The card company has already hired thousands of new employees this year, and it looks like it isn’t slowing down any time soon.
- American Express Co. has been hiring technical workers this year by the thousands. Currently it is hiring software engineers, coders, and developers.
- As the card company’s technology sector grows, the need for employees has grown as well. Already this year it has hired 3,600 technical workers. The company hopes to fill the remaining positions by the end of the year.
- More than half of the new hires will be in the U.S. The rest will be based out of India and Europe.
Why it’s news
Finding employees with the needed technology skills has been an increasing difficulty for industries across the board.
A February Deloitte report found that approximately two-thirds of human resources staff identified recruiting qualified developers as their greatest challenge.
Now that AmEx’s customers are back out in public life following the pandemic, the card company’s revenue is on the way up. Company leaders are anticipating a 25% climb. Taking advantage of the high revenue, AmEx plans to increase its technology and talent investments.
AmEx has fully taken advantage of remote work options, allowing employees to work completely from home, an option 40% of its staff has taken advantage of. The rest of the employees have adopted a hybrid work style.
Backing up a bit
AmEx’s approach to the bump in revenue isn’t a surprise. In the face of a downturn, many major companies are taking the opportunity to invest in strengthening their company.
During the 2008 and 2009 recession, companies that invested during the downturn were able to double their earnings from 2009 to 2015. Those companies that didn’t invest saw their numbers stagnate, reports CNBC.
A survey by research and consulting firm Gartner recently found that executives plan for technology investment and workforce development to be the last expenses cut, if needed.
Different retailers have their focus on different areas. The Home Depot, for example, is planning to improve the supply chain between stores and suppliers. Walmart on the other hand is looking to improve its restocking system so fewer shelves are left empty.