Tech Talent Shortages Loom Large for IT Industry

thumbnail Tech Talent Shortages Loom Large for IT Industry

Tech jobs High Marks The overall confidence rating in the tech sector among execs is 71.9 out of 100, up from 66 in 2013. Meanwhile, they gave their own companies a 72.2 rating, up from just under 68.8 last year. Booming Business 62% are planning to increase investment in new products and business lines, up […]

Dec 10, 2014
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Tech jobs

1 - High MarksHigh Marks

The overall confidence rating in the tech sector among execs is 71.9 out of 100, up from 66 in 2013. Meanwhile, they gave their own companies a 72.2 rating, up from just under 68.8 last year.

2 - Booming BusinessBooming Business

62% are planning to increase investment in new products and business lines, up from 59% in 2013.

3 - IT ExpansionIT Expansion

58% expect to increase staffing levels in tech positions, and 52% anticipate increasing spending for tech itself. Both percentages are close to last year’s levels.

4 - Personnel ProblemPersonnel Problem

Nearly three-quarters of tech and business execs in the IT industry said they’re dealing with a “moderate” or “significant” shortage in tech talent quality—up from 69% in 2013.

5 - Staffing SituationStaffing Situation

47% are concerned that a talent shortage, labor prices and employee churn could slow business activity, up from 34% last year.

6 - Slashing Price TagsSlashing Price Tags

38% are concerned that lower margins and downward pressure on pricing could slow business activity, which is about the same as last year.

7 - Growth DriversGrowth Drivers

57% said the local quality of life contributes most to a healthy tech sector in a particular region, and 44% said it’s the region’s state of entrepreneurship/innovation ecosystem. One-third said it’s the availability of a skilled workforce.

8 - Public Policy Wish List: Educated OpinionPublic Policy Wish List: Educated Opinion

43% said science, technology, engineering, and mathematics (STEM) education needs to be improved for 2015 at the K-12 level, and 44% said the same needs to happen at the higher education level.

9 - Public Policy Wish List: Well-FundedPublic Policy Wish List: Well-Funded

36% would like the government to make it easier for tech companies to access capital.

10 - Public Policy Wish List: IRS IssuePublic Policy Wish List: IRS Issue

28% said the tax code is too complex—requiring too much time of businesses in managing their taxes.

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