There have been a handful of rumors the past months about large organizations coming to or expanding their Minneapolis and St Paul offices.
A couple of weeks ago Minneapolis St Paul Business Journal had this article (premium content) Tata to open 300-person office.
While Tata already has a local presence with a sales office and a number of clients this is a large expansion.
In the article I was quoted:
Tata is a well-known name in the IT industry. However, if it plans to predominately hire tech workers, that will shake up the already tight labor market for IT workers, said Paul DeBettignies, vice president of recruiting for Minneapolis-based HireCast Consulting.
Best Buy recently swallowed up a lot of talent when it hired 200 workers for an in-house IT team, he added. “It’s not to say they won’t be able to do it, but the talent pool is only so big.”
While having no information yet on the number of new Minneapolis hires Tata will make versus current employees rotating from other U.S. and global offices... this is significant in what is already a very tight job market.
If they only hire 50 or 100 new Minnesota IT folks to their team it will surely increase the strain companies in general are having when it comes to hiring IT staff.
I have been really reluctant to use the phrase “War for Talent” but this may be the tipping point that brings us back to what we were facing in 2007 with peak employment.
And if this is the case… Minnesota companies better be ready for the competition in finding new and retaining current staff.
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