Are you struggling with finding qualified employees? You are not alone, as the National Federation of Independent Businesses found that 42% of small businesses face a scarcity of well-trained, knowledgeable job candidates. While there may be issues with skills and training, part of the problem is that technology trends impact the availability of certain skilled workers in the marketplace. The following three trends are expected to remain strong for at least the next 5-10 years.
- The Internet of Things (IoT) will result in a high demand for data analysts and IT experts. The Bureau of Labor Statistics(BLS) notes that operation research analysts are going to enjoy a 30% increase in demand by 2024, with information systems managers looking at a 15% increase over the same time period. The IoT offers numerous benefits to businesses, and many will be expected to capitalize on the insights made available by the data generated by these devices. Analysts will be needed to make sense of all the new information, and IT experts will be needed to develop and manage the networks that go along with the IoT.
- Security. Safety is always in style, but the BLS expects that hiring for cyber experts will rocket up 18% by 2024. Symantec has estimated that there will be 6 million information security (infosec) positions created by 2019, but that only 4.5 million have a hope of being filled. There are a number of factors affecting the increase in the need for infosec experts. Most cyber thieves understand that businesses are not investing heavily in securing their system, so they will continue to target the low-hanging fruit. Some hackers have become quite sophisticated in their approach, so simple security measures, like changing your password every once in a while, may no longer provide enough protection. Most companies will need at least one full-time security expert to fend off attacks.
- The rise of the machines. It’s not just a movie title anymore: robots and machine learning are gaining momentum as advances in software development and mechanical systems improve. For now, most of the robots are industrial, with 2015 seeing a 12% jump over 2014 (248,000). Machine learning is basically the type of AI we have all come to expect—a program that can learn independently. A broad range of experts will be needed to support growth in this area. For example, BLS notes that information research scientists will see an 11% increase in demand as more companies take advantage of advanced analytics and robotics.
Getting Ahead of the Curve
Competition for qualified candidates is always fierce, even when hiring trends are in favor of employers. However, there are some steps employers can take to ensure that they are not only attracting the best candidates, but also keeping them. First, employers should consider current market rates to help determine salaries, but not be tied to them. After all, local hiring ecosystems vary. With that in mind, however, qualified candidates typically understand what their skills are worth, so initial offers and benefit packages should reflect the market conditions. Second, the hiring process should be easy to understand, transparent, and fairly quick. Showing candidates that you value their time indicates that you will also value them if they decide to join your team. Finally, employers should consider strengthening their employee referral programs. Studies have shown that employees who are referred by current employees or people who are very familiar with the company are more likely to stay at the company and have a higher productivity than other types of employees.
Technology trends come and go, but hiring remains a pivotal issue for any business. Your company’s success hinges on finding the best candidates who fit in with your culture and teams. While it may not be possible to fill all positions with referrals from current employees, there is no need to simply run ads in a local paper and hope for the best. Partnering with an experienced recruiter with ties to the industry and community can ensure that the applicants who appear for your interviews are qualified and chosen for their ability to fit in at your company.
For more information about technology trends that are affecting hiring or for assistance with hiring, please contact us today.
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