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Greythorn Technology Market Landscape Outlook H2 2014
- 1. 1 Technology Market Landscape: Outlook for 2014
- 2. 2 Greythorn Overview Market Leader Greythorn is one of the most reputable specialist technology recruitment firms in Australia: • Largest Permanent IT recruiter in Australia: >500 IT placements per annum • Significant Contracting IT specialist supplier: >1000 new engagements placed per annum • Established in 1976 with offices in Melbourne, Sydney, Canberra, Brisbane, Chicago, Dublin, London, Sao Paulo, Seattle and Singapore. Key Differentiators • Vertical specialisation. We are experts in the professional markets we service. • Premium, value-based delivery. • Unrivalled consultant depth of experience, industry knowledge & tenure.
- 3. 3 Technology Industry Sentiment: The Survey
- 4. 4 Greythorn Hiring Manager Survey Source: Greythorn Client Survey
- 6. 6 Economic Outlook: Candidate & Manager How are you feeling about the future of the economy? Source: Greythorn Candidate and Client Survey In a significant change from last year Hiring Managers are more optimistic than Candidates. Optimism from the Hiring Manager side is also continuing to rise, having gone up by 24% year on year.
- 7. 7 Hiring Intentions Source: Greythorn Client Survey What are your hiring intentions in 2014?
- 8. 8 Hiring Intentions Source: Greythorn Client Survey • 58% of Technology/Digital sector Hiring Managers are expecting increase in headcount. • Only 24% of Government sector Hiring Managers predicting an increase in headcount. • Queensland the most polarised state. • Companies with large IT teams (201-500+) planning on expansion.
- 9. 9 Hiring Challenges Source: Greythorn Client Survey Cultural/team fit is increasingly important to Hiring Managers, pushing ‘the ability to do the job now’ down from the number one most important attribute last year to number two.
- 10. 10 Job Seeker Behaviour: Manager Perception Source: Greythorn Client and Candidate Survey What percentage of IT staff do you think are actively looking for a new role or keeping an eye on the market? The majority of Hiring Managers believe that only 2.5/10 candidates are looking for a new role, where in reality a significant 9/10 are.
- 11. 11 Perceived Job Security: Candidate Source: Greythorn Candidate Survey How would you rate your job security? Job security is at a record low with 34% of respondents feeling insecure or very insecure.
- 12. 12 Market Conditions: Skills Source: Greythorn Client & Candidate Survey What do you believe the most valuable skill sets in ICT will be in the next 12 months? Hiring Managers Candidates
- 13. 13 Topical Issue: The Recruitment Process
- 14. 14 Recruitment Process Time Lines: Candidate Source: Greythorn Candidate Survey The cost of being too slow; speed to fill is a strong competitive advantage.
- 15. 15 Recruitment Process Time Lines: Manager Candidates report that the recruitment process has taken longer, would you agree with this? Source: Greythorn Client & Candidate Survey Speed to hire when part of a quality selection process can be the cheapest comparative advantage in sourcing quality resources. Is it “not good enough talent” or “not ticking ALL the boxes”?
- 16. 16 Disclaimer This research was carried out by means of an electronic questionnaire. The remuneration tables are supplemented with data and market information that Greythorn has access to. The results are provided as generic market information only. Greythorn does not make any warranties regarding the use, validity, accuracy or reliability of the results and information obtained. Greythorn will not be liable for any damages of any kind arising out of or relating to use of this information.
Editor's Notes
- Greythorn’s experienced Technology consultants, technology specialisation and absolute dedication to premium delivery creates loyal and valued partnerships with our key clients. Depth of Knowledge Greythorn Account Managers are experts in Technology recruitment with an average of 4 years tenure and 6 years Technology recruitment experience. Specialisation Greythorn have been developing its brand and reputation over a 37 year period and is recognised today as one of the Australia’s leading specialist recruiters, by our candidates and clients. Our consultants are vertically aligned and are pure specialists, that are passionate about being recognised as leaders in their field. Premium Delivery Greythorn’s reputation in service delivery is unrivalled, our recent survey results showed: 99% of our candidates would use us again and recommend us 100% of our clients would use us again and recommend us Value Adds Premiums resume with detailed profile, premium reference checks, daily recruitment updates, automated SLA tracking, candidate and client care programs, comprehensive candidate evaluation process, regular IT market landscape presentations, free technical testing with TeckChek, salary surveys and market intelligence reports.
- Over 1100 Hiring Managers voiced their opinions in on the Australian technology sector. This year we have seen a significant increase in responses from the Finance and Insurance sector, with a 13% representation in 2012, growing to 21% in this year’s survey. We have seen a decrease in responses form the government sector, moving from 15% in 2013 to 9% in 2014. We have also seen a 49% increase year on year in the number of respondents with large IT departments (500+).
