IT Hiring slows from record-setting pace - Hiring still positive but growth in the job market for IT Pros slows according to Janco
June 10, 2019 (PRLEAP.COM) Business NewsPark City – UT – Park City, UT - https://www.e-janco.com – The IT Job Market, though still rising, slows as some uncertainty creeps into the overall employment picture. Where last year CIOs and HR departments were adjusting salaries and benefits to attract new employees, currently they do not have to. Even though there still are more position openings than qualified professionals available to fill them, the candidate pool is large enough for recruiters to find qualified candidates. Janco has seen a slight increase in attrition rates due to more active recruiting and the compression of pay grades for some key positions.
The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, "Overall hiring for IT Professionals is still at a record-setting pace. However, the rate of increase in the number of new IT positions is slowing. There have been 34,600 new IT Jobs created year to date. That is 1,800 fewer new jobs that were added when compared to the same five-month period of 2018." He added, "A number of CIOs we interviewed, as part of the release of our Mid-Year 2019 IT Salary Survey, voiced a note of caution. They were not quite sure what the impact of the looming trade wars will be."
The CEO added, "The overall growth in the IT job market has been in the computer systems design sector which has added just over 95K new jobs in the last 12 months. We see that growth continuing with the bulk of those positions having to do with eCommerce, Internet customer, and supplier facing systems, and blockchain / distributed ledger processing. The bottom continues to fall out of the telecommunications market as automation takes hold. In the last 12 months, the number of telecommunication jobs has decreased by over 37K. Telecommunication jobs are about 20% of all the total IT job market, two years ago those positions made up 22% of the total IT Job market."
Blockchain and distributed ledger processing continue to be in high demand. In a review of compensation for 12 comparable Blockchain related positions at several enterprises, Janco found that 10 of the positions surveyed had median salaries over $100K. The two positions that did not reach that threshold, were ones that have been around a while and are just now seeing the impact of blockchain. A Manager of Blockchain Architecture commands a median salary of $142,000, a Project Manager Blockchain is at $120,000, a Blockchain Analyst has a median salary of $123,500, and a Blockchain Developer commands $127,000. All at the upper end of salaries for IT Professionals. See Blockchain Salaries.
Mid-Year 2019 IT Salary Survey and IT Hiring Kit Update Released
To simplify the recruiting and staff retention process, Janco has just released its updated IT Hiring Kit. The kit includes: 1) Interview Hiring Guide with sets of best practices, questions to ask and not ask, background check process, screening, and interview process; 2) latest IT Salary Survey; and 3) 300 IT Job descriptions from CIO to Blockchain Developers. Also available is an update subscription service for a 1-year to a 2-year time period.
The CEO said, "With the current growth of the IT job market and most enterprises planning on expanding the impact of technology on both external and internal operations, the outlook for IT professionals continues to be the brightest it has been in several years."
Janco is an international consulting firm that follows issues that concern CIOs and CFOs. The firm publishes a series of IT and business infrastructure HandiGuides® and Templates including a Disaster Recovery/Business Continuity Template, Security Template, IT Job Descriptions, and its semi-annual IT Salary Survey.