable expectations, that doesn’t mean your whole company is. Ensure that your recruitment marketing and social media outreach teams are clear on exactly what’s required and what shouldn’t be discussed, mentioned, or even implied.

Poor experiences

Bad experiences can be caused by any number of things, but they often have just one outcome: A potential employee heads straight for the door. When competition is so fierce, it may only take a single negative interaction to make potential candidates look elsewhere. For example, U.K. tech workers and similar experts are generally among the happiest in their roles — so if a job-seeker isn’t feeling it, they’ll likely look for better opportunities.

Takeaway: Everything — from email exchanges to onboarding platforms — must be streamlined, optimised and handled with care. Even if you feel that the first few days aren’t a fair representation of what their role will actually be like, candidates look to these early experiences to prove that they’ll be happy in their new company culture.

Where to find top tech talent

You’ve got the dos and don’ts; now it’s time for the whos and wheres.

Entry-level roles

While you may be looking for higher-level positions, it doesn’t hurt to have a few tech employees who want to work their way up the ranks. That way, you’ll have internal experts ready for later.

Tech layoffs

Tech giants are laying off workers in record numbers, but their loss is your gain. Reach out to any prospective employee who may be looking for a steadier position outside the highly variable tech industry.

Employee referral programs

Use an employee referral program to turn current tech workers into recruiters. They know your company culture and team needs, so there’s no one better to recommend talent you may not have been able to reach otherwise.

Change-seekers

With trends like The Great Resignation, we saw a pool of tech workers who wanted to try something new — something more promising, rewarding, and interesting. If you can be all those things, you may have a chance with those experts who are still looking to switch things up.

Win your battles for tech talent

You don’t have to face this tough hiring landscape alone. Our experts know what tech workers are looking for, where to find them and how to attract them to your workforce. Better yet, we know how to outmanoeuvre your competition.

Get started by exploring our tech talent market trends, or get in touch today to learn how we can support you.

Just like a software update, tech workers in financial services need to run an upgrade on their expertise to keep up in a rapidly changing industry. But they can’t do it alone. Financial services companies play a key role in supporting their tech teams’ professional development – think on-the-job training (OJT), mentorship programs, sponsorship opportunities and employee resource groups (ERGs). A supported workforce can also drive innovation and productivity, helping financial services companies get ahead of the competition – it’s a win for all. So, how can you get started? Let’s dive into it.

Why skilled tech workers want upskilling opportunities

Upskilling initiatives provide tech workers with invaluable opportunities for personal and professional growth. By acquiring new skills and knowledge, they expand their career horizons and enhance their market value. This not only boosts confidence but also opens doors to exciting and challenging roles within the company — benefiting everyone involved.

For financial firms specifically, investing in upskilling initiatives offers a wealth of advantages, including:

Enhancing talent acquisition efforts: Top-tier tech professionals actively seek out companies that prioritise employee development and provide avenues for growth. By offering upskilling programs, your financial firm can attract and retain top talent who possess a strong desire to learn and progress.

Boosting morale: When team members feel supported and empowered through learning and development opportunities, they become more engaged and motivated in their roles. This positive work environment fosters innovation, collaboration, and productivity, pushing your company forward.

Building a positive reputation: By promoting a culture of continuous learning and professional development, your company can be perceived as progressive and forward-thinking. This reputation not only attracts top tech talent — 78% of financial services professionals cite that a positive company culture matters to them when looking for a job, according to Talent research — but also potential clients and partners who value innovation and expertise.

Employee development strategies for financial services

There is a plethora of employee development strategies out there, but these opportunities ultimately hinge on the specific goals of your people. Depending on where they are in their career, tech professionals may benefit from one or more of the following strategies:

On-the-job training

With on-the-job training (OJT), your people can gain hands-on experience and practical skills, ultimately improving confidence and job performance. OJT allows mentees to understand specific processes, systems, and tools, while your company can benefit from streamlined processes and enhanced productivity.

To implement effective OJT, your financial services company should develop structured training plans, allow shadowing and observation, facilitate hands-on assignments, and provide structured evaluation. The way that the OJT is set up should be dependent on the nature of the junior’s role. A junior investment analyst, for instance, may benefit from shadowing senior analysts, learning how to conduct market research, analysing investment opportunities, building financial models, and presenting findings to clients. Similarly, if your financial firm is taking on a junior cybersecurity professional, you may provide them with opportunities to observe and analyse real-world cyber threats, gain hands-on experience in implementing security measures, and receive access to relevant cybersecurity tools and technologies.

