Tackling the tech talent shortage: Innovative strategies for the modern age

Organizations need to think outside the box when it comes to hiring strategies amidst the tech talent shortage. By exploring remote work options, investing in continuous learning, and hiring for soft skills, companies can navigate this challenge and secure the best tech talent available.

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Navigating the tech talent shortage

As 2023 winds down, we look at the tech talent shortage dilemma. With technology permeating nearly every aspect of our lives, it's no wonder that the demand for skilled professionals is skyrocketing, while the supply struggles to keep pace.

In response to this, companies are creatively reimagining their hiring strategies. One of the key takeaways from the piece is the importance of adapting to and understanding what workers want.

Embrace remote hiring

With the COVID-19 pandemic accelerating the shift to remote and distributed teams, companies have realized the potential of accessing talent globally. Embracing remote work allows organizations to cast a wider net and tap into a vast pool of skilled professionals beyond their geographic constraints.

Forbes reported that as of 2023 12.7% of employees work from home, and the trend will increase steadily in the upcoming years. While workers’ preference for remote work aligns with this trend, a staggering 98% of workers expressed the desire to work remotely, at least part of the time. This remarkable statistic demonstrates the increasing popularity of remote work among workers, who value the freedom, independence, and improved work-life balance that it provides.

The importance of offering flexibility cannot be understated, and tech professionals have come to expect it. In fact, research shows that 52% of tech talent prefer a remote-first model, and a third wish to work fully remote indefinitely. Additionally, 46% of tech employees admit they’d consider leaving an organization that stopped offering the flexibility to work remotely.

Your organization should consider providing more flexible work options. However, if your company prefers in-person work, make sure it's scheduled around important team-building and coordination moments, rather than arbitrary mandates from higher-ups.

Invest in innovative training programs

To further tackle the talent crunch, companies are adopting a continuous learning mindset. In an ever-evolving tech landscape, where emerging skills quickly become outdated, organizations invest in upskilling and reskilling programs for their existing workforce. This not only enhances employee retention but also helps create a pool of internal talent who can step up and fill critical roles when needed.

IBM, a frontrunner in tackling the skills gap, has taken a unique approach through its "new collar" jobs initiative program. IBM created the program for its growing workforce of 360,000 employees by prioritizing skills over degrees and providing extensive training to potential hires.?

By looking at the growing number of tech jobs to be filled versus the students graduating from traditional universities with computer science degrees, the growing gap calls for new ways to bring candidates in. Kelli Jordan , Vice President IBMer Growth and Development at IBM, said that meant community college partnerships, initiatives like P-TECH, digital credentialing programs, and their own apprenticeship programs.?

IBM predicts that more than 120 million workers in the world’s 12 largest economies may need to be retrained or reskilled in the next 3 years as a result of AI-enabled automation.?

As workplaces find they need skilled tech workers, it becomes clear that the implementation of an enriched employee development plan is not just a choice, but a prerequisite in today’s fast-paced business world.

Recommended reading: Increasing business excellence through an employee training program

Hire for enduring human skills, train for technical skills

While technical skills are the number one requirement for a software engineer position, soft skills are not far behind. In fact, they may make or break the success of your candidate too. At the end of the day, this role entails working in and supervising a team where it’s important to possess a certain set of qualities.

Looking back to LinkedIn’s 2023 Most In-Demand Skills, the top four in-demand skills are management, communication, customer service, and leadership. These soft skills top the list before hard skills. Why? These skills are crucial for professionals to thrive in the current hybrid work environment. With remote and hybrid work, the importance of human connection and communication skills has only increased, and companies are in need of professionals who excel in these areas.?

德勤 explains that with technical skills becoming outdated every 2.5 years on average, hiring for current tech skills may not be a winning long-term strategy. As technology specialists advance in their careers, it’s important to also consider their leadership and empathetic qualities when evaluating their performance. Digital expertise and specificity remain crucial, but they should not be the sole focus.

So, how can HR professionals effectively test these intangible qualities? One approach is through situational and behavioral interviews, where candidates are presented with hypothetical scenarios to gauge their problem-solving abilities, communication skills, and adaptability.?

Additionally, group exercises and role-playing activities can provide insights into a candidate's teamwork capabilities and leadership potential. Psychometric assessments and personality tests can help HR professionals gain a deeper understanding of a candidate's behavioral traits and how they align with the company's values.?

By employing a combination of these techniques, HR professionals can gain valuable insights into candidates' soft skills and make informed decisions when selecting the right talent for their organizations.

Recommended reading: How to hire (great) software engineers

Upcoming Webinar: Adapting to AI-Driven Workforce Changes??

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Tune in to our webinar with Gethin Nadin of Benefex , Francesca Tabor of Fashion AI , and our own Dimitris Adamidis at 12 PM BST/1 PM CET to learn about the future of work and navigate the AI revolution.

Our panelists will offer their unique perspectives on the impact of AI on work and what the future holds for the rapidly evolving technology. They’ll cover the crucial skills needed to thrive in an AI-focused workforce, the role that continuous learning and upskilling play in today’s market, plus loads more.???

Written by: Alexandra Paasch