Tag: IT Talent

The Shifting Landscape of Tech Talent: Challenges and Prospects in Ireland | Blog

Ireland’s allure as a top destination for tech talent is fading. This mature delivery hub for nearshore IT services still has much to offer but will have to overcome key obstacles to regain its appeal among international technology professionals. Gain market insights and forecasts for Ireland’s tech talent in this blog. To discuss this topic further, contact us.

In recent years, Ireland has been a magnet for job seekers worldwide, luring talent from diverse nations such as England, India, Brazil, the United Arab Emirates, Turkey, Sri Lanka, and Bangladesh. The country’s appeal as a destination has been fueled by abundant job opportunities, excellent quality of life, simplified work permit processes, and enticing government initiatives such as the Critical Skills Employment Permit and the Start-up Entrepreneur Programme (STEP). However, against the backdrop of a tech sector slump and a demand-supply disparity, Ireland is gradually losing its allure for foreign technology professionals.

Ireland has been a popular location for global companies looking to offer IT service delivery to nearshore Europe. Ireland’s diverse offerings encompass application development, infrastructure management, and other digital services. The nation’s strong talent proposition is underscored by 52,000 tertiary graduates and a thriving information technology and business processes (IT-BP) workforce, totaling 157,000 employees. The cities of Dublin, Cork, and Galway serve as prominent IT-BP hubs, contributing about 80% of the nation’s center setups, with global business services (GBS) making up the majority share at 75% of the total center setups.

While Ireland has been a preferred choice for job seekers, its appeal is waning among overseas technology talent due to various reasons. A surge in remote work options, prompted by the post-COVID era, has opened up alternate global work setups. Concurrently, factors like high living costs, housing constraints, a technology workforce demand-supply gap, and muted global tech sector growth contribute to this trend’s acceleration. Additionally, metro areas like Dublin confront issues with a dearth of international schools and high-income tax rates. Government efforts to alleviate these concerns are geared towards improving living standards through sustainable pay increases.

While programs such as Ireland’s Critical Skills Employment Permit and STEP are designed to attract and retain foreign talent. However, the acceptance and success of remote work have reshaped the scenario, making local talent shortages a thing of the past. Technology companies are tapping into the global talent pool through remote hiring, sidestepping relocation challenges.

These growth-related challenges are reflected in our ongoing tracking of IT job demand in Ireland through Talent Genius™, an interactive platform for insights into IT and business process services decisions. The talent demand for IT services has seen a relative reduction since January 2022, as illustrated below. This decline was most pronounced in the last quarter of 2022, driven by tech sector contraction, economic uncertainty, and job cuts. Although some signs of recovery appeared mid-year, the market dynamics have shifted from employee-led to employer-driven, reflecting cautious hiring practices.

Monthly tech talent demand (job postings) for IT services (indexed to January 2022)

January 2022 = 100

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Ireland boasts an operating cost advantage of 20-25% over London for IT application development and maintenance (IT-ADM) services. Nonetheless, tech salaries have remained steady in the first quarter of 2023 compared to the fourth quarter of 2022, reflecting a competitive yet inflexible market due to talent oversupply. Layoffs and conservative hiring practices have suppressed salary competitiveness. But as the market stabilizes, salary stickiness is expected to improve.

As global dynamics shift, Ireland’s position as a tech talent magnet has encountered new hurdles, and the inflow of international tech talent to Ireland is likely to decline in the short term. Nevertheless, with an upward trend in job numbers and signs of a tech sector revival, the second half of 2023 will hold pivotal insights into the future of Ireland’s technology workforce. Addressing challenges related to remote work, housing, taxation, and competitiveness is crucial to regain its appeal as a tech employment destination.

Be on the lookout for more talent information on other nations by clicking on our interactive platform, Talent Genius. Connect with Sakshi Garg or Aarushi Raj to discuss the latest trends in tech talent.

Top Employers for Tech Talent™ ─ Understanding Brand Perception from the Perspective of Tech Employees in India, the US, and the UK | Blog

In today’s competitive talent market, presenting a compelling brand image is critical to attracting and retaining the best tech talent. This blog presents the top tech employers in three markets based on employees’ brand perceptions of more than 400 organizations as well as other key findings from Everest Group’s research.

Download the report

Brand perception matters

Attracting and retaining top tech talent has grown increasingly difficult in recent years due to the impact of new work models during the pandemic, rapid technological advancements, and fiercer competition. These disruptions have played a significant role in shaping employees’ expectations, providing candidates with a wider array of options in selecting employers and job opportunities that align with their preferences.

