How to solve the tech and IT talent shortage of your business

The last few weeks have been all about massive layoffs at giant tech companies. Over 11,000 tech workers are now laid off from the tech sector, as businesses try to battle rising inflation and high operational costs. However, there is no lack of demand for IT workers in the industry, even among these large-scale layoffs.

Gartner’s senior principal analyst Jose Ramirez says that businesses are still concerned about their tech projects and digital transformation. Hence, tech workers are in demand today. So, how do you attract new IT and tech talent in this labor market? You need to adapt your hiring strategies to meet the needs of the day. One-pronged hiring maneuvers that only care about filling vacancies won’t work anymore. Businesses must develop multifaceted strategies to manage their talent and consider the human needs of their candidates in the process. Traditional hiring approaches must take the backseat as your business looks for new methods of talent acquisition.

What caused the IT talent shortage we see today?

Did you know that the unemployment rate for tech jobs is really low? Even when the unemployment levels are rising across the states, the unemployment rate for tech jobs remains at 2.2%, as reported by the November jobs report of the U.S. Bureau of Labor Statistics. Tech businesses created 20,700 job opportunities in October while the industry employment rate for the same month increased by 28% than that of the last year. However, Gartner’s research suggests that only 29% of IT employees are planning to remain with their current employer. Research from McKinsey & Co discovered that IT professionals change jobs every 2.7 years.

What are the challenges you will find when searching for, and retaining IT talent?

Being aware of the challenges of acquiring tech talent will help you avoid going into a talent strategy decision blindly. We have identified some major issues that contribute to low retention in IT jobs:

• The workplace culture does not support the career advancement of employees
• IT businesses often don’t offer competitive compensation packages
• Businesses go into hiring without concocting long-term hiring plans
• Chances for upskilling opportunities and engaging work is low
• Recruitment strategies that only target a small pool of candidates

What can you do to solve your business’s IT talent shortage?

As we mentioned earlier, a multifaceted approach to recruitment and employee retention will help you solve your talent acquisition issues.

Ensure chances for growth and internal mobility

As a recruitment officer, you are well aware of the importance of upskilling, reskilling, and internal mobility. Creating training, development, and educational programs for your staff will help you upskills and retain your employees. When your training programs are well-rounded, it makes it easier for you to search for new talent. You no longer have to search for the nonexistent perfect candidate.

Aim to boost the employee experience at your company

Great workplace culture is the best marketing strategy your recruitment program could have. Professionals in the IT industry consider a positive culture incredibly important when they search for a new job. Remember, no one wants to apply for a job at a company with a bad rep. Want to stand out among your competition? Offer your employees competitive compensation packages, work flexibility, diverse teams, an inclusive work culture, and public recognition for good work.

Offer challenging work for your employees

We don’t mean you should work them to the bone with extreme assignments. However, a lot of IT professionals value challenging work. Have a big project coming up? Don’t just dump it on one person. Assign large projects to multiple workers. That way, more employees get the experience and they get to work together to solve a problem. Support innovative ventures at your company. The challenge that comes with innovation gives people more incentive to stick with your business.