The ability to maximize a company’s technology investment is essential in today’s ultra-competitive marketplace. Data-driven organizations rely on their IT environments to handle many aspects of running their business. In addition to streamlining operations through advanced technology, companies need to use their data resource productively to make decisions, identify market trends, and deliver satisfying customer experiences.
An organization’s IT environment is only as good as the people staffing it. This means that a company needs to attract, hire, and retain the right technical talent to optimize its technology. Without the necessary technical resources, an organization cannot expect to compete effectively with market rivals. They will not be able to use technology to their advantage to the same degree as better staffed companies.
Why is it Hard to Find the Right Technical Talent?
Addressing the gaps in a company’s technical talent requires them to identify and hire the right candidates. This is easier said than done. Several factors make it difficult to locate the right personnel and attract them to a company. These difficulties can be even more pronounced for smaller organizations or those located in rural areas.
The following major challenges make it hard to find the right technical talent.
- The great resignation – Beginning in 2021, a large number of employees began to consider leaving their jobs. More than 24 million American employees voluntarily left their jobs between April and September 2021. With numerous potential employees dropping out of the job market, the available talent pool has become considerably smaller. This employment exodus appears to be driven by multiple factors that include:
- A toxic corporate culture that fails to promote diversity, inclusion, and respect for the worker;
- High levels of innovation in an organization that result in high levels of stress and long working hours;
- Failure to effectively recognize employee performance;
- Poor response to the COVID-19 pandemic.
- A general shortage of technical talent – The effects of the great resignation are exacerbated by a general lack of available technical talent. Fewer potential employees are choosing to obtain the technical skills required to become effective IT professionals. This makes it harder to find the right person to fill a company’s vacant IT positions.
- Increased competition for available candidates – The previous two factors have reduced the available talent pool and dramatically increased competition for highly qualified candidates. This allows potential employees to be exceptionally selective regarding the positions in which they are interested. Organizations that do not offer competitive compensation and perks will typically attract little attention for their open tech positions. This puts smaller companies at a disadvantage, as their compensation packages may not be able to compete with larger companies with deep pockets.
- A rise in freelancing and entrepreneurship – Many employees who have chosen to opt out of traditional employment opportunities have decided to go it alone and embark on a career as a freelancer or entrepreneur. Companies may be able to hire these individuals for short-term projects, but they may not address the long-term issues of putting together a viable and skilled in-house IT staff.
- Slow hiring processes – Companies can lose potential candidates due to a slow and inefficient hiring process. Once a viable candidate is identified, an organization needs to act quickly to ensure they close the deal. A streamlined hiring process indicates respect for the candidates’ time and reduces the chance they will be swayed by offers from other employers.
Why is it Difficult to Retain Top Technical Talent?
Once the challenges of finding the right talent to fill a company’s technology skill gaps are addressed, the organization needs to provide the right environment to retain these employees. Keeping top technical talent happy and motivated to stay with a company has its own set of difficulties that must be overcome.
- Talent poaching – The difficulties in hiring top technical talent often result in qualified employees being deluged with offers from competing organizations. Invariably, the offer will include increased compensation and may involve additional perks such as the ability to work remotely or extra vacation time. The best way for companies to reduce the chances of talent being poached is to maintain competitive compensation packages and effectively address any concerns raised by the workforce.
- Poorly defined job descriptions – Employees expect to be hired for a specific role as indicated in the job description. Individuals who find themselves being asked to assume different responsibilities than those they signed on for may be motivated to leave for a more stable position.
- Minimal opportunities for job growth – Talented employees often look for opportunities to grow their skills and advance to new and interesting positions. Companies that do not offer a viable route to internal promotion may find their best employees leaving for greener pastures.
- Lack of educational opportunities – Related to providing room for growth is the need to offer opportunities for employees to develop new skills that may not be directly related to their current position. When done effectively, the needs of employers and employees can both be met by offering diverse training and educational opportunities. Promoting the growth of technical skills that address career growth and the needs of the company can help retain talented individuals.
How Managed Services Can Address the Talent Gap
The challenges in hiring and retaining technical talent can be very detrimental to an organization’s ability to take advantage of emerging technologies that can optimize and grow its business. Fortunately, there is a solution that eliminates these difficulties and furnishes a company with the technical resources it needs to thrive.
Engaging a managed service provider (MSP) like VAST IT Services can solve your company’s difficulties in attracting and retaining in-house technical talent. VAST’s technical teams can fill the gaps and allow your business to obtain the maximum value from its IT investment. By eliminating staffing concerns, a company can concentrate on the core activities that grow its business.
Contact VAST to discuss how your business can take advantage of VAST’s skilled and experienced technical talent. Your company can quickly address skill gaps and take advantage of cutting-edge technology that may have been previously beyond its reach.