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Seven in ten (70pc) tech employers in Ireland say wage pressure is a major hurdle they will need to navigate in 2024, while an even greater number (83pc) are grappling with the availability of talent as demand for skilled professionals escalates.
According to the 2024 Stelfox Salary Guide Survey, Ireland's IT sector is gearing up for the beginning of a rebound, with over two-fifths (41pc) of tech employers planning to expand the size of their teams this year[1].
Other notable highlights from the Stelfox report include:
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63pc of senior leaders believe it’s difficult to hire
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36pc of IT professionals plan to look for a new join in 2024
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14pc of job seekers will apply only for remote working roles – though many employers want to see teams return to the office more
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There has been a 24% decrease in the number of exclusively remote working-based roles in 2023
Clare McDonald, Commercial Director at Stelfox, commented,
“As the tech skill demands outstrip supply, many companies are embracing a new culture of learning. Emerging technologies are changing so quickly that by the time a tech organisation has built out the team they need, the skills in demand can already be shifting. Due to the accelerated pace of technology, at times there is virtually no talent pool at all. Many of our tech clients are thinking differently about where and how to attain the skills needed, rather than thinking only about headcount”.
Top Five IT Skill Categories in Demand 2024
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Data science / AI
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Security (Cyber and Cloud)
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Software Engineering
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Product Management
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Dev Ops
Comparing year-on-year data, Stelfox reports that many emerging technology-based IT roles are set to see some salary increases in the year ahead.
AI & Ireland’s Tech Industry in 2024
The Stelfox salary guide asked tech employers’ thoughts on Artificial Intelligence (AI):
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59pc of businesses believe that AI has the potential to enhance productivity and work conditions.
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30pc state that AI has already enhanced productivity in their business.
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Just 29pc of businesses agree that their organisation has the skills to adopt AI.
What is A.I. currently missing?
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Empathy
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Creativity
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Self-Awareness
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Self-Control
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Emotional Intelligence
Ms. McDonald observed,
“Most of our clients are actively embracing AI and are willing to invest in retraining to adopt it into their business. However, there is still a cohort of companies that remain cautious, expressing concerns about the potential for privacy issues, biased programming, and legal regulatory issues. Nevertheless, despite the economic and social challenges of 2023, the Irish employment market is expected to maintain its resilience for the year ahead. A.I. could be a truly amazing technology, however, there is still a way to go before A.I. becomes human-like”.
Ms. McDonald concluded,
“Over the last year, many large-scale companies have streamlined their organisational structures, aiming to reduce costs and secure long-term financial viability of their operations. To prepare themselves for future global economic shifts, businesses have curtailed non-essential spending, modified tech purchasing approaches, reviewed business process changes, and, when essential, implemented staff layoffs”.