Recruitment for technology professionals is set to increase in the coming year, but firms will face rising salary costs as skills shortages continue, despite previous lay-offs. That’s according to new research by specialist recruitment firm Robert Half.
The company’s 2024 Salary Guide - which analyses and reports on market salaries, hiring trends, and skills requirements across the UK - revealed that half (50%) of tech hiring managers plan to increase headcount for permanent roles in 2024, following a year of turbulence in the tech sector.
According to the data, despite the initial lay-offs noted in larger tech businesses at the beginning of the year, demand for technology experts has “remained buoyant”, particularly in the SME space. This is largely being driven by strong tech talent hiring demands within the financial services, e-commerce and fintech industries.
A more detailed analysis of the data shows that mid-level applications support experts in software development and testing have reported the largest pay increase of 24% so far this year. Demand for junior product managers has also driven up wages for these professionals by 14.3%.
Kris Harris, regional director for UK technology solutions at Robert Half, said: “As we look to the new year, the pay rises that many professionals have commanded aren’t showing significant signs of shifting. While pay inflation isn’t sustainable on the current levels we’re seeing, employers will face increased competition throughout 2024, and will need to look at creating a broader benefits package that appeals to these individuals.”
Perks such as healthcare or dental insurance, financial allowances for working from home, paid sabbaticals, flexible benefits programmes, and fuel allowances are in high demand, apparently.
