The last 12 months in the technology employment market have been turbulent to say the least - we’re talking major job losses,  multiple hiring freezes, pull backs on digital and technology transformation spend and less investment in the startup and scaleup community. It’s not all bad news though. Despite everything, demand for software engineers and developers continues to be high! 

In fact, as we close in on another year, things aren’t looking all that bad, with investment in technology and talent demands set to increase. While talks of recessions might be rampant right now, the reality is that technology is always top of mind for businesses. As companies continually push to improve their digital channels and tackle technological transformation, any dips in demand will likely be followed by swift and strong increases. 

Get Your Skills Up To Speed

For all our programmers out there, make sure you keep your skills up to speed. Traditionally, languages such as Java, C++ and Python were pretty much all you needed, but change is coming. While having knowledge of these basics is still essential, it’s all about skill specialisation.

Emerging sectors such as fintech, biotech, and renewable energy mean demand for data analysis and scientific computing specialist languages, such as R, have taken a front seat. 

In the ever evolving e-commerce and mobile app world, JavaScript, TypeScript, Swift and Kotlin are the languages you want to get on top of. 

As businesses seek scalable and strong cybersecurity solutions and cloud computing capabilities, learning languages like Rust and Go are becoming a top priority for programmers looking to make moves in this sector. 

To add on another layer, while it’s important to have your basics down pat and your specialisations sorted, you also want to get some experience and knowledge in areas such as Integration, APIs, Cloud and DevOps. On top of that, don’t forget about your soft skills like communication, commercialisation and understanding the real world impact of what you do. 

Things might not be as simple and straightforward as they used to be, but don’t be frightened by the new necessities - embrace the change and start upskilling. 

Time to Talk Cash 

The topic a lot of us don’t like to talk about but we all want to know about - money!

The good news is salaries in the industry are likely to remain fairly stable over the next 12 months. 

Things are still a little sticky though, thanks to inflation and the rising cost of living. For employers, this means no cutting back wages. Instead, if you want to attract and retain talent, you’ll want to focus on providing a steady increase over the next 12 months. 

For our contractors out there, things might start to get a little tight. As we reach the end of 2023, companies are looking at cutting costs - this means moving away from contract staff and instead pushing for more permanent positions. This might mean it’s time to say goodbye to contract life and take a slight cut on your day rates in exchange for better job security (not the worst trade off). 

For those staying in their contractor shoes, we may see a slight increase in day rates to accommodate the rising cost of, well everything, particularly for junior and mid-level positions. 

But nothing beats experience. Highly skilled engineers and dedicated developers can also expect to see an increase in their day rates as companies aim to stay competitive by improving their offerings or making moves with market innovation. Businesses that won’t budge on their salary structure will struggle to hire top talent. If you want to be the best, you need the best. To get the best, you’ll need some flexibility in those salary bands. 

Adapting to AI 

The buzz on the street at the moment is AI. There’s plenty of talk about what this technological advancement might mean for most white collar jobs. Right now, it’s a bit of a ‘sit and wait’ situation, but it will be interesting to see what new roles emerge as a result. 

For existing engineers and developers, the overwhelming concern is being made obsolete. As a start, those already in the field will still be needed to help review codes and help train AI models. 

But what about emerging graduates looking to enter the industry? It’s all about adapting. Concentrate on what this new tool will allow you to do and focus on what human elements will still be needed. Also, don’t forget about your soft skills. 

Attracting & Retaining Talent 

Lastly, let’s focus on all the employers wanting to attract and retain the top developers and engineers out there for their business in the current market. 

A few quick tips:

• Make sure you have a flexible work environment and don’t be overly rigid on what tech your developers must use (if someone can get the job done better and quicker with a different tool, why not let them use it). 
• Think about putting more technical-minded managers in leadership roles (they’re the ones who can help fix the processes and push that progression). 
• Stop focusing on what the tech side of things will cost and start looking at what these processes and projects can do for your business (move from a negative to positive mindset). 
• Give clear career progression (how can your new hires work their way to the top?) 
• Provide possibilities for continual learning (not only will it keep employees interested, it also ensures they stay ahead of the changes and trends to help keep your business at the forefront).