Not every talent acquisition expense is set in stone. Certain costs, like salary requirements and benefits, almost have a minimum buy-in due to the competitive nature of the talent market. Other expenses relating to the actual hiring process allow for more wiggle room, if business leaders know which processes to streamline and where the average cost per hire can be cut down. There are several ways to lower the average cost per hire in a market where compensation shows little sign of slowing. Continue reading
Are your hiring tactics up to snuff? The signs of trouble are often subtle, but the effects are hard-hitting. That is why we recommend you use the following situations as an advance warning that your hiring process is in jeopardy. Otherwise, you risk a loss of revenue, productivity, and your reputation once the damage has already been done.
The Denver IT market is finally getting its dues. Back in February, Information Week and Dice partnered up to release their list of the hottest cities for IT professionals and Denver was in the top 10. That’s no surprise to people in Colorado.
According to Dice, the average annual IT salary in Colorado’s capital is $94,940, which is eighth highest in the country. But where is the Denver IT job market expected to go from here? Continue reading
If you’ve tried to hire an IT professional in the past six months, you may have noticed it more challenging than before. Maybe you found the right person but they accepted another position before you could extend an offer. Or it could be that they started your job but left half way through the contract for another, “better” position. Two market trends have been the largest contributors to this occurrence:
1.) The IT job market continues to steadily grow, having expanded 31% in the last 15 years.
2.) The unemployment rate in IT is 2.3%.
The increase in technology jobs in the market along with a low number of IT professionals looking for work has made it harder to find IT talent today. Additionally, the Information Technology and Innovation Foundation found that 48.3% of college students that initially enrolled in STEM programs are changing their minds and pursing non-STEM related fields.
It seems the only guarantee in life is that nothing stays the same. Look back a few years and candidates were at the whim of those scarce few companies hiring. Now, as approximately 54% of employers look to hire full-time, permanent IT employees, we see a reversal in favor of a competitive candidate market. That type of shift means old hiring tactics will have to go the way of the Blackberry Sidekick.
Last year, Indeed found that if a business fails to fill an open position in the first 30 days, there’s a 57% chance that it’ll remain open for 3 months or more. That can have a serious financial impact. What’s behind that hiring inertia? We think we have an idea. Continue reading