Science, technology, engineering and mathematics (STEM) are crucial fields when it comes to driving innovation. Yet businesses are finding it increasingly difficult to recruit qualified STEM employees into their workforce. The competition to fill STEM jobs is getting so fierce that big tech companies offer perks such as feeding their employees three meals a day while offering unlimited sick days. Check out our newest infographic for the big picture on how heavy the demand for jobseekers with STEM skills has become:
The U.S. workforce lacks enough STEM workers
Take a look at unemployment as a prime illustration. Overall there are 3.6 unemployed individuals for every open job listing, yet there is a definite shortage of candidates when it comes to STEM jobs. For every two open STEM job listings, there is only one qualified unemployed individual. And that gap will only increase.
Three-quarters of the fastest growing occupations require significant mathematics or science preparation. By 2018, there could be 2.4 million unfilled STEM jobs. While jobs overall are expected to grow just shy of 10 percent by 2018, STEM jobs are predicted to grow by 17 percent. More than half of this growth will be made up of computer careers, and more than a quarter will be engineers and technicians. Life/physical scientists, architects and surveyors, and mathematical sciences make up the remainder.
Where is the STEM gap’s source?
Many believe the STEM skills gap lies with education, and they are partly correct. Currently there are 271,000 graduates per year who earn a degree within STEM, yet there are 277,000 job vacancies at all education levels in the STEM category. This leaves 6,000 STEM vacancies unaccounted for. U.S. colleges are only graduating enough computer science engineers to fill 30 percent of STEM jobs by 2020. While lack of U.S. STEM graduates is undoubtedly a contributing factor to the STEM gap, another cause may surprise you.
The single-most responsible factor in the STEM skills gap is that employees with STEM skills are highly sought-after in all fields. Just ten percent of students who earn a Bachelor’s Degree within a STEM major actually go on to work in STEM after college. Fast-forward ten years and that number drops to just eight percent.
Having trouble finding STEM candidates for your company?
You’re not alone. This is a key pain point for many companies, and the team at Adecco Engineering and Technology is here to help. We work, live and breathe STEM. We use our knowledge and insight to keep businesses ahead of the growing talent shortage, and we use our connections with premier STEM professionals to deliver the innovators our clients are looking for.To learn more about our STEM recruiting and staffing solutions, contact us today.