Reliable tech talent represents difference between success and failure

The digital skills gap is leaving workers without job opportunities and reducing the ability for companies to grow and succeed.

So how are technology leaders across all industries addressing this issue? How are they thinking about sourcing, recruitment, hiring and training to ensure they have the skilled workforce they need for today and into the future, without overpaying for in-demand talent?

Our parent company Catalyte, in conjunction with Canam Research, conducted the state of the digital tech workforce survey. We talked with leaders at companies like Amazon, Bank of America, Cisco and Live Nation, and found that technology leaders were focused on, and concerned about, three top issues.

The skills gap is real

50% of companies can’t find enough qualified candidates for tech roles. 40% can’t pay enough to attract top talent.

No one knows how to solve it

63% are dissatisfied with current programs designed to find new sources of tech talent.

If you don’t have tech talent, you risk becoming a digital laggard

The first three numbers in the chart below are like canaries in the coal mine. They are warning signs that, if left unchecked, will lead companies to become digital laggards and join the 19% who experienced lost revenue.

So what needs to change in order for companies to get the technology talent they need to succeed?

1. Bridge the gap

For companies to continue to grow, innovate and deliver the digital products customers expect, they must find new sources of technology talent.

2. Broaden your talent horizons

Look nationally, rather than regionally, to get the best talent available. In a remote work environment, the talent you need doesn’t have to live within commuting distance.

3. Diversify the tech industry

Companies should continue to focus on diversity as a business driver. This includes diversity of location, education, background, age, work experience along with race and gender. Get creative with non-traditional channels to find and engage new sources of great developers.

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