STATE OF TECH EMPLOYMENT Looking Forward to 2024 Tech Talent Demand in 2024 Taking into account the events of 2023, the fact still remains that the demand for high-quality tech talent has never been higher. On the business side, as 2023 progressed, concerns about hyperin- 昀氀ation were proven unfounded in the United States and interest rate heights began to slow. Many companies in the S&P 500 beat Wall Street expectations, growing revenue and expanding pro昀椀ts. Business Areas with Greatest Skill Gap Source: Mind the [Skills] Gap by McKinsey & Company Data Analytics 43% IT, mobile, and/or web design management 26% Executive management 25% HR and talent management 23% Sales and marketing operations 22% Product and/or service design 22% R&D 18% Frontline management of operational staff 16% Customer service 15% Financial and risk management 14% Channel management (including e-commerce) 14% Product and manufacturing operations 13% Sourcing, procurement, and/or supply-chain management 9% Top Challenges in Recruiting Tech Employees Source: MIT Technology Review Insights, HCL Tech Candidates lack necessary skills or experience 64% Overall shortage of candidates 56% Difficulty meeting candidates’ salary expectations 54% Candidates lack necessary credentials 31% Difficulty meeting candidates’ nonsalary expectations 30% Candidates are not a good fit for our organization 29% 07