Workplace

There are plenty of job openings, but they're hard to fill

Employers expect to face difficulty finding skilled workers in the coming years, according to a new report.

Empty desks in an office

Monster released its Future of Work report.

Photo: Getty Images

There aren’t too many surprises in Monster’s global Future of Work report. Employees are still pining for flexibility and better pay, and employers are still hankering to hire in an increasingly competitive job market. But the report does forecast some of the biggest challenges employers expect to face in the next three years, including difficulty finding skilled workers and ensuring employees have an adequate work-life balance.

“The marketplace is infinitely more competitive, and employers are willing to spend more money to attract talent,” Monster’s Scott Gutz said.

Everyone is hiring

… but employers are having a hard time filling positions. Recruiters said they lack confidence in their candidates, and finding skilled workers remains a big problem. In tech specifically, 39% of those surveyed said they’re struggling with a skills gap, hurting their hiring efforts. And that’s just a piece of the puzzle; tech companies are lacking qualified recruiters, and candidates for companies like Meta and Google have complained about the interview process.

Still, more than half of those surveyed said they plan to replace or backfill jobs, while 93% of employers overall are hiring. The biggest industries looking to hire include engineering, automotive, retail and insurance/real estate.

“While employers want to hire, their confidence in finding the right fit continues its downward trend for the third year in a row,” the report states. “Hiring managers and recruiters are anticipating stiff competition for sourcing new talent.”

Give the workers what they want

To remain competitive, companies said they are primarily looking to be more flexible, increase benefits and perks, offer skills training and increase pay. In the tech industry specifically, increasing benefits and pay was identified as a top priority. Others said they have begun offering relocation stipends and starting bonuses and homed in on diversity, equity and inclusion efforts.

But these changes aren’t always what workers want: older employees said they’re focused on compensation, a safe environment and a workplace where they can connect with colleagues, while younger workers said they want job flexibility, career growth opportunities and long-term marketable skills.

The future of work isn’t hybrid for everyone

Some companies would bet their life on remote work, but others aren’t so convinced. Less than half of surveyed employers said hybrid work is the future, and 42% of employers said flexible work options have helped companies retain workers and have an edge in the recruiting process.

Companies all over are still loosening up on the whole office mandate. Over half of employers said they allow work-from-home work days, while about 40% said they allow people to choose and change their own work schedule. Companies are clearly bowing to workers’ wishes; flexible work schedules and remote flexibility were among the top candidate desires.
Fintech

Judge Zia Faruqui is trying to teach you crypto, one ‘SNL’ reference at a time

His decisions on major cryptocurrency cases have quoted "The Big Lebowski," "SNL," and "Dr. Strangelove." That’s because he wants you — yes, you — to read them.

The ways Zia Faruqui (right) has weighed on cases that have come before him can give lawyers clues as to what legal frameworks will pass muster.

Photo: Carolyn Van Houten/The Washington Post via Getty Images

“Cryptocurrency and related software analytics tools are ‘The wave of the future, Dude. One hundred percent electronic.’”

That’s not a quote from "The Big Lebowski" — at least, not directly. It’s a quote from a Washington, D.C., district court memorandum opinion on the role cryptocurrency analytics tools can play in government investigations. The author is Magistrate Judge Zia Faruqui.

Keep Reading Show less
Veronica Irwin

Veronica Irwin (@vronirwin) is a San Francisco-based reporter at Protocol covering fintech. Previously she was at the San Francisco Examiner, covering tech from a hyper-local angle. Before that, her byline was featured in SF Weekly, The Nation, Techworker, Ms. Magazine and The Frisc.

The financial technology transformation is driving competition, creating consumer choice, and shaping the future of finance. Hear from seven fintech leaders who are reshaping the future of finance, and join the inaugural Financial Technology Association Fintech Summit to learn more.

