By Biswajiban Sharma
The skills gap in the information technology sector is getting significantly worse, as the industry grapples with talent shortage and employee retention, according to a survey by Skillsoft. A whopping 66% of IT decision-makers see skill gaps in their teams as a major problem. Several executives and managers say they expect gaps to develop within the next two years.
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The study found that the skill gap problem is being driven by both difficulties in hiring and retaining workers as well as underinvestment in training and development opportunities for existing staff. Skillsoft’s 2022 IT Skills and Salary Report surveyed nearly 8,000 IT professionals and decision-makers globally to understand the current state of skills, training, compensation and job satisfaction in the industry. In 2022, 63% of IT leaders have been unable to fill three of more positions, according to Skillsoft. Highly-skilled candidates in cloud computing, data science and cybersecurity have proved particularly hard to find.
Significantly, the top factors driving skills gaps cited by IT leaders are difficulties with hiring skilled candidates (44%) and employee retention (33%), while 26% said not enough resources are being invested in training. While still a considerable challenge, this represents a 10% decrease from last year. However, the industry is facing another pressing challenge centered around talent attrition, with more than half (53%) of all respondents extremely or somewhat likely to look for a new job in the next 12 months.
Over the past year, the workplace has been defined by employee-led “movements,” namely the Great Resignation and “quiet quitting.”
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Meanwhile, the pace of digital transformation and lack of enough technical resources have pushed many IT professionals to a point of burnout. Together, these trends are fueling record rates of talent turnover across all industries.
Further, the report revealed that IT leaders’ two biggest challenges are employee retention and recruitment. “Learning is the catalyst for mutually beneficial growth for employees and employers, especially as organizations struggle to retain technical talent and keep pace with innovation,” said Zach Sims, General Manager, Tech & Dev, Skillsoft.
A senior team leader, who works for TCS, said many tech employers have of late taken up upskilling initiatives for their staff already, but they are just not clear on the type of skills they should be training their staff in.
Companies that create cultures of learning and talent development will be most successful in recruiting and retaining ambitious individuals with the right skills and certifications to make an impact. This culture not only supports individual employee growth – which is something IT professionals are actively seeking – but also leads to better business outcomes that propel organisations forward, Sims added.
“It is not enough for companies to simply tell staff that they have learning and development programs in place – they must practice what they do on daily basis,” said a senior manager at Oracle in Gurgaon.