Recruitment and retention of talent are set to be critical success factors as the global population produces a smaller and less skilled workforce over the next decade. In an age where growth is a product of creative and technological advancements, companies that want to dominate their industries must manage talent effectively.

In early 2007, Deloitte, with the support of the Information Technology Association of Canada (ITAC), conducted a talent pulse survey of Canadian technology and telecommunication companies to better understand the full extent of the talent shortage and to outline the industry's response.

Solutions for a long-term problem
The TechTalent Pulse Survey Report, Coming of age, identifies critical talent issues in Canada's technology and telecommunication industries. The report concludes that the talent shortage is a long-term problem that requires long-term solutions. Skills shortages in key roles, gaps in leadership across the industry, and shrinking talent pools are significant concerns. Companies that don't take action now may find themselves facing a future talent "crisis." There are a number of steps that technology and telecommunications companies can take to avoid the talent crisis: workforce planning, leadership development and succession planning.

Our TechTalent survey findings confirm what our 2007 survey of Tech Fast 500 company leaders recently revealed — that attracting and retaining top talent has become the leading operational challenge for many North American CEOs.

Highlights of the 2007 survey
Survey highlights include

• 95% of respondents cite talent shortages as a fundamental business challenge facing their organization today
• 90% of respondents anticipate a shortage of technically skilled talent
• 68% of organizations falsely believe that the skills needed to enable future growth are available in the labour markets
• 67% of respondents rely on outdated financial rewards and incentives to attract and retain talent, making it the most common talent management strategy

Download the complete report, Coming of age.

The survey was conducted with the support of the Technology Association of Canada