The latest report from recruiter Peoplebank predicts that, if demand for tech professionals continues to grow in 2018, organisations may need to offer salary increases to secure their preferred candidates for new roles and projects.
Peoplebank today releases its Salary and Employment Index, tracking salaries and rates being paid in the tech sector across Australia, and says tech jobs are on the rise and are expected to continue to grow steadily in 2018.
According to the company, while the number of jobs has increased, few technology professionals have seen a rise in salaries or rates over recent months.
With the rising number of tech jobs in Australia, especially along the east coast, Peter Acheson, chief executive of Peoplebank, observes that professionals with strong skillsets are increasingly able to choose the projects that they will work on.
Acheson says this trend is the first sign of a tightening skills market. If demand for tech professionals continues to grow in 2018, organisations may need to offer salary increases to secure their preferred candidates for new roles and projects, he adds.
The positive outlook for IT from Peoplebank coincides with another report released today by recruiter Clicks IT which paints a rosy picture of the business environment and predicts that 2018 will be the most positive on record for the sector, following on from a stellar 2017. Clicks say demand for staff continues to strengthen and IT budgets are expanding.
Acheson says that overall demand for tech professionals rose in the last months of 2017, especially for those with specialist skills.
“The growth in tech sector jobs has outstripped Australia’s broader jobs growth. In fact, demand for tech professionals is now nearly at historically-high levels, especially for those with digital, security, business transformation, business intelligence and data analysis skills.”
Acheson observes that demand is being especially driven by the east coast centres of Sydney, Melbourne and the ACT.
“Demand, especially in Sydney and Melbourne, is being driven by three factors: government investments in infrastructure, as well as the private sector’s transformational investments in technology that expands the organisation’s capacity to deliver products and services," Acheson commented.
“Thirdly, on the back of solid business confidence, business is updating its tech infrastructure to underpin business-as-usual operations.”