Companies are more likely to pay the extra money if it can be tied to a specific need such as relocation, he says. The awards also help companies recruit talent without having to exceed existing salary ranges, says Mr. Fink. Within the high-tech industry, the demand for engineers is so fierce that there's a shortage at almost every level, says Mr. Siker. Recruiting at college fairs is at an unprecedented high, but the greatest need is for mid-level engineers, who have solid industry experience. High-tech companies seek software, hardware and systems engineers.
Shortages exist in every high-tech niche, and professionals with all skills are being sought.
Most organizations want to hire permanent employees but will consider hiring engineers on a contract basis because they're so desperate, says Mr. Siker. You must be skilled in the latest technology, continue to learn relevant skills or even earn a degree in computer science, electrical engineering or information management. You can move laterally from programming to design if you're well-regarded, says Mr. Siker. To reach management, you must be articulate and have good interpersonal and team-building skills, he says. As companies compete for talent, they're finding creative ways to differentiate themselves.