The 2017 technology hiring trends are accelerating, creating both opportunities and challenges for organizations searching for tech talent. There are many factors behind the trend. Corporate executives are anticipating deregulation and lower taxes, which is freeing up both operating budgets and capital expenditure budgets. Company information technology budgets across a wide spectrum of industries are supporting higher spending to drive organizational technical excellence forward to support revenue increases.
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When a search to fill a technical position has resulted in finding the candidate that fits your firm’s skill requirements and culture, how can you be sure your offer will effectively compensate this qualified candidate? Offer too little, and you will either lose the candidate or de-motivate the new associate or your firm will be vulnerable to a relentlessly demanding technical labor market. Pay too much, and your budget is under pressure. If this decision is handled poorly, it may also introduce salary compression issues that de-stabilize the existing team members.
Just as the professional world was beginning to understand and adjust to the millennial generation, a new generation is surfacing and warranting attention: Generation Z. Similar to each generation prior, Generation Z sees the world differently and have different priorities, including how they work best. This generation consists of individuals born between 1994-2010.
What’s scarier than missing your project deadline? Not having the properly skilled people to perform project tasks with quality. The biggest challenge in the world of technology is scarcity and the competition to hire and retain top talent. The fight for talent has not been a single battle, but a long, drawn-out war.
The race for technical talent is not only a sprint for top talent, but also a marathon in terms of the length of the need. As the technology needs of companies continue to expand and as companies work to connect technology with every business function, the technical talent will continue to grow and need to adjust.