Decoding the Tech Talent Shortage

Data-based Solutions for Talent Acquisition and Development

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With a talent shortage exceeding 1.4 million jobs, projected job growth of 22% by 2029, and only 400,000 graduates per year, the tech industry’s talent problems won’t be solved simply. As the competition for talent mounts, tech organizations must consider how they’ll compete with businesses throughout other industries for the world’s most-coveted workers. A well-developed, data-based strategy for talent acquisition and development is the key.

IT_One in Three

1 in 3


The number of tech workers who plan to quit their jobs within the next year

IT_94 Percent

94%


The percentage who would stay longer for talent development opportunities

How We Can Help

Diversity

Improve Diversity and Inclusion

Women account for only 25% of the U.S. tech workforce but 50% of the national population. This underrepresentation extends to other historically excluded groups, including Black and Latinx workers, who together comprise only 15% of the tech workforce but 30% of the population. Incorporating personality into your talent strategies can help build and retain a diverse workforce, plus create lasting cultural change so employees are included and heard.

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Make Decisions with Data

With the time to hire in tech as high as 51 days, maintaining an efficient talent acquisition process is critical to being competitive in a small candidate pool. But efficiency isn’t about haste — it’s about data. With the world’s largest database of personality research, we can tell you what it takes to succeed in any job role. Let us crunch the numbers so you can select people who are not only equipped to do the work you need today but ready to reskill tomorrow.

Retain

Improve Employee Retention

Median tenure at some of the world’s largest tech companies is only one year. The predominant reasons people quit so quickly? Salary dissatisfaction and a lack of career development opportunities. The solution for retaining your best employees is easily decipherable: help them cultivate strategic self-awareness to work toward their goals. In the process, you’ll see greater organizational productivity and develop a stronger succession pipeline.

Industry Spotlight: Information Technology

Between the skills shortage and a turnover rate higher than any other industry’s, tech is facing historic challenges. But they’re not insurmountable. Proven strategies for talent management can give tech organizations the means to compete with businesses from other sectors.

As an international authority in the science of personality and a provider of evidence-based solutions for talent acquisition and development, Hogan has been partnering with organizations in information technology for decades to help them solve problems and achieve their goals. Check out a few examples of our work to learn more about how we can help.