5 Remote Global Hiring Trends for 2023: Insights from Weiting Liu of Arc

We are delighted to present the text version of our webinar titled “Trends in Remote Global Hiring for 2023,” conducted on December 22, 2022. Our distinguished speaker, Weiting Liu, is the founder and CEO of Arc.dev, a prominent platform specializing in hiring remote software engineers. Weiting’s expertise stems from his previous venture, Codementor, a renowned developer mentorship community connecting engineers with industry experts. With an impressive background as a two-time YCombinator and Techstars alumnus, Weiting holds a Master’s degree in Management Science and Engineering from Stanford University.

During this insightful webinar, Weiting sheds light on the top five remote hiring trends and explains their significance for engineering leaders. Moreover, he offers actionable advice for companies aiming to enhance their hiring strategies in 2023.

5 Trends in Remote Global Hiring for 2023

Introducing five remote hiring trends:

Trend 1: Tech Layoffs and the Great Resignation

Despite recent layoffs and resignations, there remains a talent shortage compared to job openings. The market is transitioning from a heavily candidate-driven market to a slightly more employer-friendly one. However, the market dynamics vary based on position type, industry, and geography.

Trend 2: Rising Software Engineer Salaries in the U.S.

Software engineer salaries in the U.S. are expected to increase by 26% by 2030. Tech regions, like Northern California, will see even higher salary growth. The U.S. still faces a domestic engineering shortage, but globally, salaries are relatively lower.

Source: Arc’s Remote Salary Explorer

Trend 3: The Rise of Global HR Tech

Global HR tech has witnessed significant investments in recent years. Technologies like applicant tracking systems (ATS) and job aggregator sourcing tools have become standard for optimizing candidate funnels. Exploring HR technology options can provide a competitive advantage in hiring.

Trend 4: Prioritizing Candidate Needs

Candidates in different regions have varying priorities. For example, U.S. developers value new challenges and continuous learning, while Latin American candidates seek flexible working hours and payment in U.S. dollars. Tailoring job offerings and company profiles to meet candidates’ needs can attract the right talent.

Source: Hired 2022 State of Software Engineers

Trend 5: Diversity, Equity, and Inclusion

Candidates increasingly prioritize diversity and inclusion when considering job opportunities. Companies that actively promote DEI initiatives and reduce bias in the hiring process can attract a more diverse talent pool. Remote global hiring also presents an opportunity to diversify teams and create an inclusive environment.

In summary, these five remote hiring trends highlight the shift towards an employer-friendly market, rising U.S. software engineer salaries, the evolution of HR tech, the importance of addressing candidate needs, and the emphasis on diversity, equity, and inclusion in hiring practices.

What You Can Do to Succeeded in Hiring in 2023

Key strategies employed by successful hiring companies in 2022 that you can implement now:

Embrace Global Talent and Remote Contractors

Expanding your search for talent globally and utilizing remote contractor roles enables access to a broader pool of engineers. This approach offers advantages such as cost savings through lower salaries and rates, as well as the opportunity to tap into a diverse range of skills. Platforms like YouTeam or Arc can assist in incorporating contractors seamlessly into your workflow, similar to configuring an EC2 instance in Amazon’s Elastic Compute Cloud.

Foster Transparency in Compensation, Benefits, Culture, and Hiring Process

Overcoming reservations about disclosing compensation, benefits, and perks in public job descriptions is crucial. These elements are highly attractive to developers, as revealed by surveys conducted by Arc. Being transparent about these aspects of your organization can help attract top talent.

Prioritize Candidate Needs: Flexibility and Learning Opportunities

Understanding the preferences of exceptional developers in specific locations is essential for tailoring your hiring strategy. Research indicates that flexible work schedules and learning opportunities are highly valued by most engineers, although the significance may vary depending on the location. Aligning your offerings with these expectations will enhance your appeal to top candidates.

Final Thoughts

Adapting to remote global hiring trends is essential. Explore global talent, leverage HR tech, prioritize candidate needs, and foster transparency and diversity. These strategies attract top talent, optimize hiring processes, and drive business growth in a competitive landscape.