Hiring Trends That Affect Your IT Job Hunt

Silicon Valley Bank Hiring Chart

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Fearful that tech-job hiring will slow down sometime in the near future? A new survey of tech-industry executives by Silicon Valley Bank suggests that, to the contrary, there’s a lot of hiring momentum — at least in the short term.

“We see abundant potential in the pace of new company formation, global expansion and availability of capital, and in the emergence of new products and solutions that will change the world,” reads the introduction to the report, released April 28.

The survey included more than 12,000 tech-industry executives, the majority of whom reported optimism for the year ahead. Some 66 percent said they would increase their workforce this year, while 82 percent said they expected business to improve. A full eight out of 10 respondents said they sought workers with experience, especially in technology jobs, rather than hiring workers straight out of college for less money.

In even better news for job seekers, 91 percent of the executives polled said they were having trouble finding the right candidates for their jobs. Sixty-one percent said finding the right person is “extremely challenging,” while only 30 percent said “somewhat challenging.”

All this hopefulness comes from stellar financial performance. During 2013, 65 percent of the companies polled met or beat their revenue goals. Those results, combined with an optimistic outlook for 2014, translate into the addition of new full-time jobs; seventy-six percent of those surveyed also said they will increase the size of the workforce, while sixty-four percent expect to increase their headcount by more than 20 percent.

Silicon Valley Bank Hiring Chart

Companies with revenues of more than $50 million per year expect workforces to grow about 15 percent; smaller companies expect growth at higher percentage rates, though lower overall job figures. Executives based in Northern California and New York both said they expect 50 percent growth in their workforces; innovators in New England expect 40 percent growth; and those in the Northwest expect 30 percent.

Finding people with the right kind of experience has become a top challenge, according to the report. Discovering candidates with the right skills and education is a worry for 28 percent of execs, while finding people at the right salary and benefit level causes 21 percent to fret.

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Image: mstanley/Shutterstock.com
Chart: Silicon Valley Bank

Comments

6 Responses to “Hiring Trends That Affect Your IT Job Hunt”

April 29, 2014 at 3:38 pm, Robert Emminger said:

As a one time consulant. I have seen more perm positions then I have contracts, 20 to 1 litterally. Trying to get these positions is hard becuase I have been working contracts…It like all the Java and JavaScript consultant gigs have dried up and left those like me stranded. Dice, 2013, was one of the best years in my career. 2014, is the year of hell for me!

Stop feeding us trash, we as the consultant base know that these companies are hording cash and not hiring…

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April 30, 2014 at 1:55 am, T said:

Trash indeed. The “somewhat/extremely challenging” thing is because the experience they want is doing that -exact- job , in that -exact- industry, with those -exact- technologies… Preferably one desperate or lucky enough to start with a number below the “depends on experience” salary they had in mind, when it was not specified in the post, because guessing too high is instant disqualification. Too many HR folks are expecting to find someone doing the same job for the competition eager to jump ship for less money & complaining that finding the right person for the job is “extremely challenging”.

It certainly doesn’t help that there aren’t that many companies hiring for anything but a developer (if that).

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April 29, 2014 at 7:46 pm, Jeffrey L Dyer said:

I’ve noticed in the Phoenix area that tech jobs are mostly contract to start. It seems like they all say contract to hire, but few convert to perm. There are quite a few contracts available, which is good.

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April 30, 2014 at 2:36 am, T said:

Perhaps someone should tell these companies that when they are looking for things like “5+ years experiemce wirg Red Hat Network Satellite and Red Hat Enterprise Virtualization (RHEV)” that they haven’t really existed in use for that long or that people with years of experience in things like virtualization & enterprise network management tend to not be the same ones doing printer configuration & management, senior developer role responsibilities, employee desktop management through active directory, LAMP server administration, and/or asterisk configuration (pick any 3+) when they post these positions they are finding “somewhat/extremely challenging” to fill simply by virtue of trying to pretend there is a large selection of people with recent & relevant experience with 3+ specialized jobs.

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May 03, 2014 at 9:42 pm, Emilov said:

Dummy questions: What does “Hiring Trends” mean in a globalized IT job market? I would probably agree with news like this one if offshore-outsourcing had stopped. Now I agree more with the comments.
Most companies don’t want to invest a penny in training in new technologies. It’s much easier to say: we don’t have and cannot find the right people…
Anyone with some decent IT experience knows that at a new job you have to “invest” some efforts to get up to speed… if one has to keep that job for some time. Isn’t it common-sense?

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June 06, 2014 at 2:23 am, Mobile App Development Company said:

Agree with the writer and also my suggestion is do not go for an individual. If you want to hire anyone for your business or any other purpose i suggest to always hire a Company, because only companies can assure you the quality of the work.

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