The market is always changing, and recruiters have great insight into not only its current status, but what is on the horizon. A recruiter’s livelihood is dictated by the market, so it is in their best interest to monitor it closely because they are asked early and often from both clients and candidates. The status of the market has profound effects on the job market as it can dictate salary levels, job offers, career decisions and so much more. Read on to get an update on the current Houston market:
Industry Insight
Jobs and opportunities are growing in Houston. From April 2018 to April 2019 there were 78,000 jobs added in the Houston metro area. While the economy has slowed slightly, Houston has not seen a significant lull. Houston is known for energy, oil and gas and private equity, but a number of jobs were added in technology companies and healthcare. Based on statistics, Houston should continue to grow. Oil and gas is a staple of Texas, however hiring oilfield services remains lower than in past years, showing a need for more office and experienced roles. Even though oilfield services hiring is down, energy trading has had a significant resurgence and many upstream E&P companies continue to hire despite relatively low oil prices. Yes, there are some companies that are experiencing layoffs and we’ve seen lots of Chapter 11 announcements, but a majority are hiring and paying to bring in talent from outside of Houston and even Texas.
Candidate Market
It is 100% a candidate market at the lower levels. Strong and even middle-of-the-road candidates are receiving multiple offers and are highly selective in their search. In fact, many firms are paying significant fees for “green grads” as long as they have some experience with an internship. There is less of a candidate market at the higher levels. At the mid-six-figure level and above, the demand curve starts to flatten, meaning there are less of these jobs than normal in a healthy candidate market.
Competition is fierce for these roles as there is a healthy supply of active candidates at this level. The contract side of recruiting is very robust as well. The rate of placed contractors converting to permanent employees is at an all-time high. Companies want talented employees and if a contractor performs well for them, there is a strong possibility they will convert to a full-time employee.
For employers out there, make fast offers because great candidates are most likely interviewing for multiple jobs. The faster you get an offer in their hands, the better chances you have of securing them.
IT
The IT market is HOT! Houston companies are paying top dollar for IT talent, especially in IT Security and Business Intelligence. It is not mystery either, as data breaches have become a staple in the typical news cycle and companies do not want to become a headline. These specialized roles mean that clients are seeking more experienced IT professionals and even offering telecommuting options. Morale of the story: If you work in IT, there is probably a great opportunity for you in the market if you are looking to move.
Future In Houston
Houston is a great place to find a new job. The strong economic growth has brought new business, professionals and opportunities to the market and made it a perfect time to transition into a new role or company. While the price of candidates is on the rise, it also means that businesses are growing—a true win-win. Employers, try to keep your rockstars, because they are sought after. And rockstars, there are other opportunities out there if you are not happy or unable to move forward in your current role.
If you have any further questions about working with recruiters or anything about the recruiting process, give us a call at 713-357-9565. We want to give unbiased answers to your questions, whether you choose to engage our help or not.
Happy Hunting!
