- Traditionally, “non-tech” industries still have a high demand for tech skills
- New geographies are seeing a rise in technology
- More talent may be entering the market when organizations adjust their credential requirements
The first few weeks of 2023 left nearly 95,000 tech workers without a job. Whether it was due to over-hiring during the post-pandemic boom or economic conditions, tech workers are suffering serious layoffs. Tech professionals shouldn’t be discouraged, though; despite tech giants such as Amazon and Microsoft’s recent reduction of employees, the tech industry is bigger than it may seem, and there are opportunities across a vast space. Likewise, for organizations who struggled to find top tech hires, their talent pool may have just increased.
Tech Hires Cover Every Industry
The world runs on technology. Your next tech job or a company’s tech hire might not necessarily be in or from a tech company or industry. In 2023, it could be at the local bank, retailer, or other non-based tech companies. All these options need people to fill tech-oriented roles. For example, retail giant Walmart is venturing into the tech hub arena. Although location plans for Walmart tech hubs recently took a different turn, the company is still actively pursuing tech professionals. Finance IT, according to Gartner, “is already one of the greatest areas of headcount growth in the function.” CFOs of finance and banking organizations understand that their future is in ‘Autonomous Finance,’ which in turn needs deep technical skills to achieve.
Because industries need technology to not only survive but thrive, according to a report conducted by Bain & Company, job postings across the employment market are calling for those with tech-based skills in non-tech industries. Workers with Web3, data science, cyber security, and cloud computing skills were the highest in demand. Furthermore, job openings for workers with these skillsets grew by about 237% between the fourth quarter of 2020 and the third quarter of 2022. Since companies are utilizing technology to a greater extent to modernize, more tech hires are needed to make this happen.
Tech Hubs are Expanding
Automakers are zeroing in on newly available tech talent as well, which opens up more new areas of the U.S. for job locations than traditional tech-saturated regions. In addition to tech-centered auto companies such as Arrival or British Volt, jobs in the northern US region at Ford or GM are open to fill as auto manufacturing becomes increasingly digitized. The Midwest region, host to many major agricultural organizations, is also eager for tech workers to transform farm equipment through artificial intelligence. For example, one of the world’s largest tractor-making companies, Deere & Co., wants to advance its farm technology and is offering remote work and positions in cities such as Austin and Chicago. Tech employment is simply not bound by geography any longer.
Experience vs. Education for Tech Hires
Another creative way to hire tech workers can be through apprenticeships. These programs have boomed since 2011, with over 96,000 people completing apprentice training in 2021. This demonstrates that more avenues are available to attain a career in technology than the formalized education we have been accustomed to. In the same way, the tech industry is evolving, and the credentials needed to join it are progressing. According to a survey by the Society for Human Resource Management (SHRM), employers view alternative credentials as a way to diversify their workforce and highlight hidden talent. In fact, SSi posed this fundamental question of “degree or no degree” when hiring and found that organizations are already considering experience and non-formal training in their applicants for tech roles.
Tech hiring is still expected to continue, even as layoffs loom
From an IT staffing perspective, tech professionals who have honed specialized skills have a distinct advantage in working as consultants on a project or contractual bases. Organizations reluctant to add long-term headcount may be more inclined to bring in an expert that can accomplish their immediate digital transformation. At SSi People, our goal is to ensure that hiring companies will be matched with the tech consultant that has the expertise to evolve with their changing technology requirements to reach successful outcomes.