How to Close the Tech Talent Shortage Gap
The imbalance between supply and demand of IT demand shows no signs of correcting itself anytime soon. Gartner reports that 64 percent of IT executives surveyed cite talent shortages as the most significant barrier to the adoption of emerging technology.
Universities are graduating more computer science individuals than ever before, but it is not nearly enough. With IT jobs projected to grow at a rate of 14%—twice the national rate over the next decade—this isn’t a challenge that is likely to go away.
Instead, companies must be creative and diversify their approach to sourcing candidates. Here are some alternative labor pools/strategies to consider:
Eliminate four-year degree requirements. Employers like IBM and Accenture are already putting this idea into practice, considering two-year degrees or certificates for certain positions.
Neurodiverse candidates. Individuals on the autism spectrum are more likely to have strengths around pattern recognition, logical reasoning ability, enhanced focus, and other traits that lend themselves well to jobs in QA, Analytics, Cybersecurity, etc.
Return to work parents. Bureau of Labor (BLM) microdata of working age mothers translates to about 2.7 million women, and about 80% of that group is interested in returning to work.
Transitioning veterans. Annually, 200,000 active-duty military, reserve or national guard are transitioning from being employed fully or partially into the private sector/civilian world. Many companies prefer to hire veterans because of the discipline, responsibility, and understanding of chain-of-command skills that are built into individuals serving in the military.
Train up. Recognize potential and be willing to train or upskill qualified talent. There are 6,466 listings on Indeed from large, successful companies such as Geico and Assurant, which include the words “Developer will Train” in the headline.
Borderless hiring. In addition to being able to source “remote” workers from just about any corner of the U.S., hiring managers can source top candidates from Asia and Latin America and other fast-growing regions for IT talent.
Older workers not ready to retire. There is a significant pool of very qualified, older, more experienced professionals who have gone into independent consulting, but would be willing to return to the corporate world in some capacity.
Blue-collar workers. According to the Wall Street Journal, more than a tenth of Americans in low-paying roles in warehouses, manufacturing, hospitality and other hourly positions made such a switch during the past two years into software and information technology, as well as tech-related roles in logistics, finance and healthcare.
Coding boot camps. The grassroots enterprises have sprung up around the U.S. over the past decade. LinkedIn reports that boot camps enrolled 64,432 students in 2021, double the number from two years ago.
Partner with non-profits. Social ventures such as Opportunity@Work help people without a college diploma and/or minorities onto higher-earning career paths.
Digital talent shortages are here to stay. Considering these underutilized resources could help you stem the tide as you pursue your digital transformation efforts. Let us know if you would like help in tapping into them.