Talent retention: Is it just a matter of market insight?

Retaining talent and building skills is a difficult and time-consuming process for organizations.

It is the order of the day to talk about talent, talent retention or identifying and recruiting people. Talent has recently become part of the vocabulary of virtually every manager. For many, we are witnessing times of tremendous change, especially in the world of information technology, where change is already an integral part and we all have to adapt, above all, to the issues of recruitment and people management that have been changing. to change. Retaining talent and strengthening competencies is a difficult and time-consuming process for organizations.

Currently, in Portugal, there is a very high dynamic in this sector in terms of hiring, making it even more difficult to recruit, unlike most other sectors. According to a study by Hays, 78% of national employers operating in the Information Technology sector report that the Portuguese market has a shortage of qualified professionals in the field.

In fact, the market wants to hire, but finding the right professionals with the right IT skills is far from a reality. Although there is a concern to increase the number of places and courses in these areas, the percentage of graduates is still significantly insufficient to respond to the huge number of places available.

In this sense, it can be seen that the IT sector is a full employment area in Portugal, where companies are increasingly demanding in the profiles they recruit, looking above all for operational professionals with two to five years of experience, capable of to arrive and produce immediately. And undoubtedly, this is a hard-to-find type of profile available in Portugal, and the inexperience of the available professionals is, for us IT companies, the biggest difficulty when recruiting. It can be said that the best professionals are thus integrated in projects that are attractive enough to retain them or that they have invested in international careers.

According to the European Commission, by 2020, it is estimated that there will be 15,000 vacancies left in Portugal in the IT sector, if concrete steps are not taken to reverse the shortage of qualified profiles in this area. This is mainly due to the inadequacy of higher education courses in relation to the real needs of companies, as well as due to the lack of specific training, added by the weak interaction between companies and universities. As Hays points out in its study, the problem is not in the quantity of graduate students, but in the quality with which they are trained.

Thus, there are two types of associated problems: the lack of specific and adequate training and the lack of talent available to integrate into organizations. As for the first, it is imminent to establish a greater connection between companies and universities, so that they can offer their students a closer education than is exactly the reality of organizations. On the other hand, there is also a need to innovate in the education sector, especially in these less-sought-after areas, which at first seem less attractive in order to attract and attract young people to the IT sector.

As far as lack of talent is concerned, it is essential that companies seek to reinvent themselves by creating new ways to captivate and retain these new talents, as they will eventually be attracted by large multinationals. On the other hand, it is also relevant to consider the re-qualification of individuals’ skills, so that it is possible to reduce unemployment numbers and, in turn, to respond to the huge demand for IT professionals that has been observed in recent years. Not only is there full employment, but the candidates are more negotiating and no longer moving on salary alone, so they want to know the project, the company’s position in the market vis-à-vis the competition and what are the career advancement options. Thus, in addition to being necessary, it is urgent to address these two problems in the labor market.

In this context, it is anticipated that the next few years will be quite challenging for organizations in terms of IT profiling as they will have to redesign their recruitment strategies and even their work processes. And your company? It is ready for recruitment 4.0.

President of Ábaco Consulting,

Published by Dinheiro Vivo, João Moreira, 06 February  2019.

Read the full article, here.