Hiring can be a difficult task in and unto itself. Couple that with the unique challenges in finding top IT talent and you can find yourself in a sticky situation. But the question is, why has it become more difficult as of late?
Here, we explore the hiring landscape as it specifically relates to the IT field and what you can do to up your odds of finding the new employees that your business needs.
Supply and Demand
At this time, it is a job seekers market when it comes to IT positions. The available supply of skilled IT talent is not able to meet the demands of the marketplace. It is estimated only three percent of IT workers are currently unemployed. This means that recruiters and hiring managers have to work even harder to identify candidates who are both willing and able to fill the needs of a particular position.
These challenges may be even more dramatic when examining individual skill sets. Since the ideas around Big Data management are relatively new, it can take longer to find a candidate with the necessary skills to perform the work. Developers for software and the web are also in high demand, along with those specializing in IT security. Certain legacy systems, though still used in many workplaces, are not being taught to recent graduates, making suitable applicants in these areas a rarity as well.
Increased Costs for Recruitment and Hiring
To help locate suitable applicants from a shrinking pool of IT talent, most businesses are forced to spend more on their recruitment efforts. It can take longer to find the candidates you need, which means advertising runs have to go on longer and be placed using multiple mechanisms. With the broad range of job posting sites, LinkedIn profiles, and direct recruitments, businesses have to cast a wide net to find the people they need.
These costs are coupled with the need to offer higher starting wages and more benefits. Since job seekers know they are in the pilot’s seat, they aren’t afraid to make more demands. And, with competition so high, they will likely get them. Technology hotspots, like Seattle and Minneapolis, have seen wages rise faster than other locations as talent in the region becomes difficult to find, and competing businesses have no choice but to hire at higher rates.
Candidates who are receiving competing offers also drives prices higher. Since job seekers rarely apply to only one new opening, it isn’t uncommon for a bidding war to begin as companies duke it out to win the applicant over. This process can also lengthen the time required to complete a hire.
Freelance Markets
Freelancing is an attractive option for job seekers who are looking for increased flexibility. Not only can they stick with the IT areas they enjoy most, but they can also charge a premium for their services. Schedules can be created to suit their needs and obligations, instead of having to force their lives around your schedule. This shift in the workforce dynamic has led companies to be more open to hiring freelancers, further fueling the fire.
How to Compete
To attract the best talent, your business needs to make sure your compensation packages are competitive for your area. Other benefits, like flexible work schedules or remote-worker options, can also be enticing to candidates.
If you want to cast a wider recruitment net, consider working with a staffing company like Advance Staffing Solutions. We have the skills and resources necessary to actively find the candidates you need to fill your vacancies. Contact Advance Staffing Solutions today and put their recruitment skills to work for you.
