Roughly one-third of tech professionals are searching for a job, and 60 percent plan to switch roles within the next year, according to a recent analysis by Dice. There’s no point in delaying your job search until after the holidays—if you wait until January to start looking, you’ll encounter even greater competition and be weeks, if not months, behind where you need to be.

While the market is starting to regain momentum after two years of layoffs, there have been significant changes that will continue to impact the demand for technical talent, salaries and time-to-hire through the end of the year and into 2024, advised Jared Coseglia, founder & CEO of TRU Staffing Partners.

Here's a look at what to expect from the job market for the rest of the year and some ways to adapt your strategy to take advantage of the turbulent market conditions.

Consider Contract Work

After slashing full-time payrolls to correct a pandemic-induced hiring frenzy, many companies are now turning to contractors to handle mission-critical projects. Unlike employees, contract labor is not a fixed payroll cost, which helps managers deal with budget restrictions and hiring freezes.

According to data from Tru Staffing, contract jobs in the areas of data privacy and cybersecurity comprised 52 percent of offers accepted in 2023, and are projected to constitute 65 percent in 2024. Other sources show that the movement toward contract hiring applies to other tech jobs, as well.

Instead of trying to compete for fewer full-time positions, contracting can be a smart way to make more money or plan your next career move, especially if you’re unemployed.

Coseglia says that, when you work on projects on a contract basis, it is possible to earn the equivalent of an annual salary in just eight months and enjoy greater satisfaction and the ability to make an impact. Plus, it’s a great way to broaden your contacts and experience for when the market swings back to full-time hiring in 2025.

Temper Your Salary Expectations

As we reported in September, some companies are rehiring after laying off thousands of workers just a few months ago. The catch is that they are trying to take advantage of the abundance of candidates by offering lower base salaries.

Between 2021 and 2022, the average increase in salary at the point of hire was 20 to 40 percent for mid-level pros with three to eight years of experience, Coseglia noted. Now it’s 12 to 24 percent.

Tech candidates may need to exercise restraint in their demands for a salary increase when changing jobs, in order to avoid pricing themselves out of the market. The silver lining is that you can always negotiate an increase or re-enter the market when conditions return to favoring employees.

Don’t Insist on Fully Remote

To improve your odds of landing a job, be open to considering hybrid and in-office positions.

For comparison, when companies lower their in-office requirements from five days to three, they increase their candidate pool by 50 percent (and as much as 70 percent if they lower the requirement to two days). Plus, you may be forced to compete against job hunters who are willing to take a pay cut to work from home.

If you are only interested in fully remote opportunities, focus your search on the 81 percent of companies with fewer than 5,000 employees that offer remote work options. Data shows that large companies are not offering as many remote positions as job hunters would like. In fact, just 26 percent of companies with more than 25,000 employees are fully flexible.

Stop Blindly Applying to Jobs

It’s a frustrating time because many companies are taking a “hurry up and wait” approach to hiring, explained Mike Cohen, founder of Wayne Technologies, a company that provides sourcing-as-a-service and talent intelligence. When the market is flooded and companies are unexpectedly putting advertised positions on hold, applying to jobs along with hundreds of other candidates is a waste of time.

However, not all is lost. There are key roles that need to be filled and companies want to save money on recruiting costs. With that in mind, how can you identify the positions that are worth pursuing and offer value at the same time?

Your best shot at getting an interview is to contact the hiring manager directly, Cohen says. Send a specific (non-generic) letter expressing interest in the company and why you’re a good fit for a particular position or type of opportunity.

Partnering with a third-party recruiter can help, as well. Even though they charge a fee, recruiters know which openings are a priority and usually have a direct line to the hiring manager. They can fast-track your resume as long as you are qualified for the position.

Make an Effort to Stand Out

Some eight percent of the current openings resulted from bad hires. To avoid making similar mistakes, companies are taking a more deliberate and cautious approach to selection and hiring.

The solution is to establish yourself as a subject matter expert by using inbound marketing strategies to set your brand apart from competitors. Get noticed by offering bold opinions on various technical topics, tools or methodologies in blog posts and articles, then tag one or two people at the company you want to work for.

It’s a great way to get the attention of the people you tagged, which could lead to networking opportunities, recognition, or even job opportunities.