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Tech and Cyber Market Insights – June 2024

  • Skills-Based Hiring on the Rise: There is significant emphasis on skills-based hiring across tech giants. Companies like Google and Amazon reported that over 70% of their recent job postings prioritized candidates’ technical competencies and practical skills. This shift underscores a growing preference for hands-on experience over traditional qualifications.
  • Hiring is down generally this month: This is mainly due to the upcoming election, but many firms plan to start recruiting again post-election. There are pockets of activity where the market remains very busy e.g. operational resilience, driven by the new DORA regulations.
  • Cyber Security Mental Health: Burn-out and mental health concerns are at an all-time high in Cyber Security and we are seeing a positive trend in outsourced SOCs being utilised at the weekends to give in-house teams a break.
  • Demand Surge for Cloud Computing Experts: The demand for cloud computing professionals has seen a sharp uptick. Microsoft and Salesforce announced a 50% increase in job openings for cloud-related roles compared to last year. This surge is driven by widespread cloud adoption across industries and the need for skilled professionals to manage complex cloud infrastructures.
  • Diversity Initiatives at the Forefront: Diversity and inclusion efforts have gained momentum in IT and Cyber recruitment. Facebook and Apple have committed substantial investments to diversity programs, aiming to increase representation of underrepresented groups in tech. Initiatives include targeted recruitment strategies, mentorship programs, and diversity scholarships to foster an inclusive workforce.
  • Specific niche skills: for technical security and data privacy roles are still difficult to find and usually require a headhunt search, despite there being many available candidates in the market. A lot of active candidates do not possess the levels of skill and capability required for specialist roles.

Sophie Spencer

Head of Cyber Security Recruitment
ss@barclaysimpson.com

Sean Dalmeny

Head of Technology Recruitment
sdd@barclaysimpson.com

Please get in touch if you would like advice on hiring in the Technology or Cyber Security market.
Barclay Simpson has 20 years’ experience of hiring into this space and we can offer deep insight into how the market is changing and how to secure the best candidates.