Tech Industry Struggling With Talent Gap
On the Upswing
The overall business sentiment rating is 50.8 among global tech company execs, but it is expected to rise to 54.6 within the next six months.
Made in the USA
The 56.4 business sentiment rating in the U.S. is more than 10 points higher than it was a year ago.
Ramping Up
57% of tech and business execs worldwide anticipate increasing staffing levels in technology positions over the next six months.
Personnel Problem
69% feel there is a shortage of availability in terms of needed tech talent.
Falling Short
Two-thirds feel the tech sector is underperforming and not reaching its potential.
Incoming Supply
34% say it’s likely they’ll hire more foreign workers if they become available over the next 12 months.
Acquisition Mode
59% expect that their organizations will increase investment on new products and business lines over the next six months, and 51% will increase tech spend during this period.
Minority Opinion
Only 23% anticipate cost cutting within the next six months.
Top Concerns About Future Business ProspectsGeneral lack of confidence and paralysis: 44%, Government regulations: 42%, Lower margins and downward pressures on pricing: 38%
Public (Dis)service
45% say the federal government represents the interests of the tech sector “poorly.”
What the Government Should Do for Tech
Provide better access to capital: 46%, Improve STEM education at the K-12 level: 41%, Improve STEM education at the post-secondary level: 41%