Staffing Industry Analysts recently released their December 2014 U.S. Growth Assessment: Information Technology Staffing which contains in-depth analysis on the growth drivers and relevant stats for the IT staffing industry. When you have a half hour to dive into the report, it’s worth the time to review, especially as many of us are still finalizing 2015 planning (yes, it is mid-January). In the meantime, I highlighted three of the most telling stats from the report and potential marketing implications for 2015. How did you interpret these stats? What marketing efforts are you focused on to take advantage of the industry momentum headed into 2015?
|7%||7% is the projected year-over-year growth rate of IT staffing in the US in 2015With the IT staffing market projected to experience a 6th year of continued growth, expect more competition and new entrants.
Marketing implications: Conduct a competitive audit as it relates to messaging. Why would someone choose you over your competition? Define your differentiators and ensure everyone in the organization knows what makes you the best at what you do.
|2.9%||2.9% is the unemployment rate for “computer and mathematical occupation category”If you thought it was tough to find candidates before, get ready for more (legitimate) pushback from your recruiters. For many in-demand technical positions, the unemployment rate is well below 2%, while the national unemployment rate in November 2014 was 5.8%.
Marketing implications: Consider shifting resources to candidate-specific marketing efforts, both for acquisition and retention. For example, you have candidates that you’ve taken the time to recruit, interview and get placed with your client. You’ve invested so much time and energy into these candidates, why not proactively market to them a few months BEFORE their assignment is over? Many firms are lacking a nurturing program that keeps your brand top-of-mind with candidates throughout their assignment and encourages loyalty. Marketing and recruiting can partner on timing this outreach – so candidates receive a personal note from a recruiter, as well as a touch point from the company. And don’t forget candidates you screened and were interviewed but not placed. As The New Yorker reports, top programmers are already getting talent agents. You need to get creative – and fast – and your existing candidate base is the best place to start!
|41%||41% is the percentage growth of IT employment from 1999 to 2013This stat is even more impressive in context of the growth rate of total nonfarm unemployment during this same time period which was 3.3%. Congrats on selecting a great industry! However, as noted above, with these type of growth numbers, you can expect more competition.
Marketing implications: Make a plan! It’s easy to make excuses about not having defined marketing strategies when you continue to see growth. However, are you putting in place the strategies, tactics and technology to drive sustainable growth as the industry continues to grow, new competitors enter and they double-down their investment to take your market share? If you’re building your firm for the long haul (or want to attract investors quickly), ensure that you have a marketing plan that is aligned to your business goals to drive results.