While mass layoffs haven’t dominated the headlines in Q1 of 2024 the way they did in 2022 and 2023, the tech industry remains in a precarious position and isn’t out of the woods just yet.
That’s according to a
recent study commissioned by Gong, a revenue intelligence platform, which established that 80% of tech companies
in the UK and US have failed to meet their sales targets and revenue projections over the last two years.
Not only has this impacted business confidence and the ability of these businesses to survive, it can also lead to hiring and salary freezes; 40% of the business leaders surveyed said they were planning on pausing pay increases and bonuses.
While saving money on staff can seem like the easiest and quickest way to remedy a balance sheet back to black, this move can ultimately lead to an increased burden being placed on employees.
In separate
research conducted by Pluralsight, 47% of tech workers have been obligated to take on additional work and responsibilities outside of their job description due to a reduced
workforce.
Additionally, this can also result in unplugged skills gaps. While a more
recent look into AI skills by Pluralsight uncovered that 20% of organisations have formally deployed AI tools to fuel upskilling strategies and 55% are planning on doing it sometime soon in the future, 25% of organisations have no plans to implement AI
to optimise productivity or digital transformation.
This information might make moving jobs seem counterintuitive, but the reality is that UK tech firms are still hiring at pace within specific areas. These include regtech, which has enabled fintech companies to compete with traditional financial institutions,
and cybersecurity, which is essential for both fintech companies and their users in the prevention of fraud and misappropriated funds.
The even better news is that the fintech sector is expected to be reinvigorated thanks to the digital assets market which is projected to show a
revenue growth of 20.81% in 2025 and 66.87 million users by 2028.
According to a
recent report by Statista: “The fintech market is rapidly evolving, with digital payments, digital investment, digital capital raising, digital assets, and neobanking
emerging as some of the most significant trends.”
The report adds, “Digital payments have seen an unprecedented surge in popularity, with consumers increasingly relying on mobile payment solutions for their day-to-day transactions. Digital investment platforms are also gaining traction, with individuals
seeking low-cost and easy-to-use investment options. Additionally, digital capital raising has become an attractive option for startups and SMEs, as it provides an efficient way to access funding.”
Ready to find your next opportunity in fintech? The
Finextra Job Board is the best place to focus your search as it features thousands of roles in companies actively hiring, such as the three below.
DataAnnotation
The ability to leverage AI within the workplace is an increasingly important skill which is why
DataAnnotation is hiring AI trainers via content writers and software developers in the UK.
A fully remote company, DataAnnotation also facilitates flexible and part time work so that its employees choose the projects or tasks they want to complete around their own schedule rather than following a prescriptive 9 to 5 workday.
Interested? Learn more about a
career with DataAnnotation here.
PayPal
While restructuring to accelerate growth is afoot (in September CEO Alex Chriss announced a global headcount reduction of 9% to “right-size” the company)
PayPal is actively hiring for various roles across its offices in London in areas including risk management, regulatory
reporting, credit complaint and data analysis.
You can find out more information about
working at PayPal here.
BlackRock
Asset management firm
BlackRock is hiring for a variety of roles across the UK including London and Edinburgh.
These include data analysts who can design quality checks and performance metrics to assess data health and detect deficiencies and improvement and private equity partners who can work within the field of alternative investments.
You can find out more information about
BlackRock openings here.
Accelerate your career in tech today via the Finextra Job Board.