Are we short on IT talent? Almost all experts agree that we are.
Though the
experts agree to the talent shortage, there is a difference in opinion as to
the reasons.
Often, the
supply of employable graduates does not match the demand for the same.
Companies
also add to the deficit by outsourcing or offering a low payment. This fact is
especially true at the entry-level jobs. Companies usually overlook recent
college graduates as they lack professional experience.
As per the
U.S. Bureau of Labor Statistics, by the year 2020, there will be 400,000
graduates in computer science. The demand would be around 1.4 million. Thus
the US will fall short of 1 million computer grads by 2020.
Experts
are of the opinion that there can be other contributing factors as well. There
has been a noticeable general disinterest in pursuing technical careers. In the
U.S., many belonging to the Baby Boomer Generation are also leaving the
workforce. Born between 1944 and 1964, they are either retiring or facing
imminent retirement. In 2019, the population of the Baby Boomer
Generation in the U.S. is around 76 million.
Additionally,
there is a deficiency in graduates from the STEM stream.
Moreover,
there is a discrepancy between what is being taught in schools and the
requirements of the companies. Lecture-based education does not equip the
students with the necessary skills as well. Hence, companies prefer someone
with a hands-on experience than a fresh graduate.
Digital
transformation is fast-paced. One must adapt and re-skill to be suitable for
the ever-changing digital platform.
There is a
pressing need for coming up with workable solutions.
As such,
there is no single reason that can be held responsible for the IT talent
shortage.
Many
contributing factors have come together to cause this shortfall. Indeed, the IT
talent shortage is not a mere myth. It is a fact that must be dealt with
accordingly.
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