How business leaders can address tech recruitment challenges in 2024

Business leaders are urged to refine their recruitment strategies to ensure they attract a workforce capable of meeting future challenges.

Shifting consumer preferences, disruptive technology, and a challenging economic environment are set to reshape recruitment strategies in the tech sector this year, according to Hays’ The Inside Story of Technology report.

The report said professionals in Hong Kong SAR are currently contending with a job-short market amid a slowdown in tech expansion. As a result, many are opting for stability, with subdued expectations for career advancement and salary increases.

“Many tech companies have found themselves needing to scale back, in line with tightening budgets brought about by growing concerns regarding the economic climate,” said Sue Wei, managing director at Hays Greater China. 

“Even so, we are seeing a greater demand not just for data engineers and scientists, but machine learning and AI engineers too,” she added.

With companies striving for growth in a competitive tech environment, Wei said leaders must refine their recruitment strategies to ensure they attract a workforce capable of meeting future challenges.

The report noted the importance of long-term planning for business leaders to benchmark business needs and streamline roles for efficiency. It also advocated engaging passive talent through specialised recruitment and prioritising internal training to adapt to changing demands. 

Additionally, strengthening employee branding was advised to attract top talent during economic downturns.

For professionals, Hays suggested updating skillsets with certifications in emerging technologies and considering lateral career moves into expanding sectors.

“As companies continue to vie for growth amidst the competitive tech landscape, leaders will need to finetune their recruitment strategies to secure a workforce ready to face the challenges ahead,” said Wei.