Talent Shortage? Invest in People
AustinStartup’s George Dearing did a good job addressing a few of the key issues. It’s a really good read.In a recent Austin Technology Council (ATC) CEO Summit, talent shortage were a hot topic. Which sounds crazy when the unemployment rate is north of 8% in Austin, and in Texas.
- 77% of respondents agree that there will be a shortage of technically skilled talent in the future.
- 71% of respondents agree that there is a shortage of technically skilled talent at the present time in Austin.
- More than half of respondents believe that talent issues have limited their organization’s productivity and efficiency.
Brooking’s analysis opens up several discussion points. With diversity and the educational pieces presumably in place, what then are the obstacles to acquiring the right talent? Are companies just terrible at recruiting? Are all the good engineers are in Silicon Valley or overseas? Perhaps even more provocative, are companies really investing in people and training their employees to become more highly-skilled instead of sourcing things out to get the razor-thin margins necessary to sustain their models? Whatever the case, the NYT surfaced data from the National Employment Law Project [below] showing low-end jobs are actually the ones making a comeback, again leading me to question how aggressive some companies are really approaching the recruiting process.Great work. By next summer, I’ll report on some of our own talent investments at BP3. Maybe it is just the lack of VC funding that allows us to look further out for our investments than just the next year. We have time to invest and grow with the team we hire.