IT Hiring Plans on the Upswing With Job Security Strong for 2014: Dice

IT Hiring Plans on the Upswing With Job Security Strong for 2014: Dice

by Nathan Eddy

IT Jobs Market Continues to Improve

Nearly three out four respondents (73 percent) said they plan to hire more technology pros in the six months ahead. In the latest study, 24 percent of those polled said their additional hiring would be substantial, compared with 19 percent who responded that way at midyear.

Compensation Demands Get More Competitive

Three-quarters of the hiring pros surveyed cited pay as a reason for tech veterans leaving their current employer, suggesting compensation continues to be the foremost driver moving tech job candidates to quit their current positions. Money isn’t everything. Dice President Shravan Goli said some employers might find that their technology professionals really want to work on particular types of projects or want a specific collaboration structure.

Counteroffers Are Up

More than four in 10 respondents (41 percent) report seeing an increase in counteroffers from existing employers, up from 39 percent six months ago, Dice finds. Turnover is above average for the first time since the recession according to government statistics pointing to the willingness people have to change jobs. Finding qualified employees in some fast-growing markets such as mobile is challenging.

Year-End Bonuses, Timing May Influence Departures

Slightly more hiring managers and recruiters (34 percent) are seeing candidates turn down job offers, compared with the number at midyear. Goli said this could be due to timing; most bonuses are handed out before February.

Finding Qualified Applicants Is Hard

More than half of America’s hiring managers and recruiters (58 percent) reported positions were vacant, because the salary guidelines for the position weren’t hitting the mark. “Employers are holding out for the right candidates in technology,” Goli said. “On any given day, there are nearly 80,000 jobs listed on Dice.”

Voluntary Departures Rise as Confidence Grows

An uptick in voluntary departures is a sign of a healthy economy and that tech professionals are confident about their career prospects, Goli said. In fact, 42 percent of corporate hiring managers reported an uptick in voluntary departures during 2013, up from 33 percent who said the same thing at midyear.

Layoffs Slide as Workplace Security Improves

Three-quarters of hiring managers reported no likelihood of layoffs within their organizations over the next six months. That’s up from 65 percent who made the same prediction in June of this year.

Tech Unemployment Remains Low

Low unemployment is another indicator of security in the workplace. Dice’s tally of government data shows that the overall unemployment rate for tech professionals is 3.3 percent, well below the national average.

New York Is Tops, but Smaller Cities Also Beckon

New York City is the top tech market on Dice, and the benefit of working there is the sheer number of opportunities. A smaller yet no less vibrant city that’s been making a mark this year is St. Louis. In March, Dice named St. Louis the fastest-growing city for tech jobs, and Missouri was the second fastest-growing state according to government data.

Advice to Applicants: Use Resume Keywords

Resume keywords should reflect job hunters’ industry knowledge and technical skills, Goli said. “Worked on Wall Street? Make sure ‘financial Services’ is a keyword in your resume. Helped … on a project for PayPal? Make sure ‘e-commerce’ and ‘retail’ are included. Keywords are your friends,” Goli said.