Where has all the IT talent gone? Posted on November 7, 2017 by Tim Burke If you’re struggling to find the kind of skilled IT human resources your company requires, you’re not alone. Tech employment is increasing at nearly twice the pace of overall job growth. For many (about half of those queried in one recent survey), the search for IT talent has been spawned by business expansion. And what’s needed most? New IT skillsets in software/web development, data analysis, IT security, and IoT. Evolving IT skillsets… Finding IT human resources with such skills isn’t always easy. More than 60% of IT execs say they face challenges attracting appropriately trained and experienced IT professionals. Nearly a quarter seek the skills necessary to upgrade existing systems, while 22% need expertise in keeping systems and data secure. Importantly, 31% also point to IT staffing woes posed by new business rivals who are attempting inroads into their markets. It all adds up on the bottom line: Losing a key IT talent can cost from 50% to 150% of that IT person’s annual salary. …In a world disrupted by innovative technology This also adds up, I believe, to a sure indication that digital disruption is approaching critical mass as a continuing stream of innovative technology impacts managerial, financial, and operational practices across all industry sectors. Thus, your enterprise must contend with both known and unanticipated new competitors as your business landscape itself gets reconfigured by those who spot and exploit new kinds of opportunities derived from developments in IT security, digital marketing, mobile computing, big data, and cloud services, among others. The effects on your ability to find and keep IT staff with the skills you need are already far-reaching. An entire year ago, at least eight in 10 US businesses were being negatively impacted by a lack of IT talent. Nor will this be abating anytime soon. The US Bureau of Labor Statistics’ research indicates that by 2020, a million more IT-related jobs will be available than applicants with the skills to fill them. It’s about more than money So how, then, do you acquire the IT talent you need? Incentives, of course. But when it comes to IT staffing, money is only part of the equation. Several other factors matter big-time, in this order: The ability to learn and grow The opportunity to work on interesting projects Bonus or stock options Advancement opportunities Vacation time Using new and innovative technology Having a unique office environment or other office perks Remote working options If you’re concerned about how some of the entries on this list might be impacting your organization’s ability to attract and keep people with the right IT skillsets, don’t be daunted. You can get the IT talent you need. In my next post, I’ll explain how.