Approximately 69 percent of technology executives believe there is a shortage in the quantity and quality of technology talent available to them, according to the second annual National Survey of Technology, Policy and Strategic Issues released by the Technology Councils of North America and the North Carolina Technology Association.
While there is a dearth of available talent, nearly two-thirds (63 percent) of the 1,700 C-level executives surveyed said they intend to hire staff over the next one to two years. Small companies (74 percent) and medium firms (72 percent) are the most optimistic on hiring.
“Companies are feeling better about business conditions, but the talent shortage issue has the potential to sidetrack growth,” said Brooks Raiford, NCTA’s president and CEO.
The talent shortage perception is present across all regions of the country. In the Midwest and West, 72 percent of respondents say there’s a shortage. The Northeast (67 percent) and South (65 percent) saw slightly lower numbers.
“The survey substantiates our efforts to champion policies such as STEM education, tax and regulatory reform and access to capital for innovators and startups,” said Steven Zylstra, TECNA chairman and president and CEO of the Arizona Technology Council.
Concerns about the economy are the biggest threat: A general lack of confidence or economic paralysis is the biggest threat to business activity, according to 44 percent of executives. Government regulation is next at 42 percent. Concerns about lower margins or downward pressure on pricing took a big jump — from 22 percent in the 2012 survey to 38 percent this year, placing it third on the list of concerns. Medium (51 percent) and large companies (50 percent) are most concerned about margin and price issues.