Despite the challenges faced in the job market, including tech layouts and geopolitical stress, the digital sector is showing resilience with many companies achieving strong revenue and profits, Prosperity Recruitment reports. 2023 will be a transition year as companies will have more leverage in a market dominated by candidates for the last few years.
Prosperity Recruitment director Gary Mullan says tech layoffs will continue to supply the market with skilled talent happy to join companies outside Big Tech. It will present an opportunity for SMEs to recruit on favourable conditions. The ongoing remote versus office debate will settle, with companies and employees more aligned on hybrid solutions.
Employees will continue to prefer joining companies with fully remote policies and will leave companies that require them to go back to the office full-time. The results have been confirmed in Prosperity’s interviews with more than 900+ digital employees. “SMEs can have the best year since 2019 with once-in-a-lifetime talent in the market,” Mullan added.
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Key findings from the Prosperity salaries report:
- Salaries will see modest increases under the three per cent on average across categories this year. Web development roles are the only ones that will be increasing more than six per cent in 2023.
- Web development roles are expected to experience the highest increases in salaries, while agency positions will see only modest increases.
- The average pay in the digital sector in Ireland across roles and seniorities is €60,000.
- The highest paid roles are CTO (up to €180,000), director of marketing (up to €150,000), followed by head of ecommerce, head of search/SEO, and creative directors (all up to €120,000).
- Demand for mid-level and senior profiles will remain high but tech layoffs, crypto and Metaverse partial bubbles bursts will limit candidates’ access to above-market salaries.
- Tech layoffs will offer an opportunity for SMEs to acquire highly skilled talent at competitive market rates.
- Salaries is the number one motivation for candidates to switch jobs in 2023, with career progression and fully remote conditions a close second and third.
- Employers forcing a return to the office will risk loss of talent, as 81 per cent employees no longer accept less than hybrid working arrangements.
- Governments in Europe, including the Irish, will hear out propositions to pass laws to regulate remote work and remote workers’ rights.
- 2023 will see companies opting for four-day week arrangements and/or fully remote policies to attract talent in the digital sector.
- The market will remain resilient despite geopolitical and economic headwinds.
