CIOs in 2023 want to know: Who’s got the talent? – Crypto News

Employer job postings for US technology roles in November 2022 totaled nearly 270,000, the lowest in nearly two years, reflecting in part a tighter economy, cost cutting and layoffs in the sector, according to trade group CompTIA. Data suggests there is still more hiring than shedding talent taking place with the unemployment rate for technology roles dropping to 2% down from 2.2% in October, the group said.

Some tech leaders say that although there is talent available, there is a skills mismatch and a clear shortage of available candidates with expertise in domains cybersecurity.

CIOs at companies like Kroger Co., Duke Energy Corp. and Cardinal Health Inc. say that scooping up and keeping talent will be a key priority for them in the new year as they continue to execute on modernization efforts and beef up their cyber defenses. Some also believe the shifting economy could make it easier to fill vacancies, although the short term talent market remains challenging.

“It’s been a source of should we, not deprioritize, but re-sequence the work that we’re doing,” Kroger CIO Yael Cosset said of the talent shortage.

Mr. Cosset said that over the past year, he’s spent a lot of time building development programs, where employees from across the company, both those who work in tech and other areas, spend a week learning in depth about technical topics to make them more proficient in theirroles.

Upskilling is top of mind for CIOs across industries. Duke Energy is developing certification curricula and joining with software companies on education programs to help internal talent learn new skills, said CIO Bonnie Titone.

“As finding top tech and security talent in the marketplace has gotten more competitive, developing the talented workforce we already have has become even more critical,” she said.

Some companies are changing the composition of their teams in hopes they will be more efficient and effective. For example, Advanced Micro Devices Inc. CIO Hasmukh Ranjan said he is moving away from an outsourcing model to instead have the majority of IT talent in-house.

,[It] may sound counterintuitive because many companies outsource to cut costs,” he said, adding that “We have a view that by insourcing, we will be able to make our workforce more efficient.”

Eli Lilly & Co. Chief Information and Digital Officer Diogo Rau is also trying to bring more work in house rather than relying on vendors, adding that there is a clear benefit to having the skills and knowledge within the company.

“It helps you go faster and cheaper on a lot of things,” said Mr. Rau, adding “I don’t believe vendor management is really the skill that a young college grad is wishing to get.”

David Burden, CIO of software company Forgerock Inc., said companies will also lean on job sharing, rotations and contractors to augment teams.

Cardinal Health CIO Michelle Greene said that the organization is increasing salaries for key roles such as those in cybersecurity to retain workers.

“It is constant that people are coming after our security talent,” she said. In addition to salary raises, she said it’s also important to offer other benefits, including constant training, engagement and the ability to attend conferences and engage with peers across disciplines. .

Company culture is also key to some CIOs’ retention efforts.

“As we face an ongoing IT skills shortage, companies that prioritize workplace culture, diversity and meeting equity will likely come out ahead,” said HP Inc. CIO Ron Guerrier.

Others hope that a shifting economy could provide some relief in the talent market. Layoffs at startups are making the prospect of working for established, stable companies more attractive, said New York Life Co. Head of Strategic Capabilities Alex Cook.

Mr. Cook said he’s already starting to see the impact as some employees that left for technology insurance startups boomerang back.

Whirlpool Corp. CIO Dani Brown said she hasn’t seen that shift happen quite yet. “Around cyber capabilities, there is a lot more demand than there is talent,” she said, “I wish there were more.”

More CIOs across industries also said revitalizing strategies around workforce retention and finding ways for existing teams to be more productive will remain top of mind through 2023.

“Without the right people, the right technology is useless,” said Accenture Chief Information, Data and Analytics Officer Penelope Prett.