Current Overview on IT Recruitment and What to Expect in Q3
At GemPool we have found that 2021 has been a strong year. We have noticed large recruitment activity in the IT sector and seeing upward trends as we move into Q3. Covid-19 continues to put a dampener on the economy at large, but considering companies now need to adapt to a new way of working, that “new normal” comes with new tech, which has advanced hugely in such a short period of time. It is however putting pressure on an already very scarce talent pool of IT candidates.
So, what do we know so far about the IT job market?
In the last 6 months we have heard major job announcements by the likes of Workday, Salesforce, Service Now, Etsy, Microchip, Huawei and Stripe who are expanding their Irish office by over 1,000. Even BT are getting on the bandwagon by adding 70 to their global procurement businesses. That is only to mention a small few of the major announcements from the IDA.
This is exciting stuff for Ireland Inc. and really showcasing to the world how attractive Ireland is. Talent attraction plays a major part in the decision for companies to continue to expand operations in Ireland.
Closer look at the data regarding IT jobs in Ireland
To put some figures on the movement of talent in Ireland, using our own data as well as statistics from LinkedIn we saw that over 30,000 people have changed jobs within the IT industry in the last 12 months (from June 2021) with an average tenure of 1.8 years.
So unlike my father and my father’s father, people rarely stick to one job for life. Today’s professionals move far more regularly than they did in the past.
Roles and skills that are in demand
Software Engineers continue to dominate the sector, but there are growing trends in areas such as Cyber Security Engineering and QA. No surprise there following the chaos that erupted when the HSE was hacked bringing the Irish Health services to its knees in May 2021. That really did make a lot of companies take stock of their current safety flaws.
We are seeing salaries also increasing since the turn of the year. We conducted a salary survey a few months ago that is starting to look dated. It’s fair to say that perhaps an extra €5k is being offered on the more popular roles within Software Development. We are also seeing more and more candidates accepting large salary increases from their current employers to stick with them, so we might start to see that average tenure start to increase to closer to 2 years by 2022.
So who are the major employers of 2021?
Well the usual suspects remain very active in the market. Accenture saw a 4% increase in headcount but also saw a huge 21% attrition rate, Google saw 6% while Microsoft saw a 9% increase.
Amazon and Amazon Web Services continue to grow at a staggering rate of 24% while maintaining around 11% attrition rate. Tiktok remains the fastest growing company in the tech sector bringing their headcount to 1,375 who started with only 20 people employed in Ireland in 2020 and continue to hound the IT sector for more. They are currently actively looking for 223 more candidates according to their website.
The outlook for the IT sector in Ireland remains very robust. The industry shows no signs of slowing down. As we start to look to the future of automated cars, space travel, crypto currency, AI and Machine Learning & IOT our worlds are becoming more and more reliant on the world of tech. All signs point to continued growth and continued shortage of talent to fuel our everyday needs.
We continue to update our IT career insights with information on the tech market in Ireland, so keep a close eye on the page.