Hiring Trends in IT for Winter 2024 – Quarterly Update

Did you notice something different? Hint: It’s not the new sign or the strange photoshopping of Chris Woods into the group photo.

General Hiring Trends in Tech:

Welcome to our end-of-Q2 update. Purposely a little late, we have some cracking news to update you on so be sure to check out our ‘within Sourced walls‘ section.

Meantime, here we’ll give you a review of how 2024 is shaping up  (what happened at the end of 2024 summer?), and where we see the market headed as we start looking towards Spring. We hope you’re keeping warm in what’s been a very cold August, and we look forward to catching up with you over the coming weeks.

Skip to: * Hot Jobs * What’s happening at Sourced * Skills in demand right now * Overview *

As you will all be aware, the times, they are challenging. Looking right out across the country, on the whole, permanent and contract job numbers are down, job seeker numbers are up in the contracting space, and permanent headcount turnover is historically low. It’s fair to say those in permanent roles are holding firm while economic conditions remain tight. It seems to be a bit of ‘better the devil you know‘, with job satisfaction not necessarily at an all-time high, just a lower than average risk appetite to change roles during a recessionary period.

General Comments

Permanent and Fixed-term contract roles are by far outweighing contract roles, however, are being approached with real caution. Employers are refusing to relent to inflated salary expectations, and have longer than average skill set demand lists. Employers are also paying more attention to internal promotion opportunities before heading out to the external market, and are being very cautious in their hiring decisions.

While there has been a great deal of chatter about when we might start to see the return to market buoyancy, we are realistic that this is probably now a story for early 2025. October onward is typically a time when roles in the market are wrapped up, but a pause is put on new roles to market.

Given we’re now only 2 months out from October:

It would be safe to say that the market as we see it now, will likely see us through until at least February/March next year.

From a roles and levels point of view, the majority of roles that have come to market have tended to be at the experienced mid-level, salary $80-$120k, with very little demand on either side of this banding. Contract roles have been at an all-time low. This is as a result of projects being put on hold, investment decisions being reevaluated, and an increased focus on cost reductions.

Immigration?

On the immigration front, we are also seeing lower than usual levels of candidates flowing into the country. Other than the tightening of the immigration policies this year, this may be a flow-on effect of very few employers making use of the Employer Accreditation scheme, and preferring to hire local where possible.

While it may seem all doom and gloom, these are all conditions that lead to a bounce back or ‘market correction’, similar to the dip we’ve experienced after the heady spending and hiring seen across 2022. While it is difficult to see from the trenches, the sun will shine again, tech will continue, and we will look back at this period as one-for-the-books. We should start to look ahead to new projects, investment and hopefully a bunch of career development opportunities for those seeking.

Hot Jobs

Junior Level

Intermediate Level

Ever considered moving to Nelson? We are in need of an experienced M365 Engineer to join our client in sunny Nelson. Working alongside a highly experienced team, within a very large and complex enterprise environment, this role is a career maker for those prepared to relocate. Training, certifications and ongoing professional development are all on offer here. Permanent role $100k

Senior Level

Within Sourced Walls

As we alluded to above, the times they are a-changing, but this time for Sourced!

After nearly 14 years of Sourced, we are very excited to announce we are becoming part of the Expert360 Group.

Expert360 has built one of, if not the most powerful talent & job-matching platforms in the world. We’re thrilled to be able to bring more opportunities to our community of professionals and more talent, faster, to our clients. By leveraging the speed of AI and the keen filter of our experience, you will see a supercharged Sourced delivering the best outcomes, first.

We are currently in the throes of this exciting change and will look forward to updating you as we embark on this next part of Sourced’s evolution.

Who is in Demand?

It is difficult to pinpoint a key area of demand right now, with recruitment being in smaller volume and across the skill spectrum. As we discussed above, most demand is sitting in the mid-level professional space, with requirements sitting more heavily towards Infrastructure Support and mid-level Business Analysis, with demand for software development and professional services skills outside of BAU remaining quiet.

Contractors will do well to hang on to their current engagement as we see out this period. Extension times and notice periods are shortening up as employers seek the most flexibility and ability to off-board quickly if necessary.

Hiring Trends General Round-Up

At a recent BA Meetup here in Christchurch, our strong advice to the crowd was to stay put and let 2025 be your focus. This is our general position for all.

Employers are seeking better bang for their buck. Even with all tick boxes ticked, businesses remain cautious about committing to permanent hires. Fixed-term contracts are proving a popular space holder for future permanent roles, or capitalising on what would otherwise be contract hires. The power definitely sits on the employer’s side right now.

With low permanent turnover presently strengthening the employer position, we need to keep as eye on the situation as it starts to change (people leave/change jobs). You’ll soon see that as people change their minds, so too will the market.

As we are months late to this update, you’ll see more info sooner from us. Tech Shapers #2 for 2024 is next on the production line.

 

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