Keep Reading Show less
FTA
The Financial Technology Association (FTA) represents industry leaders shaping the future of finance. We champion the power of technology-centered financial services and advocate for the modernization of financial regulation to support inclusion and responsible innovation.
Enterprise

AWS CEO: The cloud isn’t just about technology

As AWS preps for its annual re:Invent conference, Adam Selipsky talks product strategy, support for hybrid environments, and the value of the cloud in uncertain economic times.

Photo: Noah Berger/Getty Images for Amazon Web Services

AWS is gearing up for re:Invent, its annual cloud computing conference where announcements this year are expected to focus on its end-to-end data strategy and delivering new industry-specific services.

It will be the second re:Invent with CEO Adam Selipsky as leader of the industry’s largest cloud provider after his return last year to AWS from data visualization company Tableau Software.

Keep Reading Show less
Donna Goodison

Donna Goodison (@dgoodison) is Protocol's senior reporter focusing on enterprise infrastructure technology, from the 'Big 3' cloud computing providers to data centers. She previously covered the public cloud at CRN after 15 years as a business reporter for the Boston Herald. Based in Massachusetts, she also has worked as a Boston Globe freelancer, business reporter at the Boston Business Journal and real estate reporter at Banker & Tradesman after toiling at weekly newspapers.

Image: Protocol

We launched Protocol in February 2020 to cover the evolving power center of tech. It is with deep sadness that just under three years later, we are winding down the publication.

As of today, we will not publish any more stories. All of our newsletters, apart from our flagship, Source Code, will no longer be sent. Source Code will be published and sent for the next few weeks, but it will also close down in December.

Keep Reading Show less
Bennett Richardson

Bennett Richardson ( @bennettrich) is the president of Protocol. Prior to joining Protocol in 2019, Bennett was executive director of global strategic partnerships at POLITICO, where he led strategic growth efforts including POLITICO's European expansion in Brussels and POLITICO's creative agency POLITICO Focus during his six years with the company. Prior to POLITICO, Bennett was co-founder and CMO of Hinge, the mobile dating company recently acquired by Match Group. Bennett began his career in digital and social brand marketing working with major brands across tech, energy, and health care at leading marketing and communications agencies including Edelman and GMMB. Bennett is originally from Portland, Maine, and received his bachelor's degree from Colgate University.

Enterprise

Why large enterprises struggle to find suitable platforms for MLops

As companies expand their use of AI beyond running just a few machine learning models, and as larger enterprises go from deploying hundreds of models to thousands and even millions of models, ML practitioners say that they have yet to find what they need from prepackaged MLops systems.

As companies expand their use of AI beyond running just a few machine learning models, ML practitioners say that they have yet to find what they need from prepackaged MLops systems.

Photo: artpartner-images via Getty Images

On any given day, Lily AI runs hundreds of machine learning models using computer vision and natural language processing that are customized for its retail and ecommerce clients to make website product recommendations, forecast demand, and plan merchandising. But this spring when the company was in the market for a machine learning operations platform to manage its expanding model roster, it wasn’t easy to find a suitable off-the-shelf system that could handle such a large number of models in deployment while also meeting other criteria.

Some MLops platforms are not well-suited for maintaining even more than 10 machine learning models when it comes to keeping track of data, navigating their user interfaces, or reporting capabilities, Matthew Nokleby, machine learning manager for Lily AI’s product intelligence team, told Protocol earlier this year. “The duct tape starts to show,” he said.

Keep Reading Show less
Kate Kaye

Kate Kaye is an award-winning multimedia reporter digging deep and telling print, digital and audio stories. She covers AI and data for Protocol. Her reporting on AI and tech ethics issues has been published in OneZero, Fast Company, MIT Technology Review, CityLab, Ad Age and Digiday and heard on NPR. Kate is the creator of RedTailMedia.org and is the author of "Campaign '08: A Turning Point for Digital Media," a book about how the 2008 presidential campaigns used digital media and data.

Latest Stories
Bulletins