FEATURE
WITH THE TALENT POOL CONSOLIDATED IN RELATIVELY FEW AREAS , IT WAS EASY FOR BUSINESSES TO KNOW WHO THEIR COMPETITION WAS – THEY WERE OFTEN RIGHT NEXT DOOR .
Last but not least , the talent shortage continues to be a problem for IT leaders , how can they address this ?
For IT leaders , a thorny consequence of the pandemic is the increasingly challenging quest to secure top-tier talent .
Before COVID-19 , traditional geographic constraints simplified the talent search , as people typically moved to cities like London , San Francisco and other big tech hubs to seek job opportunities . With the talent pool consolidated in relatively few areas , it was easy for businesses to know who their competition was – they were often right next door .
Now the hiring game has gone global , with businesses expanding their recruiting efforts beyond international borders , making it harder for companies to win and retain talent .
And when they lose talent , the effects are palpable : in a recent survey of 1,000 IT managers across the UK and the US , 71 % say high attrition rates resulted in ‘ knowledge loss and their current employees struggling to access important information ’.
The answer to overcoming the talent shortage ( and avoiding its sour effects ) lies in attrition : what makes employees walk away ?
For one , rigid working environments .
Remote work became the norm for much of the knowledge workforce during COVID-19 , and it was seemingly here to stay , until companies like Google and Amazon issued RTO ( return to office ) mandates . In response , many businesses are now facing a backlash from employees and experts who call hybrid work the ‘ only sustainable solution ’.
Beyond competitive wages and hybrid work environments , IT leaders must consider employees ’ new desires if they want to attract and retain the desperately needed top tech talent .
In many ways , IT leaders need to approach the talent shortage as they do their IT departments , their technology partnerships and Digital Transformation as a whole ; none of these components exist in a silo and all must be approached with a long-term strategy to ensure successful future growth . x
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