A couple of weeks ago, we wrote a blog post about the recovery of the technology job market, referencing positive indicators found on Indeed.com.
Well, the trend continues and it’s now evident that we’ve undergone a shift
from an employer’s market to a candidate’s market.
As few as 4 months ago, employers were at the helm. But the recovery has created a sharp spike in demand for tech talent and caused a
noticeable shift giving job seekers the upper hand. More jobs and higher quality opportunities are
great for Bay Area job seekers. People that have been out of work are finding
it easier to get interviews and there plenty of exciting opportunities for
those passive job seekers that are considering an upgrade.
But this is not rosy news from everyone. The increased activity spells trouble specifically for unprepared employers. Increased demand
creates competition and requires employers to, among other things, streamline
interview processes in order to make decisions faster. Salaries are up too. The average starting salary for a software
engineer in the Bay Area has increased nearly 3% since January. Businesses need
to make subtle adjustments to how they interview and must be willing to be flexible
when approaching compensation conversations.
Here’s evidence of a shift to a candidate’s market from the technical recruiters at GravityPeople.
1. Simply, there are more jobs available. This is
creating demand for technical
professionals in major tech centers across the US.
2. Candidates are receiving multiple offers. Other
than the sheer number of new jobs that we are trying to fill, the fact that
many candidates are receiving multiple offers is a tell-tale sign that job
seekers are in the driver’s seat.
3. Smart companies have responded to competition in
the employment markets by shortening interview cycles. At the beginning of
2010, we were seeing average interview cycles taking nearly 4 weeks. Today, aggressive employers are moving
applicants through processes that are designed to take less than 14 days.
4. Candidates, presented with multitudes of viable
opportunities, are increasingly more selective. In December 2009, very few
active job seekers would decline the opportunity to interview for regional
jobs. Today, job seekers are much more sensitive
to title, commute and compensation.