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Tech firms faced with wage pressures and talent shortages


Employers in the tech sector are facing challenges when it comes to wage pressures and the availability of talent.

According to the 2024 Stelfox Salary Guide Survey, 70% of tech employers in Ireland say wage pressure is a major hurdle they will need to navigate in 2024, while an even greater number, 83%, are grappling with the availability of talent as demand for skilled professionals escalates.

Artificial Intelligence (AI), cybersecurity and software engineering are among the most in demand skills categories.

The research shows that 41% of employers in the IT sector are planning to expand the size of their teams this year.

It also found that there was a 24% decrease in the number of exclusively remote working-based roles in 2023.

“As the tech skill demands outstrip supply, many companies are embracing a new culture of learning,” said Clare McDonald, Commercial Director at Stelfox.

“Emerging technologies are changing so quickly that by the time a tech organisation has built out the team they need, the skills in demand can already be shifting.”

“Due to the accelerated pace of technology, at times there is virtually no talent pool at all,” Ms McDonald said.

“Many of our tech clients are thinking differently about where and how to attain the skills needed, rather than thinking only about headcount,” she added.


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