If you found yourself on the job hunt, would your qualifications today hold up for a new job tomorrow? With the lightning pace of technology breakthroughs that inhibit our role in the office and the changing faces of the workforce DNA, many worry about the impending “skills gap.”
As the advent of AI, machine learning, and automation pushes the baseline standard for qualified candidates, companies are transforming their own talent and technical capabilities. After assessing the fastest growing, in-demand gigs in the semiconductor space, the implications for future positions call for skilled workers in sectors like cybersecurity, healthcare, and finance. As jobs become harder to fill, the strain of the skills gap is felt across multiple industries.
Another year, another set of hiring changes abound. Despite headwinds in 2017, the outlook for employment looks bright with a projected increase of 11.5 million new jobs in the next few years. While we expect a stunning hiring boom, changes and challenges still cut deep across industries.
According to DHI hiring indicators in the technology sectors, labor markets are tight for employers, but not for job seekers. In technology, engineering, and software sectors, most vacancy postings for skill-intensive jobs attract few applicants, while many job seekers apply for the popular, desired positions. The numbers are out there, but the hiring process is too fraught with extensive assessments, generalized job postings, consensus-driven decision making, and the chase for the “perfect” candidate. Among other elements, the hiring holdup continues to affect the bottom line for many companies and keeps operations from performing at full speed.
Amid the hiring trends and disruptions coming in 2018, hiring managers may have more on their plate than they think. Today’s labor market is changing rapidly; it’s becoming more flexible, transparent, and skills-oriented. With tech advancements impacting the future of work, job markets transform the job profiles and descriptions themselves. Coupled with scarce highly-skilled candidates, shorthanded teams, and a competitive landscape, the hiring process becomes a tricky space for hiring managers. As the average lead time to hire an engineer ranges between 28 and 100 days, there’s no formula to determine how fast or slow it takes to fill an open position.
With hiring changes ahead, there’s much to unfold in 2018. Let’s look at tech hiring trends and disruptions to expect this year and what it means for hiring managers in tech.