The technology industry in Victoria is currently presenting a number of challenges for employers looking for the right talent and incredible opportunities for highly experienced candidates and contractors. A skills shortage in key areas of demand is making finding the right talent more difficult than ever before - that’s if you don’t have the right processes and attraction strategies in place. We are finding, discerning talent, in increasingly high demand areas, are attracted to companies that have a strong reputation, are working on the latest tech stacks and more interesting project opportunities designed to build candidates’ expertise and portfolios.
Sourcing and retaining the right talent
The current candidate-driven market is increasing competition for both salary rates and opportunities. While salary rates are incredibly important and shouldn’t be neglected in sourcing strategies, we are finding more and more it’s the companies who offer the right portfolio opportunities, professional development pathways and exciting projects who have the upper hand in this market.
Companies should also consider the tech stack they are offering potential employees. Organisations that are running on older technologies will not attract the top contractors who want to keep their skills relevant. We are seeing many contractors decline an opportunity based on the company’s tech stack. The core focus for the industry’s top candidates is to remain as in demand and relevant as possible and working on old tech stacks or less innovative projects won’t assist their career. Therefore, they’re likely to look elsewhere for the challenges that suit them.
Removing all roadblocks – be ready to have offers out on the same day as the interview
In such a fast-moving marketplace larger companies are missing out on top talent due to their slower processes. While smaller businesses can move from interview to offer within a day, larger enterprises are still lagging behind and missing out on the best talent. Removing red tape and enabling speed of decision-making will put larger businesses on the same footing to snap up forward-thinking talent quickly.
While, for many roles, there has been minimal change in demand over the past 12 months, the key jumps in salary rates have included Software Development and DevOps roles. Salary rates for more senior roles increased slightly across the board, as well as some mid-level roles. The biggest increase in salary rates has been seen in Data, Cloud, Software Development and Agile Coaching roles, which is consistent with the demand in the market for those job types at the moment.
The industry is being driven by three hot areas – customer transformation, new ways of working and digital transformation. We are also finding more and more, organisations are looking for creative ways to fill their skills gap. Large organisations are implementing technology architecture training across their workforce, including Cloud certification, supporting their technology transformation and looking ahead to meet future skill gaps.
Davidson Technology General Manager (VIC)