The tech hiring market and those dependent on it are accustomed to change, but 2024 has brought a particularly mixed picture. Resilience in the face of economic uncertainty stands side by side with lingering effects from pandemic-era hiring sprees and layoffs. As recruiters and HR leaders navigate these waters, understanding the latest tech hiring trends is critical to finding and retaining top talent.
Don’t miss the full discussion in this video, where Paul Farnsworth, CTO at Dice, and Brooke Lorenz, Director of Marketing at Dice, chat about the evolving tech hiring market and share some insights on what is actually happening:
The Current State of Tech Hiring
Despite continued layoffs at some large tech companies, we reported in our most recent Tech Jobs Report that the overall market is showing signs of a rebound. Open tech job postings are up, with industries like aerospace, finance, healthcare, and consulting driving demand. These sectors are leveraging tech innovation to address challenges and build their futures, ensuring a steady need for skilled professionals.
Geographically, top markets like California, Texas, and Virginia continue to dominate in tech job postings, while states like Washington and metro areas like Seattle are seeing rapid growth.
High-Demand Roles and Skills
Recruiters should take note of the areas experiencing the most growth:
Artificial Intelligence (AI): Positions like Machine Learning Engineers have seen year-over-year job posting growth of 63%, while AI Engineers have surged by 83%.
Cybersecurity: The demand here is critical, with a shortage of 265,000 professionals needed to meet the current demand in the U.S.
Cloud Computing: As companies accelerate their digital transformation efforts, cloud specialists are indispensable.
When it comes to skills, AI-related expertise like PyTorch, TensorFlow, and natural language processing are among the fastest-growing, with over 40% year-over-year increases in demand. Interestingly, AI knowledge is now becoming essential not just for tech roles but across industries, as businesses use generative AI for tasks like fraud detection and process automation.
Why the Long-Term Outlook is Bright
According to the Bureau of Labor Statistics, tech occupations are projected to grow by 12% from 2023 to 2033—three times the average for all occupations. Nearly all tech roles show above-average growth, making this an opportune time for companies to solidify their talent pipelines.
Tips for Recruiting in a Competitive Market
To attract top-tier tech talent in this competitive market, consider the following strategies:
Prioritize AI and Emerging Skills: Tailor your job descriptions to highlight opportunities for growth in AI, cybersecurity, and cloud computing.
Expand Beyond Traditional Hiring: Look into alternative work arrangements like contract roles to tap into skilled professionals who may prefer flexible options.
Focus on Employer Branding: Highlight your company’s commitment to innovation, inclusivity, and career development in your recruitment materials.
Leverage Direct Outreach: Use tools that allow direct communication with tech professionals, ensuring your outreach is both personal and effective.
Streamline the Candidate Experience: Simplify the application process and ensure timely communication to stand out in a crowded market.
Closing the Gap: Upskilling and Retention
One thing has always been true: a need for lifelong learning in tech. Surprisingly, over a third of tech professionals report their companies don’t provide relevant upskilling opportunities. For employers, this is a chance to differentiate your brand by investing in training programs that align with the latest tech hiring trends.
If your organization is struggling with retention, consider offering certifications, hackathons, or mentorship programs to keep employees engaged. These initiatives not only boost morale but also position your company as a leader in the industry.
Staying informed and adaptable is key to winning the tech talent war. As the market continues to shift, aligning with trends and taking a proactive approach will set your team up for long-term success.
