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Employment Projections Play Key Role in Workforce Planning

Future business trendsAs a hiring manager or recruiter, having the knowledge to properly plan for potential recruiting hardships can mean the difference between night and day when it comes to its effect on your recruiting ROI. You may already know which markets are currently the most difficult in which to hire, but do you know where hiring is getting even more difficult?

By taking the time to gather employment projections for a specific market, you can gain the information you need to make smarter workforce planning, sight selection and talent pipelining decisions. To give you an idea of what information is available – and how you can apply it to your own organization, let’s take a look at what the future holds for software developers.

Using EMSI Analyst, I was able to find the nationwide five-year employment projections for job growth for software developers. According to Analyst, this occupation is projected to have steady increase in employment, averaging a 2.3 percent increase per year. Understanding where these jobs are expected to grow the most can help you make crucial sight selection decisions.

Employment Trends

As the chart above shows, some of the top markets are New York City, Los Angeles, Chicago and San Francisco. What’s interesting to note is that New York will gain the most software developers in the next five years, but San Francisco is a faster growing market. Therefore, San Francisco may be a better place to open a new office than New York. Another thing to keep in mind there is, although there will be more software developers, the employment projections indicate competition for these workers will be more intense as well. It’s important to consider factors such as compensation and demand when selecting a sight.

As recruiting battles heat up, turning to colleges and universities to help bridge the employment gap is a very important step. 

Computer Science Degrees Earned Nationwide 2003-2012

Training providers

As the chart above indicates, computer engineering degrees took a dip after 2004 and have yet to fully rebound, which could be a reason the employment gap for software developers is growing.  Another reason for the gap could be that students are choosing more general degrees (in lieu of computer engineering degrees) in hopes to have more career options after graduating. Information Technology degrees, on the other hand, are growing, which explain where some of those lost graduates are turning.

Employers in need of workers with computer science training should consider partnering with colleges and universities that offer computer science of IT degree programs. Internship or externship programs are a great way to attract future workers and steer them in direction of an occupation in a growing market. By capturing these students now, employers can build a bridge to help close the skills gap in their own organization and prevent attrition in markets where it is difficult to recruit.

Bob Nelson

About Bob Nelson

As an Analyst for CareerBuilder’s Workforce Analytics Team, Bob Nelson specializes in researching and reporting on the labor market. He provides insight into trends regarding recruitment, talent supply and demand, and candidate demographics in order to drive growth of CareerBuilder’s data portals. He works closely with CareerBuilder's business development team and the sales force to answer pivotal business questions for clients.

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