Mentorship programs

According to research by Talent, over 8 out of 10 surveyed tech employees desire the opportunity for meaningful work. A part of what develops meaningful, exciting work is the ability to learn and work alongside those who are more advanced in their careers: Mentorship programs pair experienced professionals with less-experienced employees to provide guidance, support, and career advice, offering numerous benefits for both mentors and mentees.

Businesses that invest in mentorship programs ultimately outperform those that don’t; mentoring serves as a means of improving productivity and profitability, as well as the retention rates of a company’s people. Given the growing demand and importance of tech skills – like cybersecurity, machine learning, and artificial intelligence in financial services – mentoring junior team members in these areas can foster innovation and boost company performance.

Sponsored educational advancement

If you want to keep A+ talent on your books, education is key. Sponsored educational advancement programs involve providing financial support and resources for your tech workers to pursue further education or professional certifications, demonstrating commitment to investing in their long-term growth and development.

Your financial services company can offer various forms of sponsored educational advancement, such as:

• Certification programs: Employers cover costs for certifications – including preparation materials, exam fees, and training programs – enhancing skills and expertise. Relevant financial certifications may include designations such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) or Certified Information Systems Auditor (CISA), among others.
• Work-study programs: As facilitated by the employer, team members pursue education while working part-time, with flexible hours and adjusted workloads to balance work and studies.
• Internal training initiatives: Companies provide customised training courses or partner with educational institutions, ensuring employees have up-to-date skills and knowledge.

Through these opportunities and investing in your people’s growth, you can not only attract top talent but also keep the best on board, helping take your company to new heights.

Employee resource groups

Leverage the power of your people. Employee resource groups (ERGs) are employee-led groups that bring together people with shared interests. Through ERGs, employees can expand their professional networks, gain exposure to different perspectives, and access development resources tailored to their needs. ERGs also promote a sense of belonging and engagement, which can lead to higher job satisfaction and retention rates. As Richard Branson once said, “Train people well enough so they can leave, treat them well enough so they don’t want to”.

Your financial services company can encourage and support ERGs by providing resources, funding, and leadership support. By leveraging the power of ERGs, you can enhance employee development, foster a culture of diversity and inclusion, and ultimately drive innovation and success in the industry.

Understanding what top talent want in their employment

Financial services companies may be at risk of losing out on top tech talent to other industries or companies that offer more attractive opportunities. If you want to attract and retain the best, you need to understand what your people want. Hint: facilitating career development opportunities is high on their list.

To help you get ahead of the competition, we can do the heavy lifting in locating tech experts who are the perfect match for your company. Reach out today.

It’s time to ace your employer brand and bring top of the class talent into your teams.

While communicating a competitive benefits package serves as an integral aspect of an employer brand, this is no longer what’s going to get you top marks with tech candidates. Today’s workforce has choices; especially A+ tech talent. Therefore, to stand out among the competition, you need to craft a compelling, authentic and tailored employee brand that resonates with the unique desires of tech professionals in higher education.

Here, we unpack the role of branding to help your higher education institution acquire top tech talent: What an employer brand is, its advantages and how to create one that sets your institution up as an employer of choice.

Acquiring tech talent: The role that your brand plays

When actively recruiting top tech professionals, especially in the higher education space, employers need to consider how candidates perceive their brand and reputation. It should encompass the values, culture, and overall image that the company projects to the external world — ideally, adjusted to the desires of tech talent.

Here are just a handful of the benefits of a strong employer brand:

• Enhanced reputation as an employer of choice.
• Improved candidate quality and quantity.
• Reduced recruitment costs.
• Higher employee retention rates.

Top tech talent want more than just a competitive salary; they want meaningful work, flexibility and career advancement. An A+ employer brand aligns itself with these desires by drawing on the best practices we’ll cover below.

Effectively showcasing your brand: 3 best practices

Demonstrating your institution’s employer brand requires intentionality and forethought. To set out in the right direction, here are three best practices:

1.  Communicate your DNA

Among the wants of tech professionals, the ability to make an impact within their employment is a leading reason why a professional may choose one role over another. In keeping with this, it’s the responsibility of higher education institutions to communicate their various social and technological initiatives they are involved in as an expression of their DNA.

