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What’s New in IT Recruiting?

 

According to the September 2022 CompTIA Tech Jobs Report, the IT unemployment rate was at 2.3% in August. The increase from 1.7% the previous month likely was because the overall US unemployment rate increased. Also, large IT companies laid off employees. Plus, many IT employees left their jobs for other opportunities.

The U.S. Bureau of Labor and Statistics (BLS) Economic News Release for August 2022 showed 3.97 million available IT jobs. Like the past 24 months, this trend is expected to continue.

As a result, the competition for IT talent should remain tight. Fortunately, partnering with an IT staffing firm can ease recruiting concerns.

Learn more about the current state of IT recruiting and how RightStone can alleviate your IT staffing concerns.


IT Job Openings

CompTIA stated that the IT industry added 175,700 jobs so far in 2022. This is 46% ahead of last year’s job gains.

Job postings for IT roles were slightly under 320,000 in August. Thirty-one percent of these jobs were in artificial intelligence, machine learning, the Internet of Things, data analytics, and automation software.

IT job postings from January through August 2022 increased by 56% over last year. This shows remote work likely will remain semi-permanent.

Slower IT Hiring

The pace of IT hiring likely will slow due to the recession. CIOs are unsure of how the economic downturn may impact their bottom line. Some businesses stopped hiring and began laying off employees.

An average of 200,000 IT roles remains unfilled due to a lack of qualified candidates. According to the Mid-Year 2022 IT Salary Survey by Janco Associates, Inc., many roles are paying up to 10% higher salaries to attract the best talent.

However, this disparity is causing current employees with lower salaries to find different employers. As a result, CIOs must find a balance between the budget, employee salary increases to address inflation, and the resources needed to attain the technology and bottom-line objectives.

IT Education Requirements

Approximately 20% of IT job postings in July 2022 were for roles requiring 2 years of experience or less. Also, nearly 50% required 3-5 years of experience. Plus, 13% of the positions required at least 9 years of experience.

Many employers no longer are requiring college degrees for some of their IT job openings. Candidates’ skills, experience, and personality traits are becoming more important than their educational background. This increases the candidate pools for open roles.

Software developers and engineers are especially in-demand. There were approximately 148,000 job postings for these roles in July 2022. IT support specialists, project managers, systems engineers and architects, and network engineers and architects also are in short supply.

Roles in emerging technologies or roles requiring these skills accounted for 33% of job postings in July. Many companies began hiring IT professionals through coding boot camps, low-code training, and other non-traditional approaches.

Get Help with IT Recruiting

RightStone can match you with skilled IT professionals to fill your job vacancies. Get started with us today.


Leveraging a Staffing Firm During High Unemployment

Over the last year, the U.S. has watched the unemployment rate take some deeply worrying turns. Although unemployment is now bouncing back slowly, the consequences of mass layoffs and upended industries are still making themselves known.

A staffing firm can be a valuable ally during times of turbulence, including this period of high unemployment. Here’s why working with a staffing firm could be the right business decision for your company.

Staffing Firms Hire Faster at a Lower Cost

With more people out of work, more talented candidates are on the hunt for a new role. As a result, you’re more likely to see a deluge of applications for every open post, which complicates the hiring process.

Staffing firms are more adept at sorting through large applicant pools, including greater numbers of unqualified applicants. They also have existing talent pools that they can leverage to shorten the time from job advertisement to hire.

In short, staffing firms have the resources to shorten the time to hire and manage hiring during high unemployment while staying on budget.

Staffing Firms Help Manage the Risk of Hiring

High unemployment often coincides with a difficult business environment in which organizations need more staff, but the associated costs can be a risk.

Staffing firms can work with you to fill contract roles that allow you to get the help needed without committing to permanent roles with benefits. Temp-to-Hire can be a smart option if you see the need extending in the medium to long-term, but your tolerance for risk is low for the short term.

Additionally, recruiters have a keen eye for the hiring process. They’re better able to find you better quality Temp-to-Hire or contract consultants, which add value to your business and are more likely to turn into long-term partnerships when the time is right.

Get Started with Hiring Experts

High unemployment grants businesses access to more talent with less competition, but these periods of instability rarely leave businesses themselves unscathed. Working with a strategic partner to manage your talent pipeline can ensure you mitigate risk and stay on budget while also ensuring you get the help you need in the office.

Get in touch to learn more about RightStone nurtures consultant and client relationships to find the right fit every time.


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