Reflecting on the key trends and developments from the past year offers an opportunity to learn and prepare for the future.
This year, we used the Global Tech Talent Trends Report 2024 as the perfect tool to reflect on these transformative shifts, serving as a throwback of the year with the main highlights and lessons from the IT talent community while inspiring us to embrace the evolving landscape of the global tech talent market.
Exciting highlights from 2024
1. Specialised skills lead the way
Demand for niche expertise in fields like artificial intelligence, machine learning, cybersecurity, and cloud computing continued to grow. Professionals with these specialised skills found themselves at the forefront of innovation, with opportunities expanding globally despite the broader slowdown.
2. Remote and hybrid work
The hybrid work model transitioned from being a response to the pandemic to a permanent standard for many companies. Professionals increasingly prioritized roles that offered flexibility in location, while companies acknowledged the benefits of these arrangements in terms of both productivity and employee satisfaction.
3. Employee-centred benefits take center stage
As the job market tightened, organisations recognised that competitive salaries alone weren’t enough. Comprehensive benefits, from wellness programs to career development and meaningful work, became essential for retaining top talent. Companies prioritising holistic employee experiences stood out in a market where professionals sought more than just a paycheck.
4. Building diversity: strides made, challenges remain
Efforts to improve diversity across tech teams continued, with tangible progress in representation. However, gaps remained, particularly in leadership roles and emerging markets. This underlined the need for sustained commitment to building truly inclusive workplaces.
Main lessons from 2024
The insights from 2024 offered several critical lessons for IT professionals and companies alike, highlighting the need to adapt, prioritise talent, and focus on continuous development in a rapidly changing landscape:
- Embracing adaptability
The fast-paced evolution of technology demands that professionals and organisations stay agile and ready to pivot in response to new challenges and opportunities. - Reinforcing people-first cultures
Employers who understand what their teams genuinely value, such as flexibility, opportunities for growth, and a sense of purpose, are in a stronger position to attract and retain top talent. - Recognising the fast and continuous skill development needs
As technology advances at an unprecedented pace, the need for upskilling and reskilling has never been greater.
Professionals who prioritise lifelong learning and embrace emerging tools and technologies are better positioned to thrive in a competitive job market. Similarly, companies that invest in their teams’ development are more likely to retain high-performing employees and foster innovation.
2024 was undeniably a year of reflection, adaptation, and growth for the tech community. These lessons form a strong foundation as the industry prepares for what lies ahead.
The importance of market data
Market data has become crucial for both companies and IT professionals, reducing the asymmetry of available information on both sides of the IT job market.
It provides valuable insights, helping each party make more strategic decisions. According to the 6th edition of GTTT 2024 report, one of the key findings is the continued stagnation of the market.
This has had a tangible impact on salaries, with the average gross annual salary increasing by a mere 0.4%, far below the inflation rate. Additionally, the motivation to change jobs has remained low, with an average satisfaction score of just 5.9 out of 10 within the IT professionals. Additional key findings:
- There was a notable reduction in the percentage of IT professionals working remotely for cross-border companies, dropping from 22.6% in 2023 to 16% in 2024, reversing the previous two years’ trend.
- The number of IT professionals working in hybrid roles decreased by 6.9%, while those working in full-office roles increased by 3%, and those working fully remotely increased by 3.9%.
- The most significant increase was seen in the proportion of non-portuguese IT professionals relocating to Portugal, with a 5.1% rise in this demographic within the country’s IT workforce.
You can check the full report here: GTTT 2024.
What’s next for the tech talent community?
As we step into 2025, the focus shifts to the Iberian tech talent market, where unique challenges and opportunities await.
The evolving dynamics in Portugal and Spain call for deeper exploration and understanding to address the needs of professionals and companies in the region.
Now more than ever, your insights and experiences can help shape the future of the tech talent landscape in Iberia.
By reflecting on this 2024 main highlights and lessons from the IT talent community and contributing through a 2 minute-survey with your perspective, you can guide future companies within this ongoing evolution.
Join the Iberia Tech Talent Trends 2025, fill out the survey!
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