EIU98 - WF - TechTalentGap - DV7 · 2019-02-28 · Of tech hiring managers and recruiters Of tech...

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1 icims.com/hiring-insights/for-employers/ebook-shifts-trends-in-tech-talent-qualifications-needs 2 business.linkedin.com/talent-solutions/blog/trends-and-research/2018/the-3-industries-with-the-highest-turnover-rates 3 research.hackerrank.com/tech-recruiting/2018/ 4 trends.envoyglobal.com/ 5 pewresearch.org/fact-tank/2017/04/27/key-facts-about-the-u-s-h-1b-visa-program/ 6 pewresearch.org/fact-tank/2018/03/29/h-1b-visa-approvals-by-us-metro-area/ 7 deloitte.com/us/en/pages/deloitte-private/articles/technology-trends-middle-market-companies-survey.html Sponsored by © The Economist Intelligence Unit Limited 2019 NAVIGATING THE TECH TALENT GAP Executives everywhere report mismatches between available technology talent and their needs. Meanwhile, tech hubs have sprouted up all across the country. What does this mean for companies that want to recruit technology talent and partner with local firms to manage the rapid pace of technological change? 45 % 75 % 13 % 70 % have hired a great candidate who doesn’t have a traditionally strong resume, eg, a prestigious education. And experience, such as personal projects, ranks higher in importance than having a computer science or relevant degree.3 say that in the next two years a coding boot camp will be as relevant of a qualification as a college degree.1 Going forward, tech companies, particularly ones that may not have the name cachet to easily find talent, can broaden their talent search criteria. Searching for skills as measured by LinkedIn members who left their companies.2 say sourcing foreign employees is important to their talent strategy.4 The tech industry has a particularly strong need for high-skilled foreign workers. In fact, 75% of H-1B visa applications are for jobs requiring high-level computer knowledge.5 But the H-1B visa program is not limited to tech hubs like Silicon Valley. The San Francisco metro area has the same number of H-1B visa approvals (11,300) as Durham, NC, and fewer than other metropolitan areas such as Detroit and Atlanta. Ranking of metro areas with the highest number of H-1B visa approvals per 100 workers Despite political challenges, the H-1B visa program remains an important route for firms to add the talent they need. Beyond borders Of tech hiring managers and recruiters Of tech hiring professionals 45 % say the majority of technology roles at their companies did not exist two years ago.1 Of tech hiring professionals Software technology has the highest annual turnover rate of any industry 74 % have increased their hiring of freelance workers over the past two years.1 Of tech hiring professionals say the gig economy has allowed for more agile product/service development.7 Top strategies among middle-market tech companies to get the most from future workers:7 62 % Of middle-market tech companies The future of work 63 % 58% 55 % Developing new talent strategies to attract, recruit and retain inclusive workforces: Enhancing learning and development: Focusing more on workplace flexibility and wellbeing: San Jose College Station, TX Trenton, NJ Durham, NC Dallas Boston Washington DC New York City 2 4 3 Ranking of metro areas with the highest number of H-1B visa approvals 2010-166 5 3 2 1 4 1 5 Of employers 1 = highest ranking

Transcript of EIU98 - WF - TechTalentGap - DV7 · 2019-02-28 · Of tech hiring managers and recruiters Of tech...

Page 1: EIU98 - WF - TechTalentGap - DV7 · 2019-02-28 · Of tech hiring managers and recruiters Of tech hiring professionals ˜˚ ˛ say the majority of technology roles at their companies

1 icims.com/hiring-insights/for-employers/ebook-shifts-trends-in-tech-talent-qualifications-needs2 business.linkedin.com/talent-solutions/blog/trends-and-research/2018/the-3-industries-with-the-highest-turnover-rates3 research.hackerrank.com/tech-recruiting/2018/4 trends.envoyglobal.com/5 pewresearch.org/fact-tank/2017/04/27/key-facts-about-the-u-s-h-1b-visa-program/6 pewresearch.org/fact-tank/2018/03/29/h-1b-visa-approvals-by-us-metro-area/7 deloitte.com/us/en/pages/deloitte-private/articles/technology-trends-middle-market-companies-survey.html Sponsored by

© The Economist Intelligence Unit Limited 2019

NAVIGATING THETECH TALENT GAPExecutives everywhere report mismatches between available technology talent and their needs. Meanwhile, tech hubs have sprouted up all across the country. What does this mean for companies that want to recruit technology talent and partner with local firms to manage the rapid pace of technological change?

45%

75%

13%

70%

have hired a great candidate who doesn’t have a traditionally strong resume, eg, a prestigious education. And experience, such as personal projects, ranks higher in importance than having a computer science or relevant degree.3

say that in the next two years a coding boot camp will be as relevant of a qualification as a college degree.1

Going forward, tech companies, particularly ones that may not have the name cachet to easily find talent,

can broaden their talent search criteria.

Searching for skills

as measured by LinkedIn members who left their companies.2

say sourcing foreign employees is important to their talent strategy.4

The tech industry has a particularly strong need for high-skilled foreign workers. In fact, 75% of H-1B visa applications are for jobs requiring high-level computer knowledge.5

But the H-1B visa program is not limited to tech hubs like Silicon Valley. The San Francisco metro area has the same number of H-1B visa approvals (11,300) as Durham, NC, and fewer than other metropolitan areas such as Detroit and Atlanta.

Ranking of metro areas with the highest number of H-1B visa approvals per 100 workers

Despite political challenges, the H-1B visa program remains an important route for

firms to add the talent they need.

Beyond borders

Of tech hiring managers and recruiters

Of tech hiring professionals

45%say the majority of technology roles at their companies did not exist two years ago.1

Of tech hiring professionals

Software technology has the highest annual turnover rate of any industry

74%have increased their hiring of freelance workers over the past two years.1

Of tech hiring professionals

say the gig economy has allowed for more agile product/service development.7

Top strategies among middle-market tech companies to get the most from future workers:7

62%Of middle-market tech companies

The future of work

63%

58%

55%

Developing new talent strategies to attract, recruit and retain inclusive workforces:

Enhancing learning and development:

Focusing more on workplace flexibility and wellbeing:

San Jose

College Station, TX

Trenton, NJ

Durham, NC

Dallas

Boston

Washington DCNew York City

2

4

3

Ranking of metro areas with the highest number of H-1B visa approvals 2010-166

5 3

21

4

15

Of employers

1 = highest ranking