Whether you are checking the weather or kickstarting your career, being able to project what conditions lie ahead is the key to adapting and setting yourself up for success. With our forecast of the engineering job market, employers and candidates can stay in-the-know about current industry trends and look forward to brighter hiring days.
Job Availability and Demand
In the last five years, the unemployment rate decreased by almost 5 percent, but did you know healthcare, technical services, manufacturing and government sectors were among the top industries adding jobs? This is big news for the engineering job market.
Not only did software development and engineering-related positions hold the highest volume of job openings in 2015, but they also accounted for one in every 20 job openings in the U.S. The high demand for these skills signals a promising forecast for prospective candidates looking for available positions in the engineering job market.
What does this mean for our clients? Opportunity. TriMech Services specializes in the engineering and government sectors, filling positions in four of the top 10 fastest growing occupations, such as software developers, network engineers, sales managers and industrial engineers. We’re also located in the regions with the highest projected hiring rates, which include the Mid-Atlantic and Southeastern U.S.
Companies Investing in Employees
There is no doubt engineering is a growing industry, ready to embrace new talent. While higher demand may be great for applicants, it can pose challenges for companies looking to hire top talent. With increased job openings in the engineering industries, competition to get the best employees is at an all-time high. Now more than ever, it’s critical for companies to invest in resources that can help them optimize the recruiting and hiring processes.
According to LinkedIn, 59% of companies are investing more into their employer brand than last year with the hopes of improving time-to-fill and quality of hires. It’s likely that more companies will start utilizing third-party staffing services to maximize their resources. Recruiters are incorporating social networking and digital data to discover and nurture more quality candidates. In turn, this saves companies’ time and money, and it provides them with a more personalized hiring process to stand out in the competitive engineering job market.
Contract vs. Full-Time Employment
Will full-time employment still be traditional in the years to come? Some experts anticipate contract workers in America will increase up to 40% by 2020. In the past few years alone, this employment trend has become increasingly prevalent, especially in software and engineering jobs. Companies and applicants find that contingent positions provide more flexibility for niche projects and services.
This transition affects the types of roles available in the engineering job market and businesses’ in-house hiring strategies. To supplement short-term staffing needs, we might see more companies work with Engineering Services and contract employers for a defined project length.
While some aspects of the future may seem cloudy, overall the forecast for the engineering job market is bright. All of these projected changes can be attributed to growth and exciting new opportunities. If you need help connecting to the right company or candidate during this transition, TriMech Services can help. Contact us today!