IT and technology recruitment in Finland – Is it worth investing in talent now?

Finland’s economic situation is currently very challenging. Our country is in its second year of economic recession. GDP is expected to decline again this year. Due to financing challenges, most companies’ investment in technology, software and R&D is frozen. As a result, organizations are downsizing and laying off their staff through change negotiations. Recruitment is at a standstill.

While many organizations are reducing the number of knobs, the natural turnover of staff requires constant replacement recruitment. And the glimmer of light is that the so-called.  Funding for new investments related to the green transition has dramatically increased the demand for certain technology talents. If these investments get off to a good start, the demand for talent can be expected to explode.  

Recruiting IT talent now as a piece of cake?

In this context, the situation of IT and technology experts stands out as particularly interesting. Recent layoffs and redundancies have meant that there is now an exceptional amount of skills available on the labour market. Many experienced IT professionals, who are unsure about the future of their own workplace, are actively looking for new job opportunities. This makes this a time conducive to recruitment. If a company needs to recruit, now would be the place for a thousand bucks!

In addition, when the number of job seekers is high, companies have the opportunity to choose from a wide range of applicants. Open positions for basic coders and generic skills easily receive up to hundreds of applications.

On the other hand, there is still a shortage of specialists, such as those requiring in-depth knowledge of the technologies needed for the green transition. The demand for professionals needed to process big data, for example, is also much higher than the supply. These top talents are usually not actively looking for jobs, but headhunting attracts them to a new job directly from their current positions.

Opportunity to calculate wage costs

Wage demands have fallen as a result of changes in the general economic situation and the labour market, which makes the situation conducive to negotiating more favourable wages. Companies can take advantage of this situation by recruiting talent at a more moderate cost, which is especially important in times of economic uncertainty.

Remote work, especially in software development, has increased exponentially. When the physical location of the work does not matter, companies also have an excellent opportunity to take advantage of the international labour market. A remote coder working abroad, in a lower-cost country, is a very cost-effective solution.

Are you already preparing for the upcoming boom?

Even though Finland’s economic situation is difficult, recruiting IT and technology experts can offer significant benefits. Hiring specialists and preparing for the future with new skills can be crucial for companies’ ability to survive the current crisis and strengthen in the future. Therefore, companies that are able to invest in their people now should consider recruitment opportunities – especially in the IT and technology sector.