A recent report by Staffing Industry Analysts (SIA) indicated that technology is the second largest area for needing to hire within organizations, for the second half of the year. Unfortunately for senior managers, the already rising demand for tech talent brings challenges to fill roles. Not only is finding skilled candidates a hurdle, but with fierce competition for talent, organizations must also find ways to accelerate the average seven week-hiring cycle.
According to the Bureau of Labor Statistics (BLS), even though 2020 saw a net loss of jobs in IT, all those positions have been recovered. Job growth has been on the rise for at least 12 consecutive months adding 130,300 total IT jobs through July 2021. Coupled with the fact that there are not enough IT professionals to fill all the positions, companies are giving signing bonuses, more paid time off, and better titles to lure presently employed IT talent. Additionally, organizations must recognize that people are becoming far more discerning when evaluating offers.
An area of IT, cybersecurity, is not only one of the most in-demand IT skillsets, but also among the fastest growing career areas in the U.S. The BLS predicts cybersecurity jobs will grow 31% through the end of the decade which is seven times the national average for job growth! This presents one of the greatest talent obstacles as the call for cybersecurity professionals looks to have no end in sight, based on the ever-growing cyber threat environment.
For organizations, large and small, to effectively find and retain talent, it is imperative to have a strategic plan to engage with specialized recruitment professionals, when in need of particular technology skillsets. Most of the best IT pros are well-situated, not searching for new roles, and will never see job postings. Instead, they are often part of vast, private peer networks tied into technology staffing experts.