The labor market, which has been scorching hot for the past few years, is eventually beginning to cool off. This is particularly true in the technology industry, where numerous well-known companies have recently announced layoffs. The ongoing uncertainty about the direction the economy will take in the upcoming year can be partly blamed for that change.
This has spread anxiety and uncertainty among job seekers, particularly those from younger generations who may have just begun their careers or who will shortly do so. Similar to the concerns that older generations like myself felt in the aftermath of the dot-com crash in the early 2000s, young people are suddenly questioning whether they might have made a mistake in choosing a career in tech.
The good news is that there are still plenty of IT tech businesses hiring. Additionally, more businesses in numerous related sectors are on the lookout for fresh talent with the kinds of tech skills that are in higher demand than ever.
In order to better align with their major product and growth initiatives, large corporations like Google, Microsoft, and others are changing the size and focus of their workforces, according to Christine Kiefer, senior vice president at Experis Practice, a division of ManpowerGroup. “The major tech companies’ layoffs have opened up the market to some fantastic talent that other businesses can use. There are still many indicators that business possibilities in technology will expand in 2023 and beyond.
In fact, Experis recently unveiled a “Disrupt the Layoffs” campaign with the aim of challenging global layoffs and altering the perception of the availability of tech jobs. Experis hopes to meet with 50,000 job seekers in the technology industry through their campaign.
Numerous businesses have slowed the rate of hiring overall due to the recession danger. The outlook for work generally is still positive when it comes to tech-related positions. According to the ManpowerGroup/Experis January 2023 employment survey, 64% of employers in the IT sector anticipate growing their workforce in the first quarter of 2023.
Long-term employment chances appear to be even more promising. It is anticipated that 149 million new digital employment will exist by 2025 in fields like cloud computing, data analysis, machine learning, software development, privacy and trust, cybersecurity, and data analysis.
As the rate of technological adoption accelerate, expert claim estimates show that 50% of all workers will need reskilling by 2025.
As businesses continue to expand and improve their digital experiences for customers, employees, and business partners, we expect to see growth in the cloud, cyber security, AI, and machine learning in addition to continued opportunities in application development
In other words, tech jobs will continue to be popular and in demand across almost every sector for the foreseeable future.
Companies continue to report that they simply can’t find enough employees with the skills they need, despite the fact that demand for workers with tech skills is rising. As a result, more employers are looking into methods to bridge the skills gap for new hires.
Many businesses give reimbursement for training and certifications, and staffing and consulting organizations like ours and others provide free training opportunities for candidates and consultants to upskill without charge.
Additionally, businesses and organizations can collaborate with colleges and universities to offer internship chances or take part in events like hackathons or coding competitions.
Contrary to popular belief, the skills divide extends beyond technical abilities. According to experts, 78% of employers say it’s challenging to find workers with the ideal mix of “hard” and “soft,” or what I like to call “professional,” skills.
According to Experts research, the top five soft abilities that employers of IT talent are currently seeking are:
The macro trends create a much clearer picture of the types of skills that will only continue to grow in demand in the coming decades, despite the fact that things may seem uncertain and unclear these days, particularly in the world of technology. The future of technology does not seem gloomy at all.
It looks even better for those who start taking action right away to acquire this fusion of tech and professional skills. Tech-related job seekers today and in the future have every cause to anticipate the kind of career they both want and deserve.