Q1 Hiring within the Technology Industry has been electrifying. At no point since late 2000/early 2001 has hiring moved at such an aggressive clip. Is this a direct benefit to potential technology job seekers? Here is our take at Hunter:
- The War for Talent Continues: Technology skills continue to be in demand in almost every sector. The number of job openings far outweighs the number of active / passive candidates. Candidates can actually pick and choose.
- Shorter Interview Cycles: Due to the war for talent, companies are beginning to realize the age-old axiom that “time kills all deals” is true. Now they are adjusting their process. Do some companies still take too long? Absolutely. But they are consistently missing out on the candidates they want to hire, and that is forcing change.
- Highly Competitive Compensation Offers: Though there are still companies attempting “low-ball” offers, this is becoming increasingly less common. Highly skilled candidates are receiving offers that they value. That being said, companies are rarely “buying” candidates. They are offering solid raises, but not going crazy.
- Opportunity to Learn New Skills “On-the-Job”: The firms that are investing in leading / bleeding edge technologies are having a difficult time finding candidates with that have worked extensively with them. Hence many companies are sacrificing on the number of years of experience in these skills, yet still paying market rates.
- The Haves and the Have-Nots: There is still a substantial amount of churn going on in the marketplace. Yes, many companies are doing well. But there are still lay-offs occurring across many sectors. When this happens, the market is actively hiring these candidates. This is keeping tech unemployment to a minimum.
Add all of this together, and there will rarely be a better time to be a passive / active job seeker in the technology sector. If you are good at what you do, there is most likely a great job for you. If you are dissatisfied with your current firm, there are 2-5 other firms that would be interested in talking to you. If you feel underpaid, the market can rectify that.