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Celebrity Bewarse
Username: Blazewada
Post Number: 26210
Registered: 08-2008
Posted From: 119.56.115.73
| | Posted on Monday, March 14, 2016 - 12:11 am: |
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2016 Q1 Technology Recruitment Market Update & Opportunities
This year has already seen a number of redundancies in Technology across Financial Services and the wider industry. Analysts predict at least 333,000 layoffs in the next 12 months from global technology firms.  This is partly due to the development and the increased adoption of technologies such as cloud computing.
Additionally high regulatory costs and a move towards a more automated banking model globally are having a major impact on the workforce. Banks are constantly under pressure to reduce fixed costs and are closely monitoring headcount. Recent restructuring in the APAC region include HSBC, Deutsche Bank, JPMorgan, and Barclays.
However, it is definitely not all doom and gloom across APAC Technology. Fintech initiatives will continue to dominate the market for Q1 and throughout 2016. Industry analysts saw a rise in FinTech investments in APAC from $880million in 2014 to nearly $3.5 billion in 2015. The latest announcement is OCBC bank setting up a new Fintech innovate unit called The Open Vault.
The hype around big data and analytics have seen its ups and downs in the last few years. A recent survey shows that the number of Data Scientists have doubled over the last 4 years and with more innovative start-ups in the field of analytics, we will start to see a decrease in costs and more affordable solutions. The expansion of Hadoop is driven by market demand. Businesses have access to more and more raw, structured and unstructured data, Hadoop helps in providing affordable analytics for this data.
Key technology hiring requirements for this year will be in the areas of Big Data, Security and Digital transformation. Hadoop has been on the rise over the last few years, however this year’s demand is likely to be on Spark. Spark provides a dramatically increased data processing speed compared to Hadoop, it has now become the largest big data open-source with more and more compelling enterprise use cases emerging. Local talent in this space will be in very high demand, which in turn will create more opportunities for regional and global talents in this field to move internationally.
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Archives - 2016