The job market is shifting globally as well as in the UK, where the previously tight labour market – as seen during the pandemic where there was high demand for workers – is starting to slacken.
That’s on foot of a few factors including the rise in layoffs within the tech sector and the fear of impending recession – writes Kirstie McDermott, Senior Content Manager, Amply.
In the three months to November 2022, there were 97,000 redundancies, compared with 89,000 in the previous month, according to UK figures from Statista.
Globally, the picture looks similar with Layoffs.fyi reporting that 308 tech companies have laid off 95,508 employees already in 2023.
So while you might imagine that a job hunt this year might look the same as a job hunt every other year, there are some new factors to take into account.
Work has experienced a huge upheaval since 2020. The pandemic created a work from home revolution, and allowed people to reassess their jobs, which ultimately led to the “Great Resignation”.
Where it was relatively easy to get a tech job in 2020 and 2021 as companies scaled massively, the reality for 2023 is that you need to be prepared, skilled and up-to-date with your technical competencies and abilities. Here’s what you need to know.
1. Power has shifted
Over the last few years, talent has ruled the hiring game. Because of the Great Resignation, employees were able to jump from employer to employer, earning a lot of extra money as they did so.
Tech layoffs have done two things: they have put a lot of extra talent into the pool via layoffs, and because so many tech companies have either scaled-back, or put a pause on hiring, there are fewer opportunities this year.
2. Non-traditional hiring and D&I rules
Companies are changing. Now, it’s easier for candidates to succeed based on their ability to do the role, not their prior experience or educational status. In the US, this is already happening, with the majority of US-based roles at IBM no longer requiring a four-year degree. The Burning Glass Institute think-tank found that in November 2022, 41% of US-based job postings required at least a Bachelor’s degree––a drop from 46% in early 2019.
Depending on the job and level, qualifications will still matter, but candidates who show a willingness to learn on the job and have a can-do attitude are likely to be favoured.
Diversity and inclusion is a key focus too. Equality at work is becoming more important to employees, especially to the Gen Z and Millennial cohorts. Research has found that 67% of employees aged 18 to 34 would consider turning down a job offer or leaving a company if there was a gender imbalance in leadership. This compares to just 58% of 35 to 44-year-olds and 39 of 55 to 64-year-olds
3. New jobs and sectors in focus
It is definitely not all bad news: Gartner says the UK will lead 2023’s EMEA IT spending rebound, with a rise of 5.2% this year. And when it comes to hiring, the financial sector in particular is looking robust. New research from Morgan McKinley and data analytics firm Vacancysoft found that London banks, accountants and fintechs all led recruitment in 2022, offering more than one in two of every job vacancy in England and Wales in the sector.
Tech companies have shed roles across recruitment, sales and marketing recently, but many other jobs are in growth. Data science, VR/AR, machine learning and artificial intelligence roles as well as cybersecurity and information security jobs are all in high demand.
Now that you’re up to speed with the labour landscape, check out three open roles to consider below. There are thousands more to discover on the Payments, Cards and Mobile Job Board too.
Data Science Lead, Spain, TikTok, London
TikTok is looking for a Data Science Lead to lead the data analysis for the Spanish market. You’ll join the Global Data Science team, and be responsible for data analysis of operation strategy for the emerging business. You will be responsible for data analysis of operation strategy including seller strategy, creator strategy, business performance, and reporting, and will design the monitoring systems independently to reflect any changes of business. You’ll need at least seven years’ experience in data science, and be proficient in SQL/Hive/Python or R, as well as have experience in massive data manipulation, machine learning and modelling. Get all the details here.
Cyber Security Compliance Lead, OneWeb, London
The Cyber Security Compliance Lead will have a passion for security and will work as part of the global security compliance team. You’ll be developing and maintaining close working relationships with relevant teams in reinforcing and assuring implementation of suitable technical controls and will lead, manage, and run security assurance audits internally and with external stakeholders. To apply you will need five to 10 years’ experience delivering and supporting governance, risk and compliance projects, have relevant academic or professional qualifications, or applicable experience in the industry and can demonstrate experience of knowledge of standards, including NIST 800 series, UK CAF, ISO27001, CMMC, ENISA. Find out all the specifications for this role here.
Senior DevOps, IBM, London
IBM is hiring for a Senior DevOps job, where you will design, build and maintain infrastructures in the cloud that are highly available, fault-tolerant, performant, and secure. You’ll continuously improve data platforms and code pipelines and work collaboratively within an Agile team of cross-functional engineers, using and evangelising best practices in continuous integration and delivery. To be considered, you’ll need a working knowledge/experience in deploying microservices on Kubernetes or similar, as well as working knowledge of deploying data pipelines, Airflow, Spark, Kafka. Additionally, you’ll require experience with IBM Cloud or similar services (Azure, AWS, GCP). Apply for the role here.