Having employees with niche skillsets and expertise is increasingly critical to sustaining a competitive edge. A recent Everest Group survey found that 34% of respondents struggle to find quality tech talent, emphasizing that the battle for tech talent is still far from over and underscores the need for organizations to differentiate themselves.

Employer brand perception – or how current and potential employees view the organization’s brand – is one of the most critical factors in attracting talent. For employees and candidates, perception is reality.

In today’s digital era, employees can easily research and collect information on a company’s culture, reputation, policies and practices, and values. Online platforms such as Glassdoor and Indeed, social media, and various forums allow employees to access reviews, ratings, and feedback.

Based on these insights, employees develop their perceptions of an organization – but the potential issue is that these views can differ from the image the organization wants to project. Let’s look at research that helps to better understand this dichotomy.

Introducing Everest Group Top Employers for Tech Talent Report

While most organizations regularly collect internal feedback from employees, they can be blindsided by the perception of their brand from an outside-in perspective.

Everest Group Top Employer for Tech Talent™ report is designed to draw on publicly available information and the latest feedback capturing prospective employees’ perceptions about the organization’s reputation as a tech employer.

The report analyzed 400-plus organizations across India, the US, and the UK for their employer brand perception rating as a tech employer in the respective markets.

The study examined brand perception across dimensions such as compensation and benefits, career progression, senior management, work-life balance, culture and values, and diversity and inclusion. It also evaluated the performance of the tech employers in local talent markets, spotlighting attrition rates, joiner-exit ratio, and overall employee satisfaction ratings.

Insights from the report

The analysis of the outside-in perspective revealed fascinating insights into employee expectations. Tech employers need to watch the trends in employee sentiments to maintain a positive brand perception. Here are some takeaways:

  • Employer brand perception is dynamic and fluctuates over time. Job seekers are constantly evaluating employers who must be watchful of changing brand perception
  • Employee expectations constantly change, and approaches that previously worked may not be relevant now
  • Maintaining the status as a top employer is a monumental feat that requires an ongoing process of creating and maintaining a superior employee value proposition
  • Systematic local talent market differences play a critical role in determining employer brand perception. Employees in India, for example, assign varying degrees of importance to different components of employee value proposition compared to counterparts in the US and the UK
  • Perceived brand perception strongly influences and correlates with success in the talent markets for tech employers

Learnings from Top Employers: Shell and SAP

To better understand what makes the leading employers stand out, Everest Group hosted a webinar featuring two companies viewed as top employers for tech talent across all three analyzed geographies.

Jimit Arora, Partner at Everest Group, and Mihir Bade, Senior Analyst at Everest Group, discuss with Brandi Khouri, Vice President of Human Resources at Shell, and Shweta Mohanty, Head of Human Resources at SAP, the secret sauce behind their successes.

During the webinar, Shell highlights that the challenge to develop energy solutions of today and tomorrow, collaboration with experienced and high-caliber colleagues, the opportunity to create a direct impact, and a value-led environment are the keys to their success as an employer of choice.

For leading technology organization, SAP, connecting employees with its purpose and culture creates the difference. The core element of co-creation is well reflected in SAP’s employee value proposition of “we build breakthroughs together.”

To learn the details of these successes, view the webinar, 2023 Top Employers for Tech Talent: Create a Powerful Employer Value Proposition.

Enterprise and CIO leaders are invited to request a complimentary copy of the Top Employers for Tech Talent™ report providing an overview of their organization’s outside-in perception and a benchmark comparison with industry peers.

Download the report

Everest Group Talent Demand Growth Index | India IT Services | Blog

Welcome to our monthly India IT services talent demand index. We are excited to bring you this comprehensive analysis, powered by Talent Genius™, our AI-powered insights platform purpose-built to guide IT and Business Process Services location and workforce decisions. To gain a deeper understanding of the capabilities of Talent Genius and learn how to book a demo, watch this quick 2-minute video, Introducing Talent Genius™.

Monthly India IT services talent demand tracker

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Here is our in-depth analyses of the India IT services industry demand:

June 2023 update

The demand for IT services in India showed further recovery and grew by 15% compared to May 2023. For the first time in the last six months, demand also showed growth on a year-on-year basis (21% growth compared to June 2023). At a segment level, both IT ADM and IT infrastructure segments witnessed 14-month high demand levels in June 2023, with IT infra talent demand growing 40% on a year-on-year basis.

The growth trend, which started in May, is solidifying and was consistent across all cities, though the extent of recovery varied. Chennai saw a modest recovery, whereas Mumbai saw a significant spike in demand. We believe the demand surge in Mumbai may not be entirely due to net new demand but could be due to talent management/attrition challenges arising from the hybrid/in-office model and the need to back-fill resources.

