At a time when top IT companies are seeing a reduction in their net headcount, there is a divergence between tech workers and their sales counterparts when it comes to the rate of headcount drop. Macro uncertainties have made sales cycles elongated, with increased scrutiny on project approvals by clients. Therefore, the importance of sales work has increased significantly of late.
Peter Bendor-Samuel, CEO of Everest Group, said, “It is important to remember that all these firms went into a hiring spree (software professionals) last year. They ended up building excess capacity, hoping for a continued accelerated growth of the industry they were seeing then. As the macro challenges started impacting services industry demand – discretionary pullbacks, delays in project ramp-ups, pricing pressures – they got left with an overstaffed situation.”
As 2023 draws to a close, business analysts across the board are all rolling out their predictions of workforce and staffing trends to watch for 2024. There seems to be a growing consensus around several topics that HR and talent acquisition professionals must address in the coming year.
Everest Group‘s reports on workforce management, improving time to hire will be a crucial differentiator for business success in 2024. We predict that businesses will use contingent workers in 2024 to speed up the acquisition of essential skills and bypass hiring freezes. We also anticipate that generative AI will reduce the time required to identify, source, and engage talent.
Is your location portfolio and workforce strategy primed to manage black swan events, persisting economic uncertainties, cost and price pressures, and the geopolitical changes of today’s business landscape?
Watch this webinar as Everest Group experts deliver approaches to secure maximum value from delivery location portfolios and offer exclusive insights into the best practices for managing location portfolios and workforce strategies.
Whether you hold the reins as a sourcing leader, a delivery head, or a workforce strategy executive, this engaging webinar will provide you with valuable insights and actionable advice to optimize your locations portfolio and maximize returns.
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