🔱 Maritime Software Hiring Trends
2023 has been a very interesting year for the maritime software space.
The upcoming 1st Jan 2024 EU ETS regulations have shone a spotlight on carbon emission monitoring and reporting, accelerating hiring activity in vessel performance solution providers, chartering platforms, and data insights businesses.
But what has had the biggest impact on talent movement in 2023?
🤝 Market Consolidation
M&A, strategic partnerships, and general market consolidation have continued to increase with big moves from companies like Danelec, ZeroNorth, Sedna, Spot Ship, Spire, Dataloy Systems AS, NAVTOR and a number of others.
✍ From a recruitment perspective, consolidation has some major pros and cons:
Pros:
1. Fewer vendors on the market for customers to choose from
2. Better exchange of ideas across key specialisms
3. Opportunity for employees to grow within a larger group
Cons:
1. The existing talent pool shrinks because businesses are no longer able to hire from “associated” companies
2. Potential uncertainty for existing employees within partner businesses (unless the change is communicated effectively)
3. Possible reduction of promotional opportunities for employees
4. Change of targets, quotas and KPIs – may be more aggressive
❓ What does this all mean for future talent in maritime software markets?
We will need to attract more skilled professionals from outside of shipping, and specifically outside of shipping tech.
We need to keep increasing the number of females in the workforce, take pride in having a strong diversity and inclusion culture.
Appeal more to exciting SaaS businesses across sectors like supply chain, freight visibility, e-payments, renewables and fintech.
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🕵♂️ Conclusion
Passive and Active candidates will still make career moves within the maritime software sector. It is a truly fascinating market and professionals from outside of shipping are attracted by the industries’ push towards net carbon zero and we should be promoting this ambition more widely outside of our immediate networks.
BUT
I think potential job seekers will be more picky than usual. They may want to learn more about the business vision, ESG policies, ownership structure, role targets, and criteria for promotion.
Whatever happens in 2024 my team at Cordell Beaumont will have our ears to the ground and will be sharing the latest hiring trends, job vacancies, M&A news, Maritime SoftwareHub – The People Podcast episodes… and much more. 🙋♂️
