In the current landscape of digital transformation where emerging technologies and fast-paced competitiveness are the norms, organizations may be unable to find the IT talent they need to keep up with the evolving challenges and achieve their strategic objectives.
As said by Matthew Shinkman, practice leader at Gartner: “In this strong economic environment of significant business growth and record-low unemployment levels, the battle for talent is heating up as employees now have more bargaining power. As a result, talent is harder to find and even more difficult to keep.”
In the specific case of tech workers, talent shortage has evolved from an inconvenience to a significant business problem halting companies’ progress. And when companies do find tech talent, they often can’t afford it.
How can you Address the IT Talent Shortage?
To mitigate the risk of talent shortage as competition for workers continues to rise, leading organizations are shifting how they source talent. Some of the best practice strategies to do this are:
- Moving from a needs-driven approach to finding talent to a market-driven approach to adapt to evolving external labor market realities and organization needs.
- Investing in training initiatives now and encouraging a culture of continuous learning. Focusing on new and current employees.
- Work with a Staffing Partner. Although in the past this method has been seen only as a way to reduce cost, IT sourcing has become a tool for every business in the ongoing quest for talent and the business dynamics for specific skills, differentiation, and innovation.
Overcome the IT Talent Shortage
The innovative nature of IT often means there is a constant need to keep reassessing skills, training, and recruitment, to ensure you can meet changing demands.
Companies need to be clear on their goals and business needs for sourcing, and analyze the pros and cons for onshore, offshore and nearshore outsourcing, in terms of cost, maturity, and required skills.