Mass tech layoffs signaled an end to the pandemic-era funding bonanzas. However, many companies across all stages are still selectively hiring. According 2022 Kleiner Perkins People Report, the market still remains competitive for companies with less than 500 employees. Moreover, the tech ecosystem of Europe remains in good health, and Berlin remains one of the hotbeds for European innovation.
However, the German economy’s skills shortage is growing by the day. 73% of company decision-takers report skills bottlenecks in their companies, but just 17% of businesses are looking into foreign talent. Fewer than a fifth of them believe that sufficient staff are available in Germany, according to the Bertelsmann Stiftung’s new Skills Migration Monitor.
According to Datapeople’s 2022 tech hiring report, the available labor pool in the tech industry has reduced for 25%. We already see the most demanded programming languages topping the job lists, and AI talent shortage is already a real problem.
This info goes to show that talent is the most fundamental ingredient of any successful tech ecosystem. Tapping into international tech talent will greatly benefit the German tech ecosystem.