The United States can expect to lose out on more than $162 billion in output — yes, with a “b” — by 2030 thanks to an IT shortage in skilled labor. The U.S. is currently the largest technology market in the world, but with China and India’s emergence we can’t expect to stay on top of the market forever. That $162 billion amounts to more than one-third of the total unrealized output across all countries analyzed.
In addition to the lost output, by 2030 the labor skills deficit will lead to a shortage of 4.3 million workers. The IT industry is in the midst of a full-blown workforce development battle, yet it seems we’re not — as a nation or an industry — fully aware of the challenges we’re set to face.
In the U.S., there are around 6.9 million unfilled positions within the entire economy, a number that is only expected to grow. Everyone in the IT sector knows finding the talent needed for the current open positions is a challenge, and each year the IT sector adds more unfilled positions to the tally.
There’s also the problem of turnover. Tech companies — software, not hardware — had the highest turnover rate in 2017, at 13.2%. So not only are there fewer and fewer qualified applicants, those who are qualified are moving around more often, which adds to the instability of the sector.
In a recent study of CIOs, 65% reported a lack of talent was holding their organization back. In the same study, 67% of CIOs were leaning into automation to help fill the void, and another 46% were looking to outsource their IT needs.
Having a talented staff — and knowing where to find talent when you’re ready to take on additional staff — is vital to your information technology operation. If you’ve struggled to find the right talent to fit your needs, you’re not alone. The good news is help is available.
If you’re having trouble finding the right talent for your IT needs, perhaps it’s time to bring in an expert. TRC Professional Solutions has been in the IT-staffing business for years, and we have a dynamic, impressive pool of talent from which to draw.
With any business, the ability to stand out is paramount to success. Our unique recruitment process ensures companies are only sent the absolute best candidates in the market. We take care of the strenuous vetting process so our clients can focus on business.
Let us champion your company! We know finding the right talent is immensely difficult. Hiring the wrong person can set you back even if you’ve done everything else right, whereas hiring the right person can mitigate future mistakes. Let TRC Professional Solutions find the right person for your IT role.
We’ve been named to the Best of Staffing for talent and client satisfaction for a reason. Let us help solve your talent needs today!