The demand from service providers continues to grow, and we believe there is more focus on hiring laterals this year compared to the previous year, which saw a significant uptick in campus hiring. This increase could also be due to multiple large deals that are at play in the market and providers hiring in anticipation of winning large business in the medium term.

May 2023 update 

The demand for IT services in India showed a recovery in the month of May, growing by 34% compared to the previous month and staying flat compared to 2022. This spike compared to March and April could be attributed to buyers placing demand ahead of the summer in key onshore geographies, which tend to be slower from a business perspective. The increase in demand was consistent across both tier-1 and tier-2/3 cities; however, the recovery was much steeper for tier-1 cities (growing 14% YoY) compared to tier-2/3 cities (shrinking by 20% on a YoY basis). Among the tier-1 cities, all showed an uptick in demand; however, Pune set a demand record of a 17-month high. The service provider segment, while it showed recovery compared to the previous month, on a YoY basis, registered a 7% decline in demand. On similar lines, BFSI and technology & communications verticals continue to show a declining demand trend on a YoY basis. 

April 2023 update

The demand for IT services in India further shrunk by 17% in April, reaching a 16-month low, and declined by 29% on a year-on-year basis. The impact of the anticipated global economic slowdown is clearly visible in the latest demand trends. 

The declining trend is consistent across both tier-1 and tier-2/3 cities. Among tier-1 cities, Chennai, followed by Delhi-NCR, witnessed the highest decline. Tier-2 cities saw an even higher decline on a year-on-year basis at 32%. At this point, the demand for IT services talent in India is almost 50% of the demand in January 2022. However, this trend needs to be observed over a slightly longer period. If this trend continues for a few more months, the already reduced attrition numbers are likely to come down further. 

Being the first month of the new fiscal year for many leading India-heritage service providers, this indicates a not so good start to the year 2023-24, and declining talent demand is deeply correlated to reduced business growth.

March 2023 update

After five consecutive months of demand growth/stability, the demand for IT services in India dropped significantly (21%) in March and by 36% on a year-on-year basis. The declining trend in March was consistent across all tier-1 cities, though Mumbai witnessed the lowest decline among all tier-1 cities. 

The demand in tier-2/3 cities also reduced by 26% on a year-on-year basis. This overall declining trend is expected as Q1 2022 witnessed a significantly higher demand due to attrition and talent wars faced by the industry, and with the current economic environment, most companies are not in an expansion mode.  

Stay tuned for regular monthly updates as we monitor the landscape of the India IT services industry demand market. We’ll continue to provide the latest insights and trends, so you stay well-informed on locations and workforce developments.

The 2023 Top Employers for Tech Talent: Insights to Create a Powerful Employer Value Proposition | Webinar

On-demand Webinar

The 2023 Top Employers for Tech Talent: Insights to Create a Powerful Employer Value Proposition

Access the on-demand webinar, delivered live on July 6, 2023.

Maintaining a powerful employer brand perception is critical for organizations to attract and retain top tech talent. The demand for tech talent continues to overwhelm the available supply despite recent layoffs, and this trend is expected to persist over the next few years.

Everest Group is excited to share findings on this crucial topic from the second edition of the Top Employers for Tech Talent™ report, analyzing the brand perception of 300+ organizations across India, the US, and the UK.

Watch this on-demand webinar to hear our experts and the top-ranked employers of tech talent discuss how organizations can differentiate themselves by creating a strong brand perception, ways to attract and retain top tech talent, and how to better understand evolving employee needs.

The on-demand webinar presents a unique opportunity to develop a top employer brand perspective amidst economic slowdown and ongoing layoffs.

What questions does the on-demand webinar answer for the participants?

  • Who are the top employers of tech talent across India, the US, and the UK?
  • How have employee expectations changed over the last year?
  • What makes the best employers stand out?

Who should attend?

  • GBS site leaders
  • GBS strategy leaders
  • Heads of human resources
  • Talent acquisition heads
  • Talent strategy heads

Everest Group Launches ‘Talent Genius,’ an AI-powered Platform to Guide Workforce, Location Decisions for IT, Business Process Services

With Talent Genius from Everest Group, global organizations can build, monitor and optimize their location portfolio and talent hubs by staying on top of talent market dynamics.

 

DALLAS, Texas—April 3, 2023—Global organizations are constantly searching for talent locations that offer the right balance of cost savings, skills and risk profile, but they lack the credible, easily accessible data they need to make confident location and talent decisions. Everest Group is addressing that challenge today with the launch of Talent Genius™, its AI-powered cloud platform purpose-built to deliver critical location and talent insights for IT and business process (BP) services.

