As the tech labour market in the UK continues to rebound following COVID-19, the demand for tech jobs has accelerated year on year since 2019. Amidst uncertain times for most industry sectors, technology has been an enabler for employers, companies and communities to thrive and adapt.
With 2022 showing massive promise for the progression of the industry, let’s explore this year’s job market trends and the impact they’ve had on tech recruitment.
Tech Salaries
Demand for top tech professionals is snowballing, with salaries (already at an all-time high) continuing to grow too – currently up to 50% higher than the average job vacancy in the UK. This is despite the fact that the overall trend for UK salaries has been in regression since 2021. Statistics show that the majority of tech professionals – 60.9% – had an increase in salary between 2021 and 2022, and only 7.5% suffered a decrease.
Because of the relatively small talent pool, tech workers are now in high demand with recent studies finding that 89.9% of candidates either look for a new job when they don’t get a pay rise or attempt to negotiate other benefits. More than 50% expect a salary increase by 2023.
So, with forced digitisation and the mass move to virtual work, tech salaries continue to soar with no sign of slowing down.
Data-Related Skills
When it comes to the tech industry’s more profitable skills, deciphering data comes out on top.
Tech stacks are a combination of different technologies that work together to deliver and maintain a project or application. Many interlinking parts are required to generate an effective tech stack, and so candidates with the skills to build and maintain one have a great shot at landing a top job.
Understanding data storage and processing tools such as HANA, Hadoop and PAAS provide incredible opportunities. Similar data-related skills are among the most lucrative; jobs adverts requiring proficiency in SQL, Python (often used in data analytics) and AWS grew significantly between January and June 2022.
As more organisations gravitate towards processing data in the cloud, there’s no doubt that a demand for data-related skills will continue to grow in following years.
Tech Vacancies
As we approach the end of 2022, it’s worth noting that a staggering 14% of all workers in the UK are in the digital tech economy – 4.7 million people! From May 2021 to May 2022, tech jobs reached the top spot for UK hiring, in a show of the remarkable current state and future potential of the industry.
While technology continues to facilitate a new, hybrid way of working, keeping our economy afloat and providing stability for companies worldwide, the tech labour market continues to thrive.
As we look towards 2023 here at Morris Sinclair, we’re eager to assist employers and candidates alike in today’s ever-changing technology sector. With over 40 years of combined experience within the IT sector, we’re dedicated to matching exceptional tech talent with organisations worldwide – contact us today.
