These countries are hiring ‘skilled’ techies amid massive layoffs in the US

The 2024 Salary Guide by Morgan McKinley highlights the key challenges facing the industry this year. 25% of hiring managers cited a scarcity of skilled candidates as their primary hurdle, followed by difficulties in offering competitive pay and benefits (22%) and obtaining approval for a new headcount (19%).

Despite these obstacles, optimism prevails for 2024, with half of technology hiring managers planning to increase headcount in the first half of the year. Furthermore, 46% of technology workers are actively seeking new roles, with an additional 31% contemplating a change.

Kaidatzis emphasised that organisations can enhance their skill pool and tap into cutting-edge technologies by considering non-Japanese-speaking professionals based overseas. The competitive landscape for technology talent in Japan remained intense in 2023, posing challenges for businesses in securing skilled professionals.

As companies strive for quality over quantity amidst limited headcount, the hiring process has become increasingly competitive. With skilled professionals fielding multiple offers, employers must expedite their offer timelines to attract top talent. Even minor delays could mean losing out on key hires to competitors.

Azure, Data and Python, AWS/Cloud and AI/Machine Learning are some of the key skills in demand and full-stack engineers/developers, solution architects, engineering leads, DevOps, tech leads and site reliability engineers (applications-side) are the top roles in demand.

Rohit Kishore, Global Delivery and Talent Officer at Randstad Digital noted a resurgence in layoffs in the US and other countries, attributed mainly to workforce restructuring. He told CNBC-TV18 that despite these challenges in some regions, compelling opportunities are emerging elsewhere, especially in Germany and Japan.

Germany, in particular, is actively addressing its shortage of STEM specialists with attractive salary packages, focusing on sectors such as engineering, IT, biotechnology, and data science to position itself as a tech talent hub, noted Kishore.

Kishore also pointed out that countries like the Netherlands, Canada, the UK, Switzerland, Sweden, and Denmark offer favourable prospects for tech professionals. These nations actively welcome students and workers, addressing shortages in skilled labour through competitive pay and benefits.

In terms of in-demand roles, Kishore highlighted cloud engineers, cybersecurity experts, and data professionals, including data managers/directors, data leads, and data engineers. He emphasised the pivotal role of Chief Data Officers (CDOs) in shaping data strategies, with roles related to digital transformation skills also commanding competitive salaries.

Shifting focus to India, Ankit Aggarwal, CEO of engagement and hiring platform Unstop, stressed that the demand for tech talent remains high. Aggarwal attributed this to the rise of entrepreneurship and the growing startup ecosystem in India, providing opportunities for tech talent to contribute to products and services that impact consumers' lives.

In-demand roles in India include product managers, data scientists/engineers, DevOps engineers, cloud architects, and cybersecurity engineers.

Pranshu Upadhyay, regional director at staffing firm Michael Page India, acknowledged layoffs at tech giants but highlighted opportunities at companies in their investment phase, particularly those in pre-seed or Series A funding stages. These companies prioritize growth over operational efficiency, presenting opportunities for tech talent.

According to Michael Page India, the demand for tech talent in the ecosystem continues to grow, however, the answer may not be located to different geography but upskilling.

Artificial intelligence (AI) being the buzzword for last year will continue to rule the scene for the foreseeable future. There are 50% more jobs in AI on a year-on-year basis in Q42023 and the trendline continues to grow, he said.

Upadhyay added that there is limited experience in LLM (Large Language Models) under AI and if the current tech talent can continue to upskill themselves- they will have a brighter chance of bagging the coveted jobs.

“India continues to be a place for tech talent and has moved from a service provider to a category creator on the back of innovation,” he said.