Retention of New Hires is Key in a Tight Labor Market
eJobDescription.com website is the HR for Information Technology management
IT
job market prospects are tied to overall US national employment
IT
skills are very transferable. The IT job market is tight with over 200,000
open positions due to a lack of qualified candidates. If a qualified IT
pro is not pleased with their existing position, it is not to hard to find
another. It no longer is a stigma to change jobs every few years.
The current 25 to 45 year old
IT pros, for the most part, are not tied to a particular company that they plan
on working for 20 years or till retirement. Many of them feel it is normal to
work for a year or two for a company, get the experience and training they need,
and move on to a new company - even into a new industry. Company locality
is a thing of the past. That was not the case 10 to 20 years
ago.
Covid only made the problem
worse because so many companies went out of business and IT departments were
reduced or eliminated via outsourcing. IT pros feel that it happened once to
them or their friends and will happen again. Therefore they have to look out for
themselves and change jobs when it suits them.
What companies have to do is
give employees a reason to stay. The key is to have a stable management
team from CIO down to supervisor. The focus has to be on long term team
development with a compensation and fringe benefit program that rewards
long-term loyalty.
CIO
and IT managers have staffing issues that need to be addressed
The most important aspect of any business is recruiting,
selecting, and retaining top people. Research shows those organizations that
spend more time recruiting high-caliber people earn 22% higher return to
shareholders than their industry peers. However, most employers do a miserable
job selecting people. Many companies rely on outdated and ineffective
interviewing and hiring techniques. This critical responsibility sometimes gets
the least emphasis.
States with the Lowest Unemployment -- Full Employment States
State unemployment rates continue to improve. At the start of the shutdown,
there were 14 states with unemployment rates of less than 3.5%. For the first
time since the start of the pandemic there were 14 full employment states.
In February the 14 states with unemployment rates 3.0% or less) were -
Alabama (3.05); North Dakota (2.9%); Virginia (2.9%); Wisconsin (2.9%); Iowa
(2.8%); Minnesota (2.7%); New Hampshire (2.7%); Montana (2.6%); Oklahoma (2.6%);
South Dakota (2.6%); Kentucky (2.5%); Illinois (2.3%); Nebraska (2.1%); and Utah
(2.1%).
Implications of IT job market and employer/employee relationships due to pandemic
How hard wil it be to retain and hire needed IT Pros
Questions that many CIOs and HR executives have are what
the implications to the pandemic and the current economic outlook for the IT Job
Market are. Hiring will remain brisk given there is not a major downturn in the
overall economic environment.
The experience of 2020 and 2021 have fundamentally
employer/employee relationships. The work-life intersection has new meaning.
Working from Home and remote meetings were shown to be effective but at a cost.
A recent Gallup poll found those who prefer remote work now cite reduced
commute times and better work-life balance as the key component of the
employer/employee relationship and job requirement.
The 2022 edition of all the components of the IT hiring Kit has been
released. It contains:
Latest IT Salary Survey - The salary survey draws on data collected
throughout the year via extensive Internet-based survey instruments and
completed survey forms from businesses throughout the United States and
Canada.
Salary Survey Job Descriptions The job descriptions are provided as a 206
page indexed PDF document for all of the positions surveyed.
Interview and Hiring Guide Includes two electronic forms (Background Check
Authorization and Interview Questionnaire) and three full HR job descriptions
(Manager Human Resources, Human Resources Specialist, and Human Resources
Generalist).
The Manager AI helps implement infrastructure that advances the strategy for
AI and ML across the enterprise. The Manager AI is a thought leader on the
application of AI in the enterprises industry, with an initial focus on guiding
engineering processes for the safe, effective, and ethical implementation of AI
and ML.
The Manager of Artificial Intelligence and Machine Learning is one of the
hardest positions to fill today. Based on our Salary Survey data the national
median salary is $134,100. The overall salary range is between $96,500 to
$279,000.
Shortage of IT job pros limiting CIO technology implementation
plans
According to a several reports, CTOs are seeing a talent shortage as the
biggest barrier to the adoption of most new technologies. This means that in the
majority of cases, IT leaders who want to deploy a new tool to boost business
outcomes anticipate that the lack of suitable workers to implement the
technology will be problematic at some point.
IT job market prospects are tied to overall US national employment
In September the number of US states that are at full employment levels (3.5%
or less) increased from 10 to 12. At the same time the number of states
that had high unemploment rates (over 7.0%) fell from 8 to 4.
An average of 13,000 IT jobs have been added to the IT job market each month
of 2021. This number could be greater, but CIOs are having difficulty finding
enough candidates who are qualified for positions that they need to fill.
CISO - Chief Information Security Officers Salaries Now Exceed That of
CIOs
With the increased focus of Internet based solutions and the increase in the
amount of sensitive data that is outwardly facing, the role of security
professionals has increased in importance. Qualified Chief Security Officer (CSO
or CISO) are in the highest demand and command salaries in excess of $150,000
per year. When incentives and performance bonuses are added, total compensation
is well into the $225K range.
IT
skills are very transferable. The IT job market is tight with over 200,000
open positions due to a lack of qualified candidates. If a qualified IT
pro is not pleased with their existing position, it is not to hard to find
another. It no longer is a stigma to change jobs every few years.
