“Disaster is a laboratory for innovation” -Zachary Pardos
COVID-19 has reshaped 2020 technology hiring to a new horizon that we have not previously experienced. The global pandemic has dictated how companies should do their hiring, and it has plunged everyone into uncertainty. All this has inevitably shaped the future in regards to how we attract talent and has a profound effect on talent acquisition within technology.
We continue to see many multinational companies being obligated to freeze hiring and making tough decisions to make cuts within the workforce as cost-savings measures. Here are some additional trends we are seeing in technology hiring across all industries:
1. Business Continuity Plans (BCP) being challenged
Since working from home is the future, numerous companies, especially in the fintech and insurance spaces are putting increased importance on their BCP to ensure they address synchronisation between business processes, applications and IT infrastructure. As a result, there is an unusual rise in hiring for the Infrastructure space for roles such as network engineers, server professionals and Infrastructure support.
Many companies are now starting to realise the importance of mobility within their organisations. We know that prior to COVID-19 companies in the Philippines have been reserved about allowing work from home (WFH) setups. COVID-19 taught firms to adapt and we are certain that we will see WFH become a benefit offered by companies in order to remain competitive and attractive to local talent. Candidates will be looking for this benefit before entertaining and then accepting a job opportunity. For example, tech giants such as Google and Twitter are saying their employees can work from home forever if that’s what they prefer, and other companies will have to respond to remain competitive.
3. Rise of Fintech start-ups
Digital transformation has been a buzz word in the technology scene for a long time. But COVID-19 has expedited the need for multinational companies and even SMEs to work on transforming their digital platforms. Fintech companies are the best examples. They are now experiencing a huge spike in hiring needs, mostly in application development across fintech borders in the forms of payment, wallet, remittance, ecommerce and even crowd funding.
Future of technology hiring
The demand for new hires within technology has been strongly affected by the pandemic, but we are already starting to see companies integrating to the new normal. Application Development and Data and Analytics roles will be rampant in the Philippine market in the next coming months and throughout 2021.
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