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The report found that large companies with job postings relating to key tech trends dropped by 26% compared to a 17% decrease in global job postings.
“Cost-cutting measures and slowing revenue growth likely drove this sharp decline,” explains Jessica Tandy, executive director at Bizmod.
Tandy says that going into 2025, it is crucial that companies budget for attracting and retaining the right talent, especially considering the recent economic trends that have affected recruitment.
On the flip side, areas with strong investment and innovation, such as generative AI saw increased demand for advanced skills. Despite short-term declines, the long-term outlook remains positive with tech-related job postings up 8% from 2021 to 2023, signaling potential for future growth.
The report revealed that the five most challenging talent to acquire in South Africa are:
The top talent in demand according to the Bizmod 2024 Annual Talent Report are:
Tandy says, “AI literacy is not only crucial for technical roles but also for strategic decision making, enhancing customer experience and improving operational efficiency across industries.”
A report by McKinsey indicates that by 2025, 70% of enterprises will have a cloud-first strategy. Tandy says this is driving the need for cloud security engineers, ethical hackers, and security architects, to ensure that cloud systems are protected against breaches and misconfigurations.
Tandy says that by enabling faster, more efficient application deployment and improving operational efficiencies, DevOps and cloud platforms are seen as key enablers of businesses’ ability to innovate and stay competitive in an increasingly digital world.
Glassdoor South Africa says that data science roles are among the highest-paying jobs in the country, with positions such as data scientists, data engineers, and machine learning experts often earning salaries well above the national average.
Tandy concludes, “With the rising demand for tech, data, and analysis talent amidst economic uncertainty, companies must invest in the right talent at the right level, ensuring that they secure the expertise necessary to meet project demands and achieve high standards.”
See the full Bizmod 2024 Annual Talent Report here.