Are you keeping up with talent supply and demand in your market? As the most recent BLS Employment Situation Report revealed, 192,000 jobs were added in February 2011 — but how many candidates are applying to those 192,000 jobs? By understanding the labor demand in particular markets and the ways in which talent pools grow or shrink depending on that demand, you can more effectively guide your recruitment strategy in terms of employment brand, compensation and overall advertising strategy.
CareerBuilder’s Supply and Demand Portal helps you be smarter by giving you real-time access to 1) the availability of active talent for any position (supply), and 2) where you will find the most and least competition for that talent (demand).
The following information from Supply and Demand Portal shows examples of hot industries where there is a growing demand in the number of workers needed to fill job openings, based on data from the last six months.
1) Nurse Practitioner: .23 active job seekers for every position
This year, the first wave of more than 70 million baby boomers will turn 65 and join Medicare – equating to approximately one every eight seconds. At the same time, there are more than 30 million newly insured Americans as a result of health care reform, driving the need for more medical services. Couple this with an increase in retail health clinics and a deficit in primary-care physicians, and you’ve got a huge need for nurse practitioners to help fill the gap.
2) Database Administrator: .26 active job seekers for every position
From the explosion of sites like Twitter and Facebook, to the evolution of the smartphone’s presence in both our home and work lives, the world’s dependence on sophisticated technology is getting more prevalent every day. Companies, in turn, are using technology to make better business decisions and create new solutions for clients that live up to their ever-changing needs — and they need people who can effectively manage data to help create those solutions.
3) IT Security: .59 active job seekers for every position
Although it’s a concern when individuals like you, me or Ashton Kutcher get hacked, IT security is especially sensitive for companies, as they have to not only protect their own sensitive information, but that of their clients. It’s not surprising, then, that IT security jobs are often hard to fill, requiring candidates who need to be experts in various aspects of IT such as programming, hardware, network and database expertise.
4) E-mail Marketer: .69 active job seekers for every position
The way people consume information is becoming more and more selective — as are their e-mail spam filters and propensity to hit that worn-down “Delete” button on the keyboard. With all the noise coming at people from every direction, it’s now harder for companies to grab consumer attention — and e-mail marketers who know how to cut through the clutter and help them get in front of their target audiences are in high demand.
5) Financial Adviser: 1.2 active job seekers for every position
With the after-effects of the recent recession still being felt, people are looking for guidance on how to build financial security after depleting their short-term savings, tapping into retirement funds and losing home equity. And with millions of baby boomers on the verge of retirement age, the demand for financial advisers to help build retirement plans is about to become even bigger.
6) Environmental Engineer – 1.25 active job seekers for every position
“Green jobs” or “green-collar jobs,” otherwise known as jobs focused on environmental preservation, are all the rage. Green jobs are expected to grow at the rate of a whopping 1.3 million jobs per year through 2030, and, fortunately for green employers, more and more job seekers are seeking out employment with environmentally conscious companies. In addition, federal, state and private funding is fueling openings for those able to develop solutions for pollution control, recycling, waste management and other public health initiatives.
7) Sales Engineer: 1.72 active job seekers for every position
As the economy begins to bounce back, companies are once again expanding their sales forces to increase revenue — and are relying on sales engineers to help close and manage deals around more sophisticated products. These experts are a key part of the sales process, as they compare solutions to competitor offerings, and troubleshoot any issues along the way.
8) Social Media Manager: 1.78 active job seekers for every position
Social media (rapidly becoming known as simply “media”) moves quickly — and so does the need for those able to manage it. Sites like Facebook and Twitter have seeped into just about every aspect of both our personal and professional lives — and more and more companies are “getting it” and jumping on board to engage people in their brands, build relationships, market products and reach more individuals in new ways. To do this successfully, companies need people with social media savvy and strategic delivery — and fast.
9) Compliance Analyst: 2.52 active job seekers for every position
These days, companies are being held under greater scrutiny and must meet with more stringent local, federal and state regulations. Health care and financial firms in particular need people who can understand relevant laws and help to establish policies and training programs.
10) Writer (technical and other): 3.31 active job seekers for every position
From chip manufacturers to software companies, technical writers are needed to clearly explain new products, upgrades and features that are often very specialized. The race to stay on the cutting edge matched with increased investment in new technologies drives continued demand for this technical skill set.
More about the Supply and Demand Portal
How does it work?
The portal pulls data from national employment resources like CareerBuilder.com, Wanted Analytics, and EMSI, in turn getting access to more than 45 million jobs, 40 million resumes and 140 million worker profiles — meaning a ton of rich, relevant data turned into meaningful intelligence. Based on the number of available jobs and available candidates, the portal identifies occupations and corresponding markets with the greatest supply and under-supply of candidates.
The portal can also help your business understand:
- Where to open a new business or school
- Top markets with greatest supply of candidates for a particular position
- Top markets where demand for talent exceeds supply for a particular position
- Top employers hiring for the talent you need for a particular position
- Location intelligence through heat maps
- Common job titles for a given skill
- How to better hire for emerging or hard-to-fill positions
- How market saturation may be impacting compensation trends
By using talent intelligence to stay on top of trends in the current labor market, you’ll have a more clear sense of where to find your talent (and your competitors) — and stay one hire ahead.