With Talent Genius, global organizations can build, monitor and optimize their location portfolio and talent hubs by staying on top of talent market dynamics. Talent Genius allows decision makers to interact with intuitive dashboards and visualizations to evaluate location attractiveness across economic and geopolitical risk, wage inflation, attrition, and talent supply and demand. Clients can monitor demand trends, talent hotspots, competitive intensity, and salary benchmarks for various roles and skills in the IT-BPS space.

***Learn more about Talent Genius***

“The global services market runs on the power of talent, so it’s critical that organizations make the right decisions when it comes to creating and optimizing their location and workforce strategies,” said Sakshi Garg, vice president at Everest Group. “That is why we are excited to expand our services portfolio with a new cutting-edge location and talent intelligence tool. With Talent Genius, at the click of a button our clients will have the highly contextualized, expert-vetted information they need to make those decisions—confidently. With our commitment to innovation and excellence, we are confident that this new offering will provide unparalleled value to our clients.”

Everest Group is the leading research firm in the global services space, with decades of experience in partnering with global IT-BP service organizations to provide location and talent insights to enable confident decisions. Talent Genius combines Everest Group’s proprietary datasets from years of research with ongoing talent market data to equip global services and IT-BP services industry leaders with powerful insights in an interactive, on-demand platform.

Talent Genius is a comprehensive membership that delivers on-demand insights through access to the Talent Genius platform, as well as guided expertise through access to Everest Group analysts. It also includes other deliverables, such as research reports. This unique combination of on-demand data and expert insights ensures organizations have the right level of support to make confident decisions in any scenario.

***Book a demo to explore how Talent Genius’ capabilities can provide value.***

About Everest Group
Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Global Services: Lessons from 2022 and Key Trends Shaping 2023 | Webinar

On-Demand Webinar

Global Services: Lessons from 2022 and Key Trends Shaping 2023

The global services industry found its stride coming out of the pandemic, quickly adapting to clients’ evolving needs and clocking double-digit growth rates in 2021 and 2022. However, as we look toward 2023, multiple factors – such as cost and price pressures, large-scale lay-offs, energy crises, geo-political instability, rising inflation, and GDP contraction – have left business leaders unsure of what to expect and how to prepare for 2023.

Join us as our experts reflect on the previous year and discuss global services trends, including the potential impact of the expected slowdown in the market on the overall workforce, sourcing, and the shoring/location strategies of enterprises.

What questions will the speakers address?

  • How did the global services industry perform in 2022?
  • What are the key trends and outlook for the global services market in 2023?
  • With rising macroeconomic uncertainties, how is the demand for IT-BP services evolving?
  • What are the observed trends in location strategies, and will talent concerns begin to fade?
  • Does sustainability take a back seat as the focus shifts to resilience?

Who should attend:

  • Buyers and providers of services
  • Locations portfolio strategy professionals
  • Leaders of workforce strategy
  • CEOs and CXOs
  • Global sourcing managers
  • Vendor managers
Agarwal Raghav
Practice Director
Kala Prashray Refresh gray square
Partner
Kaur Ravneet
Senior Analyst
Aniruddha edited

UK Sees “Global Portfolio” Dividends Across the Atlantic | In the News

The CrossConnect Forum is a platform for European and United Kingdom enterprise leaders to engage partners in the Americas to overcome increasingly intense operational pressures and sustain market leadership. This first-ever forum explored a new avenue of partnership-based innovation and examined new ways to re-think and re-design the core operating systems of today’s globally-focused organizations.

Rohitashwa Aggarwal, Partner, Global Sourcing, who joined a panel at the forum, discussed how the demand for tech and business services keeps expanding in the United Kingdom and other European markets. He suggests that in spite of this growth, talent availability remains a major problem for the region.

Understanding the Effects of Mass Layoffs on the Tech Sector | In the News

The dust has mostly settled on the job cuts that kicked off 2023. With workers in the tech sector taking the biggest hits, the long-term effects on IT talent are still playing out.

“In some ways, what was happening in most of 2022 was companies outside of technology were being starved of talent because tech was throwing a lot of money at the labor pool,” said Jimit Arora, partner at Everest Group.

Read more in CIO Dive.

The Last Word: CEE’s Value Proposition Is Stronger than Ever | In the News

Rohitashwa Aggarwal, Partner at Everest Group, shared his insight in Cross Connect Forum and gave an overview of the business services sector. 

“Globally, the industry has grown by leaps and bounds over the past 30 years, reaching US$300 billion. And even in 2023, with all the macroeconomic challenges, the series of layoffs that we are seeing, there is a huge demand for talent, technology, need to outsource more from a customer experience standpoint, from operations. The growth projection looks small compared to the last few years but if compared to the last decade, it stays on point,” said Rohitashwa.

Read more in Emerging Europe

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