The tech talent shortage has been in the making for many years, but now it seems to be getting worse.
According to a Korn Ferry study, the talent shortage could reach 85 million workers by 2030. This shortage includes those with a wide range of tech skills, including hardware and network engineers.
Depending on the business's niche and the operation's sensitivity, hardware engineers may be the most valuable asset.
For instance, telecommunication companies require engineers on-premises to work with critical infrastructure. The lack of such engineers puts the technology at risk, and companies may look at expensive downtimes and losses of millions.
So what can IT enterprises facing a shortage of engineers do in such a situation? The quick and easy answer is leverage professional services, like PivIT's EXTEND team.
But sometimes professional services can be a quick fix, but not necessarily the long-term solution an IT team leader is looking for.
In this article, we’ll discuss the following:
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Multiple factors have given rise to the tech talent shortage globally, but it’s found most prevalently in the United States, where it has reached a 10-year high.
From a lack of appropriate training to resignations because of unfair compensation, a wide range of reasons have contributed to this talent shortage.
The demand for technical skills, including software engineering, data engineering, and hardware engineering, has been increasing steadily. That’s because most businesses, even those that aren’t directly in the IT industry, require the services of such talent to keep their operations running smoothly.
The problem may be more apparent in North America, but other markets face the same issues. For instance, Israel, a fast-growing digital hub, faces a shortage of developers. There are similar issues in Europe as well.
Technology is moving at an unprecedented rate. But to make the best of those innovative technologies, you need qualified workers.
The ground reality is that the talent available in the market doesn’t have the right qualifications or skills to meet those technological needs. The problem isn’t that there is simply no talent but that there isn’t enough qualified talent.
The ongoing supply chain crisis has also worsened the situation, as the supply issues are causing project delays. Engineers, in particular, must wait for equipment to work on upcoming projects, resulting in a loss of productivity and morale.
The root causes are multiple and more complex. It may require strategic changes on different levels to resolve the problem, but until then, companies will continue to face IT talent shortages.
If we narrow in on engineer shortages, particularly hardware engineer shortages, the gravity of the issue becomes quite clear.
Currently, there are over 73,000 hardware engineers in the United States. But the job market for these engineers is expected to grow by around five percent by 2026. Those numbers are not very promising for a country whose economy relies on the IT sector.
Let’s take a look at how this shortage impacts the IT industry:
The lack of hardware, network, security, and support engineers can quickly become a severe issue for organizations that rely on them.
Consider data centers whose business solely relies on hardware to provide data storage.
They need engineers to complete upgrades, configure systems, and fix issues. They may face downtime if they don’t have enough engineers to work on their infrastructure. Downtime would cost $9,000 a minute in 2015, so one can only imagine the extent of the cost today.
According to a Gartner survey, a talent shortage is the most significant barrier to adopting new technologies. Companies cannot adopt emerging technologies because they don’t have the talent to support them.
Engineers, whether hardware or software, are critical for taking enterprises forward. Whether the company designs the products or simply provides services using products, the need for engineering talent can slow down innovation.
Engineers often carry out security checks for critical systems used within enterprises. If there aren’t enough engineers to assess IT infrastructure security, it is vulnerable to attacks.
Any enterprise relying on critical IT infrastructure and handling sensitive data needs foolproof security, and ensuring infrastructure security is an ongoing process. While there are tools to enhance cyber security, you need engineers for hands-on configurations on the hardware side.
The tech talent shortage has created a unique situation for IT teams already facing long lead times for equipment. While it may take some time for the talent and skill gaps to bridge, enterprises can adopt new ways to tap the talent they need.
As the talent pool is shallow, you’ll need to stand out to tap the existing talent. The new generation entering the job market expects better work and life balance. Just offering more money may not attract these new workers.
You’ll need to offer more comprehensive compensation for the job, which may include paid leaves (especially for new parents, both maternal and paternal), guaranteed pay for extra hours, and a healthy work environment.
The COVID-19 pandemic gave rise to the remote working culture. With the use of tools, working remotely has become easier than ever. Remote engineers from regions like South Asia, North Africa, and South America may help fill the skill gaps in IT teams.
Some IT engineering jobs may not be able to be performed remotely. For instance, network engineers must be on-premise to work on network components. That said, there are creative solutions for leveraging the expertise of engineers remotely, even for jobs that traditionally require physical presence.
Another plausible solution is to hire engineers temporarily on a project basis. One of PivIT’s professional services includes Smart Hands, which provides engineers on-site to implement projects and fill the gaps in project teams or extend their capabilities.
Smart Hands can bring PivIT’s highly experienced engineers to your team to help you bridge the talent gap, at least for a while. To help you get your projects over the finish line, PivIT’s engineers can lend their expertise in network, architecture, and security.
The best part is that you can get engineers on demand as and when you need them. So while you navigate the engineering talent shortage and find permanent talent, you can tap PivIT engineers through Smart Hands service quickly and get your work in order.
From implementing new products to fixing legacy equipment, these engineers can provide critical services for your operations to run smoothly.
PivIT can provide engineers in 48 to 72 hours in major regions like North America, Europe, and the Asia-Pacific, with various skill sets ranging from network to wireless to security.
This approach saves you time and money by avoiding the long hiring process or working with recruitment agencies. Similarly, this service is perfect for many organizations that don’t need hardware or network engineers permanently.
Tech talent and IT engineers are generally hard to find in many developed regions worldwide. The lack of technical training is the main reason behind this shortage, but there are geopolitical and economic factors.
The bottom line is that this shortage isn’t going away soon, and as the technical skill gaps widen in IT teams, enterprises may be looking at a lot of money left on the table simply because they don’t have enough talent.
When it comes to a need for hardware engineers, PivITs professional service Smart Hands can bridge the gap. It can provide temporary, on-demand engineers to improve your infrastructure and fix problems. Contact and take advantage of EXTEND services by PivIT today, and ensure you’ve secured the talent you need!