Wroffy Consulting

IT talent shortage is when companies struggle to find employees with the right IT skills to meet their business needs. According to data, about 90% of companies are facing this issue right now. Korn Ferry’s global analysis shows that 4.3 million tech jobs will be left vacant due to talent shortage by the year 2030. There are several reasons that cause talent shortages in an industry, such as competitive pressure, global disruptions, and technological advancements leading to increased customer expectations. Such rapid change of pace has resulted in companies lacking the specialized skill set required to meet the demand. IT skills gap negatively impacts businesses, leading to failure in meeting product release timelines, revenue goals, and customer needs. In this blog, let’s dig deeper into this topic to understand the IT skills shortage and figure out solutions that can overcome this issue in the future:

IT skills that are in demand right now include:

AI: Nowadays, IT recruiters are preferring professionals who have knowledge about Generative AI, machine learning (ML), natural language processing, regulatory compliance, data science, etc.

Identity management and risk analysis: due to businesses undergoing digital transformations, most services and products have become digital, leading to the increased need for robust security and privacy within organizations. As a result, businesses are actively searching for employees who are experts in identity management, risk analysis, cryptography, etc., to ensure security.

Software development: almost all IT jobs require employees to have a solid grasp of programming languages. JavaScript is a coding language that is used in all IT roles, especially software engineering.

Cybersecurity: companies are searching for security experts with tech skills in:

Zero trust architecture: It is a security system that reduces risks associated with decentralized data.

Homomorphic encryption: This is a type of encryption that enables one to work with encrypted data without having to decrypt it first. Homomorphic encryption ensures third parties and collaborators can have safe access to larger sets of data.

Behavioral analytics: behavioral analytics combines AI with ML to identify dubious user behavior or suspicious device activity.

Workflow automation: CIOs seek to improve productivity with automation and thereby prefer hiring experts who know how to build low code/ no code.

Leadership skills: effective leadership qualities are valued now more than ever with the rise of AI. Leadership skills include the following aptitudes:

Problem-solving and decision-making skills: along with IT skills and knowledge, companies look for employees with a fast problem-solving attitude to execute plans strategically along with leveraging the power of AI in coming up with critical decisions at the right time.

Relationship skills: companies are in search of employees with comprehensive relationship skill that includes good communication, effective collaboration, and great partnership skills along with expertise in tech solutions for building a positive and productive work environment.

How do we overcome the IT tech shortage?

Establish a skills ecosystem:

IT staffing services teach companies to build an effective skill finding strategy to overcome tech shortages. An effective skill strategy should not only encompass existing capabilities but also build insight to look for skills that are going to be in demand in the future.

Companies must leverage large data models that can record employees’ self-assessment skills regarding certain roles or teams. This process requires taking relevant skills data from third parties and combining them with internal data to create valuable insights. As a result, a powerful skill ecosystem develops that allows owners to get the complete picture regarding their employees and resources to make data-driven decisions about talent staffing.

Leverage AI to enhance your IT skills strategy:

A quality skill ecosystem uses AI for the following reasons:

Utilize the power of generative AI and refine your talent acquisition process:

Modernizing workplaces by leveraging AI to elevate talent acquisition strategies is one of the most effective IT staffing solutions adopted by most companies these days. They create a skill-based approach which involves the following steps:

Final thoughts:

To conclude, organizations need to create a work culture that enforces regular training in order to bridge the tech talent gap. Encourage your employees to upskill themselves, take part in online courses, workshops, and e-learning apps. Moreover, build an effective retention strategy along with a modernized recruitment process to attract more talents.

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