Tech talent. From developers to cybersecurity specialists and data analysts to network engineers, it’s now the backbone of almost every industry. But the truth is there’s simply not enough to meet the growing demand across EMEA. That’s why we took a deep dive into the world of tech professionals and hiring organizations, going way beyond the surface to take you “Inside Tech Talent.”
What do I mean by this? We went straight to the source, surveying thousands of tech professionals and employers as well as our own technology business leaders at Hays to compile a comprehensive report with this name. What does it uncover? What matters most to tech professionals in different EMEA countries and sub-regions and how companies can beat the competition to secure the skills they need.
Read on for some takeaways.
Fierce Competition for Talent on the Move
Organizations across EMEA now more than ever are focused on sustainable growth and business development. This is closely tied to priorities like digitalization, automation and process optimization — areas where specialist tech skills are must-haves. The resulting competition in the tech talent landscape is nothing short of fierce. Fifty-three percent of organizations report experiencing a shortage of skilled candidates, and with 42% of tech professionals planning to leave their current jobs this year, the fight for talent could really heat up before the end of the year.
Pay the Premium or Pay the Price
Tech professionals are well aware of their worth. With pay data readily available online, they have a firm grasp on market rates and aren’t afraid to ask for competitive compensation. We discovered 37% of tech professionals expect a raise of more than 10% this year, with 15% anticipating an increase of over 20%.
Employer perceptions of such pay expectations vary significantly depending on the country. For example, 58% of employers in Poland believe that employees have unrealistic pay requirements, but only 14% share this sentiment in Spain.
PREMIUM CONTENT: Citation: The Future of Jobs Report 2023
Offer Mobility with Remote Control
According to employers, career development is the second most important factor in attracting and retaining talent. However, tech professionals don’t feel that there isn’t enough room for progression in their current roles — more than half don’t expect a promotion in 2023. A well-defined career trajectory is a compelling factor for tech workers, so these stats reinforce the importance of communicating the potential for career progression wherever you can.
Looking for another nugget of advice? Well, if your organization is transitioning back to the office, be aware that it could seriously hinder your ability to attract — and retain — tech talent. Our study found that only 18% would accept a fully office-based role, while a significant 43% wouldn’t even consider it. While only 13% of employers intend to increase office presence, interestingly, 45% of them expect an increase in productivity from such a move. These employers should challenge the assumption that remote workers are unproductive.
Search Smart with an Open Mind
Even in an interconnected Europe, only 20% of organizations are actively searching for talent outside their country, and a mere 9% plan to increase international recruitment. While 29% see legislation and compliance as the barriers, under the right circumstances a borderless approach isn’t as difficult as these people seem to think.
Despite the shortage of skilled professionals being identified as the most limiting factor to achieving strategic goals by 24% of employers, only 13% are planning to utilize contractors or freelancers in 2023. Yet embracing contract-based work allows access to specialized tech skills that may not be required on a long-term basis, while providing the flexibility to scale resources based on project needs.
Interested in the full story? Turn to the “Inside Tech Talent” report.
