TechServe Alliance CEO, Mark Roberts, will share actionable intelligence on the state of the IT & Engineering Staffing industry. Drawing upon the insights from TechServe Alliance’s comprehensive benchmarking reports along with the latest monthly data from the new IT & Engineering Staffing Dashboard sponsored by CEIPAL, Mark’s presentation will address:
- The Current State of the Industry
- What Drives Enterprise Value
- Trends that Will Endure
- What Successful Firms Are Doing Now to Thrive
Join us for this informative discussion with key takeaways you can use to take your business to the next level.
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5 Key Takeaways
IT & Engineering have low unemployment rates: Compared to a national average of around 5.9% unemployment, engineering unemployment levels sit at around 3.1% and IT at 2.4%. This is great information to use to educate clients in terms of bill rates, hiring, etc. This also directly speaks to the value that these occupations offer.
The pandemic has and will continue to influence employment: From travel opportunities to vaccination mandates, there are a lot of aspects of the COVID-19 pandemic that have a direct impact on workers and therefore companies as a whole. Coming up, the OSHA Emergency Temporary Standard will influence the way businesses conduct themselves and regulate what rules they need to follow.
Labor-friendliness is increasing: There has been a significant drop in the number of H1-B denials, helping a larger number of international workers get jobs. This, paired with the overturning of the “Buy American, Hire American” policy, widens the availability of jobs for international talent. What’s more, there are going to be more modernized and flexible rules regarding H1-Bs.
COVID relief is still unknown: Many fiscal stimulus plans have been passed, but we’re not fully sure how this plays out in years to come. There are some concerns as to whether these will actually help solve the issues faced by the American people, including worker shortages, supply chain holdups, etc. Unemployed workers are at a high, and there is a mismatch between their skills and the jobs we currently need filled.
New job orders are rising: New job orders are actually up 15% above pre-pandemic levels, meaning we’re already past the decline we saw initially. Of course, when uncertainty was everywhere, folks pulled back. But now, they’ve doubled down to retain those folks who saw them through the hard times and are looking to continue to grow and thrive. What’s more, the submission and fill rates are also rising, which is what helps keep the industry viable.
“Once you have talent, you don’t want to give it up. It’s a challenging environment to find new talent, so we’re certainly seeing that stop rate decline.”