As of 2023, the tech sector continues to experience layoffs due to an unstable macroeconomic climate. Investor confidence has hit rock bottom in response to prolonged supply chain disruptions, rising inflation rates, and ongoing conflict in Ukraine.
The e-commerce boom catalyzed by the pandemic sparked an intense flurry of hiring activity among tech companies. Unfortunately, as living costs increased and economic conditions grew more uncertain, these corporations had to tighten their budgets.
Despite the challenge presented by market fluctuations, developers have maintained a high level of confidence. Recruiters and professionals are adapting to these changes seamlessly and aligning their expectations accordingly.
To capitalize on this, Moneyzine.com shares significant benefits developers have in 2023.
5 advantages of being a developer in 2023
- Developers and recruiters are aligned on skill requirements
The top three skills developers desire are web development, AI/machine learning, and game development. Recruiters are looking for candidates with skills in web development, DevOps, and database software development. While game development stands out as a skill that is highly sought-after by developers but not recruiters, there aren’t any significant gaps in the popularity of the other sought-after skills.
- Developers are confident about job security
Despite significant workforce reductions by many Big Tech companies, developers remain confident about their job security. Almost one-third of them feel more secure in their jobs compared to the previous year, while 41% report no significant changes. This confidence may be due to the high demand for developers, which remains strong despite challenging macroeconomic conditions.
The Bureau of Labor Statistics predicts a 22% increase in developer job openings between 2020 and 2030, compared to an average growth rate of 8% in other industries.
Interestingly, over 51% of surveyed developers are considering switching jobs in search of better pay. Meanwhile, 42% of recruiters report an increase in resignations among their tech employees over the past year.
- Talent retention has become a priority for recruiters
Businesses are making significant investments to retain their talent. 42% of companies hiring for tech roles see reducing employee turnover as their top priority. Retaining talent has consistently been the second-highest priority for three years in a row, until now.
The priority of retaining employees reflects the increasing discontent among developers, with half of them contemplating job changes, and indicates that companies are taking measures to improve retention rates.
- Increasing demand for unconventional challenges
The increasing offerings for developer jobs is being met primarily because becoming a developer has become an accessible career option. As a result, the number of free resources, online courses, and boot camps has grown significantly.
Currently, almost 60% of developers don’t hold a computer science degree, and an overwhelming 80% of recruiters do not require one.
Among those who have pursued non-academic paths, nearly one-third are self-taught using various online and offline resources, 6.98% have completed a short-term training program like a boot camp, and 3.88% have finished an online course.
Web development is the most in-demand skill among recruiters and does not necessarily require a related academic degree.
- A flexible career option
The gig economy is booming across the board. In just one year, the number of freelancers in the US rose by 39% and accounts for 15% of the total workforce in Europe.
Both developers and recruiters have been increasingly relying on the gig economy. The number of companies seeking freelancers to plug skill gaps in tech departments rose from 42% in 2022 to 63% in 2023. This could be a ripple effect of mass tech layoffs – as tech giants lay off staff, they are likely to lean on freelancers for support to fill in the lost talent.
As stakeholders have begun to prioritize skill development and talent retention and companies competing with offers of flexible work hours and opportunities, being a developer jobs will be a great career option for the future with many advantages.
Source: Moneysize.com
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