When communicating company DNA, consider the following guidelines:

• Communicate your company DNA widely online: Whether it’s through blog posts, such as this article from the University of Leeds on the adoption of industrial digital technology; press releases, like this release from the University of Bristol on their £12 million technological investment; or social media updates, utilise different online channels to communicate the way your institution is technologically advancing.
• Engage in thought leadership: In keeping with online distribution, look to further invoke thought leadership by relaying technological contributions to industry publications, conferences and panels to enhance your brand reputation and attract tech professionals. This publication, for instance, speaks on the creation of cutting-edge facilities for higher technical education, helping set the University of Brighton, the University of Sussex, and North East Surrey College of Technology (Nescot) as leaders within U.K. higher education technological advancement.
• Display social and wellness initiatives: Notably, a company’s DNA — and tech employees’ desire to make a difference — goes beyond technological advancement into the area of social and wellness initiatives. AUT, for example, is not only making significant strides in the area of sustainability — but are also communicating their efforts effectively. And on the wellness front, Victoria University’s career’s page speaks on the values of autonomy, safety & wellbeing, professional development, diversity and inclusion practices, among other key draw cards.

Through effectively communicating the various aspects of your institution’s DNA — whether in regard to technological, social or wellbeing — you position yourself in a spot where tech professionals can see the unique value your higher education institution offers as an employer.

2. Create a seamless candidate experience

A seamless candidate experience should be easy, efficient, and personalised, leaving candidates feeling valued. This greatly reflects the company’s culture, showing the applicant that their time and effort are appreciated. To foster a positive employer-employee relationship from the start, companies should:

• Streamline the application process by displaying clear and concise job descriptions and offer user-friendly application platforms. For example, The University of Auckland’s careers page allows candidates to easily sift and filter through various roles and obtain the necessary information without friction.
• Offer timely communication and regular updates throughout the hiring process, keeping candidates informed and engaged.
• Provide personalised interactions, such as emails or tailored interview questions, showing that the company values the individuality of each candidate.

A seamless candidate experience goes beyond application and interviews — it also includes onboarding. Providing new hires with necessary resources, information and support for quick acclimation establishes a strong foundation and greater chances of retention. To achieve this, many universities are turning to artificial intelligence (AI) for task automation; For instance, Harvard Business Review spoke on the multifaceted role of AI in onboarding, and the way its technologies are taking significant strides in reducing human error from the onboarding process. While onboarding still necessitates the human element to build meaningful connections and provide personalised guidance, AI can streamline various administrative tasks, and in turn free up professionals to focus on more people-oriented aspects of the onboarding process.

3. Leverage technology

Beyond utilising AI, higher education facilities can leverage other technologies to enhance their employer brand more generally:

• Adopt video interviews as a convenient method for enhanced candidate assessment. The University of Dundee in Scotland states that video interviews are the fastest growing recruitment technique, working to break down geographical barriers. Naturally, video interviews provide increased opportunities for applicants by allowing them to participate in the recruitment process from anywhere in the world — especially beneficial for international applicants or those in rural areas who are considering relocation.
• Draw on online data to determine what your ideal candidate is looking for, and adjust your employer brand accordingly. Insight, such as the desire of 84% of tech employees to work for a company with a commitment to environmental sustainability, can help you shape your messaging and the portrayal of your company values accordingly.
• Create an intuitive careers page, featuring employee testimonials, videos and virtual tours, among other relevant components. For instance Stanford University’s careers page highlights value propositions, staff testimonials and data on recommendation rates, while also creating an intuitive experience that is easy for the user to navigate.

Understanding the state of the higher education workforce

While your employer brand serves as a pillar in the pursuit of top tech talent, there are various other aspects that contribute to such sourcing and retention. In times like these, where tech talent have a plethora of employment options before them, consulting with industry hiring experts can be of great benefit.

Talent specialises in tech recruitment, helping higher education institutions across the globe identify and attract the most skilled and suitable candidates for their technology-focused positions. Contact Talent today to learn how we can support you in filling tech-voids.

