We all know skills shortages are common in IT, and they have only been getting worse. Information technology is a continuously growing industry, and demand for experts in this field continues to increase. In a recent survey by Deloitte, nearly 90% of technology industry leaders named recruiting and retaining talent a challenge for their organization. Businesses are struggling to find the top IT talent they need. Here’s what IT talent scarcity can mean to your business.
Expect Ongoing Competition for Talent with AI skills
The demand for IT talent with artificial intelligence (AI) skills is skyrocketing as companies across all industries look to capitalize on AI’s transformative potential. The stakes for acquiring top AI talent have never been higher. And the demand for AI talent in the next five years will likely stay high.
To cope with this, many organizations are investing heavily in upskilling their workforces. If reskilling is to succeed, companies must develop a clear set of enrollment criteria for employees, not all of whom will have the right combination of motivation and personality traits to be a good fit for reskilling.
Company Culture Is More Important than Ever
IT talent is scarce, and that means IT professionals have tons of options. They can afford to think about things like company culture. Your company’s culture is your company’s personality. It includes the work environment, company mission, and vision. When your culture is well-known, candidates who like what they see will be attracted to your company.
For example, you could become known for flexibility and good work-life balance. Some of the best tech companies to work for are known for this type of culture. Employees who want to work from home, work flexible hours, or have more time with their families will be drawn to you.
Hiring Practices Need to Change
IT Talent scarcity changes the ways companies can hire. When there are plenty of people looking for work, hiring can be as easy as posting ads on job boards. You can be sure talented candidates will be browsing the boards, and they may apply for your positions. That doesn’t work quite as well when talent is scarce, like in IT. All the great workers are already employed elsewhere, and they’re not looking at job boards. That’s why you get swamped with unqualified applicants when you post an ad online.
To hire successfully, think long term. Work your network and collect employee referrals all the time, even if you’re not hiring yet. When a position opens up, you’ll have several candidates to reach out to. While many may already be employed, they may be willing to talk to you about a job on your team.
Another strategy is to get help from a technical recruiting company. These companies specialize in finding IT professionals. They can find them quickly and, most importantly, assess them properly with the customized tools, like this one we offer.
Retention Needs to Be a Priority
When you’re having trouble recruiting information technology professionals due to IT talent scarcity, your competitors are likely dealing with the same issue. They may try to get your top employees to leave and work for them. This is common for some in-demand areas of tech. For example, software developers who are just out of college can get up to 20 recruiting calls a day. AI professionals could get even more calls.
To hang on to your existing employees, remember to invest in them. One of the reasons employees leave is to learn new skills or get promoted to higher positions. With an effective training program, your employees can learn the new skills they want without leaving the company, like AI. Whenever possible, try to promote from within your company. When employees see they can advance in their careers without jumping ship, they’ll be less tempted to talk to your competitors.
Questions about hiring in IT? We have been in the IT staffing space since 1995, so we can help. Let’s connect!
