More concern around skills hiring than the recession
Despite concerns about the recession, most tech leaders are planning their recruitment around market growth, says new research from Talent Works. The research revealed that leaders are more concerned about skills hiring than a recession and that hiring, especially in the tech industry, is aligned to market growth.
Talent Works’ latest study, gauging attitudes towards hiring in an uncertain economic landscape, revealed that despite the chance of a recession, over 61% of the 500 US and 200 UK tech leaders surveyed said they are still planning their recruitment drives around the market growth they are seeing.
The findings of this research align with the most recent information from The Office for National Statistics, which reported that the number of job openings in the UK from April to June was 1,294,000. This is an increase from the previous quarter. These numbers are still higher than pre-pandemic levels, indicating that worker demand remains robust.
The research also showed that tech leaders are still experiencing challenges with finding the right talent. Forty-eight percent said they are concerned about a skills shortage and getting the talent and specific skill sets they need to grow their businesses. A further 37% of tech leaders believe that flexibility in hiring models is a top priority.
Jody Robie, Senior Vice President for Talent Works, commented: “We’re still seeing high levels of demand for roles across every sector, including technology,”
“However, businesses need to find the right people within their budget to meet their growth predictions. We’re also seeing more businesses opt for flexible and embedded recruitment outsource (RPO) models as a way of extending their in-house talent teams. Beyond just getting resumes and hiring fees, this model allows them to understand the market and provides insight into the perception of their employer brand. It’s helping them to focus on growth, not recruiting, and it makes economic sense to establish a flexible sourcing relationship during a time when businesses need agility now more than ever before.”