Meet-up Recap from Jan 23rd, 2023
We wanted to start 2023 with an evening where we present and discuss the current trends in the Swiss IT Job market. Why now? The dynamics in the job market remain high: What kind of impact does remote work have on companies and employees? How are salaries developing in the current inflation? How is the tech and crypto crash affecting employment?
Together with Greg Tomasik from SwissDevJobs, we discussed the ongoing changes and challenges in the Swiss IT job market. Greg's team at SwissDevJobs has just recently published the "Transparent IT Job Market Report 2022" and gave insights into how Covid and remote work changed the working conditions in the Swiss Tech market.
We were happy to welcome a perfect mix of candidates and recruiters in the Swiss IT market, contributing to an open and engaging discussion with the experts! After the official part, networking and apero were presented by SwissDevJobs and Rockstar Recruiting! It was great seeing you, and we look forward to our next event!
- There's Momentum for SMEs & Corporates, which is better than the one for Startups.
The ratio of open tech positions has shifted from Startups to SMEs and Corporates. VC funding for startups has been drying up recently as investors have become more cautious about putting money into high-risk ventures. As a result of this trend, there is growing momentum for small and medium-sized enterprises (SMEs) and corporates. These established businesses are seen as more stable and less risky investment opportunities and therefore are more likely to receive funding from investors. As a result, SMEs and corporates are able to invest in their growth, expansion, and new opportunities; this is creating momentum and stability in the market.
- “RTO” - Return to (hybrid) office?
Remote work has been found to increase productivity in some cases, as employees can work in an environment that is comfortable and free of distractions. As the study from SwissDevJobs has found, over 50% of tech employees can work fully remote. This does have some benefits, such as reduced costs for companies, as they don't have to maintain large office spaces and can save on overhead expenses. Also, allowing for an at least partially remote model helps to attract and retain top talent as it allows employees to have more flexibility in their work arrangements. Furthermore, remote work is particularly popular among tech talents, as statistics show that remote jobs are viewed 1.7x more and remote job applications are 2.5x more.
- Now is the time to invest in AI & Cyber Security – and the respective talents.
There are a few reasons why now may be a good time for a recruiting company in Switzerland to invest in AI and cybersecurity talents. The demand for AI and cybersecurity professionals is rising due to the increasing use of technology in various industries, such as finance, healthcare, and manufacturing – and with the latest developments in AI, that made the news. Once everyone hops onto the train, there will be a shortage of qualified AI and cybersecurity professionals, which can create opportunities for companies to fill these roles. Also, Switzerland is a key player in AI and Cybersecurity: Switzerland is a leader in AI and Cybersecurity research, and many companies in Switzerland are looking for talent in these fields.
- Consolidation of salaries – it's a thing.
As has been shown in the recent developments of the cryptocurrency market, the value of cryptocurrencies can be highly volatile and may fluctuate greatly in a short period of time. As a result, if an employee is being paid a significant portion of their salary in cryptocurrency, the value of that salary may decrease significantly if the value of the cryptocurrency decreases – which is happening at the moment.
- It`s still a candidate`s market ... but experience & on-site availability pay off.
Due to the recent layoffs, even more tech talent has been released into the market. Those tech talents often have great academic records and have been working for a short while and therefore have crucial skills that people who start fresh from university still lack.
Link to the full slide deck: Current Trend in the Swiss IT Job Market – Slides
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