In what might be the most telling sign of the shifting market, anecdotal feedback from the IT hiring managers with whom we work suggests they have to work harder to attract and hire the best candidates, many of whom are receiving job offers from multiple employers. CIOs who delay the employment process too long are finding their top choices accepting positions elsewhere.

Is this increasing recruiting costs? While we are unlikely to return to the hiring levels of the late 1990s, companies are increasingly recognizing that some of the recruitment strategies made popular during the dot-com era are needed to attract high-demand IT talent today. In addition to salary increases and hiring bonuses, many firms are investing in more creative tactics. Innovative firms are targeting individuals with specific skill sets by maintaining a presence at venues where they'll be, such as user group meetings, and tracking blogs aimed at these professionals. Advertising or posting jobs on Web sites and in e-newsletters targeted at those same groups can also be effective.

Whatever these increased recruiting costs may be, smart companies realize that they're far less than the potential costs associated with losing top talent to the competition.

Anecdotally, we hear a lot about IT professionals with lots of experience who can't find jobs. How do you explain the discrepancy there? The old passage "a rising tide lifts all boats" applied more to the IT employment boom of the late '90s than it does to growth today. Because CIOs are seeking candidates with very specific skill sets -- including technical expertise, industry experience, well-developed soft skills and business savvy -- not all IT professionals are feeling the recent gains in employment.

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