Dive Brief:
- Nearly two-thirds of tech industry decision makers say their businesses struggle to hire, according to a report from Cengage published last week. The company surveyed 1,000 decision makers across industries.
- More than half of employers say they're considering paying for education opportunities to respond to growing internal talent needs.
- Nearly one-third of IT decision makers say either a two- or four-year college degree was most-often required for entry level positions at their companies.
Dive Insight:
Employees looking to advance their career seek training opportunities. Regardless of a candidate's degree, companies want to know what skills they bring to the table — and what internal needs they can backfill.
Demand and supply remain off kilter in a tech talent market where open roles still outnumber available candidates.
More than half of IT leaders say their organization struggles to hire and retain the highly skilled IT staff they need, according to an IDC survey released in July. Unemployment in IT roles remains far lower than the general unemployment rate: 1.8% compared to 3.6%, according to CompTIA data.
A high-demand tech talent market lowered emphasis on formal college and university designations, said Lucy Norman, senior director of talent acquisition at Info-Tech Research Group, in an email.
"Hiring managers and business owners need to ask themselves how crucial these educational requirements really are in relation to their ability to effectively do the job, and whether practical experience and hard skills hold more value," said Norman.
With tech skills in high demand, it's an employee's market, especially in fields like software engineering,. Four in 10 software engineers are thinking of quitting their positions, lured by higher compensation or remote work accommodations.
CIOs can help companies address the talent skill gap by building a culture of continuous learning, and creating opportunities to train internally, said Ashwin Bharath, founder and CEO of Revature.
"For many companies, the number one reason for their growth and survival is going to be their ability to hire and retain talent," said Bharath.
Talent retention requires a multi-pronged approach. Executives need to address issues with company culture, the competitiveness of compensation and the projects workers get to focus on. In-house training is another factor that lets workers see a long-term future within an organization.
"Upskilling should start from day one," said Bharath. "Not after one year.”
