J O B   N E W S

Finding Top Tech Talent in a Tight Labor Market

There is increasing evidence that the technology labor market is starting to tighten again. A recent analysis by InformationWeek of BLS (Bureau of Labor Statistics) numbers revealed that unemployment among IT workers was just 3.7% for the four quarters ending March 31, 2005. This is the lowest it has been since late 2001. IT employment has also been increasing during the same time according to reports from both the BLS and the ITAA (Information Technology Association of America).

Supporting this, Dice has seen a dramatic increase in job postings on the site. While Dice saw steady increases throughout 2002 and 2003, total job postings on Dice more than doubled in 2004/2005 to their current count of about 69,000. This is the highest the job count has been since June of 2001.

Together, these numbers indicate that the tech job market is indeed coming back and that IT professionals are once again getting jobs in their fields after a long spell of unemployment and underemployment.

Refined job search techniques and higher selectivity by candidates. As the economy improves and positions become more plentiful, there is a shift in how job seekers conduct a job search. To start, they become much more selective about where they post their resumes. At one time, it was necessary for job seekers to cast as wide a net as possible by posting resumes on multiple boards: now they can focus their attention on only the sites they believe will bring them the best results. And they used to be happy for every response they got: now they judge both the quality and timeliness of responses and reject those that don't meet their standards. In short, now that seekers have more choices, they also have the power to be more selective.

This is especially true for more skilled, experienced technology professionals. In fact, in a tight job market, many of the best people don't post their resumes at all. You need to post your positions so they can find you.

A tight job market affects how to best conduct your candidate searches in a number of ways:

Specialized, targeted job boards become essential. When there is time and opportunity to be selective, job seekers tend to post on sites they believe are designed specifically for their needs and their particular industry. This is especially true for tech professionals. In a recent conversation, Ray Schreyer, recruiting manager at IBM, said, "I've found that tech pros tend to hang out where other people don't-sites that the general population isn't necessarily even aware of."

Posting your open positions becomes even more important. Seekers often begin their search by applying for open positions they are interested in. If that doesn't bring the response they want, they then post their resumes. In a tight market, applying for open IT positions is often all it takes to land a job. If you don't post your positions, you might be missing perfect candidates (and losing them to your competitors).

A responsive, candidate-friendly application process is necessary to get top candidates. You can't afford to lose top candidates due to cumbersome application processes or slow response times. The better the technology job market gets, the less seekers will put up with your inefficient or unfriendly application process. Make it as seeker-friendly as possible and make sure everyone the candidate comes in contact with is responsive.

IT jobs are starting to return to full economic recovery. As technology professionals get back some of the power, make sure you are taking the necessary steps to ensure you get your share of top technology talent.