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Tips to Deal With the Talent Shortage in the Tech Industry

The ever-changing environment of the IT business has been affected by a variety of circumstances, ranging from the effects of COVID-19 to the current great resignation. These incidents have exacerbated a longstanding issue for businesses: the talent shortage. The consequences of this scarcity are considerable, with many IT leaders expressing worries about applicant skills and the broader talent shortfall. As technology becomes more important in global enterprises, solving the talent shortage has become critical. While some firms focus on short-term solutions to recruit and retain tech talent, such as competitive compensation and perks, forward-thinking enterprises are experimenting with novel ways. This MIT Technology Review article discusses one such unorthodox technique for dealing with the ongoing talent shortage in the industry.

How organizations can compete with the ongoing talent shortage challenge

The persistent IT talent shortage triggered by COVID-19 and the Great Resignation, according to the article, is harming businesses, with 64% of global IT leaders claiming that IT and tech job hopefuls frequently lack the required skills and experience. According to the article, the adoption of innovative technologies is clearly a dearth of tech skills in individuals. The article suggests that organizations compete by offering competitive pay, perks, and working conditions to meet this shortfall. However, some forward-thinking technology executives are experimenting with new techniques, such as targeting individuals earlier in their career path, like recent high school grads, and developing early-career programs.  Finally, the article claims that the conventional college-to-career path is under threat owing to the high expense of university education, which may hinder diversity in the IT industry.

The persistent tech talent shortage continues to challenge organizations, but innovative solutions are emerging. Read through the preceding text to get to know more.

MIT PE Artificial Intelligence and Machine Learning


Cherish Kaur

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