The data generation and generation sectors are dynamic, constantly evolving and lucrative fields for both staff and businesses. Despite the wave of layoffs in the generation sector, which has accounted for almost a share of a million job cuts since 2022, IT positions remain among the most in-demand in the global labor market, according to the recent survey carried out by ManpowerGroup. Although those sectors are booming, they are facing a skills shortage of late, with shortages of specialized staff in IT, knowledge science and cybersecurity.
To learn more about the evolution of the technology project market and the workforce in general, I spoke with Ger Doyle, director of Experis U. S. , a staffing company that is part of ManpowerGroup, a Fortune 500 company.
Doyle has extensive experience in computer science and engineering. He began his career as an engineer and has held various leadership positions globally, including chief information officer and leadership positions in several high-profile organizations.
Part of the recruitment provided through Experis includes the supply of qualified IT professionals on a temporary and assigned basis to meet the wishes of its corporate clients, as well as permanent recruitment placements with qualified candidates. The company also provides expertise in managing business-critical IT tasks by implementing new solutions.
Doyle is cautiously optimistic about the labor market as a whole, but expects it to stabilize in the second half of 2024. As inflation eases and interest rates begin to fall, he expects businesses to want to hire more. “As we move into the second part of the year, we’ll see confidence return to the market and we’ll start to see a rebound,” Doyle said.
While he is “cautious” about the hard labor market and the economy, he is positive about the technology sector despite ongoing layoffs. According to Doyle, demand for technology personnel is strong in the US and there is expansion outside the gates of Silicon Valley, with technology and IT centers emerging in Austria, Peru, South Africa, Greece and Guatemala.
The labor market has experienced significant ups and downs in recent years. Doyle highlights the demand for IT skills and specialized virtual skills. “Seventy-six percent of IT employers report suffering from the skill they need,” he added, citing knowledge of ManpowerGroup’s Global Talent Shortage 2024 report.
Tech layoffs may make headlines, but real-time insights tell a more nuanced story.
Despite widespread workforce reductions, the outlook is obviously positive for those seeking opportunities in the technology sector. According to the company’s Employment Outlook Survey, corporations in the IT sector recorded the most favorable prospects for the sixth consecutive quarter.
Their studies found that employers in the U. S. (34%) reported the most powerful hiring intentions of any region in the second quarter. Globally, the most positive outlook for the IT sector (51%) was reported through U. S. employers.
In many cases, the same corporations that lay off staff continue to hire. They only focus on hiring to meet demand. This year, several giant corporations that have discounted have also announced plans to divert their investments into generative AI and automation.
Although AI is in its “hype” stage lately, Doyle doesn’t see many benefits from it. However, he said the proliferation of AI co-pilots will drive expansion and momentum.
“Things are going much better now in the first quarter of 2024 compared to the first quarter of 2023,” said Dan Bentivenga, senior technical recruiter at Innova Solutions, in an email interview, reflecting on a “healthier” task market than the “healthier” results than 2019 and previous years. . . « The market we saw between 2020 and 2022 is simply not sustainable. “
“Recruiting the government is not easy and requires more time to locate the most productive candidate imaginable,” he warned of the existing employer market. “This leads to more intense interviews and longer periods of time between comments than most of us are used to. »
Bentivenga explained that there is a very broad demand for individual technical contributors, adding software, data and cloud engineers. “Companies need to streamline, eliminate levels of control, and prioritize individual taxpayers, especially engineers. “
The U. S. Bureau of Labor Statistics estimates that jobs for cybersecurity analysts and software developers are expected to grow, outpacing the average expansion rate, indicating sustained demand for generation workers.
There has also been a shift in hiring in the tech sector, as those jobs move away from giant tech companies, which in the past were lifelines against volatility, and toward “small and medium-sized businesses,” according to Richard Wahlquist, CEO. of the American Personnel Association.
Demand for technological capabilities can also be found outside the industry. “Virtually all of our verticals (banking, monetary and healthcare) have needs here,” Bentivenga said.
He suggested that employees hire staff as an option to classic full-time employment because it’s an excellent “foot in the door” for Fortune 500 companies. “Many candidates are hesitant to outsource, but I urge them to give it a try,” said the technical recruiter. “There are far fewer candidates in the recruitment sector, as it is evident that everyone needs to be hired full-time, which means there is much less competition. In addition, interviews are sometimes shorter and the proposal time is sometimes faster. So if you’re actively looking and haven’t had much luck in your search, it would open the door to contract opportunities. They could land you.
A community. Many voices. Create a free account to share your thoughts.
Our network aims to connect others through open and thoughtful conversations. We need our readers to share their perspectives and exchange ideas and facts in one space.
To do this, please comply with the posting regulations in our site’s terms of use. We summarize some of those key regulations below. In short, civilized.
Your message will be rejected if we notice that it appears to contain:
User accounts will be blocked if we become aware that users are participating in:
So, how can you be a user?
Thank you for reading our Community Guidelines. Please read the full list of posting regulations discovered in our site’s Terms of Use.