MassTLC Truth behind talent crisis

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MassTLC research on the truth behind the talent crisis in the Massachusetts tech ecosystem

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MassTLC Truth behind talent crisis

  1. 1. The Truth Behind the Talent Crisis PRELIMINARY SURVEY FINDINGS MASSTLC WORKFORCE SUMMIT DECEMBER 11, 2013 ©2012 MASSTLC ALL RIGHTS RESERVED.
  2. 2. Project Objectives ! Purpose –  ID short/long-term solutions to address tech sector talent needs ! Develop insights around: –  The extent of perceived talent crisis –  How tech leaders are addressing it –  Possible public-private interventions ! Participants –  CXOs; Talent Directors; Hiring Managers –  YOU! Please take 3-5 min to share your views! ©2012 MASSTLC ALL RIGHTS RESERVED. 2
  3. 3. CXO Respondent Company Demographics Company Size Enterprise (>$100M) 44% Startup (<$1M) 3% Large (<$100M) 30% Other Executives 14% HR/Talent Acquisition 12% Outside Metro Region 12% Small (<$5M) 17% 495 Corridor 20% Medium (< $10M) 9% Anonymous 12% Company Location Boston 19% Cambridge 12% 128 Corridor 37% Respondent Titles President/ CEO/GM 62% Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 3
  4. 4. CXO Respondent Demographics By Sector Note: data in this presentation is from the CXO group/survey 16 14 12 10 8 6 4 2 0 *Other includes: Technology Recruiting, Research University, Consumer Internet, Clean Tech, Aerospace & Defense, Energy, IT Services, Finance, Semiconductor, Hardware Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 4
  5. 5. CS jobs represent about half of the tech workforce and half the open requisitions Open Requisitions Total Employment CS Jobs vs Non-CS 8000 7000 6000 5000 CS Jobs! 49%! Non CS Jobs! 51%! 4000 All Open Jobs! 3000 CS Jobs! 2000 1000 0 Open Global Jobs! Preliminary Findings – MassTLC Confidential Open MA Jobs! ©2012 MASSTLC ALL RIGHTS RESERVED. 5
  6. 6. Strong competition for tech talent locally Cannot hire sufficient tech talent, period! ! Cannot find sufficient tech talent in local marketplace! ! Local schools are not producing sufficient tech talent! ! Strongly Agree! Agree! Neutral! Disagree! Strongly Disagree! There is too much competition locally for tech talent! ! Talent exists locally but is too expensive! ! Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 6
  7. 7. Sourcing: Quality (77%); Outside (70%) We hire recent grads primarily from top tier schools (ie, MIT, Harvard, Yale, etc.)! ! We hire recent grads from any quality programs (ie, MIT, WPI, UMass, Wentworth)! ! We hire recent grads from community colleges! ! Strongly Agree! Agree! Neutral! Disagree! Strongly Disagree! We partner with schools to develop targeted training programs and look to hire those graduates! ! We look outside the region and/or in other sectors to find talent! ! Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 7
  8. 8. Growth: 76% say talent is a top 3 barrier Talent acquisition/retention is the number one barrier to company growth Talent acquisition/retention is one of our top three barriers to company growth Lack of financing/investment options is a barrier to company growth Strongly Agree! Agree! Neutral! Disagree! Strongly Disagree! Lack of reasonably priced housing for our employees is a barrier to company growth! Lack of access to public transit options for our employees is a barrier to company growth Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 8
  9. 9. Skills: 78% Bachelors; 67% Biz knowledge PhD/Masters level computing/ engineering/programming skills are in greatest demand! ! Bachelors level computing/ engineering/programming skills are in greatest demand! ! Associates or community college level computing/engineering/programming skills are in greatest demand! ! Strongly Agree! Agree! Neutral! Disagree! Strongly Disagree! Hybrid of computing skills with vertical 
 business knowledge is in greatest demand! ! Non technical skills are in the greatest demand! ! Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 9
  10. 10. Experience: interns (85%); recent grads (63%) We have no problem hiring student interns! ! We have no problem hiring recent college graduates! We have no problem hiring talent with 3-5 years experience! CXO Survey Data Strongly Agree! Agree! Neutral! Disagree! Strongly Disagree! We have no problem hiring talent with 5-10 years experience! We have no problem hiring talent with 10+ years experience! Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 10
  11. 11. Increasing talent pool 85% 76% We need to increase the number of high school students taking computer science classes! ! Strongly Agree! 85% We need to address immigration reform to retain more highly skilled foreign workers! 65% We need to increase the number of college students retained in the region after graduation! ! 76% Agree! Neutral! Disagree! Strongly Disagree! We need to increase skills training 
 for our current workforce! ! We need to increase the amount of talent we attract from outside the region! ! Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 11
  12. 12. How would you invest $100 million? 30 CXO Survey Data 25 Million 20 15 10 5 0 Collaboration between industry and academia (adjuncts, interns, competitions, etc.)! ! Integration of computer science/ programming into grades 6-12! Marketing of Massachusetts outside the region to attract tech talent! Improve skills training for 
 your current workforce! Preliminary Findings – MassTLC Confidential Transportation improvements 
 to extend commutable ! talent pool! Increase availability of reasonably priced (market rate) housing units! ©2012 MASSTLC ALL RIGHTS RESERVED. 12
  13. 13. CS Education Week – Dec. 9-15th EDUCATION FOUNDATION Expanding Computing Education for all Massachusetts Students www.masstlcef.org www.masscan.net Preliminary Findings – MassTLC Confidential ©2012 MASSTLC ALL RIGHTS RESERVED. 13
  14. 14.   EDUCATION FOUNDATION Expanding Computing Education for all Massachusetts Students www.masstlcef.org ©2012 MASSTLC ALL RIGHTS RESERVED.

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