Every company has a need for IT talent. But these days, it may not be so easy to come by! From Application Developers to Systems Administration, the demand for qualified IT professionals is on the rise. IT hiring is projected to grow 13% by 2026, which is faster than the average of all occupations. Here are four trends affecting the industry this year.
The industry is experiencing a labor shortage
Over the next two years, there will be 1.4 million open technology jobs, according to the U.S. Bureau of Labor Statistics. In that same time, only 400,000 people will graduate with computer science degrees. As companies strive to meet consumer demands, their IT hiring requirements are steadily increasing. This disconnect creates a huge burden.
Flexible work options are popping up everywhere
“Technology mobility is here to stay, and companies need a combination of in-office workplaces and flexible remote work options,” says Jeb Ory, CEO of Washington, D.C.-based Phone2Action. Interestingly enough, companies and candidates alike are moving away from full-time remote work. They see value in having face-to-face time with team members and also having the flexibility to work remotely as needed.
Compensation is extremely competitive
With the shortage of qualified candidates, competition for talent is fierce. Additionally, high demand certifications such as Cisco Certified Architects (CCAr), are driving salary premiums at a rapid pace. Hiring managers need to put their best offers on the table when it comes to hiring IT professionals. If you don’t offer a competitive salary, IT professionals will move on to another employer who will.
Faster hiring processes secure talent
Two-thirds of non-executive technology professionals say they would “lose interest in a job if there was no follow-up within two weeks of an interview.” However, the average time to fill a staff-level role is 4.5 weeks. In order to secure top talent in the IT space, companies will have to move quickly!