Since September 2013, IT employment has grown by 3.6%. Though that number is staggeringly impressive, most of it is due to booming growth earlier this year, which seems to have tapered off a bit. At a mere 0.1% growth in September 2014, IT job growth has yet to stop, but it’s certainly slowed down. Why?
A combination of factors like international issues and stock market instability may have encouraged some Information Technology employers to hold off on adding employees.
More likely, though, this is a result of the ever-increasing IT talent shortage. With fewer qualified candidates available to fill new IT positions, employers are finding it more difficult than ever to fill their available roles, which can be incredibly discouraging to employers who are dead-set on finding an exact fit rather than finding potential. When all criteria for a position isn’t met, many IT employers are ignoring candidates completely who, with a little bit of training, would fit in well at their organization.
Another element to the slowing growth could be that the market is in the middle of a change. Emerging areas like renewable energy, big data and cyber security are emphasized while older technologies have begun to fall out of use. This flux requires companies to focus on retraining employees and pivoting their business, which may contribute to the slow down in IT hiring. begun to fall out of use. This flux requires companies to focus on retraining employees and pivoting their business, which may contribute to the slow down in IT hiring. Particularly in green energy and cyber security, employers are looking for candidates with diverse skillsets that may not exist without training initiatives.
Particularly in green energy and cyber security, employers are looking for candidates with diverse skillsets that may not exist without training initiatives. For example, some solar companies will want a blend of software development and power electronics experience. Pulling from the existing pool of software developers with power electronics experience would leave them hopelessly limited. Instead, training will prove to play a key role in filling available positions and building their IT team. As always in IT, there are emerging technologies, like the Internet of Things, that will bring revitalized IT job growth if handled correctly.
Mark Roberts, CEO of TechServe Alliance insists that, “while we are not on the torrid pace of adding IT and Engineering jobs like earlier in the year, I remain very bullish on the future prospects for strong growth in [IT and Engineering] in both the medium-term and long-term.” This optimism is not misplaced! IT organizations are projected to grow exponentially through 2015 and beyond, despite immediate growth’s slight slow down.