Why 2024 Is the Year of Skills-Based Hiring for Tech Workers

Competition for tech jobs has waxed and waned considerably over the last few years. The pandemic-fuelled “great resignation” that saw 47.8 million Americans quit their jobs in 2021 ramped up with another 50.5 million quitting in 2022, according to Job Openings and Labor Turnover Survey data.

That was a result of several factors, but the biggest one was the sheer glut of jobs in the labor market, meaning workers could leave their jobs with impunity, and easily find another one with better pay and benefits.

Subsequent mass layoffs across the tech ecosystem from mid-2022 meant that many more people were looking for jobs, even as companies slashed their hiring budgets. The labor market slackened as a result with competition for tech roles becoming stronger, which made it harder for many workers to get hired.

Despite the headwinds, it is still a job seeker’s market––you just need to have the right kind of skills. Tech companies are urgently seeking software engineers, and those with data analysis and cybersecurity skills, for example.

The need goes further, because as the pace of digitization increases, many of what would traditionally be considered ‘non-tech’ industries, such as retail and banking, are aiming to hire many more workers with technical skills too.

Skills shortage

This skills shortage is a real and growing issue. One response has come from jobs site Indeed, which has launched a new Tech Network to help companies to reach passive talent across 50 tech websites. It’s designed to help tech firms cut through the skills shortage and hire the best people.

That’s good news for those with in-demand skill sets, and what is better news for many is that increasingly, tech companies are moving away from traditional hiring criteria of having specific educational requirements, or a set number of years in a previous job.

Before, where a company hiring for a programming job may have insisted on a minimum of a Bachelor’s degree and three years’ experience, now many are adopting a skills-based approach.

In reality, this means that what you can do, and not just what you have studied, is what matters. A new report from TestGorilla shows that in the real world, companies are taking this seriously, with 73% reporting that they used skills-based hiring in 2023.

This approach can make recruitment fairer; 84% of the report’s respondents saw a positive impact on workplace diversity, for example. Employees like it too, with 86% saying they’re more likely to land a dream job when given the chance to prove they have the right skills for the role.

Additionally, 55% of those hired for their skills for IT and data jobs report that they are very happy in their role, which compares to just 17% of candidates hired without a skills-based approach.

Showcase your skills

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