The 2020 pandemic has impacted the demand for talent in specific disciplines forcing hiring teams across the globe to revamp their acquisition models to conform to the new norm of remote work. The information technology or tech industry is no exception, as it is witnessing a change in hiring practices. As companies have undergone digital transformation, the demand for technical talent has gained momentum, while the supply of talent continues to fall short.
According to a compilation of The Best of Jobs of 2020 by Indeed, two IT jobs ranked at the top with the highest number of job postings per one million jobs and offered the highest pay. Stats like this show how pressed companies are to fill their IT roles, but it also forces them to address hiring challenges unique to the IT/tech industry. Here are a few hiring challenges facing tech recruiters.
1. Finding the most qualified tech talent – Technology is advancing at a rapid rate. Although tech skillsets are evolving quickly, there aren’t enough candidates training fast enough to have an abundance of tech professionals with the skills companies need today. BLS predicts employment growth in IT occupations to grow 13 percent from 2020 to 2030, faster than the average for all occupations, adding about 667,600 new jobs. Demand will stem from greater importance on cloud computing, ample data storage, and cybersecurity. Hiring in cybersecurity is growing three times faster than other IT domains, and NY Times predicted that by 2026, the cybersecurity market with be worth $270Bn.
2. Experience over degrees – Unlike other professions where a degree determines qualifications, IT professionals may pursue degrees in different fields such as math, chemistry, and computer programming, among others. Because of this, hiring based on demonstrated experience over a degree has become an overall trend in the IT space. In a 2020 survey by CodinGame, 35% of developers surveyed consider themselves self-taught, and more than 1 in 3 developers learn to code on their own.
3. Hiring for culture fit – we’ve all heard this phrase extensively, and it’s because studies have shown that corporate culture influences creativity, productivity, value, profitability, and growth. In the tech industry, where many individuals work on their own, often remotely, and with flexible working hours, feeling aligned to the company’s values can be the difference between staying or leaving a job.
4. Shortening the hiring process – employers often take too long to review multiple resumes, interview candidates, and draft offer letters. With a shortage of tech talent and the growing demand for candidates, employers need to structure and shorten the hiring process to keep the best talent from slipping away. Assessing candidates remotely has never been easier so don’t allow candidates to drop off the recruitment cycle if you think they are a great fit. Move fast and make sure the candidate experience is a great one.
5. Retaining employees – With a surge in hiring within the IT industry, companies find themselves competing for the best candidates. This “war for talent” is forcing companies to create robust benefits packages that value flexibility and autonomy to retain their employees. Other ways to retain tech talent include creating opportunities for additional learning, communicating career paths, and promoting work-life balance.
Growth in the IT job market will continue mainly due to increased digital initiatives, the need for cybersecurity experts, and other e-commerce activities. If your company is looking to hire tech experts for temporary projects or permanent roles, Cordia Resources’ IT recruiting team can help you find the best candidates for your roles. Let us help you recruit and retain your employees. Explore our IT staffing solutions.