Why Retaining Top Tech Talent Is A Huge Problem Across All Industries

Wondering why it’s so hard to retain the top IT talent that you managed to recruit for your startup? It isn’t just you; even tech giants are struggling to keep high-caliber IT personnel in the company.

A report released in 2019 by the Federal Reserve District found that the IT sector has one of the tightest labor markets; the demand is significantly higher than the supply and job seekers have bargaining power. Not only does the demand for IT professionals exceed the supply, but the skills gap is also expanding faster than any other industry.

The skills gap and high-turnover amongst IT professionals isn’t just a problem for your company, but also the giants that dominate the tech industry. In a business environment where companies have to adopt technology to stay competitive, the demand for IT professionals has grown exponentially; companies must find top talent and retain it too.

Let’s take a look at why retaining top IT talent is becoming so difficult:

The Growing Demand for IT Professionals

Reports show that the demand for IT professionals goes beyond Silicon Valley and IT companies; organizations across all industries need highly-skilled IT personnel to help them adopt technology.

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The growing demand for IT professionals makes the talent pool even thinner than it already is.

Intense Competition

Since competition is so intense, IT professionals have the freedom to hop jobs as they please. Companies offer attractive packages that include free meals and high-end offices. Even giants like Facebook and Uber have a difficult time retaining employees—most IT personnel only stay a couple of years in these companies before they decide to jump ship.

Skills Gap

There is a serious gap between the number of people with degrees in computer science and the type of skills companies are looking for. Students that have gone to studies computer science through a 4-year program in college usually graduate with a set of skills that aren’t always relevant.

Also, many developers in the industry are self-taught, however, they lack the experience and hours needed to refine their skills and make them suitable for positions in leading companies.

If you’re an organization in New Hampshire that’s struggling to find qualified IT professionals, contact New England Staffing Agency. We provide recruitment services for companies looking for IT professionals. We also help IT professionals connect with organizations that are specifically looking for the skills they offer.

Contact us for more information.

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