BS Technology and Change Mid-year - Report - Page 4
BARCLAYSIMPSON.COM
4
Key themes in
technology & change
TECHNOLOGY & CHANGE | RECRUITMENT MARKET UPDATE 2024
AI talent in high demand
Artificial intelligence (AI) is likely to be a big driver for
tech hiring for the remainder of 2024 and beyond.
This is perhaps unsurprising, given that the AI market
is expected to contribute up to $15.7 trillion (£12.4
trillion) to the global economy by 2030.
Candidates who
possess the relevant
skillsets to support AI
The AI premium
development, such
Tech professionals
as machine learning,
with AI-based
data science and
skills earn 35%
Python programming,
more on average
are already highly
than their non-AI
sought-after. With
peers in the UK.
skills shortages
prevalent across the
Source: AIPRM
tech industry, and AI's
current high-growth
trajectory, this is unlikely to change anytime soon.
Indeed, one study found that the number of data
scientists graduating from the country's universities
is unlikely to exceed 10,000 per year, and yet there
are already as many as 178,000 data specialist roles
potentially available nationwide.
More offshoring, less nearshoring
Budget constraints are encouraging more
organisations to offshore certain business activities,
with India and South Africa emerging as the top
locations to outsource service desk capabilities, QA
processes and other operations. On the other hand,
countries that have traditionally been attractive as
nearshoring options, such as Poland, Portugal and
Romania have become less popular in the current
economic climate due to rising costs.
Our consultants are also experiencing a rise in the
number of candidates who are willing to consider
relocating to continental Europe and the Middle East
because of a lack of opportunities closer to home.
However, while working overseas undoubtedly has
its benefits, competition for jobs is often strong and
employers' expectations can be high.
EDI initiatives remain a key priority
At Barclay Simpson, we aim to build diverse and
inclusive workplaces where everyone feels valued
and empowered. It has therefore been encouraging
to see major tech players such as Google, Meta and
Apple committing to investing in equality, diversity
and inclusion (EDI) schemes in recent years.
We have also seen first-hand the great work that tech
employers have been doing to tackle inequality and
support under-represented groups both throughout
the recruitment process and after placement. While
EDI efforts are at risk of being scaled back during a
challenging economic environment, our consultants
are reporting that diversity and inclusion are still high
on the agenda for many organisations when hiring.
Tech businesses are also developing a more mature
approach to EDI. According to the latest Tech Talent
Charter, employers are transitioning from a myopic
'just hire more women' strategy to a more holistic
viewpoint that considers multiple lenses of inclusion
at the same time.
