Right now, there’s a lot of chatter about a tech worker shortage. The reason the idea is making headlines is multifold. First, the demand for technology professionals is high, and it only keeps growing. Second, many companies have long struggled to secure their needed tech talent. Couple that with general reporting about labor shortages, and most would assume a tech worker storage is a problem.
However, some employers also have doubts. In recent months, there have been several high-profile tech industry layoffs, leading some companies and their leaders to assume that plenty of technology professionals should be available.
As a result, there’s some confusion about the current state of the landscape. Understanding the reality of the tech labor market makes it easier to navigate hiring. Here’s what employers need to know.
Is There a Tech Worker Shortage?
While it’s true that some larger-scale tech company layoffs did alter the availability of tech professionals in specific areas for a period, those staffing reductions weren’t sufficient to rebalance the landscape. The reality is that there aren’t enough technology professionals to go around, particularly in high-demand fields like software development, artificial intelligence (AI), data analytics, and cybersecurity.
While the exact depth of the shortage may vary by specialty area, significant percentages of tech jobs are anticipated to go unfilled over the next ten years. One key reason isn’t just due to the lack of technology talent today but also the likelihood of ongoing shortfalls. There simply aren’t enough people working in the field or preparing to enter it to fill all of the various roles. Plus, older workers in the sector continue to retire, often at a rate that the volume of incoming professionals can’t offset. Ultimately, that’s creating a tech shortage situation that may not only remain for years to come but could get worse as time passes.
How to Overcome a Tech Worker Shortage
Many companies are scrambling to find solutions to the tech worker shortages, and they’re often falling short of their hiring goals. Fortunately, there are steps companies can take to increase their odds of recruitment success.
First, classic steps like maintaining competitive salary ranges and offering robust benefits packages are musts. Offering ongoing professional development opportunities is another key step, as it not only attracts candidates but also creates pathways for closing skill gaps internally. Supporting work-life balance and building strong cultures that draw in the best and brightest are also necessities, particularly when you want to entice younger professionals.
Partnering with a staffing agency is also a wise choice for employers looking to improve their tech hiring. Along with being cost-effective, recruitment firms can connect you to far more talent than you’re likely to reach otherwise. Essentially, your company benefits from their expertise and support, making locating and engaging with genuine top talent easier.
If you’re looking for skilled, reliable tech professionals to fill your vacant position, GSG Talent Solutions wants to hear from you. Contact us to learn more about our comprehensive, flexible hiring solutions today.