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Banks and healthcare firms are outbidding tech for software talent, major recruiter says

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In short

Driven by an imperative to integrate artificial intelligence, non-technology sectors are leveraging mass tech layoffs to recruit skilled engineers. Recruitment data reveals healthcare organizations offer 17% higher pay and banks offer 13% more than traditional tech firms for software roles. Meanwhile, roughly 55% of non-tech companies surveyed are explicitly pursuing talent cut from major technology corporations.

Key points

  • Non-tech sectors are using elevated salary offers to successfully capture technical talen…: Non-tech sectors are using elevated salary offers to successfully capture technical talent from the tech industry.
  • Escalating layoffs at major tech companies provide traditional firms with an unprecedente…: Escalating layoffs at major tech companies provide traditional firms with an unprecedented pool of available workers.
  • Enterprise demand for artificial intelligence skills is fundamentally reshaping hiring pr…: Enterprise demand for artificial intelligence skills is fundamentally reshaping hiring priorities outside the traditional technology sector.

Sources checked by our analysis pipeline: 1

Banks, healthcare companies and other non-tech employers are outbidding tech firms for software engineers as demand for AI skills rises and layoffs reshape the talent market, according to new research by recruitment giant Randstad.

Healthcare and life sciences firms are paying up to 17% more for software engineers than tech companies, while banking is offering 13% more, per the research, which surveyed 1,100 business and technology decision-makers in 11 countries, including the U.S., U.K., France, Germany and Japan, and drew on 20 million job postings and roughly 100 million candidate profiles.

"These businesses see massive potential in AI, realizing business cases that they were not able to realize before," Sander van 't Noordende told CNBC's "Squawk Box Europe" on Thursday.

"We've seen a massive investment wave in the technology sector ... now that wave is shifting towards businesses looking to find the benefits of AI."

The research also found that job postings requiring AI capabilities grew fivefold over the past year.

Tech layoffs reshape hiring

Meanwhile, 55% of non-tech organizations surveyed said they were recruiting workers following tech-sector layoffs.

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