The tech sector has some of the world's most knowledgeable and talented individuals. But, the vast majority are not actively looking for new job roles, which is a potential problem for enterprises that need to bring new people on board to support growth and expansion plans.
Stack Overflow's recent report on the developer hiring landscape highlights the extent of the problem. Just 11% of UK developers are active in their job searches, more than half are not looking and all but 6% are employed on a contract or part time basis.
Digital transformation is a focus for organisations around the world, so there is a pressing need to source high-level talent in sales, data processing, programming and other disciplines. However, when the talent pool is unengaged, how do you proceed?
Know your target market
Tech recruiters need to put more work in to create profiles for target candidates. It is no secret that human resources have often struggled to interact with tech pros as it can be difficult to relate to high-level skillsets and the work they actually do.
However, when armed with knowledge of what they want from a job role, it can be easier to engage. Stack Overflow's report suggests salary is a primary concern for IT pros, followed by the types of tech they will be working with and opportunities for advancement.
Make switching attractive
Software companies need to offer up an attractive proposition to candidates as they may need encouragement to move elsewhere. Putting cutting edge tools and tech front and centre is important, as is highlighting anything that makes a company unique.
Offering unique internet experiences can make a very positive impression with tech-savvy candidates. Virtual reality and augmented reality are getting close to mass adoption so consider implementing them during the process. Before the interview itself, make sure the correct communication channels are used to contact candidates. For example, some may be more receptive to interaction via social media or connected platforms, rather than email.
Cloud based sales software enterprise Pipedrive has raised $50m from Series C investors to develop its class leading CRM services in a market that is now worth more than $40bn according to recent data published by Gartner.
Sales teams around the world now rely on Pipedrive's CRM software and the latest round of venture capital funding, which takes the total investment tally to $80m, will allow it to expand its research and development activities, invest in new functionalities, enter new markets and improve the efficiency of its services.
"Sales teams are more important to companies than ever in a hyper-competitive environment, highlighting the need for Pipedrive's innovative and streamlined CRM software," Insight Venture Partners Principal, Teddie Wardi said. "We are thrilled to welcome the Pipedrive team into our portfolio, and help lead their growth and expansion in this next phase of their global journey."
Pipedrive's software is popular with sales departments as it provides them with complete control over the sales pipeline, makes it easier to complete meaningful activities and push buyers along the cycle to close deals. Users claim it has driven conversion rates and sales significantly, and supported greater collaboration and data accuracy.
Pipedriver serves more than 75,000 customers in 170 countries from its headquarters in New York and Tallinn. The company's strong accounting rate of return (ARR), global reach and loyal customer base, in addition to its eight-year run of triple digit growth, made it an attractive proposition for venture capitalists, which include previous investors Bessemer Venture Partners and Atomico.
SaaS CRM is currently thriving and is now the largest application software market according to Gartner. Sales teams can look forward to leveraging new tech such as advanced analytics, AI and machine learning in this area during the next three years.
Software company Silexica has raised $18m (£13.5m) from venture capitalists to develop a new suite of tools to support autonomous vehicles.
Self-driving cars are set to be one of the major disruptive tech advances during the next decade and Silexica is now fast tracking the development of software in the market to deliver a high-performance platform for sophisticated use cases, such as artificial intelligence and robotic process automation. This has been driven by the need for rapid data processing and to support trillions of actions in real time.
Silexica was only founded back in 2014 but has now raised $28m from investors in total. The company set out with a mission to deliver in a step change in the functionality of software testing tools as it believed traditional solutions were no longer able to keep pace with the complex nature of high level programmes.
"We created SLX to support software professionals facing the biggest challenge in the industry — programming heterogeneous supercomputers," Silexica CEO Maximilian Odendahl said in an official statement. "SLX is truly adding value to customers in delivering performance improvements and system insights on some of the most advanced computers being created."
The latest round of venture capital investment from third parties including EQT Ventures Fund will allow to Silexica to enhance its SLX offering, in addition to creating a new platform that will be able to support the complex simulations that industrial users need to run to gain a complete understanding of software before it is officially deployed.
Odendahl added: "This funding round will enable us to strengthen existing and upcoming SLX tools and solutions. In addition, it will see us develop an industry first, vendor-neutral, multi-application Simulation Platform to help OEMs and all members of the supply chain optimize and integrate software provided for complex systems such as autonomous vehicles."
Technology has rewritten the traditional recruitment rulebook and now plays a fundamental role in the process of sourcing new candidates. In 2018 and beyond, artificial intelligence, virtual reality and automation will be among the trends that will come to the fore and be a disruptive influence.
AI candidate screening
Data is now a primary asset for recruiters and automated, machine learning algorithms will make it easier to unearth the right candidates. AI candidate screening can be used to screen CVs in quick time and then deliver responses to candidates.
Organisations plan to go a step further in the near future with a focus on ontology. This will convert semi-structured data and job descriptions more consistently, which will improve the processing format and accelerate shortlisting considerably.
AR and VR make an impact
Augmented reality is becoming more mainstream and organisations are looking to leverage the tech to create more relevant and interactive experiences with prospective candidates. For example, AR can be used to deliver a simulated walkthrough of a workplace or a mock client meeting. This will improve decision making during the recruitment process. Virtual reality is also an excellent resource for providing tours and to give hiring managers unique access to a candidate's previous work.
High level talent required
Seven out of ten leaders believe the speed of tech change is a major challenge, according to PwC's Annual Global CEO survey. Moreover, the study found that organisations will be placing a greater focus on securing highly skilled staff with experience in AI, big data and online platforms to ensure their business can maximise the potential of the digital revolution. Leaders are also eager to deploy more tech products and services to meet growing demands for faster, innovative and more secure services from end users.
Automation also makes it mark
Automation will lead to a surge in highly skilled temporary roles for IT and sales talent with niche skill sets. Non-repetitive tasks will become the domain of the robot during the next decade, but automation will also create new jobs.