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 get an overview of the fast-moving technology project market and the world at large, 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 provision 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 positive about the gig 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 corporations will need to rent more. In the second part of the year, we will see confidence return to the market and we will start to see a rebound,” Doyle said.
While he is “cautious” about the hard-work market and the economy, he is positive about the tech sector despite the ongoing layoffs. According to Doyle, demand for tech personnel is strong in the U. S. and there’s expansion outside Silicon Valley’s doors, with tech and IT hubs 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 that they struggle for the skill they need,” he added, citing knowledge of ManpowerGroup’s Global Talent Shortage 2024 report.
Layoffs in the tech sector would arguably dominate the headlines, but real-time knowledge shows a more nuanced story.
Despite the widespread reductions, the outlook is obviously positive for those looking for opportunities in the generation sector. According to the company’s employment outlook survey, companies in the IT sector published the best outlook for the sixth consecutive quarter.
Their studies found that employers in the United States (34%) reported the strongest hiring intentions of any region in the second quarter. Globally, the maximum positive outlook for the IT sector (51%) was reported through US employers.
In many cases, the same corporations that lay off other people also continue to hire. They are simply focused on hiring to meet demand. This year, several of the more sensible corporations that have enacted discounts also announced plans to redirect their investments toward 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 looking a lot better right now in the first quarter of 2024 compared to the first quarter of 2023,” Dan Bentivenga, senior technical recruiter at Innova Solutions, said in an email interview, reflecting on a market of “more” tasks. healthy” that he discovers comparable to 2019 and previous years. Array “The market we saw between 2020 and 2022 is simply not sustainable. »
“The government does not find it easy to recruit staff and needs 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 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 tech workers.
There has also been a shift in hiring in the tech sector, as those jobs are moving away from big tech companies, which in the past were lifelines against volatility, and toward “small and medium-sized businesses,” according to Richard Wahlquist. Executive Director of the American Personnel Association.
The demand for technological skills may also be outside the industry. “Virtually all of our verticals (banking, financial services and healthcare) have a demand 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.
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