7 in 10 hiring managers find recruitment of tech candidates ‘very’ competitive 

Hiring managers cite three reasons for difficulty in hiring.

Half of the technology hiring managers plan to increase their headcount in the first half of 2024, however, most still find hiring talent difficult.

Data from Morgan McKinley showed that in 2023, 76% of technology hiring managers found recruitment ‘very’ or ‘quite’ competitive last year.

In 2024, hiring managers believe they will also be faced with obstacles such as a shortage of skilled candidates (25%), competing on pay and benefits (22%) and a lack of approval for new headcount (19%).

The report also showed that 46% of technology workers are looking for new roles in 1H24, whilst 31% are considering a move. 
When looking to move roles, technology workers value a higher salary (40%) the most, followed by career growth and development opportunities (14%), and the ability to work fully remotely (13%).

Flexibility continues to be important in the technology industry, with 42% of technology professionals preferring one to two office days a week and only 8% wanting to be on-site five days a week. Over half (53%) said they would even skip a pay rise if it meant they got the flexibility they desired.

Meanwhile, the report also found that 69% of employers expect their salary offers to increase for hard-to-fill roles across technology, and a further 20% plan to increase salary offers for all tech teams.

“It is likely that businesses are going to be more focused on salary corrections for their employees to hedge against inflation in an attempt to keep their existing headcount stable. This said in-demand roles will always be able to attain higher salaries,” Gurj Sandhu, managing director of Morgan McKinley Singapore, said.