IT Talent Shortage in the Making
IT Talent Shortage in the Making
July 2, 2007: Deloitte has a warning for employers seeking IT talent: We’re on the verge of a talent crisis that could soon have technology organisations running on a shortage of IT expertise.
Based on the results of the Deloitte Technology Fast 500 CEO Survey, Deloitte says that with the baby boomer generation reaching retiring age, CEOs across the globe are predicting chronic shortages of talent to soon be one of their greatest concerns.
It’s a problem the Deloitte Technology Media and Telecommunications group leader Damien Tampling believes, could last for decades and pose a serious risk for the industry globally and particularly in Australia. “Technology companies, which rely heavily on top talent to drive innovation, will suffer especially from this global problem,” says Tampling.
“Over half of the companies surveyed said they plan to expand their workforce by more than 25 percent with the vast majority wanting to grow organically.”
Even once the talent is hired, Tampling says most CEOs agree that it’s retaining the qualified employees that’s the problem. Finding the talent is critical, yet CEOs have also expressed concern over the focus of national education systems – leading to changing opinions on offshoring.
“Offshoring is now not seen as cut-rate labour supply, but as a valuable source of talent that is not available back home,” says Tampling. “CEOs have made their talent their top personal challenge to develop the next generation of leaders, however a large number express concern about the focus of national education systems.”
The findings were based on a survey of 546 CEOs around the world. Known as the Deloitte Technology Fast 500, the CEOs include the fastest-growing technology companies from each of the world’s three major regions: North America, Asia Pacific, Europe, the Middle East and Africa.