Cultivating a Rich Talent Pool in Tech

The pursuit of innovation is never-ending in the rapidly evolving world of technology. The diverse talent pool, with a wide range of skills and perspectives, propels this sector into uncharted territory, solving complex problems, and, as a result, advancing society. However, the tech industry is frequently confronted with a recurring problem: a scarcity of skilled talent. This scarcity not only stifles innovation, but it also presents a significant challenge for businesses attempting to keep up with technological advancements and market demands. The importance of tapping into the reservoir of untapped talent cannot be overstated in such a scenario.

The tech sector has experienced some ups and downs over the past few years. Yet despite all the rockiness — including a cycle of downsizing and rightsizing — tech companies remain in need of top people to fill positions. The problem? They’re often coming up empty because they haven’t invested in cultivating talent pools or pipelines.

Isn’t finding candidates hard for nearly every type of business these days? Yes, you’re partially right. Since the pandemic, employers have found it increasingly difficult to find qualified applicants. However, this problem is amplified in the tech world because, frequently, tech-related jobs require specialized skills or unique expertise. This is why a recent Deloitte survey discovered that almost nine out of 10 tech leaders named worker hiring and retention to be moderate or major obstacles.

Without technically trained and developed high performers, your company faces a much tougher road ahead. It’s very hard to innovate, automate, or compete if you lose ground technically. Even if you’re not a “tech organization,” per se, you may still rely on a tech team to handle your backend IT and related processes and systems. This means you need reliable talent to keep your operations humming. Otherwise, you’ll be left to stumble forward and potentially overwork the tech team you already have. 

What’s the solution? Try taking steps to build up a reservoir of tech talent possibilities. That way, when you find yourself with open roles or assignments, you won’t be starting from square one. Below are several strategies to help you populate a talented pool of individuals with technical knowledge and ability.

1. Consider making retiring employees independent contractors.
   There’s going to be a continuing wave of retiring tech workers as the Baby Boomer generation gets older. According to DeVryWorks research, 87% of organizations are predicting that they’ll experience an impending labor skills gap due to a massive wave of Boomer retirees. Though this may sound dire, you could find a silver lining by asking retiring workers about their interest in becoming consultants.
   McKinsey & Company notes that there’s been an upswing in the number of post-pandemic retirees — about one-fifth — who have returned to the workforce in some capacity. Accordingly, you may want to take a quick look at the seasoned people who retired from your team in the past couple of years. Are some worth a call asking if they’d be interested in a more flexible arrangement? Don’t assume they’ll say no. Many people who enter into retirement end up missing the routine of occupational life. Your retired employees could become key players to help you plug talent shortages. Oh, and the added bonus is that they’ll already be familiar with your corporate purpose and culture.
2. Start training existing workers for promotional opportunities.
   Around half of all employees are hungry for company-paid upskilling and reskilling opportunities, per SHRM research. You can feed this hunger and fuel your internal pipeline simultaneously by offering targeted professional development training. Being tactical about the programs you offer is a must-do, though. Therefore, plan to get your other leaders and managers into the process.
   For example, consider your path moving forward. What tech positions do you envision needing to fill in the coming months or years? What particular tech skills will those positions require? Your answers will help you figure out which types of training to present to employees so they can be fast-tracked into a promotion-ready status. Providing this kind of upward mobility opportunity to your best and brightest workers won’t just give you a recruitment leg up, either. It could help you lower turnover and enhance your workplace’s one-of-a-kind thought leadership.
3. Partner with outside organizations that develop tech talent.
   Want more tech applicants? Go to the places where they’re learning how to be assets in the tech industry. Consider working with organizations from local colleges to offer their students internships, mentoring, or other ways to interact with your business. Then, when you have jobs, those people will already be familiar with your brand and more apt to submit applications.
   Crystal Crump is the managing director of company relations at LaunchCode, a non-profit organization that helps people enter the technology field by providing free and accessible education, training, and paid apprenticeship placements. Crump notes that many companies have begun to use her company as a non-traditional talent pipeline for people who have recent training in subjects like full-stack software application development, data analysis, product management, and a variety of coding languages.
   “Consider an apprenticeship model,” she suggests. “Invest in people who have the foundational skills and drive to develop into the talent needed for the future.” When choosing an education partner, Crump adds that it’s a best practice to work with one that can help with the screening process to streamline the experience for all stakeholders.

From the looks of it, wooing technically strong people to your company probably isn’t going to get any easier. Nevertheless, you don’t have to assume that you have to grin and bear the situation. By taking a more proactive stance now, you can ensure that your tech candidate pipeline offers you a continuous flow of strong applicants rather than a trickle of occasional possibilities.

Written by Rhett Power.

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