The tech talent shortage is not as bad as popular rhetoric makes it out to be, according to an Indeed report released on Thursday. Compared to the rest of the job market, tech isn’t fairing too poorly when it comes to filling open positions, the report found.
Reports of a tech talent gap persist, and some statistics confirm the rumors. A lack of available tech talent is the top obstacle preventing CIOs around the world from completing their enterprise goals, and nearly 1 million computer programming jobs in the US are expected to remain unfilled by 2020.
SEE: IT Training Policy (Tech Pro Research)
While the tech labor market faces its own set of challenges, the industry may be making the problem out to be more severe than in reality. Using job seeker resumes and job postings on Indeed between 2014 and 2018, the report analyzed how fast types of tech jobs change, how many job seekers tech employers see, and how well tech job seekers match the qualifications set by employers.
The report identified the following three ways the tech talent shortage has been blown out of proportion:
1. The tech job market is changing slower than the rest of the economy
Compared to the overall labor market, the tech job market isn’t changing very rapidly. While job postings in all sectors on Indeed were 25% different in 2018 than in 2014, tech job postings only changed by 18%, the report found.
2. Tech talent isn’t as rare as it appears
The tech industry does have fewer jobs seekers than job opportunities compared to the overall economy. However, tech employers had a relatively easier time finding workers in 2018 than in 2014, the report found, indicating the shortage may be shrinking.
3. The mismatch between tech job seekers and jobs available is smaller than that in the rest of the economy
Tech job seekers actually do have the skills employers are looking for, the report found. After comparing the resumes of job seekers to Indeed job posting descriptions, the report found that the mismatch of skills is smaller in tech than in the labor market overall. Lower mismatch indicates a smaller skills gap in the tech industry, the report added.
To learn more about the myth of the tech talent shortage, check out this TechRepublic article.
The big takeaways for tech leaders:
- The tech talent shortage isn’t as bad as the overall labor market. — Indeed, 2019
- The tech job market is actually changing slower, not as tight, and has a lower mismatch of skills between job seekers and job opportunities. — Indeed, 2019