In today’s uber-competitive job market, it can be tough to know what potential employers are looking for throughout their respective hiring processes. From technical skills to specific personality traits, check out what some of the biggest companies consider when filling new roles on their team:
The US job market is showing remarkable resilience and growth, making it an opportune time for companies to invest in expanding their teams. According to the Bureau of Labor Statistics, the US economy added 272,000 jobs in May, significantly surpassing economists’ expectations of 190,000 and April’s gains of 165,000. This surge in employment, primarily driven by the health, education, leisure, hospitality, and government sectors, underscores a strong labor market despite high interest rates. With unemployment remaining at or below 4% for over two years and layoffs down 20% from last year, businesses should seize this moment to grow their workforce. Here’s why investing in your team now can benefit your company in the long run.
According to a report by the Semiconductor Industry Association, the global semiconductor market reached a record high of $464 billion in 2020, and is expected to continue to grow in the coming years. [X] This growth has been fueled by the increasing demand for semiconductor-enabled technologies, such as smartphones, laptops, and data centers. However, this surge in demand has also led to a shortage of skilled workers in the industry. Boston Consulting Group predicts that the semiconductor industry will face a shortfall of 10,000 to 30,000 engineers in the coming years. [X] In response to these challenges, the US government has recently allocated $52 billion in funding for the semiconductor industry to address the talent shortage and maintain its competitiveness in the global market. [X] In this blog, Victoria Tchachnikova, TPD’s Semiconductor Industry Workforce Specialist will explore strategies for semiconductor companies to keep up with hiring demands and attract the best talent in this rapidly growing industry.
The war for talent has turned the recruitment process on its head. Employers who once were flooded with applicants now struggle to fill positions. It’s a job seeker’s market and many candidates are being more selective in their job search.
