Tech Talent Wars
Despite gloomy overall employment numbers, we continue to hear about the demand for technology talent. The talent war is in full force in places like Silicon Valley and New York City. Wired.com recently published an article showing the talent tug of war between top Silicon Valley tech companies like Google, LinkedIn and Facebook; there is a steady stream of migration between the big names. The article cites the competition for top sales people and engineers as “extraordinary”.
Silicon Valley has been experiencing strong tech sector job growth. The computer and electronic products manufacturing sector are approximately 70,000 jobs under the dot-com boom levels; but the smaller information sector (Internet service providers, web portals and data processors) exceeded the dot-com job level in May, with about 48,000 jobs. Tech hiring has extended beyond engineering to sales and marketing.
According to Tim Guleri, managing partner of Sierra Ventures, “It’s never been the case that there have been three billion-dollar-plus markets that have been created simultaneously,” he said. The leaders in these markets — mobile, social and cloud computing — “are just exploding” with both revenue and demand from customers. “That’s what’s causing hiring needs and the growth,” he said in an article in the Mercury News.
Talented candidates are often getting multiple job offers these days, a phenomenon that is surprising some hiring managers. Redfish Technology was recently interviewed for an upcoming article on the renewed war for talent in Silicon Valley. We’ve also responded to this talent war by producing a webinar on How to Close Candidates in a Hot Job Market to be held on July 26th.
Across the U.S., IT employers surveyed by IT specialty job board Dice reported that 65 percent anticipate more hiring of tech professionals in the second half of the year. Given the low unemployment rate for computer professionals and increased recruiting competition for talent, there is an upward pressure on salaries.
Indeed.com reports that “Information Technology” job postings have increased 39% since June 2010. The top ten IT job titles clicked on in descending order are: Graphic Designer, Business Analyst, Program Manager, Software Engineer, Technical Writer, Data Analyst, Manufacturing Engineer, Electrical Engineer, Systems Administrator, and Network Engineer. The top cities searched are New York City, Atlanta, Chicago, Houston, Washington DC, and San Francisco.