20 Jan 2023
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Major cloud providers have a talent shortage.
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Cloud is no longer a niche, it is a need to have, it’s become, to a large extent, commoditised, as well as a way of working. Large scale enterprises are looking to build this capability into their tech teams.
We need to accelerate the investment in technologies and people to support financial institutions as they grow and modernise. The shortage of expertise has hit the cloud industry especially hard and as the industry is looking to cutting-edge applications at scale the talent shortage gap is growing at speed.
There just isn’t aren’t enough experienced, trained engineers to meet that need. And even teams who have been in the thick of cloud technology from the start are finding themselves trying to stay abreast of the evolution of cloud technology, ensuring that they’re up on the newest skills and the latest changes.
Compounding the issue, it’s an employee’s market, where job seekers are spoiled for choice by an endless number of opportunities. Companies are finding themselves in fierce competition.
The industry needs more experienced, trained engineers, while the IT industry, in general, is suffering from a lack of skilled tech talent, the cloud industry has some very particular challenges, with niche skills that are particularly difficult to fill, such as cloud architects, data engineers, and solution architects.
There has been a general answer is lack of investment, and a lack of foresight. The invention has been about the tech rather than the supply chain when it comes to people.
More investment is needed to encourage younger people into the space, in particular, women, and people from minority backgrounds who have traditionally been subtly discouraged from pursuing their interest in STEM and major cloud providers have a talent shortage
Solving the talent crisis
The talent crisis is a solvable one, but the solution requires companies to go all-in on their people. It requires planning, downstream investment, upskilling and reskilling, and a focus on diversity, equity, and inclusion to enrich and broaden the talent pool – as well as rethinking company culture.
Investing in current talent. It’s not just about creating new talent, but also developing existing talent, as well as lateral moves within the organization, Flammarion says. Ongoing professional development is essential, as is a multifaceted approach to ensure that demand is met here and now, as well as the demand that’s continuing to grow going forward.
Investing in diversity. The business case for diversity has been made over and over, and is grounded in research and evidence, Tapper said. The need for balanced teams in business isn’t about tokenism or representation, it’s about balanced teams across the board getting better outcomes.
Breaking down the experience barrier. When hiring, companies should be looking for competencies and potential, not a clone of the person you just lost. Removing those barriers can help a lot in terms of attracting talent, retaining talent, and opening doors for potentially successful applicants that wouldn’t normally have a chance to shine.
Investing in company culture. Company culture is essential for both attracting new employees, but also stemming from attrition. Companies need to set the conditions for everyone in the organization to thrive and not just survive.
Attracting talent, it’s about creating a pull factor. Your employees and potential hires have so many choices — what is your differentiator? How do you help contribute to a more rounded experience for people, where they feel like their contributions are meaningful, and that they get the reward and recognition that they deserve?
Investing downstream. Because companies are looking for very high-end, niche, incredibly skilled individuals, investment needs to begin downstream, starting with education.
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