Tech’s Hiring Crisis - What You Should Know to Stay Ahead

Back to blog

After countless LinkedIn messages, referral follow-ups, and job board posts, you’ve come up with…nothing. Not one qualified candidate for your open role. You start to wonder if there’s anyone out there that fits your job description.

You’re not alone in feeling frustrated with the lack of options when hiring in tech. It’s estimated that the unemployment rate for tech workers is 1.7% compared to 4% of the general economy. Between inflated salaries and competing offers, it can feel like you don’t stand a chance of attracting top talent.

So, it’s time to get creative. The talent you need is out there, you just have to learn how to find tech talent. Your next talented hire may not fit your idea of the typical “tech” worker you so desperately seek. We’ll learn how unconventional hiring practices will not only help you find a way out of the hiring crisis but also allow you to hire incredible assets to your team. 

 

 

Why is the Tech Hiring Crisis Happening?

A dizzying job market over the past two years makes it hard to understand how we arrived at such a hiring crisis in tech. But like many tumultuous issues in the workforce, it starts with the advent of the pandemic. As tech workers quickly became remote workers, they realized they enjoyed the flexibility of their new lifestyle. 

So much, in fact, that tech talent quit in droves as management rolled out their return to office plans. Up to 3 in 5 tech workers said they were uninterested in a full-time back-to-office work model. Cue The Great Resignation.

 

As highly skilled workers found new opportunities, it became clear that the tech industry had a hiring problem. The Great Resignation helped reveal the shortage of skilled talent. Data literacy, for example, is an extremely sought-after skill in tech. With massive salaries and attractive hybrid work options, techies fluent in data were quickly swept up by recruiters.

When essential skills are in high demand but low in inventory, companies suffer. Just 40% of tech talent say they’ve been equipped with the data skills they need to do their jobs. Meanwhile, 82% of leaders expect their teams to have basic data literacy skills. Clearly, a skill disconnect between current tech employees, freelancers and their employers exist. Plus, top talent is swept up with attractive six-figure salaries and flexible work options. Companies that don’t offer these perks get left in the dust. 

 

How to Navigate Scarce Talent

Instead of getting upset about the candidates you’ve lost to competitors, it’s time to try something new. The current hiring crisis requires innovation. Tech companies need to reevaluate how they define talent and who they’re willing to recruit. With a few tweaks to your process, you can find the next visionaries to fill skill gaps on your team.

 




  • Get Flexible on Job Requirements

In a skill-based economy, creativity is required with your job descriptions. Despite the need for hard skills, many companies still rely on degree requirements. While a college degree is still important, many tech companies have found success by giving skilled candidates without degrees a chance. As companies like Google and Apple pivot away from degree requirements to tech-related skills, they’ve found success with their approach. 

Diversity in your hiring pool means you’ll get input from people with different perspectives. Up to 68% of business leaders in tech report that there is a lack of diversity when hiring in tech. Be a part of the future by hiring diversely across all genders, ethnicities, and socioeconomic backgrounds. 

 

 

  • Focus on Culture

Have you ever directly asked yourself what your company’s culture is? Shockingly, it’s estimated that only 28% of executives understand their company’s culture. If leaders and human resources are repeating vague talking points about your company’s determination and drive, top talent won’t be impressed. Now is the time to future-proof your company with an engaging and exciting culture. Work on establishing a defined culture with a progressive philosophy. 

Work policies, perks, and values should align with your culture. If you say you’re progressive, you should have a vision and mission to match your philosophy. An incredible place to work won’t just happen, you have to build it.

 



  • Protect Your Talent

Technical recruiters are well aware as to how hard it is to find top talent. So don’t neglect the high-performers you already have. Conduct market research to ensure your workers are being paid fairly for their roles. If you don’t keep them happy, a recruiter can easily offer them a more attractive package. The same goes for benefits. Extended family leave, flexible work models, and unlimited time off are all popular perks that keep employees happy.

 

  • Commit to Professional Development

The tech industry should be comfortable with automation more than anyone else. As innovation happens, jobs will change. In fact, 87% of executives report that they’re either experiencing skill gaps now or expect to see them in the next few years. Get proactive with your team to address these skill discrepancies.

Top tech companies have implemented reskilling programs for their employees and freelancers. Some organizations create a curriculum with the most important hard skills and teach in a bootcamp course. Whatever your training looks like, make it digestible for entry-level and mid-career talent. Not only will you make them more well-rounded team members, but your company can also be at the forefront of innovation with their newfound skillsets.

 

  • Invest in On-demand Professionals

If your recruiters have struggled to gain the attention of full-time employees, it’s time to look toward talented on-demand talent. In a shallow hiring pool, freelancers help bridge the skill gap that so many recruiters struggle with. You can staff projects or long-term consultant and temp work with trained and vetted professionals.

Let Oomple help you find the staffing you need. Our freelancing platform allows you to hire on-demand professionals in tech and beyond. Book a call with one of our Account Managers to get started!

 

Book a call