Approaching the second quarter of 2023, talent is set to create significant challenges for the gaming and I-gaming sectors, with the major talking points of this year being:
· Continued shortage of talent
· Industry’s willingness to use innovative talent solutions
· Candidates’ demands for better packages beyond a basic salary
For a while now it’s been a candidates’ market with high demand for talent and a shrinking talent pool. However, due to the sector’s high-growth mode, with recent headlines showcasing 12.5% salary growth figures, even more pressure is being applied on the increasingly competitive talent in this game. Adding on, there's two sides to the coin, one showcased by the demand for skilled candidates and the other focusing on employee retention, with significant investments reported to help retain top talent and reduce turnover.
So what’s driving the demand for talent?
1. The legalisation of sports betting in the US, affecting global competitors
2. Rising adoption of mobile and online payment methods
3. New audiences – with more female players engaging in I-gaming
New technologies often bring new complications, and this is precisely the case in the gaming industry. For companies looking to hire experts in new tech fields like IoT,VR, AI and cryptocurrency, the skills shortages continue to create problems and affect the development of new projects.
Adding to this, tech roles have also become geographically standardised, and the chances of finding people from a less expensive talent market have dropped considerably.
However, with new challenges also come new opportunities.And while the talent shortage continues, gaming companies are becoming more open to game-changing models of talent acquisition. Enterprise-level solutions offer significant improvements in speed, efficiency, and overall performance.From MSP (Managed Service Provider) to Leadership Search, Rethink can help these businesses level up their talent acquisition in 2023.
The gaming industry is reaching maturity and venturing into new markets.
Recent headlines showcase big salary increases across senior management roles, mainly due to the US, where new roles are being created at a senior level. Adding to this, the industry is evolving globally, C-level, and strategic roles are more valued, and the right candidates are sought-after by these companies.
Securing talent is a tricky process, mostly due to candidates’ demands. Highly skilled candidates are expecting generous benefit packages, and even equity, to consider roles they could bring value to. According to I-Gaming Business, to successfully hire in the current landscape, gaming companies need to think seriously about giving candidates – and existing employees – what they want. To gain the competitive edge when it comes to winning the talent war, these perks can range from flexible work to investment in development of in-house teams.
The past 6 months have seen lots of recruitment growth for areas such as AR and VR, but additional skills that need more attention in the gaming studios are advanced animation and physics programming. These skills are not only hard to find, but are accompanied by high salary expectations, so planning ahead and focusing on a seamless experience is key to succeed.
· Virtual and Augmented Reality Development
· 3D Animation and Modelling
· Video Game Design & Programming
· Server and Network Administration
· Content Creation
· Community Management
· Social Media Management
· User Experience Design
· Data Analysis & Visualisation
There are multiple reasons why Gaming companies choose to create meaningful partnerships with companies, like Rethink. Simply put, a Managed Service Provider (MSP) can help businesses find the right talent for the right job. We’re not only talking about access to a larger pool of specialised candidates, but a deeper industry knowledge and the ability to leverage the provider’s technology to identify the best candidates.
MSP providers also offer a variety of services such as candidate sourcing, pre-screening, interview scheduling and background checks, which can streamline the recruitment process. Additionally, there are other several reasons why looking into this should be top of your to-do list:
· Governance and Compliance: By ensuring that all recruitment practices adhere to the relevant rules and regulations, working with an MSP partner can provide your teams with guidance and make sure all recruitment activities are conducted ethically and in line with the latest regulations.
· Cost Savings: Outsourcing can be more cost-effective than hiring in-house personnel. The cost savings can be significant, as clients don’t have to pay for recruitment, benefits, and training.
· Access to Global Talent: With a global talent pool of potential freelancers and contractors, clients can access skills and expertise which may not be available locally.
· Greater Flexibility: With outsourcing, clients can scale up and down as needed, allowing them to adjust quickly to changing market conditions and customer needs.
· Reduction in Overhead Costs: Outsourcing eliminates the need for physical office space, equipment, and other overhead costs associated with running a business.
· Time Savings: Outsourcing projects can save clients time and effort, as they don’t need to source, interview, and hire in-house personnel.
Here at Rethink, we pride ourselves in helping our partners maximise their potential, achieve their goals and stay ahead of the game. Find out more here!