The global talent shortage and a crowded marketplace mean the software-as-a-service (SaaS) model has never been under pressure like this before. How will the industry overcome the hurdles ahead?
Recent research shows that just 11% of industry leaders believe that tech talent will be easy to find over the coming year. This finding echoes that of our new whitepaper report, which asked 500 global talent leaders to outline their concerns for 2019. Almost half of the respondents believed that the talent shortage would be their biggest challenge in the coming year. 26% say that beating the talent shortage is their top priority for 2019, but 58% believe it will worsen.
For SaaS companies, this isn’t good news. Tech talent is already at a premium and 62% of businesses are planning to invest in new technology in the year ahead; that means already-scarce tech professionals will be even more in demand than in 2018.
Couple this with a plethora of emerging start-ups, promising scale-ups, industry behemoths and exciting employer brands and there are almost endless possibilities for tech candidates with the right kind of skillset. How can companies hope to find, attract and keep the best candidates?
With regards to training the next generation of tech workers, universities and government initiatives are currently in place to boost the talent pool in future years.
In the meantime, upskilling existing staff is one possibility; 86% of IT professionals have undergone some form of training in the last 12 months. However, this method isn’t the most effective – at present 40% of employees leave within the first year because they do not feel they have been given the necessary skills and training to be effective at their job.
That leaves only one viable option for most companies. Enhancing employee value propositions and targeting passive candidates rather than relying on job boards and inbound applications is practically the only way to ensure a steady flow of talent in the near future.
Many companies have already begun improving their internal culture, environment and packages to appeal to the best candidates, but sourcing passive talent requires a specialist skillset that many companies struggle to develop internally. This is where your recruitment partner comes in.
Solutions Driven are experts in the technology sector and we have successfully cut through the competition to secure placements for some of the most business-critical roles around. Why not ask us to fill yours?
Business Growth Specialist
Dave is a Politics and Sociology graduate with a decade of experience in SaaS sales and account management. He’s always on the look out for exciting start-ups and new technologies to connect with.