The Tech Talent Shortage Rages On: Here are 3 Reasons Why (and What You Should Do)

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If you’re tired of hearing about the tech talent shortage: buckle up. Tech layoffs may be making headlines, but the reality on the ground looks different for tech leaders. Tech talent continues to be in high demand, and short supply. According to Gartner, this will continue until at least 2026 based on forecast IT spend. 

The threat of a potential recession has put significant pressure on CIOs, CDOs, CTOs and other technology leaders, who feel crunched to deliver returns on technology and data investments, streamline costs, and modernize business systems. Organizations that are ahead of the curve on digital transformation are more flexible and resilient, meaning they are better positioned to come out of an economic slowdown stronger. 

Every industry today is a tech-driven industry, and without the right talent, it’s impossible to keep up. This widening gap between demand for tech talent and supply of tech talent is costing employers significantly as they compete for a small pool of candidates. 

So what’s behind the persistent tech talent shortage? Three things that are within a company’s control: 

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Meet Your Match: Break Into the Finance Industry in a Tech Role 

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Move over, Silicon Valley tech giants. Finance is drifting away from its “Wolf of Wall Street” reputation to become the next happy haven for tech talent. 

In fact, software engineers are one of the most in-demand roles in all of finance, and 96% of financial institutions say software engineering is “critical” or “very important” to their company’s future, as these skilled professionals help enhance security, build consumer-friendly apps, and drive back-end process efficiencies.

Similarly, the financial sector employs 9% of all data analysts and data scientists—experts that specialize in financial risk modeling, financial product design, customer analytics, and fraud protection across banks, lending institutions, insurance companies, investment advisories, and credit bureaus.

Given that 78% of people prefer to bank online or in-app these days, UX designer has emerged as a fast-growing role within finance as companies expand their service to include more account features like budgeting tools, calculators, and financial literacy resources.

At the best finance companies, you’ll find all the resources you need to perform your job effectively, a welcoming environment of like-minded people who are willing to give a bit extra to get the job done, a healthy work/life balance, and a greater sense of purpose. 

As someone once said, “Money makes the world go round but people make the world go forward.” Young people looking for a way to make a difference in global economies and improve standards of living at scale will find a sense of purpose in the finance sector.    

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Computer Science vs. Data Science: What is the Difference?

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Trying to wrap your head around the difference between data science vs. computer science? 

Many of the luxuries that we have today — a favorite streaming service that recommends new movies, the ability to unlock our phones with facial recognition technology, or virtual home assistants that let us play our favorite music just by speaking — are made possible by computer science and made better by data science.

Today, these two fields complement each other to further applications of artificial intelligence, machine learning, and business forecasting. Read on to learn a definition of each, their histories and applications, and career paths in both computer science and data science. 

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How to Shift Your Talent Strategy During Economic Volatility

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Today’s talent market is undergoing a major shift, and organizations are rethinking their talent strategies. After a period of massive hiring and growth, some companies are taking a step back and reducing their workforce, such as through layoffs or hiring freezes. Many organizations are taking a more thoughtful approach to hiring, selectively filling only key roles. Other companies still in growth mode see this as an opportunity to recruit top talent in a tight job market. Yet all businesses have one thing in common during times of economic volatility: a desire to shore up and future-proof their workforce against whatever comes next. 

While investments in employer branding and talent development efforts can easily fall to the wayside during economic slowdowns, companies that are in it for the long haul can’t afford to press pause. Here are three things to consider as you evolve your organization’s talent strategy in the face of uncertainty. 

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Alum Spotlight: Changing Careers as a Mom? Yes, You Can

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Juggling the responsibilities of motherhood is often described as having two full-time jobs — one that stretches into the late hours and another that spans the entire day. Now, imagine the additional challenges faced by single mothers who rely solely on themselves, carrying the weight of these two demanding roles without any breaks. It requires a unique strength and unwavering determination for a mother to embark on a new career path while fulfilling her maternal duties. 

Maintaining a resolute “Yes, I can” attitude is a crucial aspect of their transformative journeys. A positive attitude is a strong determining factor to success, but more support is always an advantage. At General Assembly, we have had the privilege of uplifting mothers from many backgrounds as they make successful transitions into tech careers.

