Carmen Bryant, Director of Employer Insights Americas at Indeed, talked about the seven trends shaping the US market for talent.
Bryant began her thought leadership presentation at the 2017 Chief Information Officer Leadership Forum held on June 6 in New York by stating she’d be talking about the future of work and how the Internet economy is reshaping the markets for talent. “The greatest economic inflection points of the past 200 years were driven by technology—from the invention of the railroad to transport goods in the 1830s to ubiquitous computing and software proliferation in 2017. Each economic inflection point is a talent inflection point as well,” she stated.
Bryant mentioned there are seven trends shaping the markets for talent, and she’d be focusing on the first four. The first trend is that, in the US and other industrialized nations, every company is becoming a tech company. “Increasingly, software is a core part of every industry and a key driver of innovation, and we see this in every industry. Stack Overflow did a developer survey in 2015 and found that the majority of software developers don’t work for software firms—only 25% of developers work for software firms globally, and only 7% work for these firms in the US,” she said. “In the US, among the most difficult positions to fill are in the area of software. The projected change in demand for software developers between 2014 and 2024 is 17%, but the supply of software engineers isn’t growing at this rate.”
“Increasingly, software is a core part of every industry and a key driver of innovation, and we see that in every industry.”
The second trend is that specialized software is leading to a highly specialized workforce. “Industry and role-specific software experience is increasingly a requirement of any job. Even roles that are traditionally focused on soft skills—for example, a maître d—now require technical skills. The proliferation of apps is contributing to the increasing need for specialized talent. We need to assess what’s required to do a particular job because there may be someone in another area that could do the job,” advised Bryant.
“Industry and role-specific software experience is increasingly a requirement of any job. Even roles that are traditionally focused on soft skills—for example, a maître d—now require technical skills.”
A third trend is that today’s labor market is becoming two separate markets—one for highly skilled, highly specialized workers and one for everyone else. “The challenge is to help more people participate in the high-demand portion of the economy. To do this, we can build relationships with schools and universities, and we can get more creative with what kind of degree a person has when we’re considering hiring them, and be more inclusive,” she said.
“The challenge is to help more people participate in the high-demand portion of the economy. To do this, we can build relationships with schools and universities, and we can get more creative with what kind of degree a person has.”
“Full-time jobs are being replaced by more flexible alternatives. That’s the fourth trend,” said Bryant. “After pay and location, flexibility is the most important requirement for job seekers in the US. Searches for flexible work arrangements continue to grow. The percentage of software developers that work remotely, at least part time, is 29%, up from 21% a year previous. At least half of software developers state that working remotely is at least ‘somewhat’ important.”
The last three trends shaping the markets for talent are:
• Labor is a national asset that’s increasingly mobile.
• Smart companies are following talent around the world.
• The Internet is changing the way people look for jobs, and over 90% of people search for jobs online.
Bryant outlined these four implications of the seven talent trends in the US:
• The skills shortage is permanent and will require education, policy, and immigration changes to keep up with growing employer demand. “We need to be more creative in who we consider for our jobs and think outside the box.”
• Many chronically unfilled roles drive either revenue or innovation for US-based companies, creating a potential drag on national competitiveness.
• The US is a top world destination for talent which, in the Internet era, can be a foundation for job creation and economic growth. “We need to think about how to get that talent into our companies.”
• US companies can attract skilled candidates by providing more flexible work arrangements.
ABOUT CARMEN BRYANT:
Carmen Bryant is one of Indeed.com’s go-to people for telling its story to the market—on stage at events, during industry-wide webcasts, and in conference rooms at the largest companies. As both a product and customer expert, Carmen also works closely with Indeed’s sales force to help develop effective, account-specific, go-to-market strategies. Carmen was previously at NBC Universal where she led the trends and insights practice for the Content Innovation Agency including oversight of The Curve, a trends and insights brand that examines consumer culture. She’s also held positions at Essence, L’Oreal USA, and Philip Morris USA.
She currently resides in Brooklyn, NY with her family.