TopLine Strategies announced today that its shareholders and associates joined Wipfli, one of the top 20 accounting and consulting firms in the United States, effective June 1.
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Organizations have been rapidly modernizing their legacy application and platforms. To be responsive to these demands, technical role hiring has accelerated. Human Resource teams are becoming overwhelmed with the task of attracting top tech talent in a labor market where the statistics are demonstrating zero effective tech unemployment and high candidate demand.
When a search to fill a technical position has resulted in finding the candidate that fits your firm’s skill requirements and culture, how can you be sure your offer will effectively compensate this qualified candidate? Offer too little, and you will either lose the candidate or de-motivate the new associate or your firm will be vulnerable to a relentlessly demanding technical labor market. Pay too much, and your budget is under pressure. If this decision is handled poorly, it may also introduce salary compression issues that de-stabilize the existing team members.
It’s the start of a new year, and many working professionals are involved in high-profile capital budget initiatives. One interesting, trending stat is companies across the U.S. are deploying record levels of CapEx budgets on technology. Critical technology projects require talent to drive these efforts to measurable success. Therefore, the search is on for well-qualified candidates interested in challenging opportunities with a new company.
Companies are looking for top technology talent with the skillsets to drive transformative initiatives. However, the technical professional labor market has arrived at the point that the demand is substantially higher than the skilled professional supply. Gartner research underscored the market imbalance when it found 70% of tech employees have not mastered the skills they need for their current role, and 80% need to grow their skillsets for future career success.
Research has found that 30% of employers are looking to grow their IT departments next year. Similarly, 25% of IT professionals intend on looking for a new job in 2019. This upcoming year will continue the trend from past years where low employment and in-demand skill sets will mean high salaries for qualified professionals as employers are hungry for top tech talent. As a result, there is a growing focus on skillsets to stand out in this already competitive market.
It is important to set your company up for success when making hiring additions to your team. When seeking a technical and cultural fit, it is also important to choose candidates with a clean record. Conducting background checks on candidates can limit unethical practice from entering your company. It is becoming common for companies to decide to add a background check to the hiring process and elect that an offer is contingent on a successful background check and/or drug screen.
Today’s IT department must not only be skilled in their craft, but also work regularly with both internal and external customers. Is your IT team prepared for this new trend?
Time is money in the world of hiring. The difference of a few days could mean the difference between your perfect candidates being available for hire or no longer on the market. This is especially apparent when recruiting technical candidates who are currently experiencing heightened interest in a demanding labor market. Any opportunity to further integrate your hiring process is beneficial to your hiring team.
If your hiring team is only actively reaching out to candidates who are seeking a new position, you could be cutting out 85 percent of the workforce. A recent survey showed that only 15 percent of the global workforce is fully satisfied with their job. Of that 85 percent not fully satisfied, only a portion are seeking new opportunities. 85 percent of candidates that may be interested in your position are not at the moment activity looking. We call these interested candidates “passive.”