Tech Industry Trends of 2023

Jun 30, 2023 | Tech Business Trends, Tech Research & Case Studies, Tech Trends

Six months into 2023, 92% of technology managers in the tech industry continue to face “challenges finding skilled talent,” per Report Half’s report on Technology and IT Hiring Trends. Over half of those technology managers, who range from small, local businesses to 500+ employee companies, are hiring for new and vacated roles.

Continued Growth of the Tech Industry

As we progress deeper into a digital economy and technology advances more rapidly than ever, the need continues to grow in the tech industry to find those who have the skills to use, manage, and design these advancements. For those seeking a career advancement or change, the demand increases for contract workers in technology roles, such as software & applications developers. And from the April 2023 U.S Bureau of Labor Statistics Current Population report, it is reflected that such roles sit “near or below the national unemployment rate at the end of the first-quarter 2023” (Current Unemployment Rates).

Even though the tech industry in the U.S. had laid off many employees amid economic uncertainty in 2022, hiring for IT jobs remains strong and tech employment increased by 3.2%, as noted by Insight Global.

It is no surprise that the trends of tech industry career opportunities increase as the trends for skills-based hiring also increases. As noted in one of our recent blog posts, skills-based hiring paradigm doesn’t seem to be slowing down anytime soon and “nearly a quarter (23 percent) of hiring leaders reported trying to move toward a formal skills-based hiring initiative that prioritizes skills and deemphasizes educational degrees,” according to a 2019 survey on the Use and Value of Educational Credentials in Hiring. From these current trends, development of in-demand tech skills is crucial for those seeking advancement or change in their professional situations.

Necessary Hard Skills for the Tech Industry

One of the most common reasons technology hiring managers are struggling to hire talent includes “candidates lacking necessary hard skills,” as noted in the (cited above) Insight Global article. Hard skills can be simply defined as job-related knowledge and abilities; hard skills in the tech industry can range from computer and analytical skills to marketing and development skills. 

Those with skills, “such as cybersecurity and executive leadership could see 2023 wages jump 8%,” according to a recent LinkedIn article on the 2023 Tech Hiring Trends. Since skills- based hiring is on the rise for many industries but especially in the tech industry due to rapid advancements, those who have developed the specific hard skills that are in high demand have an increased chance of advancing current tech careers or landing a new one.

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Using Tech Industry Trends to Your Advantage

Depending on the career change or advancement one is seeking, hard tech skills can be efficiently and effectively developed through a range of educational means, including certificate programs. Certificate programs are an accelerated and cheaper educational option for those seeking to switch up their current professional situation. They are also a fantastic alternative to the traditionally longer and more expensive route that are college degrees. (Explore the differences between the two here: 

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DWC offers a wide range of certificate programs that on average, only take our students about 4-6 months to complete (2019-2021 Enrollment Report). With the latest tech trends, our certificate programs can help you develop the in-demand skills that so many technology managers are struggling to find. By completing a certificate program, you can add specific hard skills to your resume to stand out among the rest. Learn more about what DWC offers and how we empower you with skills, not degrees to thrive in the current digital economy by attending an info session with a student advisor.