How is recruitment for online industries being impacted by COVID19? An iGaming case study.
2019 was a year of uncertainty and increasing global regulation for the iGaming industry, bringing an abrupt end to years of spectacular growth.
For a long time it seemed that there was no obvious silver lining in the near future that could sustain the kind of growth the industry has witnessed for years.
Despite this, iGaming still accounts for 37% of the overall gambling industry, and even produced revenues of £5.3 billion in the year ending March 2019.
2019 also saw reports of job losses for many iGaming firms in Malta – the centre of the iGaming industry. This came as a direct result of an increase in regulation in the UK and other key markets such and Sweden and Italy.
And then came the crisis of the global pandemic.
Beforehand, the sector was still predicted to grow over the next few years, while the global iGaming industry before the Covid19 Pandemic was also projected to grow at a compound annual growth rate of 8.77%.
But what should we make of the situation now?
With consumer wallets tightening the world over, it comes as little surprise to hear many in the industry are now preparing themselves for contractions as players hold on to their disposable income.
Recruitment in the iGaming Market
The expansion of several iGaming verticals had helped create significant employment opportunities in the industry. This was reflected both in quantity of vacancies available and the diversity of skills required. As a result, the competition amongst recruiters was fierce.
Software developers are still in very high demand in iGaming. The biggest suppliers like Microgaming and NetEnt are constantly competing to develop new and engaging titles for casino platforms.
Microgaming were one of the first large iGaming companies to openly speak out about the Pandemic. According to independent casino site Microgaming Casinos Land, they are the leading name within the software development segment of the industry.
They have since been followed by other large brands, including operators and affiliate sites as companies rush to reassure investors and employees.
In an increasingly customer-focused industry, the top operators also focus heavily on the quality customer service that they’re able to provide.
As a result, operators are continuing to employ experienced and talented customer service representatives during the crisis.
Recruiters in the iGaming industry know full well that multilingual employees offer particular value in this type of role. This is particularly the case nowadays as most of the latest licensed UK casino brands accept players from all over the world.
With players now accessing iGaming platforms from various devices and public networks, cyber security experts are still in high demand.
Security analysts who can encrypt websites and safeguard financial transactions are particularly sought after. They typically expect to receive a very handsome salary.
What Should Recruiters Consider In 2020?
Like many other industries, the pandemic has no doubt had a huge impact on recruitment within the industry.
Before the global health crisis had hit headlines, many UK brands were already feeling the squeeze due to Brexit uncertainty and increasingly tough legislation.
Exiting the EU without a trade deal could also have more knock-on effects for the UK market.
This will be exacerbated further if tax-friendly locations such as Malta and Spain are able to encourage operators to move their offices to warmer shores in 2020 and beyond.
This could also have the effect of driving talent away from the UK as employees would be pressured to move overseas to maintain their role.
Whatever the case, there will no shortage of question marks over the next few months.
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