2022 Tech Trends and Digital Insights
As consumer demand for digital and all it encompasses has grown, many companies are innovating, shipping, coding, creating, marketing and sharing at lightning speed. And for this to work, companies need talent! Over the past 12 months, we have seen exponential growth in a handful of industries including eCommerce, Fintech (and Crypto), Proptech and Healthtech. But all have one thing in common – it’s a rapidly changing world out there and for technology-first businesses, an organisation is only as good as the people it employs. A hiring manager’s ability to attract and retain great talent determines their ability to remain relevant and competitive.
Have you heard the good news? After many wo(man) hours collating digital insights and salary rates, Hunt & Co. have launched our Digital Salary Guide. But this Digital Salary Guide is more than a booklet with salary benchmarks. It is a comprehensive guide to ensure employers and employees alike are armed with the information they need to succeed. For many businesses, 2021/22 has been a challenging yet exciting time and we are excited to dive into some of the top digital trends in the Brisbane job market right now. Download the Digital Salary Guide
Here’s a look at some of the major digital trends we are seeing in the Brisbane job market right now:
Salaries are going up up up
One prevailing global trend in industry is the current tech skills shortage, creating headaches for companies as they navigate a market full of candidates with heightened expectations. Increased salaries are just one of these expectations. But what is the insight here for hiring managers and employers? Simple. It’s a candidate-market so you must review your salary offering to keep in line with market expectations and so you can ensure you are retaining and attracting the market’s top talent. Keep in mind though, monetary perks can come in other forms, not just salary. For example, consider offering equity and employee share schemes. This might not be on the table from day one; however, simply knowing that an employer is open to discussing equity options in the future can create commitment and loyalty to value creation.
Authentic perks only please!
Following a similar trend as above, candidates are looking for perks beyond free lunches and beanbags. Candidates are looking for authentic perks that add value to their career or day-to-day life. As an employer, think of this as your opportunity to get creative and potentially involve your team in the process. What do they want to see? What would incentivise them? What are other companies doing to retain staff? Perks we are seeing more of include remote and flexible work options, learning budgets and attractive ESOPs. But the list is virtually endless. For more ideas, read our whitepaper on Non-Monetary Perks for Employees. Inside you will find no less than 31 non-monetary perks to help attract and retain value-aligned candidates.
Value-alignment goes both ways
Speaking of value-aligned candidates… Candidate priorities have shifted toward value-aligned work and workplaces. Though most candidates recognise they won’t always be contributing towards solving global issues, like fighting climate change, they are actively looking to help, not hinder. This presents a huge opportunity for companies to leverage the good work they do for the community and involve current and potential employees as part of their employer branding strategy.
Workplace mobility is a must
Candidates want flexibility. Simple as that. In an increasingly isolated world, there is a growing demand for hybrid work. Organisations that aren’t empowering their people to work from home are losing candidates to their more flexible organisational peers. We expect to see more job sharing and part-time work opportunities arise as companies scramble to fill vacancies in 2022. At a minimum, it is expected that employers provide the best of both worlds and allow time for employees to connect together in person and also have time at work for deep work. This provides candidates with the sense of autonomy they crave and puts them in the driving seat of their own career allowing the individual to control when and where they work.
The Great Resignation
You can’t talk about the current job market without mentioning The Great Resignation with Eric Knudsen (LinkedIn people science senior researcher) saying “employees are reconsidering not just how they work, but why they work“. It is an absolute rarity these days to open Linkedin and not see a post by someone announcing a new role. What is evident here is that candidate confidence is at an all-time high. Candidates are leaving roles without securing a new job. Loyalty bonuses are also not having the same effect they used to. Today, it’s all about the intangibles. What is your company doing to compete with more agile, personalised and therefore connected working cultures that the workforce are craving?
Emotional intelligence is underrated
The ability to connect with your employees on a real human level is proving to be a huge trend. Increasingly, managers are expected to be comfortable discussing and supporting a candidates’ emotional wellbeing, not just their role performance. This puts increasing pressure on business leaders to upskill and sharpen their emotional intelligence so their team can feel seen, heard and most importantly, valued on a personal and human level. This awareness begins with self-reflection, emphasising the important of listening skills and creating an environment where employees feel supported and encouraged to voice their feelings.
The V word… Vaccinations
Did you guess the word? We are talking about vaccinations right now. More and more we are seeing employers require vaccination from their employees, something previously only requested from blue-collar employers working in close proximity. With approximately 91.3% of Queenslanders vaccinated the question remains, how do employers navigate the murky waters of mandating vaccinations? Here are some suggestions from Fair Work Ombudsman on supporting employees through the pandemic:
- Offer employees leave or paid time off to get vaccinated
- Ensure employees have access to reliable and up-to-date information about the vaccines – visit the Department of Health’s website to Approved COVID-19 vaccines
- Where employees are unable to be vaccinated or choose not to get the jab, exploring other options including alternative work arrangements
Hunt & Co. recommends employers seek legal advice when considering mandatory vaccinates in the workplace.
The diversity conversation
Diversity – an ongoing conversation that expands well beyond gender. While increasing the number of women working in technology is still a priority with females making up just 29% of overall technology employment in Australia (according to an ACS Digital Pulse Report), increasing diversity on all levels is expected to be a major focus going forward. According to the same report, increasing diversity in the technology workforce would grow Australia’s economy by $1.8 billion each year on average over the next 20 years which could translate to 5,000 FTE jobs on average, each year. Diversity recruitment continues to be a proud focus for Hunt & Co. through our partnership with Women in Digital and we look forward to partnering with many value-aligned companies in the future.
Diversity programs are also helping bridge the talent shortage gap by tapping into underutilised talent pools.
HR expertise remains essential
If one thing has become abundantly clear throughout these trends, it’s the candidate experience. Companies can no longer afford to treat recruitment as a non-critical business function. Companies with the most success align themselves with talent partners that deeply understand their business needs and root problems that great talent will help to solve. Here at Hunt & Co., we work to be your internal talent advisory team, that just happens to sit outside of your business. If you are looking for a recruitment partner that deeply understands the digital ecosystem, come talk to our team today.
Our goal at Hunt & Co. has always been to work in collaboration with Brisbane-based digital companies to grow and retain happy, high performing and diverse teams! For more insights into top digital trends in the Brisbane job market and insights into what the industry is currently paying for valuable digital talent, download our Digital Salary Guide now!
Want more industry insights? Download the Digital Salary Guide