- Nearly 3000 professionals voiced their opinion about the job market in Australia. All survey responses, comments and insights have been consolidated for the Greythorn Market Insights and Salary Guide 2014/2015. These survey results are recognised throughout the Australian IT industry as an accurate representation of the industry and a market leading source of quality insights and opinions. The survey was carried out during the second quarter of 2014, and it was distributed in the form of an online questionnaire.
- IT candidates in Australia, are feeling less optimistic about the future of the economy this year – perhaps due to the new Government and budget changes. Hiring managers on the other hand are much more optimistic about the future of the economy in 2014 compared to 2013. This has risen from 37% to 46%. Looking at optimism by industry those working for Government organisations were the least optimistic about the future of the economy, unsurprising given the recent restructure announcements.
- With nine out of ten candidates looking for a new role and 36% of managers predicting increased headcount there is no bunkering down when it comes to IT. However, hiring intentions are slightly lower than 2013 - 36% plan to increase headcount in 2014 vs 39% in 2013 and 10% plan to decrease vs 11% in 2013. The main reasons to increase headcount in 2014 remain the same as 2013 ie Project specific work and workload, however expansion dropped from 27% in 2013 to 19% in 2014. Of those hiring managers who plan to decrease headcount in 2014, budget restraints remained the key reason for 60%, however this has dropped from 70% in 2013. Although more hiring managers are planning to reduce their contractor numbers, these are slightly more positive than 2013 with 21% aiming to decrease contractors this year (vs 25% 2013) and 17% looking to increase (vs 15% 2013).
- Looking to industry sectors, the Technology/Digital industry showed the highest expected increase with 58% planning an increase in headcount and only 4.5% expecting a decrease in headcount. Tying in with their lack of optimism those in Government were least expecting to see an increase in headcount in 2014 at just 24%, with 29% predicting a decrease. Those in Queensland are the most polarised, with 49% of respondents planning to increase headcount in 2014 and 16% also planning to decrease headcount. Interestingly, those with large IT teams of 201-500 are planning the largest increases, with 35% predicting an increase in headcount.
- The most important attribute when recruiting IT staff is cultural/team fit (32%), which has skyrocketed from 19% in 2013. The ability to do the job now has dropped to second spot. For Government however, the opposite was true – a significant 41% felt the ‘ability to do the job now’ was most important followed by ‘cultural/team fit’ (22%). In 2011, cultural/team fit was only most valued by 20% compared to 42% ability to do the job now – a massive turnaround for 2013.
- Managers continue to underestimate the percentage of their workforce that is job hunting, while that same percentage of candidates job hunting continues to grow year on year. The fact that over 90% of candidates are looking for work should be quite shocking for employers: Greythorn’s Hiring Intentions survey revealed the majority of employers believe only 11-25% of their staff would consider changing roles.
- Job insecurity has ranked this year at historically high levels, with over 1/3 of respondents feeling insecure or very insecure in their current role. This insecurity was particularly evident within the contractor workforce, the biggest threat being the fear of having their contract terminated at short notice. Candidates within the Government sector were particularly insecure. If employees are feeling insecure, the chances are they are closely keeping an eye on the job market. Improve your staff retention rate by powerfully communicating to your employees that there is no reason why they should feel insecure.
- Hiring Managers and candidates agree: Cloud Computing is the skill to watch. Aside from that though, candidates and hiring managers have very different ideas on what to watch over the next 12-24 months. Business Intelligence came in a close second for Hiring Managers, growing in demand from last year (42% to 45%). Also from a Hiring Manager point of view, Business Analysis and Programming saw the biggest drops as skills in demand, from (39% to 29%) and (32% to 22%) respectively. Soft skills are also growing in importance – 30% of hiring managers believe this is one of the most valuable skill sets to have. From our candidate survey, 57% of candidates also reported that they are getting growing pressure to increase their non IT skills in order to advance their careers. New to the list in 2014 was also Big Data - 30% of hiring managers viewing this as a key skill.
- 71% of candidates have lost interest in a role because it took too long. The cost of losing a good candidate to a competitor, having to start a recruitment process from scratch and the damage caused to a company’s brand by taking too long means that speed to fill should taken very seriously by hiring managers. Speed to fill is a competitive advantage for only a few successful organisations.
- Although recruitment process lead times still remain an issue, this has fallen slightly from 70% reporting it an issue in 2013 to 66% in 2014. There has been no change in the overall satisfaction of IT staff as seen by their hiring managers.