52% of IT Leaders in Bulgaria Expect to Grow Their Tech Teams in the Next Year

Survey reveals IT technician skillsets (41%), security software development (32%) and data analysis (30%) as the top areas in which new talent was or will be added

Over half of the surveyed IT leaders in Bulgaria (52%) have expressed plans to grow their tech teams over the next 12 months, with 24% of them expecting to expand their teams between 10% and 25%, according to the Equinix 2023 Global Tech Trends Survey.

The 2023 Global Tech Trends Survey gathers the opinions of 2,900 IT decision-makers from diverse enterprises across the Americas, Asia-Pacific and EMEA regions, including Bulgaria, on the challenges and opportunities they face implementing innovative technology strategies in this complex economic and geopolitical climate. Its results were published earlier this year.

These findings are part of a bigger trend that has been observed both in the country and around the world over the past few years. According to the study 52% of IT decision makers in Bulgaria and 57% globally have reported that their team size also grew in the last two years. While just 5% of Bulgarian digital leaders and 12% worldwide anticipate their teams shrinking in the next year.

The survey results show that IT technician skillsets (41%), security software development (32%) and data analysis (30%) as the top areas in which new talent was or will be added in the country. At the same time shortage of IT talent (63%) was cited as the third biggest threat to business success, surpassed only by security breaches and data leaks (70%) and cyber attacks (69%). However, the biggest skills challenge facing the tech sector in Bulgaria is talent retention (51%). Respondents also cited the speed at which the tech industry is transforming (44%), lack of available talent (42%) and people applying for jobs with the wrong skillsets (34%).

Brandi Galvin Morandi, Chief Legal and HR Officer, Equinix

Brandi Galvin Morandi, Chief Legal and HR Officer, said: “Technology teams are facing increasing pressure to meet business strategies as the workforce attempts to keep up with the pace of technological transformation. Access to talent is now a critical boardroom matter across all industries and can even be a determining factor in whether a company expands into a new market. Increasingly, HR organizations must act with agility and a growth mindset to continuously deliver dynamic solutions. A new approach to how we access and enable talent may be the competitive advantage.”

The survey results support the opinion that the demand for skilled tech professionals has outpaced the available supply. This challenge is compounded by the drive of tech enterprises to foster diverse and inclusive teams, resulting in a noticeable shortage of talent in the IT space. To address this issue, Equinix launched The Equinix Foundation in September 2022.

  • The Equinix Foundation partners with organizations to advance digital inclusion, from providing access to technology and connectivity, to developing the skills required for technology careers. By doing so, Equinix aims to close the digital divide and ultimately cultivate a robust talent pipeline.
  • The Equinix Foundation provides funding to nonprofit organizations, social enterprises and educational institutions working to advance digital inclusion in the communities, preparing individuals of all ages and backgrounds to succeed in today’s digital world.
  • For example, the Equinix Foundation has expanded its long-time commitment to World Pulse with a $100,000 grant, which specifically supports Her Digital Leadership Alliance—an initiative connecting women in 50 countries with digital skills to build grassroots momentum around bridging the gender digital divide.

A full copy of the report can be found here.

Some of the media coverage is available below:

Manager.bg: 52% of IT leaders in Bulgaria intend to expand their teams in the next year

BTA: More than half of the leaders of high-tech companies in Bulgaria expect their teams to increase this year, according to a survey

Economy.bg: 52% of IT leaders in our country expect the growth of technology teams in the next year

Digitalk.bg: More than half of the Bulgarian IT leaders will increase their technology teams