In a significant shift within the tech industry, new research from International Workplace Group (IWG) indicates that hybrid working has become the leading strategy for attracting top tech talent, surpassing competitive pay. The study reveals that 78% of business leaders believe organisations offering hybrid work have a distinct advantage in recruitment, with 37% of firms prioritising this approach over competitive salaries, which stand at 35%.
The research highlights a fiercely competitive market for tech talent, with 67% of leaders acknowledging the increased difficulty in attracting skilled candidates. Furthermore, 68% of leaders recognise that competitive salaries alone are insufficient for retaining top talent, emphasising the importance of flexibility.
Advanced technology skills, such as AI, data analytics, and coding, are increasingly valued, with 83% of leaders considering them crucial for leadership promotions. Notably, 22% of leaders place higher importance on these skills than on traditional university degrees. This trend is reshaping hiring practices, with 23% of organisations promoting tech professionals under 30 into leadership roles earlier than usual, a figure that rises to 45% among Gen Z-led businesses.
In Singapore, efforts to build an AI-fluent workforce are intensifying, supported by initiatives like the National AI Impact Programme and the TechSkills Accelerator Programme. These efforts aim to address the persistent shortage of AI-related skills, which remain among the hardest to find.
Mark Dixon, IWG Founder and CEO, stated, “The message from leaders—and particularly from younger generations—is clear: companies that do not embed hybrid working into their culture risk losing out in the race for tech talent.”
