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Skills Gap Tip #9 - Don't let the skills gap hold you hostage!

October 3, 2017

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What's the overall cost of unfilled technology jobs? New research from Glassdoor shows it's in the billions.

 

Comment from Susan:  Employers need to start taking the skills gap/shortage seriously and see it as a risk to their business and not something they can just ignore.  

 

Unfilled tech jobs that are costing the U.S. billions

 

With IT industry unemployment hovering at around 2.8 percent (as of Q3 2016) and organizations struggling to land talent, many companies find themselves with unfilled jobs. That's a problem not just for individual companies, but for the U.S. economy as a whole, says Andrew Chamberlain, chief economist at Glassdoor.

"Filling open jobs doesn't just help workers. It also helps companies and the broader economy. Every job that's open is money left on the table, in the form of lost productivity for employers and earnings in consumers' pockets. When more open jobs are filled with the right people, economic gains include greater business productivity and consumer spending, thanks to more people earning wages, then saving, investing and spending those wages," Chamberlain says.

 

In IT, a combination of rapidly changing markets, incredible demand for and short supply of talent means thousands of open, unfilled roles are costing companies -- and the economy -- money every day. In fact, the value of the approximately 263,586 unfilled IT jobs posted by employers in the U.S. adds up to $20.1 billion, according to the Glassdoor research.

 

The value of unfilled U.S. jobs is based on unique, online jobs that are open, direct from employers, in the U.S. on Glassdoor as of December 9, 2016. Glassdoor used a proprietary machine-learning algorithm to calculate salary estimates, based on millions of salary reports, and this was used to calculate the annual median base salary estimate for each open job. Annual median base salary estimates for each open job were then added together to determine total value.

 

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