News » Massive talent shortage dampens US tech industry growth, says study

Massive talent shortage dampens US tech industry growth, says study

A massive talent shortage in the United States is threatening to halt the growth of the technology industry, according to a study conducted by research firm Harvey Nash.

Based on the survey results, over 69% of digital leaders said that they are unable to keep up with the sector’s growth due to the lack of skilled employees.

The pandemic has caused a large number of local businesses to undergo a digital transformation. However, this can’t be fully done due to the worsening talent shortage in the country.

Additionally, the pandemic emphasized the potential of remote working in any establishment. Harvey Nash stated that this priority complicates the ability of companies to retain talent.

About 61% of tech executives said that they are willing to increase their technology investments to compete in the sector, while 60% talked about adding more employees.

The report also recorded that only four out of 10 digital leaders can retain employees in key roles for the tenure they would like.

Despite the problem, only one in three organizations (29%) have redesigned their employment offers to attract applicants to join their companies.

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