City + 2024 Australian tech sector...downturn or boom? + Hunter Jacobs

2024 Australian tech sector…downturn or boom?

It’s unlikely that the 2024 Australian tech employment sector will stagnate. Based on early activity within this arena, the stars align for strong pockets of rapid growth, innovation, and job opportunities.

For employees, to retain and find strong employment opportunities, 2024 is a year of going the extra mile. Differentiating yourself is going to be the key. Those who cruise will be replaced.

For employers, a dedication to employee experience is a must to attract and retain the best of the best. Employee experience starts before the first interview. Don’t expect to be an average employer and attract top talent. Diversity is key to future proofing your organisation.

What are the factors pointing towards growth:

    • Government investment: Public spending in areas like renewable energy, cybersecurity, and digital infrastructure.
    • Cloud adoption: It is only increasing, with many industries still late to the party.
    • AI and other emerging technologies: The increasing use of AI in various industries will generate new capabilities. This increases the diversity of growth possibilities.
    • Remote work revolution: The acceptance of remote work options is broadening the talent pool.
    • Skills gap: Although companies are investing in training and development programs to address the tech skills gap, there is a talent shortage in certain areas.
    • Candidates who have strong greenfield business development skills are in high demand, as companies step into 2024 growth plans.

What are the challenges that could pose as obstacles:

    • Visa bottlenecks: Tightened visa regulations might limit the inflow of foreign tech talent, potentially hindering growth in some areas.
    • Cybersecurity threats: As reliance on technology increases, so does the risk of cyberattacks, demanding a robust and dedicated workforce to address these threats.
    • Diversity gap: The tech industry needs to actively address its gender and cultural diversity shortcomings to ensure a truly inclusive talent pool.
    • Demand surge: Expect intense competition for skilled growth tech talent, with salaries potentially rising as companies fight for the best.

Summary: Opportunities in renewable energy, cloud, and AI, but buckle up for talent wars and visa woes. Upskill, embrace remote, and stand out, or get left behind. Diversity in focus. #futureofwork

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