“IT Industry in India is transforming at a much more rapid pace than anticipated”
Head IT & Security, Incedo INC.
How to prepare the growing competitive technology talent deficit
Let’s first understand the situation and then try localizing the root cause. It’s a fundamental principle of demand and supply. Based on the climatic conditions there may be a scarcity of raw material and therefore the price may go up. This means the raw material exists; however, a lot of people need it and therefore whosoever pays the highest bid, gets the raw material. In the case of talent, it is quite similar.
With the pandemic, there has been a drive for the Great Resignation where employees have higher choices v/s employers. In other words, scarcity of key skills.
To attract key skilled candidates, some organizations have to overlook their C&B policies and hire people even at a higher premium forgetting the fact that skills are the ‘raw material’ for the overall product the company offers to their clients. Some organizations that are able to sustain the spike of high premiums by raising their product or service rates with their clients sustained this model.
An ideal way to be prepared is to ensure the raw material is home-produced. This means, developing the capabilities in-house. This not only offers growth opportunities to existing staff but also develops a sustainable long term model.
The identification must be for the ‘will’ instead of the ‘skills’ because the skills can be attained and developed however the ‘willingness’ to learn and adapt to change determines the success. Developing the talent v/s getting the talent is one sustainable model where cross-functional domain expertise and cross-pollination of capabilities can bring great results.
Technology & Brand amalgamation
The voice of the customers is the greatest branding v/s any other PR or conventional branding. That is what Elon Musk, the richest person on this planet follows for his organizations. He does not have any PR or marketing team. He goes out to open on social media for direct feedback from his customers and that is what the true capabilities of organizations. Branding is a by-product, the focus must always remain on solving customer’s problems.
IT: The Future of India
The IT Industry in India is transforming at a much more rapid pace than anticipated. The recent budgets and policies have also helped grow the business as a source.
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