2019 Market Update: demand for technology professionals

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In 2019, hiring managers’ recruitment strategies will need to help them generate a greater intake of specialists in several areas. Cyber security professionals will be in high demand, in the wake of high-profile security breaches and increased regulatory scrutiny in 2017 and 2018.

Development and digital specialists will also be high on the list, especially those with experience in digital transformation. Likewise, more business intelligence and data management professionals will be required to guide the rebuilding of services and products around customer behavior.

Areas in demand

Core areas of demand will remain in 2019 across data and software engineers, especially those with 1-5 years’ experience where supply is low. Demand will be lowest for roles in infrastructure, customer relationship management and systems analysts.

We have seen significant growth in hiring within the fintech industry over the past few years and expect to see this continuing through 2019. Technology is transforming the way in which business is conducted, and the financial services market is no different. Start-ups in robo-advice, online lending platforms, crypto-exchanges and block-chain technology are all looking for top-tier technology professionals and are using equity packages and other long-term incentives to attract them. On top of this, traditional financial services firms are attempting to engage and maintain their customers through greater use of technology in their businesses.

Attracting and retaining talent

To remain relevant and competitive traditional firms have started to adapt by integrating fintech innovations into their businesses and are often looking to recruit external talent from a fintech background.

The sophistication of automation is accelerating faster than ever before thanks to artificial intelligence (AI). Job displacement has already begun in many sectors and studies have shown that potentially up to 40% of the jobs that exist in the US today will disappear in the next 15years, as a result of technology.

But while many jobs may be in jeopardy, many others will be created. According to Accenture’s global study of more than1,000 large organizations already using or testing AI and machine-learning, entire new categories of jobs for people are being created.

Many technology professionals will need to adapt, upskill and retrain to thrive in the jobs market. Our research shows that technology professionals in the US are keenly aware of this – nine out of ten said automation will impact the skillset they need within the next five years. But while two-thirds said that automation is already impacting hiring strategies, the urgency of the situation may not have dawned on all technology professionals. 78% said that shifts in automation meant they must upskill to futureproof their careers, yet only half had proactively enrolled in courses to do so.

2019 expectations

Although the West Coast is recognized as the technology hub of the US, we are seeing demand for technology professionals in many of the main US states and cities. Amazon’s recent announcement to locate one of its secondary headquarters in New York City is a sign that the East Coast’s technology sector is truly competitive. The size and scale of their operations should have a noticeable impact on the East Coast technology recruitment market.

Most employers in the US expect workloads to increase for their technology departments in 2019. Employers plan to recruit more contractors, recruit more permanent resources and/or outsource work to technology consultancies in 2019. Skills shortages in several specialist areas will be more acute than ever.

For further insights, download a copy of the 2019 Market Update: Technology

Or, for more information on how Robert Walters can assist with your hiring needs, please get in touch with a consultant.

E:  newyork@robertwalters.com  |  T: 212 704 9900

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