New 2014 Research: IT Candidate Shortage Changing Hiring Terms
Considering the significant shortage in talent in information technology job vacancies, IT professionals are in the unique position to set the terms.
Of the IT professionals surveyed, 40% were actively seeking new employment. IT candidates will frequently interview with three to four companies at the same time.
Fifty-three percent of IT firms surveyed have open positions for which they can’t find candidates that meet both the stringent skill specifications in conjunction with constrained compensation budgets.
Two independent surveys show, employers are focused on hiring candidates with the best fit of information technology skill sets, and offering significantly less than competitive compensation.
Conversely, IT professionals are seeking increased compensation, and the best culture that fits their lifestyle. They want a package that includes the freedom to work from home and additional personal and vacation time off.
CultureFit Technology Staffing, a Chicago area IT placement firm, conducted a national survey of over 300 IT professionals. The survey showed major gaps between the salaries and benefits offered and what is considered acceptable by candidates.
The responses were compared to a recent Harris poll sponsored by CareerBuilder, surveying 240 companies, showed that 80% of IT employers believed they were not offering competitive compensation, and 60% believe they’re requiring too much specificity in technology skill sets.
The CultureFit survey also revealed there’s an opportunity for hiring organizations to create a more competitive offer package that includes work-home flexibility, in conjunction with a generous vacation/personal time benefit, with nearly 50% of respondents indicating they would find this attractive.
Eric Edelsberg, staffing director and principal of CultureFit, stated, “If you want the best…. you’re going to have to increase the compensation regardless of what existing employees are making.”
For a complete copy of the survey CLICK HERE
About CultureFit Technology Staffing
CultureFit Technology Staffing created a process to recruit candidates that fit into the company’s culture first, and can provide the technology skills needed. An outstanding candidate may come from the same industry, the same size team or organization, and a similar reporting structure and corporate values. CultureFit placed new hires have greater job satisfaction, be more successful, and stay with their employers for longer periods.
For additional information, please contact:
Christine Feeley, Managing Partner