The market for tech talent is still hot, but industry leaders say conditions will ease thanks to valuation pressures forcing founders to adjust growth plans.
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Shippit co-founder William On also tipped that in the next six months there would be a correction in salaries, and salary expectations.“This is primarily because there will be more people available as companies decide to do hiring freezes and let people go,” he told the Morgan Stanley Australia Summit this week.
CBA has set itself the goal of appointing 1000 new engineers this year, after adding 820 new engineers in 2021, and is hiring over 100 engineers every month. NAB has around 300 vacancies for software engineers and has hired 400 people in the past 10 weeks across its tech and digital team.
“It doesn’t mean it will be a bad market for employees, but the level of intensity of attracting and retaining staff has been remarkable.”Mr Bassat said while every business believed it was operating efficiently, in a crisis they could always find areas to make cuts. The chief executive of $1.25 billion human resources, payroll and employee benefits software company Employment Hero, Ben Thompson, said the tight talent market conditions could ease as people shifted to salary-only roles, rather than sacrificing a portion of their raise for shares or options in a start-up.
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