December 2013

PE REPORT
Demand for STEM Talent Increases in Nontechnical Firms

Engineering and technical firms aren’t the only ones clamoring for talent with science, technology, engineering, and math degrees. A recent survey of recruiters reveals that there will be a growth in STEM jobs and increasing demand to put STEM talent in positions not typically associated with technical fields.

Eighty-nine percent of talent recruiters surveyed for the Bayer Facts of Science Education study reported that competition is fierce to fill open STEM jobs with four-year STEM degree holders. In addition, employees with two-and four-year STEM degrees are just as or more in demand for non-STEM jobs than new hires without STEM degrees who have traditionally served in these positions.

Within the next decade, both STEM and non-STEM company talent recruiters surveyed believe that there will be more new STEM jobs than new non-STEM jobs created in their firms. Computer/information technology and engineering positions are forecasted to be the two highest growth job positions. There will be a 34% job growth in engineering positions for four-year STEM degree holders and 11% for two-year degree holders.

Although the survey participants believe that demand for STEM degree holders will be strong in the next 10 years, new talent with four-year STEM degrees will be short in supply. In particular, 75% of recruiters from the manufacturing and 77% from service industries are expecting a serious talent shortage. When these positions go unfilled, businesses may suffer. Participants say their companies have experienced lower productivity (56%) and limits to business growth (47%) when these jobs go unfilled.

When it comes to finding the right amount of qualified candidates in a timely manner, only 55% of firms can find candidates with two-year STEM degrees, and 50% of firms can find four-year STEM degree candidates. Recruiters also shared concerns about finding qualified candidates who are female and/or who are in underrepresented minority groups.

What are firms doing about this issue? Nearly all are investing in outreach programs to find qualified four-year STEM candidates. The programs range from internships, recruitment programs, summer employment and co-op programs, and scholarships. Firms in the manufacturing industry are more likely to provide summer employment (89%) and partnerships/co-op programs (80%) for students at four-year colleges and universities.