We’ve been in the IT world for 6 years, so it’s no surprise that we function based on an analytical approach. Our intentions and vision are based on data: these tell us about market trends and whether we are moving in the right direction. We’re happy to share what numbers say about the Titan year 2023. How did we survive the stormy market and what can you be sure of with us?
Averything but still waters
Shocks on world markets, changes in energy prices, the war in Ukraine, an increase in interest rates and inflation… the turn of 2022 brought about mass layoffs in many fields. Thousands of experienced IT specialists flooded the market, and many companies decided to take the hiring process into their own hands internally. In the first half of 2023, TITANS also felt a cooling demand and turbulence on the market, which weakened certain weak players and completely swept away others. We were proactive in finding other ways, developing processes and taking advantage of new opportunities. Our Titan ability to adapt to change helped us through it just like it did during the Covid pandemic. Things began to change before the summer vacation. We managed to get through the difficult months and we started to see the situation change for the better.
Choosing from available IT specialists has become more and more difficult for the HR department of many companies. Finding the best in a sea of applicants was taking longer and becoming more expensive when conducted internally. Processes were becoming more complicated and projects were being delayed. Although the economy in the Czech Republic and Europe recovered very slowly, the demand for outsourcing was slowly growing, with an increase in clients and successfully placed bodyshoppers. The numbers started to show that our business is bouncing back. In the end, our turnover was 13.8% higher than in the previous year: CZK 312.8 mil. We also felt the strength of the holding that we became a part of in the previous year – together with Slovak TITANS freelancers we achieved a turnover of CZK 851 mil.
Growing trend of turnover proves the increase of IT jobs across the market thanks to growing digitalisation.
The market wants more analysts
There was an interesting development in the distribution of specialisations that companies requested from us. While front-end and back-end programmers were at the top of the list in previous years, 2023 saw an increase in demand for IT & business analyst positions. This was a reflection of the trend of reviving ICT projects that had been suspended, which logically begin with analysis. Jobs related to business analysis accounted for 15% of concluded contracts, which is the strongest portion among dozens of in-demand specialisations.
IT & Business analysts jobs belonged among the most required positions during 2023.
It’s March 2024 and we are continuing on in true Titan fashion. We’re proud of the fact that we can continue to provide top experts for companies this year and help the Czech economy in technological development and introducing innovations in the demanding conditions of the IT recruitment market. Thank you for going on this adventure with us, whether you’re a freelancer, client or fan. We look forward to writing about the IT recruitment market in 12 months.
