Information Technology Market Update Q2 2017

Jasaon Kelly / July 4, 2017

Information Technology Q2 Market Update

Market Overview

The IT Market has grown consistently for the last 5 years and this trend is by all accounts, set to continue. There continues to be an increase in demand for niche IT talent and we are finding amongst our clients the biggest obstacle in achieving company growth goals will continue to be – securing and satisfying this niche talent and IT resources to ensure companies gain competitive advantage.

Last year, the Irish Government launched a €1.9m initiative, Tech/Life Ireland, to help attract overseas talent here. The primary goal of this initiative was to secure up to 3,000 of the best tech professionals to this country. Ireland is still viewed a prime location due to its growing technological presence and remains a leading player in Europe’s ICT industry. However, it has been recognised that the demand for experienced IT professionals is far exceeding supply. This talent mismatch shows no signs of slowing down in the short term, and increasing salaries and contract rates are not helping companies source and fill these in-demand positions.

The demand for experienced IT professionals is far exceeding supply and this talent mismatch shows no signs of slowing down.

Salaries & Benefits

Salaries have continued to increase within IT, but at a more sustainable level than over the past 4-5 years. In previous years, employers could largely focus on offering a healthy financial base package to attract top talent. However, with the increased demand for specialised IT skill sets, employers must offer more benefits and perks in addition to attractive salaries. Health insurance, life insurance, pension, flexible working options are now all important factors to most experienced IT candidates on the market. Furthermore, employers are turning to the contract workforce to fill these gaps in the short term; allowing them more time to secure the appropriate permanent hire.

Skill Shortages

Skills shortages in areas such as Data Science/Analytics and Cyber Security continues in the market. In an age of increased ‘hacking’ in technology and growing concerns of client data & security breaches securing such talent has become a high priority of employers.

Also this year, with the growth of digital technology there is a rise in demand for experienced professionals with FinTech experience. Due to the ever growing use of smart devices and access to real-time behavioural data, employers have a real requirement for candidates with IoT experience and specialist data skills.

The Year Ahead

For the remainder of the year, Ireland holds many opportunities for experienced IT professionals. However, employers need to be proactive in this highly competitive marketplace and be ready to move quickly. Experienced candidates will always have more than one opportunity available to them.

For a full list of opportunities in Information Technology, please click on the following link, you can also contact me on 01-661 0444 or email an updated CV to jkelly@lincoln.ie.

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