Companies are investing more in technology and this has increased the demand for tech talent. It is common for tech candidates to research companies to determine the best they could apply to. One of the ways to learn more about a company is through reviews like King Kong reviews from its own employees.
Based on The Wall Street Journal reports, there are about 918,000 IT job vacancies among US companies in the last 3 months. The reason for the unfilled tech positions is the increase in investments in technology to drive business initiatives.
According to Mehul Patel, CEO of Hired, a tech recruiting site, almost every company whether it is Capital One, Disney or American Express has to hire tech talent. But while demand for tech talent has increased significantly, job postings in the tech sector has only risen by 32% in the 1st half of 2019 compared the same period last year.
There is still a major gap in the talent pool even if 60,300 people graduate with a computer science degree every year. There are at least 20,000 developers who have completed coding bootcamps and 85,000 with H-1B visas to fill tech vacancies with international talent and yet, the biggest talent crunch can be found in the tech sector.
Recruitment for tech talent has become competitive and companies have to spend more time and resources to recruit top candidates. The 2019 report from iCIMS, a recruitment software provider reveals that companies require an average 55 days to fill out a tech vacancy in 2016; the number has jumped to 66 in 2019.
The longer the vacancies are unfilled, the more costly it becomes for companies because of lost revenue per day. Companies have to retrain current employees through internal mobility programs to solve the tech shortage. It has taken longer and harder to find qualified applicants.
In their effort to recruit tech talent, companies post their job vacancies in sites like Indeed. However, skilled talent usually research companies through reviews and ratings like King Kong reviews to gain an insight on the company culture before submitting the resume. Top talents usually seek for work-life balance, job security and opportunities for advancement.