The Our Crowd High-Tech Jobs Index Q2 2021 Released Today Shows Strong Demand for Startup Recruits

Study of Q2 job openings at OurCrowd companies shows vacancies soared 300% over12-month period
Majority of companies plan to hire aggressively thru 2021
95% of OurCrowd companies re-open offices as hybrid work patterns spread
Software engineers & business development most in demand

Jerusalem Aug. 26, 2021The Our Crowd High-Tech Jobs Index Q2 2021 released today shows strong demand for startup recruits despite the ongoing COVID 19 pandemic, with a 300% year-on-year increase in the number of jobs advertised from Q2 2020 to Q2 2021. OurCrowd portfolio companies have no plans to slow down their proactive hiring strategy – more than 60% of companies are seeking to grow their teams beyond key positions. This is the third quarterly high-tech jobs survey by OurCrowd, the world’s largest venture investing platform and Israel’s most active investor.

The Our Crowd High-Tech Jobs Index Q2 2021 released today shows strong demand for startup recruits despite the ongoing COVID 19 pandemic, with a 300% year-on-year increase in the number of jobs advertised from Q2 2020 to Q2 2021. OurCrowd portfolio companies have no plans to slow down their proactive hiring strategy – more than 60% of companies are seeking to grow their teams beyond key positions. This is the third quarterly high-tech jobs survey by OurCrowd, the world’s largest venture investing platform and Israel’s most active investor.

The number of vacancies posted by OurCrowd portfolio companies on the Portfolio Jobs section of its website has risen dramatically. During Q2 2021, an average of 31 new vacancies were added every day compared to 15 new vacancies every day during Q1 2021 – an increase of 200% from the past quarter, following a steady growth of 7% from quarter to quarter in the previous 3 quarters. Software engineering remains the most in-demand category with 18% of current openings. Business development is a close second with 15%.

The trend of hybrid working in light of the continuing Covid-19 pandemic continues across the industry. While 95% of companies have reopened their offices, only 13% are working in the office full time while 80% allow employees to work from home part time. Even though Israel is a world leader in the proportion of its population that has been vaccinated, 77% of Israeli companies surveyed say they expect the hybrid model to continue at least until December.

“As the spread of the Delta variant throws workplace planning in doubt once again, the widespread adoption of remote working patterns suggests many high-tech companies will be able to continue their business activities with minimal disruption,” says Laly David, Business Development Partner at OurCrowd. “Most important, the trend of hiring employees from peripheral geographic areas is here to stay and fortunately even grow.”

Moshe Tanach, CEO of NeuReality, an OurCrowd portfolio company, says: “COVID created an urgent necessity that pushed us to adopt a hybrid work environment that is critical, especially for new employees. In NeuReality, we are committed to maintain and improve this new working model, no matter what will happen with the COVID pandemic. We believe it is an essential component in our future success.”

The hybrid work model seems to have other implications. As remote work has become more commonplace over the past year, more Israeli companies say they are inclined to hire employees from the “periphery” – beyond the main high-tech corridor between Jerusalem, Tel Aviv and Haifa. 35% say that are more open to hire from the periphery while another 55% said they already did before the pandemic hit.

“Morphisec is moving from the start-up phase to the scale-up phase and has doubled its workforce since the beginning of 2021 across Israel, the US and India,” says Michal Gilboa, VP of Human Resources at Morphisec. “In an effort to address the needs of our employees while growing during Covid, we have opened a small Tel Aviv office in addition to the Beersheba HQ to enable employees to work partially at an office while reducing commute time.”

Remote security has also become a concern. More than half of SME IT professionals surveyed by OurCrowd portfolio company JumpCloud in June say they plan to spend more on remote management technology and security technologies related to remote work. Three quarters of the IT professionals said that remote work makes it harder for employees to follow good security practices.

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