Diversity in Tech Report > Expert take: CWJobs

    Expert take by CWJobs:

    Is the Tech Job Market cooling?

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    With current challenging economic conditions, and further high-profile job cuts being announced at the start of the year, more than half of tech workers are pre-emptively applying for new jobs in case of redundancies at their firm.*

    Despite what’s being reported in the news, a shortage of tech workers remains, and candidates continue to be in extremely high demand.

    Market data suggests that tech workers can continue to feel confident about their future employment prospects as talent acquisition still remains key for businesses with 21% of IT businesses planning to increase recruitment spend for specialist roles (vs. 17% average).**

    However, it is a reminder to employers that the market is as competitive as ever and they need to be as appealing as possible to win over top talent.

    Find out more about CWJobs' 2023 tech talent trends here.

    “Tech workers are showing signs of uncertainty around job security – likely triggered by what they are reading in the news and on social media. So, employers need to go the extra mile to reassure them and build a strong sense of security in their current role and long-term career prospects. This could be key to attracting and retaining much-needed talent over the coming months and years.

    The jobs market remains highly competitive – so if employees or candidates are made to feel insecure or uncertain at any stage, from the job advert through to employment, they will find plenty of opportunities elsewhere. Employers need to address how skilled workers are feeling and take proactive steps to build trust.”

    Dominic Harvey, Director at CWJobs

    Dominic Harvey, Director at CWJobs

    The number of tech job vacancies in the UK between October and December 2022 rose to a record high of 502,151***

    This was an increase of 11% against pre-pandemic levels (compared to Oct-Dec 2019)***

    Job roles in highest demand include Software Developer, .NET Developer, Data Engineer, Java Developer, DevOps Engineer (top 5 most posted Oct-Dec 2022)***

    Industry insights on attracting and retaining tech talent in 2023 by CWJobs

    Make job adverts as comprehensive as possible. Job roles should be well thought out and have a clear purpose within the organisation.
    Employers need to build trust with candidates, and this needs to happen from their very first interaction. Prioritise trust during the recruitment stage.
    Regularly share company news and business wins to keep momentum and positivity in the workforce.
    Extra effort should be made to ensure the widest range of talent is reached and encouraged to apply.
    Employers should consider that most tech workers want flexible working. Provide certainty over the working practices you offer.
    Refresh your employer brand to reinforce stability and stand out from the crowd.
    Offer appropriate resources and support to bolster overall wellbeing of the workforce, such as training individuals in mental health awareness.
    Focus on culture and professional development. Helping employees to achieve their full potential and aspirations contributes to high retention.

    Comprehensive job adverts

    Make job adverts as comprehensive as possible. Job roles should be well thought out and have a clear purpose within the organisation.

    Build trust during recruitment

    Employers need to build trust with candidates, and this needs to happen from their very first interaction. Prioritise trust during the recruitment stage.

    Shout about company wins

    Regularly share company news and business wins to keep momentum and positivity in the workforce.

    Widen the candidate pool

    Extra effort should be made to ensure the widest range of talent is reached and encouraged to apply.

    Be unambiguous about flexibility

    Employers should consider that most tech workers want flexible working. Provide certainty over the working practices you offer.

    Protect employer brand

    Refresh your employer brand to reinforce stability and stand out from the crowd.

    Look after your employees

    Offer appropriate resources and support to bolster overall wellbeing of the workforce, such as training individuals in mental health awareness.

    Foster a culture of professional development

    Focus on culture and professional development. Helping employees to achieve their full potential and aspirations contributes to high retention.

    *CWJobs research Tech Talent: What to expect in a year of turbulence January 2023; **Totaljobs Hiring Trends Index January 2023; ***OTT data UK market 2019-2022.