Though the IT talent shortage is national, each tech city is impacted by and will deal with the scarcity in their own way. Certain shortages in high-demand IT skillsets cut deeper in the Minneapolis tech community, compelling local businesses to get creative about how they fill those vacant positions. Which hiring strategies are going to be most effective? By looking at the latest happenings in the local tech community, we’ll get our answer. Here’s what Minneapolis businesses need to keep in mind as they work to overcome any talent gaps they face.
Tech Demand Is Only Going Higher
The tech talent crunch in Minneapolis has not been a picnic, but forecasts indicate that it’s only going to get more difficult. Our own experience has shown that software and web developers, systems and network architects, and cybersecurity analysts are in the highest demand. Add the future plans of a Fortune 500 company to hire 400 highly skilled tech professionals with “digital, cloud, and security” experience by 2020, and what started as a talent gap has the potential to become a fissure.
Venture Capital Investments Can Attract More Talent
The good news for the Minneapolis tech talent gap is that VC investment has the potential to retain and attract more talent to the local market. Since 2015, 72 businesses have been founded in the Minneapolis metro area, adding to the web of tech opportunities available. Plus, more than $1.289 billion in VC funding has helped local businesses pursue their visions and innovate in ways that are putting Minneapolis on the map. The growth of the talent supply might be gradual, but will counteract part of the talent gap – if businesses know where to find and how to lockdown tech workers for their team.
Bootcamps Are a Dark Horse Talent Source
Can you get quality candidates through fast-tracked education? IT boot camps are putting that question to the test. Candidates start with untapped potential, but go through a rigorous training program to prepare them for real-world challenges. Once done, boot camp graduates can have a solid foundation that Minneapolis businesses can use to address the IT talent shortage. Most businesses are confident in the potential of boot camp participants. An Indeed survey found that 72% of companies feel these boot camp participants are just as prepared to become high performers as degree holders. Just be sure to compare the quality of programs locally and nationally to ensure the highest quality of candidates.
Research the Latest IT Salary Trends
In spite of all these challenges, some companies continue to hire top technical talent despite the IT talent shortage. With the talent gap as pervasive as it is, there are likely to be several competing job offers for every high-quality candidate. Successful companies stay informed about the IT salary trends in Minneapolis and are prepared to take action with that information.
Want to learn about competitive IT salaries and the hottest IT skills? Our “2018 Minneapolis IT Salary Guide” can provide you with insight to give your business the edge necessary to beat the IT talent shortage.