I need to find data about recruitment costs companies are spending to fill tech roles

Part
01
of one
Part
01

I need to find data about recruitment costs companies are spending to fill tech roles

Hello! Thanks for your question about the recruitment costs companies spend for filling tech roles. Unfortunately, even after extensive research, we've found no specific monetary value for recruitment spend for IT occupations. However, we found forecasts and trends which support the idea that organizations are spending more on the technology professionals' hiring process. Below you will find a deep dive of my findings.

GLOBAL RECRUITING TREND

According to a survey, to which approximately 4000 recruiters from 35 different countries responded, the global trend in recruiting/ acquiring talent has changed. Organizations' recruitment budget allocations are shown below:
2012: Increase in budget-31%
Retain- 44%
2013: Increase in budget-30%
Retain- 47%
2014: Increase in budget-41%
Retain- 44%
2015: Increase in budget-42%
Retain- 47%
2016: Increase in budget-37%
Retain- 52%
The following data breaks down the percentage of leaders who confirmed on increasing their recruiting budget by this year: Canada-26%, Netherlands-30%, France-24%, USA-33%, UK-31%, Germany-41%, India-63%, Southeast Asia-54%, China-46%, Brazil-29% and South Africa-45%.
This is the budget allocated per industry:
*Professional Services-25%
*Technology-13%
*Retail and Consumer Products-11%
*Architecture and Engineering-7%
*Financial Services and Insurance-7%
*Government/ Education/ Nonprofit-7%
*Manufacturing/ Industrial-7%
*Healthcare and Pharmaceutical-7%
*Aero/Auto/Transport-6%
*Oil and Energy-3%
The priority roles filled up by recruiters are: 1st-Sales, 2nd-Operations, 3rd-Engineering, 4th-Information Technology and 5th is Business Development
According to a report from Local Trend Report and Robert Half Technology IT Hiring Forecast, 21% of US Chief-information-officers revealed that in the second half of 2016, 63% of the CIOs wanted to fill open roles. 13% of them intend to hold any hiring plans while 3% expected to lessen their IT staff.
When it comes to increasing the size of their IT teams, here's a break down based on cities:
Seattle, WA- 22%
Detroit, MI-26%
Minneapolis, MN-29%
Indianapolis, IN-29%
Raleigh, NC-24%
Washington, DC-23%
Specifically, 61% of CIOs explained that finding skilled IT professionals can be very challenging. The following are the IT skills with the greatest demand within organizations:
*Network administration-57%
*Database management-53%
*Desktop support-55%

IT RECRUITMENT IN 2017

Salaries of IT professionals are forecast to increase by 2017 based on Robert Half Technology from 4.5% to as much as 6.4%:
*Data engineers' salaries will range from $135K-$196K
*Data scientists' salaries are expected to range from $116K-$163,500
*Network Security Engineers will be paid $115K-$162K
*Data Developers- $108K-$161K
*Data Security Analyst-$118K-$169K
*Network Engineer- $99K-$146K
*Network Security Administrator-$107K-$155K
*Software Developer- $93K-$155K
*Web Designer- $70K-$118K
*Software Engineer-$108-$164
Financial and healthcare services are the leading industries which are said to drive the most growth in high-tech jobs.

IT HIRING COSTS


Increase-45%
Retain-47%
Decrease-$8
2017 Midyear:
Increase-34%
Retain-43%
Decrease-23%
The factors that are affecting the hiring process of talent acquisition for IT professionals this year are unfit candidates, not enough skilled IT professionals, lack of budget for salaries and lack of specific plan or strategy for hiring.

CIOs HIRING INTENT FOR IT PROFESSIONALS

Below is the information on how CIOs expect their IT/ Technology teams to change from 2011-2017:
2011: Increase-41%
Decrease-16%
Retain-43%
2012: Increase-40%
Decrease-19%
Retain-41%
2013: Increase-41%
Decrease-19%
Retain-41%
2014: Increase-43%
Decrease-20%
Retain-37%
2015: Increase-44%
Decrease-17%
Retain-38%
2016: Increase-44%
Decrease-17%
Retain-39%
2017: Increase-44%
Decrease-16%
Retain-40%
In 2016, there were approximately 5.98M workers in the IT/ technology department. In this area, IT and software services accounts for 2.6M jobs, 1.6M in telecommunications and 1.1M for technology manufacturing jobs.

CONCLUSION

To wrap it up, although we couldn't find specific costs for recruitment spend, we found that when it comes to acquiring IT professionals, the salaries for these jobs see an upward trend. Thus, this will create higher demand and will eventually result in a higher budget allocation for IT/ technology professional recruitment.

Thanks for using Wonder! Please let us know if we can help with anything else!

Sources
Sources