IT talent shortage Is 'wreaking havoc' on the enterprise

Ninety percent of C-level executives agree that recruiting and retaining technology talent is a top business challenge, according to a new survey by Appirio, a global cloud services company and leader in enterprise crowdsourcing. Developed in conjunction with Wakefield Research, the IT Talent Wars and the Gig Economy Survey explores how the gig economy is impacting enterprise IT by examining key drivers in the war for talent, and outlining worker expectations for retention and workplace satisfaction.

Based on responses from 200 C-level executives and 200 IT staff in the US and UK, Appirio's report finds that more than half of IT staff have already worked in the gig economy in some manner, yet C-level executives believe just 28 per cent of employees supplement their full-time job with gig-based work. While the C-Suite admits that finding top talent is a significant barrier to business growth, executives see the shift towards gig-based work as a threat instead of an opportunity, with 77 per cent responding that the gig economy will result in the loss of IT staff.

“The intense competition for tech talent has placed a major strain on the enterprise, and it’s costing companies millions,” said Chris Barbin, CEO of Appirio. “Those in the tech and services industries spend too much time talking about the systems they are implementing, and not enough on the talent needed to architect, develop, or manage those systems. The way organisations add technical capabilities — such as mobile app development and data science — is changing due to a rise in gig-based employment and the changing demographics of the workforce. This needs to be a bigger topic of discussion among the C-Suite in any size business.”

The IT Talent Wars and the Gig Economy survey highlights the constant battle against talent turnover, which hinders overall productivity and innovation. Survey results include:
More than one-third of HR budgets are dedicated specifically to recruiting and retaining technical talent
At least 25 per cent of projects are abandoned altogether because of IT capacity limitations, and projects that are eventually finished are delayed an average of 5 months
The top three criteria IT staff look at when evaluating new job opportunities are a well-resourced IT department, up-to-date technology, and flexibility
Eighty-four percent of C-Suite respondents believe the economy will shift toward gig-based work over full-time work by 2050

To bridge the talent gap and meet demands of both businesses and employees, many companies are embracing crowdsourcing. Nearly 70 per cent of enterprises have implemented crowdsourcing within their organisation in some capacity as a way to get access to on-demand expertise and modernise their workforce.