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High Demand Skills Win the Coming Talent War
February 5, 2013
Alan Radding, Big4.com Guest Blogger
(A book is the best way to build a consulting practice: ask about ghostwriting your book)
The next frontier in the ongoing talent war, according to McKinsey, will be deep analytics, a critical weapon required to probe big data in the competition underpinning new waves of productivity, growth, and innovation. Are your clients ready to compete and win in this technical talent war? Are you?
Similarly, Information Week contends that data expertise is called for to take advantage of data mining, text mining, forecasting, and machine learning techniques. The coming IT talent war can be a boom for Big4 consultants who can provide IT skills or find the IT talent their clients need.
Finding, hiring, and keeping good talent within the technology realm is the number one concern cited by 41% of senior executives, hiring managers, and team leaders responding to the latest Harris Allied Tech Hiring and Retention Survey. Retention of existing talent was the next biggest concern, cited by 19.1%.
This past fall, CA Technologies published the results of its latest mainframe survey that came to similar conclusions. The talent needs cross all platforms. It found three major trends on the current and future role of the mainframe:
- The mainframe is playing an increasingly strategic role in managing the evolving needs of the enterprise
- The mainframe as an enabler of innovation as big data and cloud computing transform the face of enterprise IT
- Demand for tech talent with cross-disciplinary skills to fill critical mainframe workforce needs in this new view of enterprise IT
Among the respondents to the CA survey, 76% of global respondents believe their organizations will face a shortage of skills in the future. Most acute would be the need for the newer technologies like Java, SOA, Linux, big data, analytics, mobile, and cloud.
The Harris survey was conducted in September and October 2012. Its message is clear: Don’t be fooled by the national unemployment figures, currently hovering above 8%. “In the technology space in particular, concerns over the ability to attract game-changing talent has become institutional and are keeping all levels of management awake at night,” notes Harris Allied Managing Director Kathy Harris.
The reason, as suggested in recent IBM studies, is that success with critical new technologies around big data, analytics, cloud computing, social business, virtualization, and mobile increasingly are giving top performing organizations their competitive advantage. The lingering recession, however, has taken its toll; unless your client’s data center has been charged to proactively keep up, it probably is saddled with 5-year old skills at best; 10-year old skills more likely.
The Harris study picked up on this. When asking respondents the primary reason they thought people left their organization, 20% said people left for more exciting job opportunities or the chance to get their hands on some hot new technology.
Some companies recognize the problem and belatedly are trying to get back into the tech talent race. As Harris found when asking about what companies are doing to attract this kind of top talent 38% said they now were offering great opportunities for career growth. Others, 28%, were offering opportunities for professional development to recruit top tech pros. A fewer number, 24.5%, were offering competitive compensation packages while fewer still, 9%, offering competitive benefits packages.
To retain the top tech talent they already had 33.6% were offering opportunities for professional development, the single most important strategy they leveraged to retain employees. Others, 24.5%, offered opportunities for career advancement while 23.6% offered competitive salaries. Still a few hoped a telecommuting option or competitive bonuses would do the trick.
Consultants can step in to play any or all these high demand roles, either on a short term basis or as a sustained, long term engagement. If you lack a particular skill, get trained fast. Or, enlist someone with the right skills as a partner to get you started, and the client will underwrite your training with the engagement.