Do you have an automation ethicist or an interactive chatbot designer in your company?

If not, chances are that you will be looking out for one sooner than you think.

Today, every business is a tech business, irrespective of the core offering. Updated Technology is no longer a competitive advantage but a must-have. That’s why businesses need to have a workforce which is skilled in these new disciplines. But, on the ground, the story is different with a marked gap in the supply and demand of skilled people.

Companies are finding it hard to find talent with the right tech skills. This is true for India, as much as it is for the rest of the world. According to a recent study by online edtech company Great Learning, today there are 97,000 data science and analytics positions currently vacant across India due to dearth of qualified talent. That number is estimated to grow in a couple of years. In fact, NITI Aayog’s National Strategy for Artificial Intelligence concurs that the country will have a demand-supply gap of almost 200,000 data analysts in the next few years.

And this has led to a dilemma for companies – should they look at skill acquisition or talent acquisition?

A tech talent war that is costing companies dearly

HR recruiters share that the race to find tech talent is so competitive that most companies have no choice but to pay a premium to hire candidates. In addition, the hiring process itself involves costs – recruitment, advertising and other intermediary costs. And, once a hire is finalised, then there’s the cost of induction and administrative training to help the new hire align with the company’s work practices and culture. In fact, according to WorkplaceInfo, companies are bearing recruitment expenses amounting to nearly 50 percent of a person’s first-year salary.

Source - Read More at: yourstory.com