Friday, Dec 16 2016

Why a Skills Deficit Will Stunt IoT Growth in the New Year

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8 Skills Deficit

The Internet of Things (IoT) has gained significant attention across the business landscape. Connected products and integrated technologies have businesses eager to take advantage of new developments in the arena. However, the talent required to manage this changing IT landscape isn’t readily available. Shortages in available data scientists, security personnel and wireless networking specialists have made it difficult to fill current openings. And demand is only expected to grow as we enter 2017.

IoT Requires Specific Skills

Not everyone working in the IT professions have the skill sets required to meet the needs of this changing technical environment. IoT technologies involve specialized hardware and software, and new network protocols. Advanced security measures are required to maintain network and data integrity, and big data analytics have a starring role in these developments.

 

Since each of these specialties may be covered by different IT professionals, a business must have a diverse team to move forward with these new technologies. Having a skills deficit within the team can cause development to practically halt until the missing talents are either acquired or added. This means that financial investments in training, recruiting or both, may be required to keep projects moving forward.

IT Unemployment is Incredibly Low

Unemployment rates for tech professionals are currently 2.8 percent, well below the national average of 4.9 percent. This means that demand for IT skills is incredibly high when compared to the number of professionals available. The lack of talented IT professionals means compensating for skills deficits will be even more challenging, especially in fledgling fields like big data analytics.

 

Unemployment rates are expected to stay low as more baby boomers reach retirement age as there are not enough potential employees to replace all of those who will be leaving. While talented individuals can be wooed away from their current employers, other businesses may be pursuing your employees in turn. The low unemployment rates also allow professionals to feel more secure about voluntarily quitting a position to search for greener pastures, as the current expectation is that new opportunities can be found quickly.

 

This means that organizations will need to offer highly competitive wages and benefits to attract new talent and retain current top performers. Often, that means companies have to be willing to invest before the benefits of the new hires are fully realized. Some businesses may be hesitant to dedicate funds based on the potential of IoT but may be unable to enter the field without taking the risk.

A Fight for the Future of Tech

Both of these factors mean that many businesses may not be able to pursue the projects they have recently had their eye on. Until the required skills become more prevalent in the workforce, finding suitable candidates to fulfill your needs will remain a challenge. The Armada Group can help you locate top talent to advance your IoT endeavours. Contact us to speak with one of our professional recruiters about your current needs and what we have to offer.