Nobody has a crystal ball to predict what direction various industries or sectors are headed in the future, or what the candidate pool will look like at any given time. However, a recent article by Human Resources Today provides insights for hiring managers, offering a glimpse of which industries and locations are expected to see a rise in demand over the course of this year, next year, and beyond.
At a macro-economic level, employment in the United States, at the end of 2016, was higher than at any point in the previous decade- with an unemployment rate hovering near the lowest it’s been in that time frame, at 4.7 percent.
Regionally, the South and Southeastern United States have the highest anticipated hiring levels, with the information technology and financial sectors among those industries projected to do well over the coming years.
Growth of Sectors
All signs point to continued growth of information technology and financial industries, among other fields like healthcare and manufacturing. If your business is in one of these sectors, your hiring will need to stay competitive.
Hiring projections support this, with an anticipated monthly demand of 4.3 thousand IT workers and 12.7 thousand employees with business and financial acumen. Given the nature of these industries, it is expected that there will be an increase in demand for workers with these specific skill sets.
Demand for Jobs
Certain types of roles are expected to see higher demand than others. For example, BLS data projects a 10.7 percent increase in the need for accountants and auditors between 2014 and 2024.
In the IT field, computer systems analyst employment is expected to rise by a staggering 20.9 percent by 2024.
Supervisors of office workers and administrative support workers are also projected to be in demand, with anticipated growth of 8.3 percent by 2024.
It will be more important than ever to be deliberate about hiring candidates to fill these types of jobs in order to find qualified personnel.
Regions Most Affected by Job Growth
The top cities for projected job growth are overwhelmingly located in the South and Southeast, with five of the top ten located in Florida.
Interestingly enough, Dallas, TX comes in at number six on the top ten list, however nearby Louisiana is home to four of the ten cities voted as the worst places for job growth.
While it’s exciting if you are hiring candidates in one of the top ten cities, it can also be maddening for hiring managers for a number of reasons.
First, when your geographic region is doing well economically, that means you’re not the only employer looking for talented candidates. The pool of candidates and applicants will be more shallow than desired. Because of this, a candidate who accepts an offer of employment is going to be more likely to receive a counteroffer from their current employer who wamts tp avoid replacing an employee.
Because your need for qualified, skilled candidates hasn’t changed, understand that if you’re in one of these regions, it’s likely going to take you longer to find the right person for the job. In competitive employment markets, working with a firm that personally meets and vets candidates can be more valuable than ever. Employers who rely on staffing companies to manage their hiring needs can free up valuable time and resources to focus on the business, which is the reason you need more employees in the first place.
Staffing Companies Can Lead You To Success
You need to be able to find and attract qualified candidates to remain competitive. Having that candidate pool is crucial to hiring, but remember that you still need to remain nimble and adaptable to the industry.
At ICS, we understand the challenges of an economy and a candidate pool that ebbs and flows. As a recognized leader in the employment industry, we are ready and able to help you find qualified candidates who can help move your organization forward. Whether you need workers who can help in accounting and finance, compliance and legal, information technology, or corporate support roles, our staffing company has you covered.
To learn more and to start working with one of our staffing offices, contact us online today.