What’s new, IoT?
By being a specialist recruiter, we create and adapt our teams to the needs of our clients and market. To meet those needs we developed an own IoT-Team, consisting out of Jonas, Stine & Patrick, focusing on our small and mid-sized technology companies. Together the team are sourcing for IoT companies and other companies that develops both Hardware and software.
Over the last three years the IoT team has been helping companies like Airthings, Minuendo, ECO-Stor, Sensibel, Huddly, Miros, Dignio, and many more grow by securing the right talent at the right time.
With the current changes, downfalls, and opportunities in the market and maybe some uncertainties our IoT team was sharing their insight and experience in a short interview with us.
Jonas, do you think that Norway, and in particular Eastern Norway, is one of the European HotSpots for IoT start-ups and scale-ups?
“If we look away from London, then Norway is absolutely up there.”
And what about you, Patrick? How do you see the IoT Market in Norway?
“Something people tend to forget is that Norway had an oil and gas industry with a significant number of companies operating within a similar field to IoT. Companies developing sensors with both Hardware and Software. I think this is a huge advantage in terms of IoT companies securing the best talent and in some interesting way, we have the oil and gas sector to thank for the quality of candidates out there.”
Looking away from the location and the Oil & Gas input, what would then make an IoT company interesting to a potential candidate?
“Something with a meaning. For example, sustainability, green energy, prop-tech, med-tech, green-tech.”
Is the IoT Industry facing struggles or problems right now? And does the market situation affect their development?
Stine: “Since back when COVID came, access to components have been a major issue for many, and in some instances put a stop to the growth of the company. Not only lack of access but also delivery time has been a problem, and still is today.”
Jonas: “As we all know the access to funding is not what it was a year ago. Still some IoT companies manage to secure funding, something we have recently seen with ECO-Stor. Soon we will read big news about another client of ours who have secured 100 million NOK in funding.”
Jonas, you were talking about the market and the funding situation. But what about Candidates? Are there more available than a year ago?
“Not really. Of course, there are some companies having to let go of people but the demand for competent talent is still so high that this doesn’t make a lot of difference. At least yet.”
Looking at AvantGarde Search. Is it business as usual?
“At the same time as some of our clients have slowed down the recruitment strategy, we are getting new clients regularly. We like to think that this shows that there is still positivity within the market.”
What are your best tips for companies recruiting talent from management level to sales, marketing, and technology?
Stine: “Be even more out there and market your company/product. IoT companies tend to “hide” away a bit more than other tech companies.”
Jonas: “Look outside of Norway and have English as your number one language. There is some awesome talent abroad, both in the Nordics, Europe and beyond. Many people are interested in moving to Norway. For example, we recently hired a candidate for Dignio from New Zealand.”
Patrick: “Might seem obvious but you need to compete on salary with the bigger ones. Share options alone is not enough anymore. It is a lot about security and benefits”
Stine: “One more thing. If your company is based in Oslo, be open to have people working remote from other cities. Many places have great talent. Trondheim is a good example of this.”
Big thanks to our IoT team for their time this morning and hopefully this was useful insight for a lot of companies out there.