Contact: Damien Tampling
Deloitte
National TMT Partner
+61 (0) 2 9322 5890

Contact: Melinda Loew
Deloitte
Media & Communications Manager
+61 (0) 2 9322 7146

The Deloitte Technology Fast 500 CEO Survey reveals the pending talent crisis within the technology industry is of most concern to technology organisations today.

Newly appointed Deloitte Technology Media and Telecommunications (TMT) Industry Group leader, Damien Tampling said with the baby boomer generation reaching retiring age, international CEOs cite chronic shortages of talent as one of their greatest concerns.

Mr Tampling formerly headed up Deloitte’s online and mobile consulting business, Eclipse, in Sydney for over three years and now specialises in media and technology M&As within Deloitte’s Corporate Finance practice.

He, like the CEOs surveyed, agrees the talent shortage will last for decades and that this poses a major crisis for the industry globally, and particularly in Australia.

“Technology companies, which rely heavily on top talent to drive innovation, will suffer especially from this global problem.

“Over half of the companies surveyed said they plan to expand their workforce by more than 25%, with the vast majority wanting to grow organically.

“However, all agree the biggest challenge to companies is ‘finding, hiring and retaining qualified employees’.

“CEOs have made talent their top personal challenge to develop the next generation of leaders, however a large number express concern about the focus of national education systems.

“As a result, we are seeing that views on offshoring have changed substantially.

Offshoring is now not seen as cut-rate labour supply, but as a valuable source of talent that is not available back home.”

Read the report: 2007 global survey of CEOs in the Deloitte Technology Fast 500