If the tech industry is Soccer, then Cybersecurity professionals are the Lionel Messis among us; highly skilled, highly paid and high in demand. If your team is looking to recruit a Messi, then it’s necessary to understand what they’re expecting, pay-wise and benefits-wise. Let’s dive into it.

Cybersecurity salary expectations

According to LinkedIn, among the most in-demand tech skills in 2023 are Data Analysis, Microsoft Azure, Python and, of course, cybersecurity. Although salaries for these professionals are set to continue projecting, let’s take a look into the salary growth of cybersecurity professionals across recent history.

• Australia: The salary of Australian cybersecurity professionals outpaced the national average, increasing at a yearly rate of 6% per year from 2017-2020.
• United Kingdom: The average UK cybersecurity salary increased by 12% from 2021 to 2022.
• United States: Over the span of one year from 2020 to 2021 the US’s cybersecurity workforce saw an average salary increase of 5%.*

To take a look into the specific salaries of cybersecurity professionals, read through our ‘More Than Money’ salary guide.

More than money: What cybersecurity experts want

A high salary isn’t enough if you want to bring the best on board; attracting and retaining top tech talent requires addressing their specific needs and expectations. To ensure your company stands out in the competitive cybersecurity market, you should consider delivering on what your candidates want:

Prioritising health and wellbeing for cybersecurity professionals

The health and wellbeing of cybersecurity professionals is of utmost importance given the demanding nature of their work — being the steward of their company’s sensitive data is no easy task. Prioritising their wellbeing not only boosts morale but also enhances productivity and job satisfaction. Flexible work arrangements — whether that’s time to pick up the kids, hybrid setups or flexible start and finish times — can be used to promote wellbeing, an employment benefit that’s important to approximately half of cybersecurity professionals. Other health and wellbeing benefits include therapeutic funding, free gym memberships, and ongoing employer-employee collaboration.

Cultivating a cybersecurity-focused company culture and purpose

For cybersecurity professionals, purpose is key. 86% of tech contractors emphasised the importance of connecting to their company’s mission. This desire expands to cybersecurity talent wanting to engage in meaningful work that contributes to the field’s advancement.

A key pillar of a cybersecurity-focused company is collaboration: A study found that 68% of cybersecurity professionals emphasise the importance of employers taking their advice seriously, granting them the space to best protect the company’s sensitive data. A collaborative approach not only helps to drive a company’s mission forward, but also fosters greater engagement among cybersecurity professionals and supercharges their professional development.

Staying competitive in the cybersecurity hiring environment

To stay ahead of the pack, it’s important to keep your Employee Value Proposition (EVP) front and centre throughout the entire recruitment process. Your EVP differentiates you from others, showcasing the unique benefits and rewards that employees can expect by joining your company — after all, you can’t expect to place a Lionel Messi into a role without a little convincing involved.

To attract top cybersecurity professionals, your Employee Value Proposition (EVP) needs to align with their desires. A 2023 global Talent LinkedIn poll, for example, revealed that 95% of respondents preferred either a fully remote or hybrid model of working. Offering a flexible work environment and communicating this to candidates is — more often than not — a necessity.

Sharing your sustainability efforts also matters: Our Talent Sustainability: Awareness to Action insights report revealed that a noteworthy 84% of tech candidates want to work for a company that demonstrates a strong commitment to environmental sustainability. A significant 59% of these candidates consider a company’s dedication to this cause as a determining factor when considering a job offer.

Ultimately, knowledge is power when refining your EVP: our ‘More than Money Salary Guide’ can be valuable for those looking to source top cybersecurity talent by enhancing their Employee Value Proposition (EVP). The guide provides:

• Comprehensive insights: Real-world insights into the latest salary and benefits trends specific to the tech and digital industries.
• Understanding of candidate priorities: A deep dive into what tech candidates are looking for beyond salary.
• A look into market dynamics: Sheds light on the current state of the job market, including the tech skills shortage and changing economic conditions.

Ready to bring top cybersecurity talent onto your team? We can help. Learn more here.

* The data depicted here are averages across the wide spectrum of cybersecurity roles — salary variation can be attributed to the professional’s level of experience, education, certifications and the specific industry or company they work for. Other factors that can influence salary include the regional demand for cybersecurity professionals, the cost of living in a particular location and the overall economic conditions of the country.