There’s a thesis that every single company is becoming a software company. General Motors or Ford, for example, are not what we consider as software companies yet they’re hiring software engineers to work on initiatives like connected cars. At Indeed, we’re seeing greater demand for developer roles coming from traditional, non-technical employers, than from tech companies.
Yet, there just isn’t enough talent in the industry today to go around. The imbalance between supply and demand is a huge challenge, as software jobs grow at an unimaginable pace. And the problem for hiring companies looks set to get worse. Globally, the increasing demand for coding jobs dwarfs the supply of computer science and STEM graduates.
As a technology company, we’ve been experiencing talent shortage effect first-hand.
Engaging talent
We find it as difficult as other top tier technology companies in attracting the very best talent to Indeed to solve some of the hardest computer science problems out there. Right now, the top developers are constantly contacted with offers, to the point where they often won’t even engage. The situation is particularly acute in nascent areas such as Machine Learning (ML).
We’re seeing more than 30% of software development jobs staying open for more than 60 days. That leads to lost productivity in the hiring company, and teams risk underperforming because they’re missing a key member. Secondly, companies expend huge time and effort in trying to source candidates, narrow the field, and then interview in depth—with no guarantee the engineer will even accept the offer.
So we flipped the traditional model. Rather than bombard candidates with job opportunities, we built an online careers platform, Indeed Prime, for when they want to change role or take on a new challenge. With Indeed Prime, candidates define where they want to work, what salary they expect and what they’re looking for in their next job. They control who can view their profile and prospective employers reach out with upfront salary offers.
For time-pressed IT professionals looking to start a developer team or augment an existing group, Indeed Prime saves time while maintaining quality. Not only does it give hiring companies access pre-vetted high calibre talent, it has a 90% response rate, over half of which is positive.
Skills shortages
Indeed Prime also addresses the skills shortage issue. Our analysis shows that close to half of the people working in developer roles don’t have a formal computer science degree. Building software is ultimately a mix of left- and right-brain ability. An economics student building models with code, who already uses statistical packages and has a grounding in maths, possesses the foundational skills that can be built upon. We host coding challenges to onboard talented individuals who have the aptitude and intelligence for coding but who may lack the background in STEM disciplines or the formal qualifications.
Indeed Prime runs competitions designed to reveal this kind of ‘hidden’ talent—the kind employers might have overlooked through traditional recruitment methods. Because our system can assess their coding skills, it showcases candidates with proven technical ability.
Indeed’s mission is to solve one of the most difficult problems in business: finding the perfect match between an employer and a jobseeker. By expanding the talent pipeline for employers, and appealing to highly sought-after industry talent, we think it’s a win-win.
Raj Mukherjee, SVP of product, Indeed
Ltd