In this article, we will explore the challenges of switching careers as a mother and how you can overcome them. It’s possible to change careers or start a new career as a mom, regardless of any limiting beliefs or underlying circumstances. 

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The Ultimate Checklist for Aspiring Career-Switchers

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We invited Nabil Farrag, Country Director of Spring Professional LHH (Singapore) Pte. Ltd. (license number: 09C5803), to share his best tips for individuals who want to switch into a career in tech.

Nabil has over a decade of recruitment experience working in various markets, including Australia, Asia, and Europe. His expertise in technology recruitment and coaching and consulting is sure to help anyone trying to figure out how to find a new career.

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Teching Care of The Planet: How Tech Skills Can Promote a Greener Earth

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Technology plays a crucial role in cultivating a greener earth by enabling the development of innovative solutions for environmental challenges. Some of these technological advancements include renewable energy sources, energy-efficient devices, green transportation, and sustainable agriculture practices. 

Over the last few years, we’ve seen how the demand for green or sustainable tech jobs has increased. According to a report by LinkedIn, there has been a 191% increase in the number of sustainability jobs posted on the platform since 2016. Additionally, the report found that sustainability jobs are not limited to specific industries and are found across a range of sectors, including technology, finance, and energy.

In this blog, we will look at how technology is leading innovation for a better and greener environment, identify some of the most popular tech jobs in sustainability, and what digital skills you need to acquire to combat environmental challenges in your career. 

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General Assembly and LHH Partner to Launch a Recruit-Train-Deploy Solution, Further Expanding Access to Diverse Junior Tech Talent for Employers

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In a world where technology is advancing faster than ever before, the demand for skilled tech workers has reached an all-time high. To help businesses keep pace, General Assembly and global talent solutions provider LHH have launched Recruit-Train-Deploy (RTD), a unique solution to close persistent skills gaps, build diverse and resilient tech talent pipelines, and provide exceptional onboarding experiences that support junior tech workers. 

According to our 2023 “State of Talent Acquisition” report, 91% of tech hiring managers are at least somewhat concerned that their recruitment and hiring methods won’t be enough to fill their open tech roles in software engineering, analytics, data science, and UX design. Even if a company has every role filled today, Hired found 57% of first-year tech talent are looking to change jobs within six months.

In times of economic uncertainty, new hiring methods are required to build a more resilient workforce—whether that’s by providing the proper training to retain new workers and shore up productivity or deepening the pool of diverse, skilled talent that’s ready to shine and scale. 

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Harnessing The Power of Positive Thinking: 5 Career Change Affirmations to Tell Yourself

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Have you been feeling stagnant in your career? Found yourself dreaming of a passion outside your 9-to-5 role? 

If you answered “yes,” to either (or both) of these questions, a career change is on the horizon. However, if you haven’t made any moves to kick off this transition, your mindset might be holding you back. Taking those first steps toward a new career direction can be scary and overwhelming. Fear of failure and the unknown, leaving the safety net of a career you are comfortable in (but don’t love), can keep you running in place. 

Shifting your mindset can get you to a place where you feel confident and empowered to take that leap. That’s right: you can control your mind to achieve your goals. Positive thinking isn’t just a buzzword or fluffy theory: research supports it as a powerful tool that can help you open your mind, build better relationships, and achieve optimal levels of well-being, resilience, and yes, success. 

Ready to give it a shot? Let’s walk through some positive thinking exercises that will catapult you from “no, I can’t” to “yes, I can.” 

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3 Tech Innovations in Healthcare Shaping Mental Health in 2023

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Within the last 200 years, there have been major advancements in healthcare technology — from the invention of the stethoscope in 1816 to the discovery of medical X-rays in 1895. Now, technology continues to support progress in healthcare, with a new and much-needed focus on mental health. 

Since the 2020 pandemic, anxiety and depression have spiked 25% globally. Depression is the leading cause of worldwide disability, and anxiety is the most common mental health disorder across the globe — affecting nearly 30% of adults at some point in their lives.

Fortunately, with advancements in technology, mental health support is also becoming increasingly accessible. Due to the positive impacts of technology in the health space, many are shifting their careers from healthcare to healthtech, or outright moving industries to support the growing need for tech workers in health.

This article covers three major technology innovations shaping mental health care, the in-demand jobs to support them, and tips for landing a healthcare technology job. 

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