Reconciling Low Employment with Higher Employer Expectations
Employer expectations are at an all-time high.? Highly publicized tech layoffs and fewer job openings have only exacerbated these expectations of available talent on the market. Yet if you zoom out on the tech hiring market, the tech unemployment rate remains under 3%.? There is so little available talent, yet the expectation of finding highly skilled employees to fill niche positions remains the same. ?
It’s time to reset expectations of who is on the market.
Expectations Are Driving Lengthy Hiring Process
Employers are artificially extending the hiring process because they want to see everyone available to them.? It’s understandable after many companies had to right-size post pandemic. This time around, they want to make sure that they are making the right decision the first time. However, this quest for the right engineer, right now is creating a longer hiring process.? No one wants to make a hiring decision on the first person they have interviewed, but employers are hesitating to move forward with five, seven, or even ten applicants. This draws out the process as the first applicant has likely already started interviewing elsewhere.? Drawing out the hiring process is only hurting the search.
Layoffs and Fewer Job Openings Create a False Sense of Security
It would be logical to assume that continued tech layoffs and fewer open jobs equals more talent on the market. But this is not an accurate view of the current market conditions.? Even with tech layoffs, tech unemployment remains under 3%. And of that three percent, very few of those employees are skilled in new, high-value tech like AI, ML, Data Engineer or LLM. Any employees who are being laid off from these in-demand positions are being scooped up immediately by name brand companies with star power and deep pockets.? So, let’s make it clear; there are very few highly skilled tech workers available on the open market.
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The Competition for Tech Workers will only Continue to Grow
If you are searching for a web developer or Java Engineer, you’ll have a much easier time finding available talent. You are still competing for them, but you can afford to interview them at your pace. However, the competition for tech workers who specialize in AI, ML, LLM, and Data Engineering is heating up. You will be competing with everyone who wants to leverage this talent for cutting-edge technologies. Unless you are a household name, have deep pockets, and a flawless hiring process, your expectations need to be adjusted accordingly.? You must assume that every person you are interviewing is already in process with several other companies.
So, how do you tap into talent, get the employee you want, and manage expectations?
Curious about the talent pool for your specific position? Talk with one of our Talener team members or reach out - [email protected] .
Mobile Application Developer
4 个月"Layoffs and Fewer Job Openings Create a False Sense of Security" Wouldn't this create a false sense of insecurity?
Principal Architect DLT at DTCC | Blockchain Practice Leader | Sybal.io | Member of Expert Panel at EU Blockchain Observatory & Forum
4 个月Good article on how the employment / talent market seems to work today. As a manager of tech teams in the past, it wasn't always easy to find the perfect person with the perfect skills for a role. I would look for the best, motivated person who I thought would make a great team mate. I then evaluated what key technical skills or experience they were missing against my ideal position requirements. If I felt I could support and develop a few missing tech skills quickly by supporting them with our team and knowledge base, I'd go for the right team mate and bet I could get value from day 1 while growing their skills to fit the role. I'm sure that's not a normal approach today. As a manager I felt just like a coach trying to build the right team and train them. I was ALWAYS in the education business to create teams that could deliver the right services and value. ??