Member Article

Despite recession concerns, the majority of tech leaders are planning their recruitment around market growth

• New research from RPO leader Talent Works reveals leaders are more concerned about skills hiring than a recession

MANCHESTER, UK and BOSTON, MA, 26th July 2022: Hiring, particularly in the tech industry, is still aligned to market growth. That’s according to leading Recruitment Processing Outsourcing (RPO) provider Talent Works, which today announced the results of its latest study gauging attitudes towards hiring in an uncertain economic landscape.

The research, which surveyed 500 technology leaders across the US and 200 across the UK, found that despite the chance of a recession, over 61% of leaders surveyed said they are still planning their recruitment drives around the market growth they are seeing.

This is in line with the most recent findings from the Office for National Statistics, which reports that the number of job openings in the UK from April to June was 1,294,000, an increase from the previous quarter. Figures are still above pre-pandemic levels, suggesting demand for workers has remained robust.

Further, tech leaders reported that finding the right talent is still a bigger business challenge than recession fears. Forty-eight percent indicated that they are concerned about a skills shortage and getting the talent and specific skill sets they need to grow their businesses. The findings also show that more than a third (37%) of tech leaders rank flexibility in hiring models as a top priority.

“We’re still seeing high levels of demand for roles across every sector, including technology,” said Jody Robie, Senior Vice President for Talent Works. “However, businesses need to find the right people within their budget to meet their growth predictions. We’re also seeing more businesses opt for flexible and embedded recruitment outsource (RPO) models as a way of extending their in-house talent teams. Beyond just getting resumes and hiring fees, this model allows them to understand the market and provides insight into the perception of their employer brand. It’s helping them to focus on growth, not recruiting, and it makes economic sense to establish a flexible sourcing relationship during a time when businesses need agility now more than ever before.”

This was posted in Bdaily's Members' News section by Lucy Jefferson .