We know that many jobs are hard-to-fill and that you need data to back up your recruitment strategy. To help, we thought we'd demonstrate how you can use data analytics to build your hiring plan. In this example, we examine hiring demand and talent supply data for an IT Project Manager opening in Seattle, WA. Here are points to consider when devising your strategy.
What's the Demand Pressure for Your Open Job?
Based on data from WANTED Analytics, the IT Project Manager candidate supply and the number of openings for this job are unbalanced.
Our Demand Pressure demonstrates that there are about 6 qualified candidates per unique job opening throughout the US. This means that the candidate to supply ratio is likely to be more disproportionate in certain areas. In Seattle, there are even fewer candidates per job opening than there are nationally, making the market pressure greater.
Demand Pressure for IT Project Managers in Seattle, WA
How Long Do Similar Jobs Take to Fill?
On average, IT Project Manager job ads are posted online for about 46 days. This average posting period is the time it takes Recruiters to post a job ad, collect resumes, and begin the interviewing process. Add the average posting period to your typical interviewing process to figure out your time-to-fill. With this time in mind you can decide when to begin your recruiting campaign. If your job req has a longer average posting period, you can consider recruiting in areas with shorter ones. Mobile (AL) currently has a shorter average posting period, 38 days.
Average Posting Period for IT Project Managers in Seattle, WA
How Hard-to-Fill is Your Job Req Likely to Be?
In Seattle and throughout the US, IT Project Managers score a 91 on our Hiring Scale, indicating that this job is very difficult-to-recruit. Our Hiring Scale score ranges from 1 - 99, with 99 denoting hard-to-fill. With such difficult hiring conditions likely, you can consider sourcing talent from nearby metro areas with less difficult recruiting conditions. Salem (OR) is within 230 miles of Seattle and scores lower on the Hiring Scale at 53. The Demand Pressure, as discussed in the first data point, is more balanced in this area. In Salem, there are about 67 candidates per unique job ad. Nationally, Hagerstown (MD) presents the best recruiting conditions, scoring a 23. You can also look to advertise in and relocate talent from this city.
Hiring Scale Score for IT Project Managers in Salem, OR
What's the Average Market Salary for Your Open Job?
The median market salary in the Seattle metro area is on par with the national median, about $106,000. The market salary is the pre-negotiated value included in job ads to attract talent. This is not necessarily the compensation agreed upon between employer and employee. There's a more notable change when comparing IT Project Manager salaries in Seattle to Salem (OR.) In Salem, the local median salary is $80,500. You can use this information and difference in salary to attract someone to your open position in Seattle with higher pay.
Market Salary for IT Project Managers in the US and Salem, OR
To further guide you in your hiring strategy, I included a complimentary Talent Sourcing Report for IT Project Managers. If you would like to access more Talent Sourcing Reports, let me know in the comments.