Well into the second half of 2019, companies are still finding it difficult to find qualified technology professionals, especially those experienced in cybersecurity.
Of course, a continued strong economy and low unemployment rate definitely contribute to a job market favoring candidates. Organizations need to offer high salaries, signing bonuses, and other perks to successfully make that hire.
With some economists predicting a recession at some point in 2020, are things about to change? Will this technology talent crunch in Boston and elsewhere continue with no end in sight? Let’s take a closer look at this issue to help your company devise the right staffing plan for next year.
Expect the Strong Demand for Tech Talent to Continue
Even if the economy starts trending downward in 2020, remember that unemployment is a lagging economic indicator. So any effects of a potential recession on the IT job market likely won’t happen until 2021, if at all. Also, expect some technology roles – especially cybersecurity, app development, and Cloud administration – to remain largely immune to any downturns.
In short, don’t count on a slow economy to make it easier to source tech talent any time soon. Because of this cold, hard fact, your company’s staffing game needs to be at its peak.
Boston Remains on the Front Lines of the Need for Cybersecurity Professionals
The healthcare and financial industries remain leaders in driving the Boston economy. These are also two areas currently being disrupted by a digital transformation, especially in the eCommerce realm. Unfortunately, consumers leveraging the promises of online banking, trading, shopping, and telemedicine are ripe targets for cybercriminals.
This is the main reason why these companies currently struggle to find technology talent experienced in information security. Don’t expect this trend to change in the foreseeable future. Statistics reveal this growing need continues.
A study by Cybersecurity Ventures predicts 3.5 million unfilled information security positions by 2021. One of the reasons for that huge need is the predicted $6 trillion cost of cyber crime in that same year. Other studies by Cisco and Symantec also reveal a similar need for tech pros with cybersecurity experience.
Expect this crunch to be felt even more acutely in Boston. Local businesses need to ensure they are able to source the right amount of talent with information security experience. While training existing employees helps somewhat, there’s no substitute for experienced cybersecurity professionals.
Looking for IT talent?
When your company needs help finding the right technology talent, speak with the experts at The CERES Group. As one of the top technical staffing agencies in New England, we provide experienced candidates able to make a difference for you. Schedule a meeting with us soon.