IT Salary Survey Hiring & Employment Trends Q1 2018
The IT Market has grown consistently over the last 5 years, with a year-on-year increase in employment figures, and this trend is set to continue as we approach the end of Q1 2018. Ireland continues to be viewed as a prime location for inward investment with its growing technology presence, and remains a leading player in Europe’s ICT industry; with Dublin, in particular, being seen as a central hub for experienced technology professionals
Although the market is not quite at the peak levels of 2007/2008, there is a massive demand for experienced IT professionals that far exceeds supply, and this talent gap shows no signs of slowing down in 2018.
Contracting & Permanent:
Contracting is becoming increasingly popular year on year as it can provide experienced technology professionals with higher financial gains.
IT Contracting is becoming increasingly popular year on year as it can provide experienced technology professionals with higher financial gains. Contracting also provides many professionals with the added benefit of increased exposure to more diverse markets, products, projects and technologies on a regular basis.
Companies are increasingly turning to contractors to fulfil their immediate IT requirements as the battle to source permanent IT talent continues to rage, and the number of top level talent who favour contracting continues to grow.
We have also seen a rise in the recruiting of permanent staff and an increase in contracting staff who may be open to a permanent switch if they find the “right role”. Those who favour the recruitment of permanent staff are having to offer more in terms of a total package in order to attain the expertise they require.
Salaries & Benefits:
Current economic conditions have ensured that both salaries and daily rates are continuing to increase at a steady rate. As a result, companies seeking to hire staff on a permanent basis need to make this option more attractive to the competitive market.
We have found that the strong IT contract marketplace has, in turn, forced salary inflation on those who prefer to hire a permanent workforce. While a healthy base salary is always important, employers are now also placing increasing importance on other factors that may differentiate them from their competitors.
Benefits packages (health insurance, life insurance, pension etc.), work culture, flexible working options and a shortened recruitment process are becoming more commonplace in the permanent marketplace. A work-life balance is now of utmost importance, so companies need to increasingly be more flexible in their approach, both in the short and long term.
Employers are turning to the contract workforce to fill these gaps in the short term; allowing them more time to secure the appropriate long-term permanent hire they require.
Over the past 12 months, skills shortages in key areas, such as Data Science/Analytics and Cyber Security, have been evident and this shows no sign of abating in the coming year.
As GDPR comes into force this year, it is now of paramount importance that an organisation’s data records adhere to this new landmark legislation. This has given rise to an increase in demand for experienced Data professionals, both contract and permanent, as companies strive to get their data records in order by the May deadline.
In a technological era of increased ‘hacking’, organisations’ data is constantly at risk of being compromised and there are growing concerns around the privacy of client data. As a result, experienced Cyber Security professionals are in demand, both contract and permanent.
Also, with the growth of digital technology, experienced professionals with FinTech expertise still remain highly sought after. An increase in the use of smart devices and access to real-time behavioural data has ensured that employers have an increasing need for professionals with extensive IoT experience, namely in Machine Learning & Statistical Analysis.
Demand for Software Development specialists will continue to dominate across both permanent and contract markets, with Java & .NET technologies still being the most popular. Other key development areas include Database (SQL/ MSSQL), Web (Ruby/PHP), Mobile (Android, iOS), Front End Web (HTML/CSS) and SharePoint.
Finally, we have seen a growing number of people with these traditional IT skills who are seeking to align themselves closer to the world of Cloud Computing due to it’s long-term importance in the current marketplace.
Skill shortages in these key areas have brought opportunity for existing employees, with an increased number of organisations offering to upskill their current employees’ onsite.
There has also been an increase in the number of companies who are willing to bring talented candidates from overseas and offer sponsorship where necessary.
Top IT skills in demand:
- Data Science (Data Analysis/Big Data)
- Cyber Security
- Cloud Engineers (AWS)
- Software Development (.NET/Java)
As we continue into 2018, Ireland holds many opportunities for experienced IT professionals. In such a highly competitive marketplace, experienced candidates will always have multiple opportunities available to them. Companies who take an “Agile” approach to workforce planning will fare better in a competitive market. Employers need to be proactive and act quickly to ensure they can secure the top talent they require.
Companies who strive to stay at the forefront of innovation will also be rewarded, as experienced candidates are placing high importance on companies that lead the way with new cutting-edge technology when they decide on their next destination.
Our Information Technology recruitment team are consistently ready and prepared to assist with hiring requirements for small and large projects. To view up to date salary trends for 2018 please see full survey comparison by sector here.