Hiring Trends Report: Tech and IT Sector

August 16, 2022

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Technology companies are on a hiring spree, with Facebook planning to hire ten thousand resources in Europe to build the metaverse. Google has hired 10,000 people from April to June 2022, while Amazon has similar plans to hire technology talent in large numbers. The companies can accelerate the transformation process by 20 to 30 per cent by hiring top engineering talent who can be three to ten times more productive than the average engineer. As a result, technology talent acquisition has become like an arms race, with hiring top talent-like engineers incrementally more expensive as demand outstrips supply.

With most organisations accelerating digital transformation, the demand for technology talent will intensify as requirements will not be limited to technology companies, and companies from traditional businesses will compete for the same limited resources to maintain a competitive edge. For example, in June 2022, the financial services company Capital One had more technology job postings than technology companies.

In this report, we discuss:

- Hiring trends in Tech and IT sector

- What makes the Tech / IT sector unique as an industry in terms of innovation dynamics, agility, global reach, and competitiveness?

- How to find highly specialised and skilled talent in centres of excellence around the world?

- How tech & IT companies are gearing up for more competitive growth?

- Which new technologies can be adopted and used for faster, more accurate, and increased productivity and performance?

- What are the hiring technologies used across the sector?

- What are the essential background checks for Tech and IT Industry?

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FAQs

What background check do I need?

This depends on the industry and type of role you are recruiting for. To determine whether you need reference checks, identity checks, bankruptcy checks, civil background checks, credit checks for employment or any of the other background checks we offer, chat to our team of dedicated account managers.

Why should employers check the background of potential employees?

Many industries have compliance-related employment check requirements. And even if your industry doesn’t, remember that your staff have access to assets and data that must be protected. When you employ a new staff member you need to be certain that they have the best interests of your business at heart. Carrying out comprehensive background checking helps mitigate risk and ensures a safer hiring decision.

How long do background checks take?

Again, this depends on the type of checks you need. Simple identity checks can be carried out in as little as a few hours but a worldwide criminal background check for instance might take several weeks. A simple pre-employment check package takes around a week. Our account managers are specialists and can provide detailed information into which checks you need and how long they will take.

Can you do a background check online?

All Veremark checks are carried out online and digitally. This eliminates the need to collect, store and manage paper documents and information making the process faster, more efficient and ensures complete safety of candidate data and documents.

What are the benefits of a background check?

In a competitive marketplace, making the right hiring decisions is key to the success of your company. Employment background checks enables you to understand more about your candidates before making crucial decisions which can have either beneficial or catastrophic effects on your business.

What does a background check show?

Background checks not only provide useful insights into a candidate’s work history, skills and education, but they can also offer richer detail into someone’s personality and character traits. This gives you a huge advantage when considering who to hire. Background checking also ensures that candidates are legally allowed to carry out certain roles, failed criminal and credit checks could prevent them from working with vulnerable people or in a financial function.