The 2024 State of Tech Talent Report by The Linux Foundation offers a comprehensive analysis of global trends in technology talent acquisition, retention, and management. Through a survey-based approach involving individuals responsible for hiring and training IT professionals, the report provides valuable insights into the evolving landscape of technical skill development and organizational strategies in response to emerging technologies and economic challenges.
Key findings and trends The report highlights a significant shift in organizational priorities toward upskilling and cross-skilling strategies, with 47% and 43% of respondents, respectively, identifying these approaches as key to technical talent management. A significantly greater number of organizations prioritize training methods exclusively (39%), showcasing a strong commitment to employee development, compared to those focusing solely on hiring methods (29%) (Figure 1b). This is further strengthened by future plans, where across all technology areas, the majority of organizations will prioritize upskilling / cross-skilling instead of hiring new employees or engaging consultants.
Despite concerns about economic uncertainty, the majority of organizations surveyed did not reduce their technical headcount in 2023. This resilience underscores the strategic value placed on technical expertise within organizations, particularly in areas such as cloud, DevOps, cybersecurity, and AI/ML, which emerged as the top technology domains prioritized for staffing.
The report also sheds light on the impact of emerging technologies, notably GenAI, on workforce planning. While GenAI presents opportunities for streamlining processes and optimizing workflows, it also poses challenges and opportunities in terms of workforce restructuring, with 27% of organizations intending to reduce their technical headcount in response to these advancements, while 23% would increase it.
Demand for skilled technical talent
In addressing the challenges of talent management, organizations are presented with significant opportunities to capitalize on the potential of upskilling and crossskilling initiatives. By prioritizing these strategies, organizations can empower their existing workforce to adapt to evolving technology trends and bridge the gap between theoretical knowledge and practical application. Performance-based training emerges as an important tool in fostering a culture of continuous learning, enabling employees to enhance their problem-solving skills and drive innovation within the organization.
We gained insight into the timeline of talent acquisition and turnover rates. The hiring and onboarding process on average now takes 10.2 months, and 38% of new hires experience turnover, with both numbers increasing from last year. With the rising turnover rates and increased hiring expenses, possibly influenced by GenAI automation, prioritizing upskilling and cross-skilling is vital for effective resource management.
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Copyright 2024. The Linux Foundation – The Open Source for Sustainability report and infographic are licensed under the Creative Commons Attribution-NoDerivatives 4.0 International Public License.