Skill Shortages: A Major Obstacle Impacting the IT Industry

The circumstances keep changing and never the same when it comes to opportunities and talent shortages within different sectors, especially the IT sector, where the need for a skill set is more. With rising technology, tools and digitalization, the skills gap is lacking and increasing day by day, resulting in the lowest unemployment rates in developed countries like the US.

Around 60 percent of employers are struggling to fulfil the vacancies led by different sectors because of a low skill set. This is the reason there are several sectors across the world facing the most significant skill shortages.

It is reported that by 2030, the global talent shortage could reach 85.2 million people, costing companies a huge loss of dollars in trillions and economic opportunities. Therefore, it is essential for employees and people who are out to secure jobs should match the required skills or be qualified enough to fill the skill gap and talent shortages. If you are the one who deals within the IT sector or looking for a job in the same, you must know the scenario of jobs and the IT industry.

Let’s have a closer look at some of the top IT sectors lacking skill shortages and hitting hard by the upcoming talent crunch.

Engineers and Architects

Engineers and architects are amongst the IT sectors where the skills shortages are increasing in automation and robotics. According to the latest report it has been stated that 140,000 new jobs between 2016 and 2026 need to be added within these IT sectors in segments like automation and robotics. As automation and robotics are getting evolved in this sector and employment in these segments is relatively low.

IT Computer Specialists

This is another segment where you can experience low skill shortages. According to the latest data, the software engineering jobs within this segment have risen by 24 per cent between 2016 and 2026, making clear that skill shortage is high.

Development Segment

With the rise in mobile and web development, the demand for it is not fulfilling, and the reason behind this is the lack of developers in the IT industry. Since development processes are tedious and require a pool of knowledge and expertise. Thus, people are opting less for this segment. According to the news by Forbes, the demand for developers will surge in the coming years, and we could see a shortage of talent.

AR And MR Architects

Augmented reality is a next-level technology that has managed to rule the world with its excellent benefits. But the shortage of experts knowledgeable in AR and MR is relatively low. This fantastic technology requires a new set of skills, experience observability which is lacking in the current professionals who still rely on old studies and techniques. With the launch of Metaverse, Many NFT Marketplace Development companies are hiring AR VR developers to strengthen the portfolio.

Cloud Technology

Cloud platforms are in trend and used by most businesses to keep their data and systems secured. This is why the demand for experts who are well versed in cloud technology is high. Be it cloud architects, cloud engineers, cloud security experts or cloud technicians; there are several job roles and vacancies due to people applying for the same. So the skill shortage in this sector is relatively high as compared to others.

Which IT Sector Is Experiencing The Biggest Skill Shortages?

There are ample sectors where you can view the skill shortages, but if we talk about the industry experiencing the skill shortage, the most important are artificial intelligence. The increased use of AI in every technology launched nowadays increased the need for experts to work on it.

I believe artificial intelligence specialists will continue to be a scarce commodity in our environment. As AI progresses day by day, the two most prominent roles, AI specialist and AI psychologist, will always be inadequate.

A recent report from Indeed.com reveals that AI job postings raised around 29.1% over the last year – and yet, no doubt due to the AI skills gap, the searches for AI-related jobs decreased by 14.5% over the same period.

AI technologies require out-of-the-box strategies and thinking; thus, people who deal with them should have vast knowledge. But nowadays, people are focusing more on other job roles and working in jobs that do not yet exist. This is the reason the scarcity of AI experts in the IT sector is highly impacting the ability of companies, industries, governments, and communities to realize the full potential of the world’s digital transformation.

What’s Behind the Shortage?

Now, if you know the segments where you can come across skill shortages, it is necessary to understand why it happens. When you come to know the reason behind the scarcity, you are more aware of where you can get the best opportunity and excel in your career. So. let read some of the reasons behind the shortage of skills in the IT sector.

The first reason behind the shortage of skills in the IT sector is the constant change in the global economy. The regular changes in the economy directly impact the opening and closure of jobs and opportunities in different sectors. The economy gives rise to the varying needs of the people and the need for experts for the same.

The other reason that brings the skills shortage to the forefront is the age factor. As people who are experienced IT specialists are stuck to old methodologies, tools and strategies. This is where their adaptability to new things is relatively slow, resulting in less skill set.

Innovation and other technology changes within any sector are other reasons that bring the rapid changes in the demand for job roles and skills required. There are times people lack the knowledge and their ability to maintain pace with the modern world. And this blackness is what brings the shortages within their skills and work ahead.

What’s the Best Way To Cope-Up With The Shortage?

Every industry has specific needs and different approaches to grow and eliminate the skills gap. Therefore, what is essential is to pay attention to those requirements and opt for those ways that can help to cope up with the IT skills gap.

Training Existing Employees

One of the simplest ways to get over the skill shortages is to provide training to existing employees. This can be done in a number of ways, from training them in-house via knowledgeable employees, transferring their expertise to colleagues who are willing and eager to learn or offering them courses related to skill development that can work. Training helps them to overcome the challenges that they face due to a low skill set, streamline their processes and enable companies to benefit more.

Enhancing Hiring Process

The other way that can help to cope up with the skill shortages is by working on the hiring processes. The better you hire, the better will be good for you. When hiring any employees, the company must pay more importance to the skills and employees have. Overlooking the skills may end up hiring employees with a low skill set, increasing the shortage within the industry. It is a must to test the skills before hiring the employees to make sure your business does not face skill shortages in the coming future.

Retention is Important

Employee retention in any sector is important to avoid the skill shortage within the IT sector. Whenever any person does not find the right company and moves from one to another, it becomes difficult for him or her to learn new skills and build an experience. But all this happens because the companies are not able to retain the employees. This is where the companies who are dealing with the IT sector must work out. It is necessary for IT consulting company owners to focus on staff retention and make sure the employees are encouraged to stay.

What’s Best Not to do?

Well, when it comes to what to not do within the IT sector to avoid skill shortages, then many of us get confused. But not now; regardless of your company size or working style, it is important to avoid the limitations in resources and learning. The more you provide the resources and learning platforms, the better it will give exposure to employees in enhancing the skill set.

Moreover, as a person who is out to secure jobs in the IT industry, they need to work on their skills, learn new things every day, increase the base of their skill set and move ahead towards a better future.

Final Thoughts

Eliminating the IT skills gap is a complicated task but is possible. There is a need to create more awareness, bring strategies and look for the digital approaches that can reduce the skill shortages. Whether the employees need to upskill themselves or companies need to improve the hiring process, things need to be done in order to get the desired results.

No doubt, the skill shortages have become a major obstacle within the IT sector and overcoming it is important to bring growth within the IT industry. Hope, with this informative post, you have got a more clear view about the IT skills shortages, the reasons behind them and the ways to overcome them to the deepest.