MORE THAN MONEY
Global tech work // life guide 2021
Redefining the world of recruitment
Talent is a global technology and digital recruitment specialist. We connect thousands of tech professionals with top organisations around the world. We're committed to creating the most rewarding experiences for our customers, clients, colleagues and community.
With unprecedented year-on-year growth, 27 industry awards in the past 10 years, world-class employee engagement levels, and the only recruitment business to be named on Gallup's Global Best Workplaces list - we're proud to be breaking from the pack.
Looking beyond the salaries
Don't get us wrong, money matters. But there's much more to a job than what you get paid. In this report, you'll find the latest salary data for permanent and contract positions in the cities Talent operates in around the world. You will also find a range of stats on the local tech talent pool, skills trends and the benefits beyond salary that candidates are looking for. Figures are based on data passed on to Talent from our clients, with additional sources cited.
GLOBAL MARKET OVERVIEW
The global technology market is evolving and growing. As a $5 trillion global industry, it has significant power in both providing opportunity to the workforce as well as rapidly disrupting the international work landscape.
Emerging technologies in the way of artificial intelligence, IoT, big data, and automation are generating disruption across all industries and are calling for the transformation of employee skill sets to adapt to this changing global market. However, emerging technologies are not the only thing driving change on an international scale. Add a global pandemic into the mix and we’ve got a bigger issue on our hands.
As global businesses are increasingly relying on such technologies in a shift towards interconnection particularly as the workforce has mobilised due to COVID-19, their prevalence is only set to increase. That means greater demand for tech professionals, right? Not exactly.
The economic impact of COVID-19 has seen many companies place their hiring plans on hold, and has seen demand for certain skillsets decrease. However, one thing’s for certain. The companies that continue to hire are seeking out top candidates who are appropriately skilled in areas of demand such as cyber security, data science, and data analytics. Possess these skills, and they will hold you in good stead as we move into the future.
Throughout this salary guide, our local market experts share insights on their geographic markets, and the impact the pandemic is having on hiring trends and salaries. Check out your city to see if you’re being paid what you’re worth.
SCROLL TO VIEW THE MOST IN-DEMAND SKILLS
As the global technology market grows and attitudes change, the world of work continues to be transformed. This has given rise to the growth of the contingent workforce. Driven by the appeal of greater flexibility and work-life balance, contractors are challenging traditional employment models. With specialised skills in emerging digital technologies, these contingent workers provide immense value to the changing global market.
At Talent we are redefining the way that contractors work, interact with their employers and look-after their general well-being. Scroll to find out more.
Permanent employees are incentivised by more than just a salary increase in the workplace. They seek a positive work environment, continuous training, good work relationships, and a sense of purpose. These intangible benefits are what drive workplace productivity and engagement. According to MetLife, employees who perceive a sense of purpose and are happy at work, rate high in productivity and satisfaction levels.
Similar to the contract market, permanent employees value flexibility. According to Harvard Business Review, 96% of US professionals cite that they need flexibility in the workplace, with a McCrindle survey revealing that a key driver of employee wellbeing is flexible working hours. With COVID-19, flexible work arrangements are increasingly considered a necessity, not simply an employee benefit. As the workplace continues to evolve, shaped by continuous lockdowns and COVID restrictions, flexibility has taken centre stage, with team members and managers alike advocating for flexible work arrangements. According to Talent’s Global Hiring Manager Survey, 85.53% of hiring managers are likely to consider homeworking on an ongoing basis for their teams.
As the global tech market grows and emerging technologies increase in number, further advanced by necessity as a result of COVID-19, the workforce continues to be redefined. This presents opportunities for the permanent market, posing new strategies to assist this workforce in reaching its full potential in a rapidly changing digital age.
IT'S NOT (ALL) ABOUT THE MONEY
Insights for hiring managers by Talent's Chief Strategy Officer and employer brand expert, Ian Tyler.
When promoting the benefits of working at your organisation to any potential candidates, don’t assume money is the key motivator in this modern world. Clearly, remuneration is important and can entice high-performers initially, but in our experience it is not enough to retain them. Research shows the key factors that lead to high staff retention rates and therefore influence decision making to join a company include:
BRAND & CULTURE
Having a compelling employee value proposition, and a strong employer brand that puts the human front and centre and provides challenging and varied work. Employees free to use their own judgement and initiative to solve problems and who are provided with a varied work portfolio are more inclined to maintain an interest in their work and remain motivated and engaged in the workplace.
In summary, its more than money. It’s about you as a brand, a heart, a mind and ambition as a company that will make the difference in attracting, engaging and growing amazing talent in your company. If this is something you could use a hand with, please feel free to get in touch.