Posts Tagged job market
A 2013 study funded by Microsoft found that each year, 230,000 new tech jobs are created. The report also showed that each year, only 49,000 students graduate with a computer science-focused degree. That leaves more than 70,000 jobs available – so why are eight million people in the U.S. unemployed, per the U.S. Bureau of Labor Statistics?
It’s called a skills gap, and the U.S. job market as a whole is experiencing it. There are Millennials straight out of college applying for jobs that they are under-qualified for – not because they lack field experience, but because they didn’t receive the college education needed to complete the tasks at hand.
Though the entire job market is being affected by the skills gap, the technology market is taking one of the hardest hits. In a recent article about the tech skills gap, the U.S. Bureau of Labor Statistics says that software development, data science, and systems engineering are among those STEM fields suffering the most from the talent gap.
Another skills gap study, conducted by Microsoft and Washington State, finds that one out of two jobs requires tech skills. Within the next ten years this number is predicted to increase to three out of four jobs. With Millennials unable to land these jobs, and employers unable to hire candidates, the market is not progressing.
This all sounds pretty negative . . . but it’s actually the perfect opportunity for people interested in pursuing a career in technology. Here’s why. By 2020, IT salaries alone are predicted to rise by 5.1% per year. The fewer qualified candidates there are for the technology field, the more invaluable tech gurus will become.
One way the tech industry is tackling the problem head on is through education. Companies are offering mentorships, industry experts are sharing their knowledge for free through blogs and online coding tutorials, and companies are even providing free training. For example, the Microsoft Software and Systems Academy teaches technology courses to active-duty military service members, in an effort to prepare them for the workforce upon completion of their military duties.
As for those who want a great career in technology – the key is to get the education needed to be successful – the education that, for some reason, others are not receiving. Research programs and education tracks before attending any program or school. Ask about success rates and investigate what the tech community has to say about those programs. The opinion of the tech community will tell you a lot about whether or not an education program will lead to a successful career.
Have you already received a great education? Are you ready to dive in to the technology field? Check out the Top Five Stem Cities for Employment on the TRC Professional Solutions blog to find the perfect city for your career.
The tech industry especially is known for evolving quickly. So if you’ve been out of the tech job market for a while, you may feel a bit dusty. But if you possess specialized knowledge, there’s a need for you right now – all you need is a little extra effort to position yourself perfectly for landing your next tech job.
The first thing to note is that a resume and great interviewing skills remain paramount – but they’re often not enough. Today, you’ll need to go the extra mile to put yourself out there. Those little extra steps will produce big results. For example…
Be social online.
If you don’t have a social presence, create one. If you have one but it’s neglected, it’s time to start showing up online. Explore the appropriate channels including LinkedIn, Facebook, Twitter and so on. Use these platforms to show who you are and to network with other likeminded people in the tech industry. Share your work, and work you admire with hashtags that help other tech professionals locate it. You’ll not only make yourself more visible to potential employers, but you’ll be able to reach out to them, via their own social media.
Getting your tech skillset up to par can be as simple as a single class, online or on-site. Read a book. Follow blogs. Attend a seminar, workshop, or tech industry function (the plus-side of these functions is that you also have an opportunity to make connections with people who can help you get a job). Just keeping yourself fresh takes very little effort, but it will make you a more desirable candidate as well as make you more confident you’re in-the-know as to what’s cutting edge in your industry.
Enlist technical recruiters.
Technical recruitment agencies, like TRC Professional Solutions, are highly specialized in recruitment strategies that help match engineers, finance and accounting professionals, and information technologists with technical employers and project-based jobs, direct-hire jobs, and permanent hire tech opportunities. They do much of the work for you and your potential employers by filling employment gaps with people just like you. They’ve already made many of the connections for you, and can be a valuable tool during your search. In fact, if you’re an engineering, IT, or finance and accounting professional and are interested in enlisting help with your job search, we’d be happy to hear from you.
Good luck with your search – and remember, the most important key to your career success and landing your job is perseverance.
In today’s economic conditions, have you noticed a shift from an employer-based job market to a candidate driven one? If so, you’re not alone because over the past few years, there has been an adjustment in our nation’s hiring strategy. So the real question is, what are the driving forces behind these practices and what is causing them to change?
Zach Sines, Recruiting Team Lead for TRC Professional Solutions shares his insight on the candidate vs. client job market conditions. He states, “Today, the market is candidate-driven because there are less job seekers available for the positions clients are looking to fill. Candidates are more selective about what they want in a new role. Due to this shift, employee perks and benefits have significantly improved at multiple organizations. As a result, salaries are steadily increasing and employers are looking to hire more valuable employees.”
A recent report from the MRI Network Recruiter Sentiment Study reveals that 83% of recruiters described the labor market as candidate-driven, which is an overall 29% increase from 2011.
The study also reveals that 31% of candidates refused job offers due to accepting outside offers.
Other reasons candidates are rejecting these offers were of various reasons:
- Candidates accepted a counter-offer from their current place of employment.
- The salary and/or benefits package was lower than expected.
- Candidates had a change of heart regarding switching jobs.
- Relocating for the position was not a top concern for the candidate.
Newly created positions continue to be the top reason for job openings. Staffing firms such as TRC Professional Solutions can help locate and place candidates for opportunities at many well-known organizations. Job seekers and hiring companies can learn more about TRC Professional Solutions, or feel free to engage with us by providing your insight on today’s candidate-driven market.