Winning the Tech Talent War
by Andy Nacsin, Executive Recruiter
In today’s economic situation, companies are facing multiple new challenges when it comes to staffing. According to Forrester Research, today’s recruiting growth rate prediction is at 8%. Many theorists believe that this is because of the looming talent shortage and disconnect between positions open and skills of candidates applying. Another factor is that companies, while emerging from recession, are still remaining cautious on spending and are very selective when acquiring talent, regardless of their growing need to add headcount. Our nationwide overall unemployment rate has been hovering around 10%, and yet when we take a closer look within technology these numbers are closer to 4%. Other considerations that are affecting this climate are employee turnover, Baby Boomers retiring, more restrictive policies on foreign workers, companies resistant to relocation costs, and overall reluctance from employees to change jobs. So our challenge is how to cope with a growing talent shortage within the high tech and green tech industries.
The battle for top sales people and engineers is extraordinary in Silicon Valley and New York – These are our Talent War battle zones. The majority of technology growth occurs in these two large geographic regions and they also typically house the greatest number of top tier talent. (more…)
To Counter Offer or Not to Counter Offer? Part 2
In part one of this article, we considered the costs of recruiting, hiring, and training as well costs of a bad hire and the opportunity costs involved when a valued executive’s departure leaves the company in the lurch. Can you avoid this hassle and extra cost? Should you making him a counter offer and keeping the team intact, the projects on time, the sales meeting on track, the product launch as planned?
Jobs Growth Anemic, yet Senior Talent in Shortage in Certain Sectors
Leading up to the BLS employment report on Friday, ADP estimated private payrolls rose 114,000 in July. The BLS figures came in 117,000 nonfarm employment and 154,000 in total private employment. Gains were seen in health care, retail trade, manufacturing, and mining; while Government employment continued to decline. Manufacturing employment increased in by 24,000, professional and technical services increased by 18,000, Government employment decreased by 37,000. The unemployment rate stayed put at 9.1% (13.9 million people).
AESC / Executive Search
According to the Association of Executive Search Consultants’ (AESC), 66% of search professionals have a positive prediction for their industry in the second half of the year. The biggest growth in demand for senior talent is in the Energy/Natural Resources sector. The United States is experiencing a “sustained resurgence of demand” according to AESC President, Peter Felix. Worldwide, the General Management/CEO/COO functions are anticipated to experience the greatest shortage of talent, followed by Business Development and then Engineering. (more…)