Tech job market: the “Great Layoff” will give way to the “Great Renegotiation”

Over the past decade, savvy technology professionals have been in high demand, making it difficult to retain them.

In response, Ironhack’s technology training specialists predict greater investment by companies in their teams, “with the aim of technologically empowering them, building loyalty and retaining them”. When it comes to reskilling, according to Jan Molendijk, Senior Lecturer at Ironhack’s Data Analytics bootcamp, “In this competitive job market, with ‘silent’ layoffs – and others not so much -, employers have no choice but to utilize the potential they already have in their existing workforce. It is easier and cheaper to retrain tech professionals for newer technologies than to hire new people.

The great advantage is that the work team already knows the company, already speaks its ‘language’. And this is also an advantage for the employees themselves, who not only keep their jobs, but also acquire valuable new skills, knowledge and experience.” Even so, and despite several recent announcements declaring redundancies in technology companies, the hiring of talent is not expected to stop, underline those responsible for the Ironhack technology school.

According to Ironhack, “companies will continue to look for technological profiles, making room for the ‘Great Renegotiation’, replacing the ‘Great Dismissal’, in which technological talent, especially the youngest, will be concerned with negotiating conditions of excellence with smaller companies”.

Digital skills will remain in high demand

According to the most recent study by ManpowerGroup, the technology sector is one of the most optimistic regarding the hiring of professionals during this quarter, which reveals that digital skills continue to be very important.

In fact, Carolina Rodrigues, Careers Manager at Ironhack Portugal, says that “our partner companies continue to come to us to recruit talent with technological skills to fill their vacancies, and there are no plans for this trend to slow down.

This year, more than ever, having technological skills, such as HTML and CSS, is no longer just a ‘plus’, but something practically mandatory. Thus, younger but highly qualified talent has the perfect opportunity here to develop new skills and enter a competitive sector”.

Frederico Raposo, Lead Teacher of the Data Analysis bootcamp at Ironhack Portugal, adds that, “with the job market changing, we see that the more generalist technological profiles are managing to become great data specialists. Students of intensive technology bootcamps have the ability to perform more comprehensive tasks that more specialized profiles cannot, which is quite beneficial”.

Catarina Costa, responsible for the Lisbon campus, adds that “intensive technology bootcamps prepare students for a wide range of skills within the chosen area, addressing the various aspects of a given area. In the case of Web Development, for example, both the back-end and the front-end are explored.

In the case of UX/UI Design, concepts for user experience, user interface and front-end programming are explored. This paves the way for professionals to have more comprehensive capabilities, with the possibility of specializing over time in what they like most.”

The demand for bootcamps will increase exponentially, not only among those who want to change careers, but also for those who do not want to pursue higher education. Ironhack emphasizes that the short intensive courses at technology schools have been, over the last few years, a viable solution for anyone looking for a career and life change, very quickly, without neglecting the demands of the current job market.

Catarina Costa recalls that: “At Ironhack, we receive many students who entered Higher Education, but who felt that this was not exactly their path. Whether because they realized that that was not their favorite area, because they preferred to have a career with guaranteed progression and growth, or because they don’t want to take the traditional educational path, we welcome students with different ambitions.

What we are observing is that Generation Z, especially, is looking for a fast and challenging professional evolution, which does not require several years of study.

During this year, we expect to see more young people giving up Higher Education and investing in technology-intensive bootcamps”.