Shifting to an Employer Driven Job Market
An employer-driven market is one where there are more qualified candidates than job openings available. Employers are at an advantage in this type of market because there is a strong talent pipeline and negotiations for salary, benefits and perks are essentially eliminated.
In a recent survey, employers believe the labor market recovery will take longer than first anticipated. Companies are projecting hiring will not return to previous levels until after July 2021 and for some companies there may be no return to business as usual. Employers are optimistic that they can bring furloughed workers back full-time or with reduced hours. Some employers are implementing salary reduction measures for executives, upper, and middle management staff just to try and survive the downturn in business.
IT organizations remain cautious on spending, limiting new projects and focusing efforts on current projects that can provide high impact. A recent Gartner report projects IT spending will fall by more than 7% in 2020 due to cost controls amid the coronavirus pandemic. In 2021, Gartner projects that IT spending will grow to $3.6 trillion, a gain of 4.3% from this year. Many companies are taking this time to assess their teams, part with low performers and replace these employees with new talent.
Consider hiring contract staff if you need to fill short or long-term work requirements. Here are some of the benefits:
- Hiring costs are paid by the staffing agency
- Save time reviewing resumes and screening candidates
- Save cost of employee benefits and payroll taxes
- Highly skilled contractor can get the job done faster
- Expertise in working with remote and on-site teams
- Save on training costs
DCS has over thirty years of recruiting and consulting experience with Healthcare, Business, and Government IT. We have some of the best seasoned recruiters in the business with expertise in our business verticals, as well as an extensive database of candidates. Give us a call at 800-345-1275 and experience the DCS Difference.
Contributed by: Amy Noel