Data obtained from a Rimini Street study with CIOs reveals that 51% of managers and above (i.e., those who make hiring decisions) are concerned about potential technology staffing shortages.
37%
of companies have experienced project delays or cancellations due to a lack of available IT talent.
36%
reported productivity problems.
28%
said they have missed opportunities to grow the business.
The top two skills organizations plan to hire are Artificial Intelligence (88%) and cybersecurity (61%). Unlike previous years where cybersecurity was sought after by 49%, along with cloud-multicloud by 47%.
Context in Canada
A staggering majority, with 89 percent of Canadian employers, foresee grappling with hiring challenges in 2024, as per the latest survey conducted by Express Employment Professionals.
Among the primary obstacles encountered
45%
of employers highlight the arduous task of securing qualified candidates, making it the foremost hurdle.
This is closely trailed by the surge in job market competition, acknowledged by 25 percent of employers.
Additionally,
24%
voice concerns over uncompetitive pay
23%
lament the mismatch between the available talent pool and their specific requirements
21%
bemoan the lack of competitive benefits.
Furthermore, more than a third, precisely 36% of employers, are confronted with unfilled job positions, predominantly attributed to the absence of qualified applicants possessing the requisite skills.
45%
absence of the requisite hard skills.
36%
lack of relevant experience.
26%
lack of soft skills.
Likewise, over half, marking 56%, of job seekers resonate with the challenge of identifying job opportunities commensurate with their qualifications. The deficit in required hard skills stands out at 26%, alongside 13% of soft skills, and 13% of communication skills for vacant positions.
How do we intend to tackle this burgeoning issue? At Xideral, we envision two strategic pathways:
Embrace Nearshoring: We propose hiring individuals from various regions across Latin America. Through extensive research, we have identified seedbeds and universities in Latin America offering educational standards equivalent to renowned international institutions.
Foster Training Initiatives: Latin America harbors vast untapped talent pools, often hindered by limited specialization opportunities. Swiftly cultivating competitive teams through accelerated training programs is viable and promising. Imagine nurturing teams equipped with both technical prowess and essential soft skills within a matter of weeks. Investing in talent development ensures our market resilience in the foreseeable future.
Angela Espinosa
People, Culture and Communications manager