Top Software Leaders Share Their Blueprints for Hiring Engineers in Karat’s 2023 Tech Hiring Trends Report

Annual survey of more than 700 engineering and talent leaders highlights casting a wide net, accelerating the interview process, and prioritizing inclusion as key differentiators for organizations seeking top tech talent

SEATTLE--(BUSINESS WIRE)--Karat, the world's largest interviewing company, released its third annual Tech Hiring Trends Report today. Set against the backdrop of a volatile economy and wave of new AI-driven innovations that are creating new opportunities and challenges for businesses, this year’s report shares insights and best practices based on a survey by The Harris Poll of more than 700 software engineering and talent leaders in the US and India.

Despite the ongoing cycles of big tech layoffs, demand for software engineering talent has remained strong. In fact, the value that US Engineering leaders place on strong engineers has grown. Over half of the US engineering leaders surveyed this year agreed that strong engineers were worth at least 3x their total compensation — up 10 percentage points since 2020 (45% to 55%) — when the job market was at its peak.

“Karat’s 2023 Tech Hiring Trends report not only confirms that engineering talent is more relevant and valuable than ever; it also suggests that the best ways to attract that talent haven’t changed: hire fast, hire fair, and give more candidates an opportunity to show you what they can do,” shared Jeffrey Spector, Karat co-founder and president. “As many companies have ramped down their recruiting machines, it is still those that can hire quickly that are happiest with their employees. And while some companies are no longer putting the same kind of support behind DEI initiatives, those that continue to do so say they build the strongest teams.”

This year’s report examines the attributes and best practices of a cohort of top performing US engineering leaders — a group characterized by their confidence in meeting hiring targets and satisfaction with the quality of their hires. It also includes commentary from some of the best software and talent leaders in the world from iconic companies including Tesla, Visa, Deloitte, Walmart, GSK, Okta, and more.

Key findings and best practices include:

• How casting a wider net and accelerating the hiring process improves performance.
• Why sourcing preferences are shifting away from referrals and resume screens in favor of high-volume assessment tools.
• What benefits and challenges come from hiring in India.
• Why there is an enduring importance of prioritizing equitable and inclusive hiring.
• What strategies are to identify skills and assess talent in an AI-enabled world.

“Engineering talent is becoming even more essential for businesses as digital experiences and AI innovations drive the next wave of economic growth,” added Spector. “The companies that continue to invest in the future will be in the best position to succeed, and it’s our hope that this report can help shine light on the best approaches for hiring the people they need to take that step forward.”

To download the full report, visit https://karat.com/tech-hiring-trends/

About Karat

Karat helps companies hire top engineering talent with confidence. As the end-to-end hiring solution, we work with organizations to improve the quality, efficiency, and equity of their technical hiring process. Global leaders like Walmart, Atlassian, Roblox, and Citi rely on Karat, combining human expertise with innovative technology, to conduct hundreds of assessments and interviews every day. Our mission is to make every interview predictive, fair and enjoyable. Learn more about the world’s largest interviewing company at www.karat.com.