IT executives: pace of digital transformation exacerbates skills shortage

A survey commissioned by Equinix, a global digital infrastructure company, has found that IT leaders worldwide are seriously concerned about retaining and hiring employees. According to the Equinix 2022 Global Tech Trends Survey, 62 % of IT decision-makers worldwide (54 % in Switzerland) see IT skills shortages as one of the biggest threats to their organizations. Organizations - including Equinix - are looking to expand the talent pool and attract a greater variety of candidates through alternative recruiting measures. The 2,900 respondents - including 100 from Switzerland - acknowledged that the speed at which the technology industry is changing is making it difficult for companies to find employees with the right skills to meet current and future challenges.

Many applicants with the wrong qualifications

The most common concerns were candidates applying for jobs with the wrong skills (44 % globally and in Switzerland) and the need to retain current talent (44 % globally and 47 % in Switzerland). Among these, IT professionals (27 % globally / 25 % in Switzerland), cloud computing specialists (26 % globally / 17 % in Switzerland), and AI and machine learning professionals (26 % globally and in Switzerland) are the most in-demand professionals. Other shortages are in data analytics (21 % globally / 17 % locally), data protection (21 % globally / 19 % locally), security software development (19 % globally / 9 % in Switzerland), and security analytics (18 % globally / 21 % locally). IT leaders expect the technical skills gaps to remain similar in the future, with AI and machine learning becoming even more prominent.

Keri Gilder, CEO Colt Technology Services, explains, "Finding the right skills is a real issue in the technology industry, especially in software. The reality is that with the softwarization of services, all industries are looking for the same skilled workers. One of the challenges is the lack of awareness among young talent about the opportunities that the technology sector offers. Connectivity providers don't come up in many use cases - even at the university level - although a lot is being done in areas such as undersea, satellite and fiber optics. We need to think about talent together and work as an industry to include all those waiting for an opportunity as well."

Using retraining to combat the shortage of skilled workers

In response to the shortage of skilled workers, many companies are making intensive efforts to retrain employees from other sectors. For example, 62 %s (39 %s locally) reported retraining employees from similar industries, while 34 %s (21 %s locally) are seeking to augment their workforce with employees from non-industry sectors. Given recent layoffs and furloughs that may prompt workers to seek opportunities to improve their skills or careers, technology companies that offer training and development opportunities may be better positioned to attract talent.

The most common sources of retrained workers are administration and business support (36 % globally / 21 % in Switzerland), finance and insurance (33 % globally / 25 % locally), and people returning to work after an absence (30 % globally / 13 % locally). These retrained workers can help companies fill gaps in the technical field by working as IT professionals (51 % global / 48 % local), in cloud computing (36 % global / 30 % local) and in data analytics (35 % global / 24 % local). Study contractor Equinix also offers a range of career transition or career change programs as part of its Career Pathways portfolio.

IT executives: "Investing in talent pays off"

Companies also try to attract new employees through higher education and training programs. IT executives around the world indicated that when working with higher education institutions, their companies primarily offer internships for students (42 % / 38 % in Switzerland), conduct joint training programs with higher education institutions (41 % globally / 25 % locally), participate in higher education career fairs (37 % / 24 % locally), and partner for training programs (34 % / 26 % locally).

Roger Semprini, Managing Director, Equinix, Switzerland: "Investing in people and talent always pays off, especially in uncertain times. Now, with economic uncertainties looming, the first instinct of some business leaders is to save on things that are not 'essential for survival', such as hiring new employees or investing in their professional development. From our perspective, this mentality is short-sighted. We invest heavily in talent." Brandi Galvin Morandi, Chief Legal and HR Officer at Equinix, said, "The survey shows that mismatched skills are hindering talent acquisition in technology-focused teams around the world. There is a general lack of understanding of the specific skills required for certain roles, and potential candidates need better guidance on education, preparation and employment opportunities. This challenge gives our industry an opportunity to recruit and develop talent in a different way, and it's something we've been working on for the past few years. We believe companies should promote a progressive talent development plan for tech positions that appeals to both inexperienced and trained candidates."

Source: Equinix